News

Nigeria's July oil revenue drops 7% on month on output, export disruptions

Nigerias oil revenue in July fell 7% month on month to Naira 483.5 billion ($3.02 billion) due to disruptions to crude production and exports at facilities operated by Shell and Total in the Niger Delta, the finance ministry said late Tuesd......【more】

2014-12-25

ANALYSIS: Weak oil prices reinforced through steeper light sweet discounts, options hedging

Many analysts have chalked up the recent weakness in prompt oil futures to a stronger dollar, weakening global demand and unabated supply length due to the US shale revolution. And even as some wonder if sustained lower prices will impact l......【more】

2014-12-25

Low oil prices could kill LNG projects, cause gas shortage by 2023

Asian gas buyers face possible supply shortages as early as 2023 if final investment decisions for 50 million mt/year in new LNG projects are not made soon, given low crude prices and industry weakness, Woodside Energy CEO Peter Coleman sai......【more】

2014-12-25

Indonesia plans to build oil refinery

JAKARTA, Nov. 14 (Xinhua) The Indonesian government would soon build oil refineries to meet with rising energy demand and slash the countrys huge oil import that has widened current account shortfall, a minister said here on Friday. Energy......【more】

2014-12-25

Investment 'welcome' in oil and gas

The government will encourage private-sector investment in liquefied natural gas terminals and oil and gas storage and distribution facilities, a senior official at the National Energy Administration said on Thursday. Liu Deshun, director-g......【more】

2014-12-25

Oil majors warned to tread carefully when bargains arise

Chinese oil companies are being warned to be wary of asset quality before making any overseas acquisitions. Han Xiaoping, chief information officer at the China Energy Net Consulting Co, said on Tuesday that after six months of oil price fa......【more】

2014-12-25

Nigeria proposes $78/b oil price benchmark for 2015 budget

Nigeria is proposing an oil price benchmark of $78/barrel for the purposes of revenue calculations in its 2015 budget, according to a government paper seen Thursday, amid concerns over falling oil prices in the international market. The 201......【more】

2014-12-25