KNM Group Bhd, Malaysia’s leading publicly traded oil and gas services provider, declared there are signs demand is picking up after a crude-price rally triggered a revival of exploration projects. For full story, click here
U.S. crude prices have shot above the key 200-day moving average on Wednesday for the first time in more than eight months, adding to some analysts’ convictions that oil has found a new price floor at $60 a barrel. For full story, click here
Cairn India declared that it will sell its Rajasthan crude oil at a discount of about $16 a barrel to the grade of Oil and Natural Gas Corp’s Mumbai High crude oil. For full story, click here
Energy Minister Georgina Kessel declared that Mexico’s faltering crude oil output should begin to recover next year or in 2011. For full story, click here
Asia’s leading oil and gas producer, PetroChina declared that it would purchase a 45.5 percent stake in Singapore Petroleum Company for $1.02 billion, its first overseas acquisition of a public company. For full story, click here
Crude oil slipped on speculation OPEC ministers won’t cut output at their May 28 meeting and as the U.S. dollar gained after North Korea held a nuclear test. For full story, click here
Crude oil output by LukOil Group surged by 3.2 percent y-o-y to 1.976 million barrels per day. For full story, click here
Italy’s leading oil and gas company Eni SpA declared force majeure for Nigeria’s Brass River export terminal this week as militant unrest heated up in the region. For full story, click here
It is reported that CNPC published to that project of China-Russia Crude Oil Pipeline Route in China commenced construction and would be completed by the end of 2010. About 15 million tonnes of crude oil will be transacted per year. For full story, click here
Nigerian crude oil output was around 1.6 million barrels per day excluding condensate before the latest Niger Delta unrest late last week. For full story, click here
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