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India to Auction 60 Small Discovered Oil, Gas Fields

Feb 07, 2018

India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting.Blocks that will be auctioned were originally…

Shell Russia: Impact of Western Sanctions 'minimal'

Feb 07, 2018

International oil major Royal Dutch Shell's Russian business felt minimal impact from Western sanctions on Russia, the branch's head Sergey Starodubtsev said on Wednesday, adding the firm was fully compliant with international law. Shell Neft…

BP to Boost U.S. Investment After Tax Reform

Feb 06, 2018

British oil and gas company BP will increase investment in the United States after the lowering of tax rates under President Donald Trump, Chief Executive Bob Dudley said on Tuesday. 'It is important for us, there is no doubt we will increase investments…

China Surpasses US as Largest Crude Oil Importer

Feb 05, 2018

China took the crown as the world’s largest crude oil importer in 2017, according to U.S. Energy Information Administration press release. China imported 8.4 million barrels per day, and the United States imported 7.9 million barrels per day…

China Rebuffs U.S. Criticism of its Venezuela Ties

Feb 05, 2018

China's support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said on Monday after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro's government with murky oil-for-loan investments…

Greenpeace Appeals after Losing Norwegian Arctic Lawsuit

Feb 05, 2018

Environmental groups launched an appeal on Monday after an Oslo court rejected their arguments that Norway's oil and gas exploration in the Arctic violates citizens' right to a clean environment. Greenpeace and Nature and Youth disputed the Oslo District Court's verdict last month…

Exxon, Chevron Shares Plunge

Feb 02, 2018

Exxon Mobil Corp and Chevron Corp posted rare quarterly earnings misses on Friday as cost cuts and rising oil prices failed to offset weakness in international refining operations, sending shares of both companies plunging. Investors were…

Unipec Hires Veteran Crude Trader for Hong Kong Office

Feb 02, 2018

Unipec, the trading arm of Asia's largest refiner Sinopec, has hired veteran crude oil trader Lee Yee Meng, who will join its office in Hong Kong in May, trade sources familiar with the matter said on Friday. Lee left Trafigura Singapore…

BP Says Gas will Overtake Oil as Main Energy Source by 2040

Jan 31, 2018

BP expects gas to overtake oil as the world's primary energy source in around 2040 as demand for the least polluting fossil fuel grows, its vice president for strategic planning said on Wednesday. 'We see it (gas) take over from coal in the early 2030s…

Israel, Lebanon Argue over Offshore Block, Beirut Slams 'Threat'

Jan 31, 2018

Israel described as 'very provocative' on Wednesday a Lebanese offshore oil and gas exploration tender in disputed territory on the countries' maritime border, and urged international firms not to bid.Lebanese President Michel Aoun, whose country considers Israel an enemy state…

Alaska Requests Limits on US Offshore Drilling

Jan 30, 2018

Alaska Governor Bill Walker said on Tuesday he has asked U.S. Interior Secretary Ryan Zinke to pare back a Trump administration plan for oil and gas leasing off the state's coast. While Walker supports offshore oil development, he said the…

Saudi Aramco Considering Expansion to India

Jan 30, 2018

Saudi Aramco, the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei said on Tuesday, citing Aramco's CEO who said that plans for an Indian refinery are crystallising. 'Saudi Aramco is looking at additional investments in China…

Iraq to Comply with OPEC Deal Despite Oil Export Capacity Rise

Jan 29, 2018

Iraq will comply with the OPEC-led deal on reducing output even though Baghdad is working hard to increase its oil export capacity from the north and south of the country, its oil minister said on Monday.Jabar al-Luaibi told a Chatham House…

Petrobras to Join Oil and Gas Climate Initiative

Jan 25, 2018

Brazilian state-controlled oil company Petróleo Brasileiro SA will join the Oil and Gas Climate Initiative (OGCI), becoming the 10th member of the group which aims to lead the industry's response to climate change. Petrobras' entry is subject to the approval of the OGCI and Petrobras' board…

DNV GL Alliance for Offshore Wind Energy Development in Vietnam

Jan 24, 2018

Singapore-based Enterprize Energy and partner Renewable Energy Global Solutions (REGS), together with PetroVietnam consortium comprising Petroleum Equipment Assembly & Metal Structure (PVC-MS) and VietSovPetro (VSP), MHI-Vestas Offshore Wind (MVOW)…

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