Latest news
Shell to give up about 20 % of its stake in CSPC to gain 30 % stake of CNOOC Refinery
The reporters from China Daily newspaper announced on Tuesday that the oil giant, Royal Dutch Shell is negotiating to acquire a 30 % stake in a refining project. The project belongs to China National Offshore Oil Corporation (CNOOC) and requires about $ 7.5 billion of investments.
read more... 14/01/2011
OPEC should not convene an emergency meeting.
OPEC, the producer of 40 percent of the world's oil, doesn't need to gather for an emergency meeting to discuss any further reduction in oil production even if the price of crude oil hits $90 a barrel, Iran’s OPEC governor said.
read more... 13/01/2011
U.K. to intensify the number of oil and gas inspections in the North Sea
The U.K. government said Tuesday it will further enhance the number of inspections of oil and gas rigs operating in the North Sea as a consequence of the oil leak from the Gulf of Mexico.
read more... 12/01/2011
PetroChina into a refining deal with Ineos Group
PetroChina Co., China’s biggest energy producer, after agreeing to form a venture with U.K. refiner Ineos Group Holdings Plc, one of the UK’s largest private businesses, has acquired a strategic stake in Europe’s refining markets
read more... 11/01/2011
A new oil auction in Iraq
Iraqi head of Petroleum Contracts and Licensing Directorate, Mahdi Al Ameedi, said that Iraq plans a fourth licensing auction that will grant international companies a number of oil and gas exploration contracts, reported Gulf News. Ameedi did not mention how many oil and gas fields would be included in the auction.
read more... 10/01/2011