When the oil price crashed last year, many assumed that the earliest casualties would be the small, nimble American companies that specialise in getting “unconventional” oil out of shale, tar-coated sand and the like. After all, ...
Tags: Oil Price, falling price
Rising production costs and falling global crude prices are prompting Chinese oil companies to reduce output and explore other options for sustainable profit growth in the long term, a leading industry expert said on Tuesday. Part of the ...
Tags: crude prices, Crude Oil
Oil closed up on Wednesday for the first time in five days as traders took stock of the market's rout after crude prices lost nearly 10 percent over two days and benchmark Brent fell to below $50 a barrel. A decline in Brent crude futures ...
Tags: Crude Oil, crude futures
The increase in the availability of electric vehicles has the potential to disrupt the fuel retail operations of supermarket giants Woolworths and Coles, according to market research organisation IBISWorld. Fuel retailers such as ...
Tags: electric vehicles, Agriculture
Russia exxon mobil oil companies and the United States announced that the two sides had reached an agreement, a joint exploration and mining of the Russian arctic shelf oil and gas on August 30. This is the most important cooperation ...
East Africa is undergoing a major transformation to become a new world-class player on the energy market. By 2025, east Africa is expected to experience an incremental production growth of nearly one million barrels per day (b/d), led by ...
Tags: energy market, Hydrocarbon
China has slashed its official target for shale gas production in the medium term by up to a third and now expects to achieve 30 billion cubic meters of output by 2020, according to the country's Ministry of Land and Resources at a briefing ...
Vietnam's state-owned Petrolimex, which accounts for more than half of domestic oil product sales, cut its diesel and kerosene retail prices marginally but kept gasoline and fuel oil rates unchanged, effective late Thursday, according to a ...
The World Bank will fund infrastructure projects worth $245 million to revamp facilities in Uganda's Albertine oil region, ahead of first oil production in the country, Uganda's President Yoweri Museveni said in a statement Thursday. ...
Tags: Infrastructure Funds, Oil
The World Bank has called on Bangladesh to raise domestic natural gas prices after five years without an increase. "The administered price of domestically produced natural gas is fixed at a level considerably below that of the ...
Tags: Natural Gas, Domestic Prices
The global LNG market will remain tight through the end of the decade as growing demand in Asia, South America and Europe outpaces supply constrained by high costs and underdeveloped infrastructure, according to a study released Thursday by ...
Tags: LNG Market, LNG demand
State-owned China Petroleum and Chemical Corp, or Sinopec Corp, posted modest gains in its 2013 upstream and downstream oil and gas production and has pledged to reduce its capital expenditure this year. In its annual financial results ...
Tags: Sinopec, Oil, Gas Output, Chemicals
Not content with selling gas domestically, some of China's private gas distribution companies are becoming increasingly ambitious and are planning to enter the LNG import business, competing directly with state-owned LNG buyers such as ...
Tags: Gas, LNG Imports, Natural Gas
The changing political situations in the Middle East are focusing attention on possibly significant increases in energy production, but countries that could produce that energy still face significant hurdles, according to a panel of Middle ...
Tags: energy production, Mineral
IT spending by oil and gas companies across the Middle East and Africa in 2014 will primarily be driven by ambitious infrastructure investment plans, the modernisation of operational processes, and the quest to add more value to the ...
Tags: Oil, Gas, Computer Products, IT