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Shell Remains Committed To Natural Gas Strategy - CEO Voser

Shell Remains Committed To Natural Gas Strategy - CEO Voser

Royal Dutch Shell PLC (RDSB) believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its Chief Executive Peter Voser said Tuesday.

Gazprom Neft 1Q Net Profit Up 21% To RUB48.4 Billion

Gazprom Neft 1Q Net Profit Up 21% To RUB48.4 Billion

OAO Gazprom Neft (SIBN.RS), the oil unit of state gas giant OAO Gazprom (GAZP.RS), Tuesday said net profit for the first quarter totaled 48.4 billion rubles ($1.55 billion), a 21% increase from a year earlier, due to higher crude and petroleum product prices and increases in hydrocarbon production, oil refining volumes and sales through premium channels.

US Senate Approves New Iran Sanctions Bill

US Senate Approves New Iran Sanctions Bill

The US Senate today unanimously approved a new sanctions bill that will target companies engaged inenergy joint ventureswith Iran. The Senate fired off its latest economic salvo in hopes of ratcheting up the pressure against Iran, as negotiators from the US and other world powers are scheduled to meet with their Iranian counterparts in Iraq's capital Baghdad on 23 May to discuss Tehran's nuclear program.

NATO Has No Intention To Intervene In Syria - Rasmussen

NATO Has No Intention To Intervene In Syria - Rasmussen

North Atlantic Treaty Organization chief Anders Fogh Rasmussen on Sunday voiced concern about violence in Syria, but said the alliance has "no intention" of taking military action against the regime.

Saudi Oil Output At 9.923M B/D In March, Exceeding Russia - Data

Saudi Oil Output At 9.923M B/D In March, Exceeding Russia - Data

Oil production in Saudi Arabia, the world's largest crude exporter, rose to 9.923 million barrels a day in March, from 9.853 million barrels a day in February, overtaking Russia as the world's largest producer for the first time in six years, official data showed Sunday.

Saudi Aramco Says Completes 2nd Stage of Karan Gas Field

Saudi Aramco Says Completes 2nd Stage of Karan Gas Field

State-giant Saudi Arabian Oil Co., or Saudi Aramco, said Sunday it has completed, ahead of schedule, the second stage of the kingdom's first offshore non-associated gas field, to meet growing domestic needs.

Iraq Earns $8.8B From Oil Sales In April; Highest For Decades

Iraq Earns $8.8B From Oil Sales In April; Highest For Decades

Iraq's revenues from oil sales in April climbed to $8.79 billion, the highest the Middle Eastern country has achieved for decades, the oil ministry said in a statement Monday, adding that Iraq had sold its oil at an average price of $116.8 a barrel.

Kurdistan Pipeline to Start Exports in 2013

Kurdistan Pipeline to Start Exports in 2013

Iraq's autonomous Kurdistan region expects to start exporting its oil along a new pipeline to the Turkish border by August 2013, defying Baghdad in a long-running dispute over who controls the country's oil sales.

Iran Makes Caspian Oil Discovery

Iran Makes Caspian Oil Discovery

Iran has made an oil discovery in its sector of the Caspian Sea, which it claims could contain around 7bn-10bn bl of crude.

Japan Govt To Ask For Power Usage Cuts At Peak Times This Summer

Japan Govt To Ask For Power Usage Cuts At Peak Times This Summer

The Japanese government will likely ask for power usage cuts across most of the country in the peak summer demand period as all of the nation's nuclear plants remain offline, according to a draft report compiled by a government-affiliated panel.