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Iraq, Kurds Reach Tentative Deal on Payment to Oil Companies

Iraq, Kurds Reach Tentative Deal on Payment to Oil Companies

Πεμ, 2 Μαΐου 2013 - 17:08

The federal government in Baghdad and Iraq's semi-autonomous region of Kurdistan have reached a tentative agreement to resolve a dispute over payments to foreign companies that has shut down most crude oil exports from the region, Iraqi officials said.

Japan Cut Iran Oil Imports By 40% Over 5 Years Due to Sanctions

Japan Cut Iran Oil Imports By 40% Over 5 Years Due to Sanctions

Πεμ, 2 Μαΐου 2013 - 17:07

Japan, historically one of Iran's largest trading partners, has cut its oil imports from the Islamic Republic by 40% in five years, a Japanese official said Thursday, underscoring the impact of international sanctions against Tehran.

Can Hydrocarbon Reserves Save the Cyprus Economy?

Can Hydrocarbon Reserves Save the Cyprus Economy?

Τετ, 1 Μαΐου 2013 - 22:29

Following the Eurogroup conspiracy of March 15, the subsequent Troika-inspired “bail out” and the consequential collapse of Cyprus’s banking system, the question arises as to what model, if any, could be applied to help restart the island’s economy. With the huge loss of the country’s credibility in the international markets, the options are not that many.

Brazils Petrobras to Sell Gulf of Mexico Stakes for $110 Million

Brazil's Petrobras to Sell Gulf of Mexico Stakes for $110 Million

Τετ, 1 Μαΐου 2013 - 17:15

Petroleo Brasileiro SA (PETR4.BR, PBR), Brazil's state-controlled oil company, said Tuesday that it agreed to sell its stake in six exploration blocks in the Gulf of Mexico and should receive about $110 million for the stakes.

Frances Total Raises Security Spending in Middle East

France's Total Raises Security Spending in Middle East

Τετ, 1 Μαΐου 2013 - 17:14

French oil and gas major Total SA (TOT) has increased its security spending in the Middle East following a deadly attack in January on an Algerian natural-gas plant that rekindled fears of raids on energy facilities across the region, a senior executive said Wednesday.

Syrias Assad Makes Rare Public Visit To Power Plant

Syria's Assad Makes Rare Public Visit To Power Plant

Τετ, 1 Μαΐου 2013 - 17:13

Syria's President Bashar al-Assad made a rare public visit on Wednesday to an electrical plant in central Damascus to mark Labor Day, the presidency's official Facebook page said.

Shell-Iraq Venture To Produce 500 Million CF/D Gas By End 2013

Shell-Iraq Venture To Produce 500 Million CF/D Gas By End 2013

Τετ, 1 Μαΐου 2013 - 17:13

A joint venture between Iraq, Royal Dutch Shell PLC (RDSB.LN) and Japan's Mitsubishi Corp. (8058.TO) will by the end of this year have doubled the amount of natural gas it captures from three giant southern oil fields, reducing waste and helping feed domestic power and heating needs, a senior Iraqi oil official said Wednesday.

Norway Orders BP To Review Safety

Norway Orders BP To Review Safety

Τρι, 30 Απριλίου 2013 - 18:19

Norway's Petroleum Safety Authority ordered BP PLC to review its management systems for the second time in two years after concluding that serious safety breaches caused a North Sea leak that could have turned into a major accident.

Egypt To Adopt New Oil, Gas Licensing Policy

Egypt To Adopt New Oil, Gas Licensing Policy

Τρι, 30 Απριλίου 2013 - 18:18

Egypt will adopt a new licensing policy for its future oil and gas exploration contracts signed with foreign companies that will allow the North African country to obtain a bigger share of the production, its oil minister Osama Kamal said.

BP First Quarter Profit Rises Sharply On TNK-BP Sale

BP First Quarter Profit Rises Sharply On TNK-BP Sale

Τρι, 30 Απριλίου 2013 - 18:18

BP PLC (BP, BP.LN) said Tuesday its first-quarter profit nearly tripled from a year earlier, as proceeds from the $27.5 billion sale of Russian joint venture TNK-BP offset falling oil and gas production.

Gazprom 2012 Net Profit Plunges 10% on Lower Sales

Gazprom 2012 Net Profit Plunges 10% on Lower Sales

Τρι, 30 Απριλίου 2013 - 12:51

Russian energy giant Gazprom's IFRS net profit for 2012 fell 10 percent year-on-year to 1.18 trillion rubles ($38 billion) amid lower gas sales, the company said on Tuesday.