News about Oil
Shell reduces holding in Woodside
Royal Dutch Shell on Tuesday announced it was reducing its stake in Australia's Woodside Petroleum, selling Aus$5.3 billion (US$5.0 billion) in shares as it focuses its Australian growth in directly-owned assets.
17 June 2014
Pentagon temporarily grounds F-35 fighter jets
The US military temporarily grounded its entire F-35 Joint Strike Fighter jet fleet at the weekend after an apparent engine oil leak, the latest glitch for the much-vaunted program.
16 June 2014
John D. Rockefeller great-grandson dies in plane crash
Richard Rockefeller, great-grandson of US oil tycoon and philanthropist John D. Rockefeller, died Friday in a plane crash in New York. He was 65.
14 June 2014
Russian oil to reach China via Kazakhstan
The Lower House of the Kazakh Parliament (Majilis) has adopted a draft law to ratify the agreement between Kazakhstan and Russia on cooperation in transportation of Russian oil to China via Kazakhstan.
11 June 2014
Exxon may take over as Kashagan operator
Exxon Mobil, an American major multinational oil and gas corporation and world’s third largest company by revenue, may take over as Kashagan's new operator.
07 June 2014
Two hurt in Shell plant blaze in the Netherlands
A massive explosion at a Shell oil plant in the Netherlands followed by a fire left two people injured Wednesday, authorities said.
04 June 2014
El Salvador joins cut-rate oil grouping
El Salvador on Monday announced it has joined Petrocaribe, the Venezuelan energy subsidy program that gives access to cut-rate oil.
03 June 2014
Pirates free Indonesia-bound Thai tanker after cargo theft
Pirates have released an Indonesian-bound Thai tanker after stealing its oil cargo, in the latest attack in Southeast Asian waters, the International Maritime Bureau said.
02 June 2014
Venezuela to repay $2 bn of debt to local importers
Venezuela announced Friday it would repay a small part its debt to local importers, after currency controls have sparked mass shortages of basic goods in the oil-rich country.
31 May 2014
Norway removes Greenpeace ship from contested Arctic drill site
Norwegian coastguards on Friday removed a Greenpeace ship from a controversial Arctic drilling site where it was trying to prevent oil explorations, the environmentalist group said.
31 May 2014
Spain okays Repsol plan for Canary Islands exploration
The Spanish government on Thursday gave oil giant Repsol the green light to explore for oil and gas off the coast of the Canary Islands, a move that environmental groups described as "unjustifiable".
30 May 2014
Shuvalov outlines Eurasian Economic Union timeframe and benefits
Prominent Russian politician Igor Shuvalov talked about benefits of the Eurasian Economic Union in Kazakhstan's Astana.
30 May 2014
Oil tanker listing off Japan after huge explosion
A 998-tonne oil tanker was listing off the Japanese coast Thursday after a large explosion and subsequent fire that sent towering columns of acrid smoke into the sky.
29 May 2014
New operator for Kashagan to be launched by September 2014
The new operator will comprise best specialists employed with member companies of the consortium: Oil Minister Uzakbai Karabalin.
27 May 2014
Kazakhstan to value national parks over mineral resources: Baigarin
Kazakhstan National Geographic Association urges to protect 30% of Kazakhstani land from economic activity.
26 May 2014
Vice Minister of Oil and Gas on Kashagan
According to the country’s Minister of Economic Affairs Yerbolat Dossayev, the suspension of the project resulted in losing 0.5% of the GDP in 2014.
22 May 2014
Kazakhstan’s oil service market to accommodate $200 billion investments in the following 13 years
At least 50 000 jobs will be created to accommodate Kazakhstan’s workforce: Yerlan Muratov, Vice Chairman of the Board at Kazakhstan Engineering National Company.
22 May 2014
Shymkent Oil Refinery modernization to involve 890 foreigners
890 foreign experts will be involved in reconstruction and modernization of the Shymkent Oil Refinery in southern Kazakhstan.
22 May 2014
Philippine, Vietnamese join anti-China street protest
Several hundred Filipino and Vietnamese protesters united in a march in the Philippine capital on Friday, demanding that China stop oil drilling in disputed South China Sea waters.
17 May 2014
KazMunaiGas discovers new oil
KazMunaiGas Exploration Production JCS has announced a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field.
16 May 2014