Rosneft, Russia's top oil producer and one of the biggest globally, plans to reveal share buyback details in June, CFO Pavel Fyodorov said in a conference call on Monday.The company had announced a series of measures on May 1 to improve shareholder returns…
China approved an expansion of a coal mine project owned by Shenhuo Group in Henan province to 2.4 million tonnes from current 900,000 tonnes, the National Energy Administration (NEA) said in a statement on Monday.Total investment of the expansion will reach 2…
Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources. State-run utility CFE held a tender on 2 May for deliveries to Mexico’s Altamira terminal in the Gulf of Mexico…
Abu Dhabi National Oil Co (ADNOC) will supply the first oil cargo for India's strategic petroleum reserve (SPR) over the weekend, an Indian government statement said, becoming the first foreign company to lease storage in the country.India,…
Teekay’s three-decades-old floating production, storage and offloading (FPSO) Petrojarl I has achieved first oil and commenced its five-year charter contract with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) on the Atlanta oilfield…
China's GCL Group has signed a memorandum of understanding (MOU) with Egypt's ministry of military production to build a solar panel facility at a cost of up to $2 billion, state-run newspaper Al-Ahram reported on Thursday.Under the MOU, which was signed on Wednesday…
Rolls-Royce has received its first order in china for series 4000 mtu engines fulfilling epa tier 4 final emissions regulations. Rolls-Royce key customer jereh petroleum equipment has ordered 16 engines of type 12v 4000 t95 for new fracturing pump equipment.
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the…
Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any potential shortage but it will not act alone to fill in the gap, an OPEC source familiar with the kingdom's oil thinking said on Wednesday…
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling…
Papua New Guinea LNG mid-term deals to be finalized in H1 2018** Papua New Guinea's (PNG) liquefied natural gas (LNG) project aims to finalise supply agreements with shortlisted companies for up to 1.3 million tonnes per year of LNG in the first half of 2018…
Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.Russia increased oil pipeline exports to China by almost 50 percent in January-April from a year earlier to 12…
Iran is readying the first commercial exports of its West Karoun crude oil grade for May or June, two sources familiar with the matter said, even as fresh economic sanctions against the country loom.Iran has already been shipping samples of…
Saudi Arabian Energy Minister Khalid al-Falih tells Japan's trade minister Hiroshige Seko that he is concerned about low investment levels and potential oil shortages in the future. 'We believe we are on our way to restoring energy stability to the market…
The Iranian oil industry will continue to develop even if the United States pulls out of the 2015 Iran nuclear deal, and Tehran would see the accord as operational as long as it can sell oil, the Oil Ministry website quoted senior officials as saying on Monday…
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