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China has more oil production abroad than at home
China is one of the biggest oil consumers heavily reliant on imports. Production from assets the Chinese state oil firms own abroad surpasses internal production, increasing the state dependency on foreign oil.
read more... 14/03/2018
Iran and Azerbaijan to complete oil agreement by next month
Iranian oil minister, who met in Tehran Shahin Mustafayev, Azerbaijani Minister of Economy and Industry, affirmed that the oil negotiations held between Iran and Azerbaijan are positive and expressed the hope to finalize the talks successfully.
read more... 14/03/2018
China wants to become co-owner of Russia's largest oil firm
Chinese state-controlled Huarong Asset Management purchased 36.2 percent stake in the unit of CEFC China Energy through which CEFC is obtaining a $9.1 billion stake in Russian oil giant Rosneft.
read more... 13/03/2018
Nigeria is now the biggest petrol importer globally
Nigeria is the single member country in the Organisation of Petroleum Exporting Countries, OPEC, that imports petroleum, mentioned by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, at the 2018 Oloibiri Lecture Series (OLEF) in Abuja.
read more... 02/03/2018
Oil & gas agreements hit five-year low in 2017
The volume of global oil and gas agreements reached a five-year low in 2017, according to a new report from business services firm EY, which declared that the total value of global transactions declined to $343 billion (£247 billion) from $390 billion (£281 billion) in 2016.
read more... 14/02/2018