LONDON (AFP) – World oil prices fell under 60 dollars per barrel on Tuesday, pressured by the strengthening US currency and weaker European equities, as traders awaited this week’s crucial OPEC output meeting.
New York’s main futures contract, light sweet crude for delivery in July, retreated 1.88 dollars to 59.79 dollars a barrel.
London’s Brent North Sea [...]
BANGKOK (Dow Jones)–U.S.-based oil giant Chevron Corp. (CVX) plans to move ahead with investments in South Asia amid an expected strong economic recovery in the overall region.
“Asia will have the quickest recovery to feed future demand growth. We have strategic locations in Asia to support growth in the long term,” Joe Geagea, managing director [...]
U.S. oil giant Mobil Producing Nigeria Unlimited (MPN) has commissioned a 3.5 billion dollar project designed to boost crude oil recovery, gas commercialization and end gas flaring in its areas of operations, local media reported on Friday.
The project will impact significantly on increased crude oil output, increased reserve, monetization of flared gas volumes and increase [...]
GalachoOlga
BP SOLAR has refused a bailout package and will shut down Australia’s only photovoltaic energy cell plant in March.
Yesterday’s decision was greeted with disappointment by the Federal Government, with spokeswoman for Climate Change Minister Penny Wong saying it was not related to government policy.
Industry Minister Kim Carr added the British oil giant’s move was [...]
LAGOS (AFP) – Gunmen captured an oil firm vessel and its crew in a weekend raid off the shores of Nigeria’s volatile southern Niger Delta region, an army spokesman announced Monday.
“Militants suspected to be from Tompolo’s camp seized one MV Thou Galaxy vessel on the Gbaramatu waterway along Escravos (River),” Lieutenant-Colonel Rabe Abubakar, the military [...]
Oil giant, Chevron, has announced in Cape Town that it is partnering with South Africa and five other world countries as part of it’s $30 million commitment to fight Aids, TB and Malaria through the Global Fund.
The Fund Public and Private Manager, David Evans, says the Western Cape Provincial Health Department will receive $5 million [...]
San Francisco Business Times - by Steven E.F. Brown
Oil giant Chevron Corp. agreed to sell 165 gas stations and other assets in East Africa.
The San Ramon company has been slimming down its “downstream” business in Africa and South America this year, selling off gas stations and associated fuel storage and transport businesses.
In this deal Chevron’s [...]
By Ejiofor Alike
The 450 megawatts Afam Power Station being built by Shell Petroleum Development Company (SPDC) at the cost of $1.3 billion in Okoloma community, Oyigbo Local Government area of Rivers State, has started operation.
SPDC’s Spokesman, Precious Okolobo, said in a statement yesterday that the oil giant as operator of the joint venture has [...]
HOUSTON, Oct 20 (Reuters) - Brazil’s Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz)(PBR.N: Quote, Profile, Research, Stock Buzz) may need to assist its smaller suppliers who are squeezed by the current credit crisis as the state-owned company moves forward to produce oil from its offshore reserves, the oil giant’s president said on Monday.
Jose Sergio [...]
The Associated Press
DUBAI, United Arab Emirates: Abu Dhabi’s Mubadala Development Co. and U.S. oil giant ConocoPhillips said Sunday they have signed a deal with Kazakhstan’s national oil company to drill in a potentially lucrative oil and gas region in the Caspian Sea.
The memorandum of understanding with Kazakhstan’s KazMunayGas tentatively gives Houston-based ConocoPhillips and Mubadala, one [...]
