News about Oil

US allows oil exports for 1st time since 1970s: WSJ The US will allow two companies to export unrefined oil for the first time in four decades, taking steps to break a ban on crude exports, The Wall Street Journal reported.
25 June 2014 12:31
Chevron, Lukoil eyeing new project in Kazakhstan Chevron, Lukoil and other major companies are eyeing a new Eurasia Project in Kazakhstan, an oil production project in the Caspian Lowland.
19 June 2014 13:48
Consortium and Kazakh government agree on stages of Kashagan development Members of the Kashagan project have signed a memorandum with the Kazakhstan Government on stages of the oilfield's development.
18 June 2014 14:43
Transition to new Kashagan operator started in May: NCOC North Caspian Operating Company (NCOC) informed that the transition to a new operator of the Kashagan project started back in May 2014.
18 June 2014 13:12
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 10:52
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 13:08
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 12:36
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 17:46
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 16:44
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 11:18
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 13:40
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 12:03
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 13:20
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 12:54
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 12:17
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 01:06
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 13:50
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 16:33
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 13:26
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 22:33
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