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MOSCOW - Rosneft is the leader of Russia’s petroleum industry, and ranks among the world’s top publicly traded oil and gas companies. The Russian oil major has signed a contract to supply gas to Russia’s electricity provider INTER RAO from 2016. Reports estimate the price of the deal at about $80.6bn. Under the contract, the supply of up [...]
BP has signed the deal to sell its 50% stake in TNK-BP to Russian oil giant Rosneft. This can make the Russian state-owned enterprise the world’s biggest listed oil company. Also, BP expects to have two seats on Rosneft’s nine person board. The deal is due to be completed by the first half of 2013. “This [...]
VICTORIA/CALGARY – Thousands of people gathered today on the B.C. legislature lawn to protest two proposed pipelines carrying oil across B.C. from Alberta. The Northern Gateway protests have been endorsed by unions such as the Communications, Energy and Paperworkers Union, the Canadian Auto Workers, the B.C. Teacher’s Federation, the Canadian Union of Public Employees and the United [...]
FINDLAY, Ohio, Oct. 8, 2012 - Marathon Petroleum Corporation (NYSE: MPC) announced it has signed a definitive agreement to purchase BP’s 451,000 barrel per calendar day (475,000 barrel per stream day) Texas City refinery, three intrastate NGL pipelines originating at the refinery, an allocation of BP’s Colonial Pipeline Company shipper history, four terminals, retail marketing contract [...]
MOSCOW – Rosneft is the leader of Russia’s petroleum industry and ranks among the world’s top publicly traded oil and gas companies. Rosneft, Russia’s largest oil company plans to invest $36 billion in the development of Venezuelan oil in the coming 40 years, according to Igor Sechin, the company’s president. The Company is primarily engaged in [...]
Brent remained steady at US$103 a barrel on Wednesday as worries about oil demand from the troubled euro zone and the US offset any gains to oil prices sparked by concerns about supply from the Middle East. Oil rose for the first time in three days as clashes in Syria raised tension in the Middle [...]
The Organization of the Petroleum Exporting Countries, left its forecast for 2012 growth in world oil demand unchanged at 0.9 million barrels a day, saying it expects growth to slow to 0.8 million barrels a day in 2013 due to a continuing global economic In its monthly report, the organization said it expects non-OPEC oil [...]
WASHINGTON – The U.S. pipeline regulator on Monday slapped a $3.7 million fine, the largest penalty ever imposed, on Enbridge Inc for a July 2010 crude oil spill which contaminated stretches of the Kalamzoo River in Michigan. The Transportation Department’s Pipeline and Hazardous Materials Safety Administration (PHMSA) said its probe uncovered two dozen regulation violations [...]
Oil and Natural Gas Corp , India’s biggest state-owned energy explorer, is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5-billion, a source with direct knowledge of the situation told Reuters on Tuesday. With initial bidding to start soon there is likely to be competition from other global parties including another [...]
According too Reuters, Saudi Aramco’s crude oil output in 2011 rose to 9.1m bpd from 7.9m a year earlier, the state oil firm said in an annual review released on Monday. “In 2011, the company supported global energy security and petroleum market stability through the continuing reliability of its operations and its investment [...]
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