News Archive

July 2011

Romania fails to sell minority stake in Petrom

Romania has delayed selling its minority stake in oil group OMV Petrom after failing to receive enough competitive bids during a two-week offer period which closed on 22 July.

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China’s crude oil imports from Iran are highest in two years

New figures show that China imported 648,561 barrels per day of crude oil from Iran in June – the highest in more than two years.

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Japan to drill for ‘burning ice’

Japan has announced plans to extract natural gas from seabed deposits of methane hydrate, known as ‘burning ice’.

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Qatar and Malaysia sign 20-year LNG deal

Qatargas will supply Malaysian-based Petronas LNG Ltd with liquefied natural gas (LNG) for at least 20 years from 2013, under a new agreement.

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Gazprom agrees cheaper tariff in confidential agreement

As more European oil companies turn to the courts in their battle to win cheaper tariffs, Gazprom has agreed to lower its rates for Italian firm Edison SpA.

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Coal India seeks go-ahead for Indonesian stake purchase

The world’s largest coal miner, Coal India, is planning to buy a 30 per cent stake in a coal asset in Indonesia.

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May 2011

First quarter production steady, says UK Coal

UK Coal plc has announced that production in the first quarter of 2011 was steady while its net debt was reduced.

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Africa Oil sets up new company for Somalia deal

Africa Oil has set up a new company ahead of planned exploration work in Somalia’s notorious Puntland region.

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Petrel to apply for Iraq drilling licence

Irish oil and gas company Petrel Resources is reaffirming its commitment to Iraq by applying for an oil drilling licence there.

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Petrofac foresees busy second half in Saudi Arabia

Oil services firm Petrofac believes it will see a busy second half of the year through bidding for oil and gas projects in Saudi Arabia.

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Sirius to focus on Nigerian oil assets

Sirius Petroleum plc, a marginal oil and gas investor, has announced plans to focus on the acquisition of Nigerian oil assets.

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Bangladesh to set up coal power company

A new coal power company is to be set up in Bangladesh, following approval from the country’s government.

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April 2011

Russian energy giants in talks to explore oil and gas in Uruguay

Two of Russia’s biggest energy firms have been invited to explore for oil and natural gas in Uruguay.

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Kuwait’s oil exports resume after sandstorm

Kuwait has resumed oil exports after shipments were temporarily halted due to a sandstorm.

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OGX announces Brazilian offshore oil discovery

Oil has been discovered in the Campos basin, off the coast of Brazil.

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China’s natural gas shortage ‘could end from 2015’

Research by China’s largest oil and gas firm suggests that the country’s natural gas shortage could end from 2015 when it starts to import sizeable amounts of the fuel.

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Russian producer raises coking coal prices

Russian coking coal producer Raspadskaya has raised its second-quarter semi-hard coking coal prices to 4,930 roubles (£108) per ton for buyers in the country.

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Thai offshore well is uncommercial

An offshore well in Thailand has been suspended after drill tests found it to be uncommercial..

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March 2011

Saudi Arabia’s February output more than average

New figures have shown that Saudi Arabia produced almost 9.4 million barrels of oil per day in February.

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China announces cap on energy use

China has unveiled a five-year plan to cap overall energy use, with a focus on coal consumption.

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Drilling confirms major oil field

Drilling has confirmed the Enyenra site off the coast of Ghana as a major light oil field.

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Coal to match oil as most-used energy source

Coal is likely to provide the world with virtually as much energy as oil thanks to demand from emerging economies using it to power their advance, according to a report from BP.

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Russia still among largest mineral producers

A new market report on the Russian mining industry has revealed that the country remains one of the world’s largest mineral producers.

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Production at attacked Iraqi refinery ‘back to normal’

Iraq’s oil ministry has confirmed that the country’s largest oil refinery, Baiji, has returned to normal after an attack damaged its main unit.

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February 2011

Iran benefits from higher oil prices

Increasingly high oil prices are empowering Iran and undermining sanctions imposed against it, an analyst has claimed.

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Coal to match oil as most-used energy source

Coal is likely to provide the world with virtually as much energy as oil thanks to demand from emerging economies using it to power their advance, according to a report from BP.

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Occidental to develop Abu Dhabi gas field

American oil and gas company Occidental Petroleum Corporation is to develop one of the Middle East’s largest natural gas fields.

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Russia still among largest mineral producers

A new market report on the Russian mining industry has revealed that the country remains one of the world’s largest mineral producers.

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Tanzania’s natural gas reserves more than double

Further natural gas discoveries off the coast of Tanzania have resulted in the country’s proven reserves standing at 7.5 trillion cubic feet, according to the Eastern African Community (EAC) regional trade bloc.

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Production starts at oil field off Ghana

Output at the newly operational Jubilee oil and gas field off Ghana is expected to reach up to 120,000 barrels per day (bpd) of oil during the first half of 2011.

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