Economic outlook for the country has shifted remarkably as the Federal Government’s deficit budget is likely going to fizzle out due to surge in crude oil prices to above $65 per barrel in the international markets, Renaissance Capital has stated. For full story, click here
Read the full article: "Budget Deficit may fizzle out as Oil sold at..."
Wednesday, June 24, 2009
Inpex Corp. and Sojitz Corporation have declared that Frade Japão Petróleo Limitada, together with its partners Chevron and Brazil’s national oil company Petrobras, has started crude oil output from the Frade Field in Brazil on June 20, 2009. For full story, click here
Read the full article: "Inpex has declared First Oil Output from..."
Wednesday, June 24, 2009
The board of Addax, which is also listed in Toronto and based in Switzerland, has recommended a C$52.80 per share offer from Sinopec, the Chinese state oil and gas company. For full story, click here
Read the full article: "China purchased Addax for 4.4 bln to tap..."
Wednesday, June 24, 2009
China Petrochemical Corp., the country’s second-biggest oil company, agreed to purchase Swiss explorer Addax Petroleum for $7.3 billion in cash to tap oil reserves in Iraq’s Kurdish region and Africa. For full story, click here
Read the full article: "Sinopec Group has agreed to purchase Addax..."
Wednesday, June 24, 2009
Japan Energy Corp, the nation’s sixth-biggest oil refiner, declared that it plans to cut its crude oil processing volumes for July-September by 9 percent from a year earlier due to slow domestic demand. For full story, click here
Read the full article: "Japan Energy will cut Q3 refining on weak..."
Tuesday, June 23, 2009
U.S. oil major Chevron Corp. commenced crude oil output at its Frade prospect in Brazil, marking a significant milestone as foreign companies start to ramp up output in Latin America’s most-promising oil frontier. For full story, click here
Read the full article: "Chevron has kicked off Brazil Crude Output..."
Tuesday, June 23, 2009
Lower oil output and weaker global energy prices pushed the Federal Government’s revenues dip by ₦182 billion or 32 percent below target in the first quarter. For full story, click here
Read the full article: "Government’s revenues will slip $182..."
Monday, June 22, 2009
Russian oil company Tatneft declared that its net profit surged 25 percent year-on-year in the first quarter on the back of sharply lower costs and taxes but still learned less per barrel than its peers. For full story, click here
Read the full article: "Tatneft Q1 net surged 25% on lower costs,..."
Monday, June 22, 2009
OPEC president Angola declared that the group’s goal was still to achieve $75 a barrel by the end of the year, echoing earlier comment by leading exporter Saudi Arabia that the level was achievable without damaging a fragile world economy. For full story, click here
Read the full article: "OPEC President said goal is still for $75 oil"
Monday, June 22, 2009
With the international shipping industry facing rough weather, Shipping Corporation of India, the country’s leading shipping firm by fleet size and revenues, has shelved its plan to purchase four very large crude carriers worth $320 million. For full story, click here
Read the full article: "SCI has planned to purchase 4 large Crude..."
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Wednesday, June 24, 2009