Archives Mensuelles: octobre 2013

Technip sees strong 2014

French oilfield services firm Technip stated Thursday that it has a strong, diversified book of business that will drive revenue growth in 2014. This is despite the firm’s CEO saying that he sees a more strict « discipline » from its oil and gas major clients in terms of capital expenditure. Reporting its third quarter results for […]

Sinopec profit precedes Li’s plan to reduce State role

PetroChina Co. and China Petroleum & Chemical Corp., the country’s largest energy companies, increased profit in the third quarter as a new policy helped them raise fuel prices, foreshadowing Premier Li Keqiang’s plan to reduce state intervention in the economy. China Petroleum, known as Sinopec, reported a 20 percent jump in net income to 22 […]

Petrobras CEO says Libra to enter production in 2020

Brazil’s biggest oil discovery, the offshore Libra area, will not enter production until 2020 and peak output will come at least four years later, the head of state-run oil company Petrobras said last Thursday. Chief Executive Maria das Graças Foster said in a television interview that heavy investment in Libra will begin in 2017 and […]

Total outperforms BP as investors reward spending cuts

France’s Total SA (FP) is the best-performing stock among the world’s five biggest non-state oil companies this year and has overtaken BP Plc in market value. It’s also the only one that’s promised to cut capital spending. All five report third-quarter earnings this week. Chief Executive Officer Christophe de Margerie said last month that Total […]

Oil traders look to Iran’s market return

As Iranian and western negotiators hunkered down for talks on Tehran’s nuclear programme in Geneva last week, oil traders and analysts went into their own war rooms – estimating the speed and quantity of oil the country can bring back to the market should sanctions be lifted. A rapid return of Iranian barrels could push […]

The world’s top 5 most expensive oil & gas cities: #1 Luanda (Angola)

Just over a decade after a long-running civil war that claimed the lives of hundreds of thousands of people, the West African country of Angola is one of the world’s hottest locations for the oil and gas industry today. Angola is the second-largest oil producer after Nigeria, according to Organization of the Petroleum Exporting Countries […]

The world’s top 5 most expensive oil & gas cities: #2 Stavanger (Norway)

Scandinavia has long been regarded as very expensive, even by visitors from other parts of Europe, with a major tourist bugbear being the price of alcohol. This view was confirmed in the summer by ECA International’s cost of living report, which showed that Tokyo had been knocked off its top spot for the first time […]