Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. For full story, click here
Continue reading "Sinopec has sought Capacity, Reserves with Addax Bid"
Tuesday, June 16, 2009
China declared that it has begun lying a gigantic 1,100 km long gas and oil pipeline to Myanmar in September; the official media said a day before the visit of Burmese leaders beginning Wednesday. It will cut transportation costs by shortening the journey for crude from the Middle East and Africa. For full story, click [...]
Continue reading "China will build Oil and Gas Pipeline to Myanmar"
Thursday, May 14, 2009
India is in talks with Middle East producers to jointly set up crude oil storage facilities to secure supplies for Asia’s third-leading consumer and an assured market for sellers. For full story, click here
Continue reading "India has planned joint crude storage with Gulf Suppliers"
Monday, November 3, 2008
According to Mohammed Bin Dhaen Al Hamili, UAE Minister for Energy, oil and gas producers in the Middle East should continue to invest in the industry despite the fall in oil prices across the world. Mohammed Bin Dhaen Al Hamili, UAE Minister for Energy, said: As you know, recent events in global financial markets have [...]
Continue reading "Don’t stop investing in oil sector says UAE minister"
Monday, August 4, 2008
Barack Obama has asked the U.S. not to depend on oil from the Middle East and Venezuela in 10 years as part of a broad speech laying out his energy plans. Obama, Democratic presidential candidate, was quoted as saying: Breaking our oil addiction is one of the greatest challenges our generation will ever face. It’s [...]
Continue reading "Obama asks U.S. not to depend on foreign oil within 10 years"
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Thursday, June 25, 2009