Business news

Why This Oil Rally Won't Last...

Oil prices have rallied as traders believe the depths of demand destruction may be coming to an end with economies beginning to reopen. But some analysts are warning that the oil price rally may be premature. ...

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PDVSA Finds Another Rosneft Subsidiary To Do Its Bidding...

The American Petroleum Institute (API) has estimated a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11, compared to analyst expectations of a… ...

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Norway Awards 69 Oil Blocks To 28 Firms To Explore Mature Areas...

Norway awarded on Tuesday 69 new production licenses to 28 companies to explore in areas next to mature developed production areas, securing further exploration on the Norwegian Continental Shelf ... ...

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Will Oil Bulls Rule 2020?...

With the New Year already knocking at the door, long-suffering energy investors are looking to put another disappointing year behind them--and the International Maritime Organization’s sulfur regulations targeting the… ...

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Oil Prices Fall As API Reports A Surprise Crude Build...

The American Petroleum Institute (API) has estimated a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11, compared to analyst expectations of a… ...

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BP Makes Large Gas Discovery Offshore West Africa...

BP has found high quality natural gas reservoirs in all three wells it has recently drilled offshore Senegal and Mauritania in West Africa, the UK oil and gas supermajor ...

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Iran Hits South Korea With Billion Bill For Delivered Crude...

Iran has demanded a payment of billion from South Korea for oil deliveries made in the last few years, according to a report in a South Korean daily that… ...

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Iraq Is Finally Ready To Solve Its Biggest Oil Problem...

The central Iraqi government said it had reached an agreement “in principle” with the government of semi-autonomous Kurdistan on the terms of sharing the oil production of the northern Iraqi… ...

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ExxonMobil expands Singapore refinery to upgrade base-oil production...

ExxonMobil’s refinery in Jurong is the company's largest global integrated refining and petrochemical complex. ...

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Petrobras To Put More Key Oil Assets Up For Sale...

Brazil’s state-run oil company, Petroleo Brasileiro SA, hopes to boost its value by nearly 50 percent by 2021, in part by putting more offshore oilfields up for sale. The oil… ...

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Petronas Deals Blow To Aramco: Won’t Buy Shares...

Malaysia’s state oil company Petronas, which Aramco was courting as a large investor in its upcoming initial public offering, has decided against the investment. “Petronas would like to confirm that… ...

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Russia’s Gazprom Raises B From Stake Sale To Mystery Buyer...

Russia’s gas giant Gazprom sold on Friday 3.6 percent of its voting shares, raising almost US billion in the sale to what appears to be a single mystery buyer.… ...

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Kurdistan Could Soon Start Shipping 250,000 Bpd Of Crude To Baghdad...

The semi-autonomous Iraqi region of Kurdistan may begin deliveries by early next year of around 250,000 bpd of crude oil to the federal government in Baghdad for exports, Iraqi Oil… ...

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The volume of gasification of Bashkiria is approaching 93%...

The level of gasification of Bashkortostan is approaching 93% "Gazprom" continues systematic work on gasification of the region. In the first half of the year it is planned to complete the construction of two inter-village gas pipelines - to the Zaton district of Ufa and to the districts 22, 23, 23a and 24 of Neftekamsk, where housing construction is actively carried out. ...

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Saratov refinery celebrates 85th anniversary...

Saratov oil refinery, a subsidiary of Rosneft, celebrates 85 years since the beginning of production activity — in 1934 the first cracking plant was put into operation at the enterprise and the first products were obtained. ...

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