Archives Mensuelles: août 2013

ENI and PDVSA to form JV to develop Perla gas condensate reserves

Italy-based oil major ENI and Venezuela’s state-owned oil firm Petroleos de Venezuela (PDVSA) have entered into an agreement to form a joint venture (JV) to develop an estimated 170 million barrel gas condensate reserves in the Perla field. As per the agreement, PDVSA will own 60 percent interest in the JV, while ENI will hold […]

Iraq to cut September Basrah Light crude exports to 20-month low

Iraq will reduce daily exports of Basrah Light crude from the Persian Gulf in September to the lowest in at least 20 months, according to a loading program. The Middle Eastern producer, the largest in the Organization of Petroleum Exporting Countries after Saudi Arabia, will ship about 52.86 million barrels, or 1.76 million barrels a […]

Today’s oil prices soar over rising tension in Syria

Oil prices soared today amid fears that Syria’s suspected attack using chemical weapons could increase the prospect of more military action in the Middle East. Brent crude was up by 25 cents to $110.98 a barrel, while US oil gained by 28 cents to settle at $106.20 a barrel, reported Reuters. Claiming Syrian President Bashar […]

Norway cuts oil price forecasts for 2014 and 2015

Norway’s government is cutting its projections for oil prices by 4 percent for next year and 11 percent for 2015, reflecting higher supply and lower demand from the world’s two biggest economies, its prime minister said late on Thursday 22. The Nordic country is the world’s seventh-largest oil exporter. It can use up to 4 […]

Libya to resume oil exports from Brega as protests ease

Libya said it will resume oil exports from Brega, one of four ports where it declared force majeure this week, as protests that shut the facilities since end-July eased. Brega may add some 90,000 barrels a day to Libya’s exports that are running at 500,000 barrels a day, shipped through the Zawiya terminal, in Western […]

PetroChina / Cnooc growth in H1 2013

Once upon a time, PetroChina was the world’s most valuable company, clocking in at $1,000bn in November 2007. Those days are over: today, the Chinese state oil and gas producer is worth $235bn. That may be more realistic – ExxonMobil has a market capitalisation of $380bn. PetroChina is a different oil company today, however, judging […]