Russia constructing two power plants in Crimea ABU DHABI, Feb 20 (Reuters) – Russia hopes to get around European Union sanctions by reaching a deal with Iran for the supply of gas turbine equipment for two power plants in Crimea, the head of Russian state defence conglomerate Rostec said on Monday. EU sanctions bar European […]
Russia seeks to avoid sanctions by buying equipment from Iran Read More »
Aramco IPO brings in investment, diversify economy Feb 20 (Reuters) – Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo
Saudi favors New York for Aramco IPO, also considers Toronto, London -WSJ Read More »
Shell LNG sales rose 45 per cent in 2016 LONDON, Feb 20 (Reuters) – Royal Dutch Shell, the world’s biggest liquefied natural gas (LNG) trader following its takeover of BG Group last year, said new LNG customers that will drive demand are looking for shorter and smaller contracts. Shell expects much of new LNG demand
New LNG buyers want shorter, smaller contracts: Shell Read More »
In January, China teapot refiners imported 600,000 barrels of US Gulf Blend By Florence Tan and Liz Hampton SINGAPORE/HOUSTON, Feb 20 (Reuters) – Chinese independent, or teapot refiners are bringing in rare cargoes of North American heavy crude in a new long-distance flow that traders say has only been made possible by OPEC’s output cuts
After OPEC cuts heavy oil, China teapot refiners pull U.S. supply to Asia Read More »
Essar Oil deal valued at $12.9 billion By Vladimir Soldatkin, Alexander Winning and Kira Zavyalova MOSCOW, Feb 20 (Reuters) – A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India’s Essar Oil next month, two Russian sources close to the deal told Reuters. Acquiring the refiner will
Rosneft-led consortium plans to complete Essar Oil acquisition next month Read More »
Algeria refineries valued at $6 billion ALGIERS, Feb 20 (Reuters) – Algeria has attracted 49 offers from international energy companies to build four refineries worth a total $6 billion, a state energy firm Sonatrach source told Reuters on Monday. Algeria is also considering a petrochemicals partnership with the Saudi Arabia’s SABIC, details of which are
Algeria attracts 49 initial international offers for new refineries -source Read More »
Hedge funds’ bullish position in crude futures have not had much impact on oil prices By John Kemp LONDON, Feb 20 (Reuters) – Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices. Hedge funds raised their combined
Opinion: Hedge funds bet big on oil as OPEC gives them a free put option Read More »
Acquisition of portfolio creates leading UK Independent E&P company focused on North Sea Harbour Energy, Ltd., the energy investment vehicle managed by EIG Global Energy Partners, announced it agreed to lead the acquisition by Chrysaor Holdings Limited of a well-diversified portfolio of oil and natural gas assets from Shell U.K. Limited and its affiliates to
Harbour Energy acquisition of Shell UK North Sea assets for $3 Billion Read More »
Norway oil industry watchdog investigated serious incidents and injuries in 2016 By Nerijus Adomaitis OSLO, Feb 20 (Reuters) – Cost cuts by the Norway oil and gas industry appear to have contributed to a rise in accidents in recent years, the head of the country’s Petroleum Safety Authority (PSA) said on Monday. Oil firms have slashed
Cost cuts appear to harm Norway oil industry safety -watchdog Read More »
Jim Mattis distances himself Trump remarks By Phil Stewart BAGHDAD, Feb 20 (Reuters) – The U.S. military is “not in Iraq to seize anybody’s oil“, Defense Secretary Jim Mattis said, distancing himself from remarks by President Donald Trump, as he held talks with Iraqi leaders on Monday. Mattis was the highest-ranking Trump administration official to
Trump’s Defense Secretary Jim Mattis says in Iraq: We’re not here for your oil Read More »
