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BP shareholders want to sell twice more assets than the company’s current plan
BP is facing a pressure from its biggest investors to sell off more than the double of the assets BP is currently selling as a program of radical reorganization. The investors are claiming that BP's chief executive, Bob Dudley, has the opportunity to change the company into a more dynamic one, following the devastating oil spill in the Gulf of Mexico.
read more... 18/04/2011
OPEC forecasts Japan revival to be negative
According to OPEC forecasts on Saturday, Japan will face a negative growth this year in the wake of the devastation caused by the earthquake and tsunami from March 11, but IMF (International Monetary Fund) economists remain confident that Japan could be recover from the disaster, all depending on the restoration of power supplies.
read more... 18/04/2011
OPEC output drops in March
According to a survey released by Platts, the 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil output dropped in March by 630,000 barrels per day to 29.17 million b/d, following the loss of 930,000 b/d of Libyan production and the failure of Saudi Arabia’s supply to face the decline in Libyan.
read more... 15/04/2011
Statoil began oil production at Peregrino field in Brazil
Norwegian oil company Statoil announced on Thursday that it has discovered a significant oil reserve at its Peregrino field in Brazil and started oil production last week having the goal to become the second-largest operator there, after Petrobras.
read more... 15/04/2011
Eni to acquire stakes in Ukraine’s Cadogan Petroleum
Cadogan Petroleum, an oil and gas company operating in Ukraine announced yesterday that it has inked with the major Italian energy firm Eni a strategic agreement for the acquisition of an interest in the company's Pokrovskoe and Zagoryanska licenses in the east of Ukraine, both licenses being located in the Dniepr-Donetz basin.
read more... 14/04/2011