Kuwait is expected to surge its crude exports to China by 36 percent this year to 8 million tonnes, as the Gulf oil exporter works hard to land a major refinery deal with top Asian refiner Sinopec Corp. For full story, click here
Continue reading "Kuwait’s 2009 Crude Supply to China has risen by 36 percent"
Thursday, March 19, 2009
Cuba is holding talks regarding oil exploration and production deals with Russia, China and Angola, with Moscow shaping up as the partner that could make the communist island energy self-sufficient. Basic Industry Minister Manuel Marrero, said: The Cuban oil industry’s venturing out into deep sea waters in the Gulf of Mexico very likely will result in an [...]
Continue reading "Cuba negotiating oil exploration deal with Russia, China"
Sunday, March 8, 2009
Owing to inefficiencies, funding constraints and shut-in of oil wells due to crisis in the Niger Delta, approximately 430 million barrels of crude oil have been lost by Nigeria in the NNPC, Shell Joint [...]
Continue reading "430 million barrels of crude-oil lost in NNPC, Shell JV deal"
Sunday, December 14, 2008
Chevron, the world’s fourth-largest oil company, will take a final decision by the end of January 2009 on buying a 24% stake in Reliance Petroleum (RPL) and hold on to the 5% it already has in the company. For full story, click here
Continue reading "Chevron to decide RPL deal by January"
Thursday, November 20, 2008
Exxon Mobil Corp and Turkey’s state-run oil company, TPAO, signed a deal Wednesday for the joint exploration and development of oil and natural gas off its Black Sea coast. For full story, click here
Continue reading "Exxon Mobil signed a deal with Turkey’s TPAO"
Wednesday, November 12, 2008
Brazil’s state-run oil firm signed an agreement to explore for oil in deep Caribbean waters north of Cuba that officials in Havana say could contain 20 billion barrels of crude. For full story, click here
Continue reading "Petrobras signs offshore oil exploration, output deal with Cuba"
Tuesday, October 21, 2008
China National Petroleum Corp (CNPC) has signed an agreement with Uzbekistan’s state-owned Uzbekneftegaz to explore oil there. For full story, click here For CNPC’s website, click here
Continue reading "CNPC inks oil exploration deal with Uzbekneftegaz"
Monday, October 20, 2008
The PetroVietnam Oil Corporation (PV Oil) signed a $3 bn contract with the Dung Quat Oil Refinery factory to supply crude oil and materials for distribution when the factory opens in 2009. For full story, click here
Continue reading "PetroVietnam, Dung Quat refinery signs $3bn crude oil deal"
Monday, September 29, 2008
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
Continue reading "Benchmark: Troubled waters"
Monday, September 22, 2008
The expiration of October trading certainly played a disproportionate role in the record one-day gain, as it exercised a huge pressure on short positions. The meteoric rise also illuminates how much the vacillation is due to speculative activity.
Continue reading "Benchmark: Hedge grows"
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Thursday, April 30, 2009