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 […]
Theft and disruptions knock Nigeria oil output to four-year low
Nigeria is suffering the worst oil production disruptions in four years, with output falling to levels last seen before the government’s amnesty programme ended the militancy in the Niger delta. Industrial scale oil theft, sabotage and technical problems have caused crude output to drop to less than 1.9m barrels a day this summer, the lowest […]
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 […]
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 […]
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 […]
Record for UK’s offshore oil & gas investments in 2013
Oil & Gas UK in its economic activity report for 2013 has said that investments in the North Sea oil and gas operations could hit a record $49.9bn in 2013 with renewed commitment from the government. Oil & Gas UK’s chief Malcolm Webb said investors gained confidence in developing new fields and existing ones with […]
China oil demand predicted to take off
Wood Mackenzie, the energy consultant, has said China is on track to spend $500bn a year on crude oil imports by 2020, in one of the most bullish forecasts yet of oil demand growth in the world’s second-largest economy. Analysts at the Edinburgh-based group, one of the most respected analysts of the oil market, said […]
Russia in talks to ship oil via Azeri pipeline
Russia is in talks with Azerbaijan to reverse an oil pipeline to ship Russian oil to Europe via Turkey after using it for years to export Azeri oil to Europe via Russia, an Azeri oil executive said on Monday. The move comes as a BP-led pipeline from Azerbaijan to Turkey is being used at only […]
oil & gas logistics 