Petroleo Brasileiro SA announced that it is prepared to have Chinese state-owned oil companies invest in its oil exploration and production projects in Brazil. For full story, click here
Continue reading "Petroleo Brasileiro opens to China stake in oil fields"
Tuesday, May 5, 2009
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Continue reading "Crude oil headed for $71.55 a barrel"
Wednesday, March 4, 2009
Exxon Mobil Corp., the world’s largest oil company, has planned to tap its $31.4 billion mountain of cash to purchase stakes in offshore fields from state oil companies rather than mounting takeover bids for major rivals. Brian Youngberg, an analyst at Edward Jones & Co. in Des Peres, Missouri, said: The obvious opportunity is Brazil, [...]
Continue reading "Exxon Mobil using Cash reserves for Field Stakes"
Sunday, February 22, 2009
U.S. oil recovered earlier losses and rose above $40 a barrel on Monday after a report that said the U.S. government could end up owning as much as 40 percent of Citigroup improved sentiment among investors. For more information, click here
Continue reading "Oil trades above $40 on report of U.S. stake in Citi"
Tuesday, February 17, 2009
Total saw its stake in the Sincor project reduced from 47% to 30.3% in July 2007, and the company remains committed to the project. For full story, click here
Continue reading "Total’s stake in the Sincor project reduced"
Monday, December 29, 2008
Russia’s top oil producer, Rosneft, will not buy a stake in Imperial Energy, which India’s state-run ONGC is acquiring, Indian government and ONGC sources said. For full story, click here
Continue reading "Rosneft not to buy stake in Imperial-Report"
Friday, December 19, 2008
A newly formed joint venture of state refiner Indian Oil Corp and Adani Energy may take 50 per cent stake in a Rs 4,000-crore LNG import terminal planned by GSPC at Mundra in Gujarat. For full story, click here
Continue reading "IOC-Adani Energy JV may pick 50 pc stake in LNG terminal"
Tuesday, December 16, 2008
Russia’s top oil producer, Rosneft, will not buy a stake in Imperial Energy, which India’s state-run ONGC is acquiring, Indian government and ONGC sources said. For full story, click here
Continue reading "Rosneft not to buy stake in Imperial-Report"
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Wednesday, May 13, 2009