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Russia's Rosneft More Than Triples Q2 Net Profit

Aug 07, 2018

Russia's Rosneft more than triples Q2 net profit, shares hit recordRussia's largest oil producer Rosneft said on Tuesday its second-quarter net profit more than tripled to 228 billion roubles ($3.6 billion) on higher production and prices, pushing its shares to an all-time peak…

India Offers Incentives to State-owned Oil and Gas Firms

Jul 18, 2018

Oil and Natural Gas Corp Ltd and Oil India Ltd will pay royalty and cess tax only to the extent of their equity holding in oil and gas blocks given to them before 1999, Indian Oil Minister Dharmendra Pradhan said on Wednesday after a cabinet meeting…

China to Cut US Oil Imports Amid Trade Spat

Jun 21, 2018

Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said…

China's CNOOC Sees Ugandan Oil Production Starting in 2021

Jun 13, 2018

Oil production in Uganda is likely to start in 2021 at the earliest, China's CNOOC said, giving a later date than the government's 2020 target.CNOOC, which is developing the fields in the west of the country with Britain's Tullow Oil and France’s Total…

Vivo Energy IPO Launches with 2 bln Pound Valuation

May 04, 2018

Largest Africa-focused IPO since 2005; Vivo to join FTSE 250 index. Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade…

China's Coal Import Restrictions may Pressure Pricing

Apr 17, 2018

The price of seaborne thermal coal in Asia may come under pressure as China moves to impose some import restrictions on imports of the polluting fuel. Several ports in southern and eastern China have introduced controls on coal imports,…

China Tariffs on U.S. Ethanol to Cut Off Imports in Short-Term

Apr 02, 2018

Chinese buyers of U.S. ethanol will have to cut their imports because of new higher tariffs but they will have to return to the overseas market to meet the government's targets for using the fuel, industry participants and analysts said on Monday…

Record-size US Offshore Oil Lease Sale Draws Modest Bidding

Mar 21, 2018

Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31…

ExxonMobil Expects to Resume Paying Australian Corporate Tax in 2021

Mar 14, 2018

ExxonMobil Corp said on Wednesday it is likely to resume paying corporate tax in Australia only in 2021, after recouping billions of dollars in investments made in the country in the past decade. The oil giant was grilled at an Australian Senate hearing on tax avoidance…

Russia Ramps up Fuel Exports in Fight for European Market

Mar 12, 2018

Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation…

Exxon Quits Some Rosneft Joint Ventures Citing Sanctions

Mar 01, 2018

Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon…

Patterson-UTI Energy Reports Bigger Loss than Expected

Feb 08, 2018

Oil and gas driller Patterson-UTI Energy Inc, dealing with the fallout of a drilling accident that killed five workers last month, reported a bigger-than-expected quarterly loss on Thursday as expenses more than doubled.The accident at an…

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…

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…

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