Archive for August, 2016
Pemex refinery partnerships sought to boost efficiencies
Pemex refinery partnerships yet to be defined MEXICO CITY, Aug 30 (Reuters) – Mexico’s Pemex will seek partnerships with other companies to make its refineries more efficient, the head of the state oil giant said on Tuesday, citing its successful joint venture with Royal Dutch Shell in Texas. Pemex, which is grappling with a complex financial […]
Iraq’s Qayyara oilfields won’t return to production before Mosul retaken
Qayyara oilfields recaptured from ISIS militants by Iraqi military BAGHDAD, Aug 30 (Reuters) – Iraq doesn’t expect to resume production from the northern Qayyara oilfields before the capture of nearby Mosul from Islamic State, an oil ministry spokesman said on Tuesday. The region’s two main fields, Qayyara and Najma, used to produce up to 30,000 barrels per […]
Statoil’s exploration chief sees oil supply crunch ahead
Oil supply gap will open up by 2040: Tim Dodson By Karolin Schaps and Gwladys Fouche STAVANGER, Norway, Aug 30 (Reuters) – Energy companies are not exploring enough and heading for an oil supply crunch in the coming decades, Statoil‘s exploration chief said on Tuesday. The industry has been slashing jobs, projects and investments to cope with […]
Iraq blacklists tankers involved in shipping Kurdish crude
Kurdish crude exported via Turkey By Dmitry Zhdannikov LONDON, Aug 30 (Reuters) – Iraqi state oil firm SOMO has blacklisted three tankers involved in shipping Kurdish crude, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue. Kurdistan has been exporting crude independently via Turkey since mid-2015 after saying Baghdad had […]
Oil fires cast black cloud over Iraqi town retaken from Islamic State
About a dozen oil fires still burning days after battle By Stephen Kalin QAYYARA, Iraq, Aug 30 (Reuters) – It gets darker earlier these days in the northern Iraqi town of Qayyara, which Islamic State militants abandoned about a week ago after setting fire to many of the region’s oil wells. Smoke billowing into the […]
First phase Iran oil tenders planned to begin in late Sept.
First of the Iran oil tenders expected to be South Azadegan oilfield BEIRUT, Aug 30 (Reuters) – Iran plans to hold an oil and gas bidding round for foreign firms from late September, Ali Kardor, managing director of the National Iranian Oil Company (NIOC), was quoted as saying by the oil ministry’s news agency SHANA […]
Oil companies deepen cost cuts as price recovery remains elusive
Oil companies see oversupply extending into 2017 By Gwladys Fouche and Karolin Schaps STAVANGER, Norway, Aug 30 (Reuters) – Oil companies are deepening cost cuts through efficiency and standardisation to stay profitable while maintaining dividends as a supply glut pushes back a potential recovery in the price of crude, top executives and analysts said. The […]
Shell Gulf of Mexico fields sale to EnVen kicks off global oil asset disposals
Shell seeks to sell $30 billion of assets by 2018 By Ron Bousso LONDON, Aug 30 (Reuters) – Royal Dutch Shell’s first oil field sale after its $54 billion BG Group acquisition bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signalling buyers will meet its expectations on value. The […]
Oil prices fall on strong dollar, crude glut; storms limit losses
Oil prices down, crude stockpiles up By Barani Krishnan NEW YORK, Aug 30 (Reuters) – Oil prices fell Tuesday, with Brent losing nearly 2 percent, as the dollar rallied and glut worries grew amid forecasts for higher U.S. crude stockpiles and Iran’s remark that it was on target to reach peak production. News that energy firms […]
Statoil to drill Norway’s northernmost oil well next year in Barents Sea
Statoil Korpfjell prospect located 260 miles north of mainland Norway By Gwladys Fouche STAVANGER, Norway, Aug 30 (Reuters) – Oil firm Statoil will drill Norway’s northernmost oil well next year in the Barents Sea, where it believes a significant oil discovery can be made, an executive said on Tuesday. The company will drill the Korpfjell prospect 418 […]
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