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BP: We Have 53.3 Years of Oil Left
In its latest yearly review of energy statistics, BP reported raising its oil reserves estimate by 1.1% to 1,687.9 billion barrels, which is enough oil to last the world 53.3 years at the current production rates, reports Detroit Free Press. According [...]
Rosneft agrees to acquire oil field services from Weatherford
July 13, 2014 – Rosneft (Moscow, Russia) has agreed to acquire certain land drilling and workover assets in Russia and Venezuela. The seller is Weatherford International plc (Geneva, Switzerland). The deal was recently signed by Rosneft [...]
Eni, CNOOC Enter Contract For Exploration in South China Sea
Eni announced that it has inked a new production sharing contract with China’s CNOOC for the exploration of one block offshore Hainan island in the South China Sea. In a statement, Eni said that the Block 50/34 covers an area of about [...]
Indian Oil eyes Turkmenistan-Afghanistan- Pakistan-India pipeline project
Indian Oil Corp is interested in teaming up with GAIL India for implementation of the Turkmenistan-Afghanistan- Pakistan-India natural gas pipeline, reports The Economic Times. According to officials, Indian Oil wants to become partner with [...]
CNPC signs deal to develop oil field in Abu Dhabi
China National Petroleum Corporation (CNPC) signed a deal to produce and export oil in Abu Dhabi, Reuters reports. The company secured the rights to produce and export oil from Abu Dhabi and will help China secure more fuel for its rapid economic [...]
Make A Play For Asia’s Frontier
By Aaron Levitt China and India get much of investors’ attention when looking to Asia – and for good reason. Improving infrastructure, favorable demographics and rising incomes are all positive signs. Yet, in recent years the growth [...]
Asia Crude Oil Tenders Summary-KNOC offers 2 mln bbls Oman
OUTSTANDING ASIA /MIDEAST CRUDE OIL TENDERS: (b = buys / s … SK Energy Dubai ard +$4.65 June 5-10 VIETNAM/PV OIL s:Ruby 2*300KB … Follow this link: Asia Crude Oil Tenders Summary-KNOC offers 2 mln bbls Oman 250 total views, [...]
Sinopec to buy Lukoil’s stake in Kazakhstan for $1.2 billion
OAO Lukoil has agreed to sell its 50% position in Caspian Investment Resources Ltd. to China’s firm Sinopec. Sinopec will pay around $1.2 billion to acquire Caspian. Caspian Investment Resources, through a number of joint ventures, owns [...]
Philippines oil company to buy stake in Frontier Oil
Philippines-based oil company Trans-Asia Oil and Energy Development plans to acquire an unspecified number of shares in Frontier Oil Corp., news agency Interaksyon reports citing the company’s filing with the Philippine Stock Exchange (PSE). Trans-Asia [...]
India unveils policy for shale oil and gas exploration
India has approved a policy to allow state-owned companies to start exploration for shale oil and gas, reports Reuters. India is the world’s fourth-biggest energy consumer. The country intends to move slowly to seek alternatives to expensive [...]
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