English Edition

UAE Oil Minister: Happy With Oil Price, Market Well Supplied

Πεμ, 19 Ιουλίου 2012 - 16:49

United Arab Emirates oil minister Mohammad Al-Hamli said Thursday that the Gulf state is happy with current oil prices, and that the market is well-supplied, a day after the president of the Organization of the Petroleum Exporting Countries said the oil body doesn't need to hold an emergency meeting as oil prices are rising.

Turkey to Tender for Iran-Europe Gas Link Project

Πεμ, 19 Ιουλίου 2012 - 12:46

A Turkish firm plans to push ahead with the development of a 35bn m³/yr pipeline intended to bring Iranian gas to Europe — despite the imposition of international sanctions on Iran.

US OIL INVENTORIES: Crude Stocks Decline By 800,000 Barrels

Τετ, 18 Ιουλίου 2012 - 19:23

U.S. crude inventories posted a smaller decline than analysts' expectations last week, according to data released Wednesday by the U.S. Department of Energy.

Saudi Arabia's Crude Supply Rises 4.5% to 10.31M B/D in June

Τετ, 18 Ιουλίου 2012 - 19:22

Top oil exporter Saudi Arabia increased its crude oil supply by 445,000 barrels a day to 10.31 million barrels a day in June from a month earlier, the Gulf Oil Review reported Wednesday.

No Need for OPEC To Hold Emergency Meeting Now -President

Τετ, 18 Ιουλίου 2012 - 19:22

The Organization of Petroleum Exporting Countries doesn't need to hold an emergency meeting while oil prices are improving, OPEC president and Iraqi oil minister said Wednesday.

BP Pays $5.2 Million Fine For False Reporting on U.S. Energy Production

Τετ, 18 Ιουλίου 2012 - 19:21

BP PLC (BP, BP.LN) has paid a $5.2 million fine for submitting false or misleading reports on energy production on Colorado tribal lands, the Interior Department said Wednesday.

U.S.: Assad Losing Control of Syria

Τετ, 18 Ιουλίου 2012 - 19:21

The Obama administration declared Wednesday that Syria's government is losing control of the country and said the world must act to prevent the development of a dangerous and violent power vacuum.

BP Begins Next Stage in TNK-BP Sale Process; Enters Negotiation Period

Τετ, 18 Ιουλίου 2012 - 19:20

BP PLC, the oil and gas company, said Wednesday it is beginning the next stage in the process of selling its 50% stake in TNK-BP, a Russian oil company owned equally by BP and Alfa Access-Renova, after the latter company decided to exercise its right to enter a period of negotiation to purchase part or all of BP's stake.

Iraq Inks Exploration Deal With Lukoil-led Group

Τρι, 17 Ιουλίου 2012 - 18:36

Russia's oil producer OAO Lukoil Holdings (LKOH.RS) and its partner Japan's Inpex Corp. (1605.TO) Tuesday initiated a deal with the Iraqi Oil Ministry to explore for oil at an Iraqi block in southern Iraq, a senior Iraqi oil official said.

Iraq Warns Turkey Against Violations Of Territory

Τρι, 17 Ιουλίου 2012 - 18:35

Iraq's government Tuesday warned Ankara against "any violations" of its territory and airspace, and instructed the foreign ministry to register a complaint at the United Nations Security Council.

Battle For Liberation Of Damascus Has Begun -Rebel Army

Τρι, 17 Ιουλίου 2012 - 18:35

The rebel Free Syrian Army said Tuesday that the "battle for the liberation of Damascus has begun," as fighting raged in the capital.

Shell Faces $5 Billion Fine For Nigeria Oil Spill

Τρι, 17 Ιουλίου 2012 - 18:33

Royal Dutch Shell PLC (RDSB.LN) could face a record $5 billion fine from authorities in Nigeria for an oil spill off the coast of the West African country last year, an amount that dwarfs similar fines in the U.S. and Brazil.

Greece Approves Bulgaria Gas Link

Τρι, 17 Ιουλίου 2012 - 12:09

Greece's Ministry of Environment, Energy and Climate Change has approved a preliminary environmental report on the construction of the gas link that is to connect Komotini to Bulgaria's Stara Zagora.

UAE's Fujairah Pipeline Starts Up, First Cargo to Pakistan

Δευ, 16 Ιουλίου 2012 - 18:16

A new oil pipeline that bypasses the Strait of Hormuz started its exports Sunday, and the first cargo is heading to a refinery in Pakistan, officials and industry sources said.

Total: European Refining Margin More Than Doubles In 2Q On Year

Δευ, 16 Ιουλίου 2012 - 18:15

French oil company Total SA (TOT) Monday said its European refining margin more than doubled to $38.2 per metric ton in the second quarter of this year, up from $16.3 per ton in the same period a year ago.

Eni to Raise Investment in Indonesia to up to $1.2 Bln in 2013

Δευ, 16 Ιουλίου 2012 - 18:15

Italian oil and gas company Eni S.p.A. (E) will boost its investment in Indonesia to up to $1.2 billion next year from $400 million this year, a government official said Monday.