Hu Kaihong: Good morning, ladies and gentlemen. Welcome to the news briefing held by the State Council Information Office. The Johannesburg Summit and the Sixth Ministerial Conference of the Forum on China-Africa Cooperation ("FOCAC") will ...
After more than doubling its strategic oil reserves since last year, China may apply the brakes to its buying spree as storage availability is expected to be limited, while a climate of depressed prices will reduce any urgency to snap up ...
Tags: Oil Reserve, crude, oil price
A weak crude complex which has seen futures values drop to multi-year lows is only adding to an already depressed Amsterdam-Rotterdam-Antwerp spot propane market, where demand has failed to benefit from any increase in end-user heating ...
Tags: Weak Crude, temperatures, propane
Hundreds of thousands of US stripper wells with production totaling 1 million b/d of crude could be at risk if oil prices fall below $35/b, where prices teetered in recent days, for long, observers say. Stripper wells are wells nearing ...
Tags: crude, oil prices, wells
Oman is close to awarding construction contracts and reaching financial close for its planned Liwa Plastics petrochemicals complex and Salalah LPG plant, sources close to the projects said Monday. Approximately $5.2 billion of funding is ...
Dutch and German gas prices continued to slide Monday morning as weather forecasts remained mild and crude oil weakness weighed on the curve. By midday London time, Dutch TTF day-ahead slipped below Eur16.00/MWh, last trading 37.5 euro ...
Tags: Natural Gas, Oil, crude oil
Russia is against an increase in global crude production, rather than favouring a reduction, and remains pessimistic about the possibility of Moscow and Riyadh reaching a production coordination deal, Russia's energy minister Alexander ...
Tags: crude production, OPEC, oil prices
Crude futures fell Friday after the International Energy Agency said global oil markets will remain oversupplied at least through 2016. NYMEX January crude settled $1.14 lower at $35.62/b. ICE January Brent settled down $1.80 at $37.93/b. ...
East Timor's Kitan condensate will no longer be available in the spot market as the ultra-light oil field reached the end of its normal life, market sources said Monday. "After January, there will be no more [Kitan cargoes]," a trade ...
Tags: ultra-light oil field, condensate, crude
Switzerland-based commodity trading house Trafigura said Monday that falling oil prices, significant volatility, structural oversupply and the emergence of contango price structures have created significant opportunities in the crude and ...
Tags: Trafigura, oil prices, crude oil
Unseasonably strong gasoline demand is proving for US refiners to be the gift that keeps on giving this holiday season, as support from seasonal diesel demand is tamped down by record high temperatures across much of the US. Gasoline ...
Indonesia's state-owned oil and gas company Pertamina has signed a heads of agreement for a $5.5 billion upgrade of the Cilacap refinery with Saudi Aramco, president director Dwi Soetjipto said in a statement Thursday. The project is ...
Tags: crude distillation, refinery, sour crude
Juan Jose Aranguren, the next energy minister of Argentina, said Friday he will seek to rebuild investor confidence in the country by improving business conditions after taking office December 10. "We need, as in other sectors of economic ...
Sanctions on Iran's oil and gas sector could be lifted in the first week of January, according to Amir Hossein Zamaninia, Iran's deputy oil minister for international affairs Saturday, as the country seeks an agreement with OPEC to ...
Tags: Oil, Gas, Iran's oil
Enbridge said it is still eyeing a 2017 start date for the largest pipeline project in company history as oral testimony began in Canada Monday over the Line 3 replacement project. Two weeks of testimony from the First Nations to Canada's ...
Tags: Enbridge's Line 3, pipeline