News about Oil

Clients take a licking in Malaysia 'cheese' massage: report Dodgy Malaysian "spas" are dispensing with the massage oil in favour of cream cheese in a kinky new offering in the country's bustling erotic massage industry.

04 November 2013

ConocoPhillips completes sale of Kashagan share to KMG and views Kashagan as non-core asset The main reason why ConocoPhillips sold its share in the gigantic pie that everyone wants a bite from has nothing to do with the complexity of the field or the bulging expenses of the consortium to develop it.

31 October 2013

Suspended production at Kashagan may disrupt Kazakhstan’s plan of producing 82 million tons of crude in 2013 According to Kazakhstan geologists, geological reserves of Kashagan are estimated at 4.8 billion tons of oil.

31 October 2013

TengizChevroil to resume oil shipments through Baku – Tbilisi – Ceyhan The consortium has already designated the Aktau tanker to transport crude from Aktau to Baku to be further pumped to the pipeline.

29 October 2013

Managing Director of Agip KCO resigns Managing Director of Agip KCO Umberto Carrara is going to be replaced by Guido Brusco after November 1.

29 October 2013

Oil-rich Kuwait warns welfare state unsustainable Oil-rich Kuwait said Monday that the generous cradle-to-grave welfare system provided to its 1.2 million citizens was "unsustainable" and it was time for change.

29 October 2013

Magzum Mirzagaliyev appointed Kazakhstan's Vice-Minister of Oil and Gas Magzum Mirzagaliyev has been appointed the new Oil and Gas Vice-Minister of Kazakhstan.

24 October 2013

Chinese firms to star in upcoming Brazil oil auction Chinese oil giants CNOOC and CNPC will be in a prime position in next week's first auction of deep-water concessions in Brazil's coveted Libra oilfield.

18 October 2013

Australia, US, France urge Antarctic protected areas Australia, New Zealand, the United States, France and the EU on Wednesday stepped up pressure on Russia for a swift agreement to create vast Antarctic marine sanctuaries.

16 October 2013

Leaking wells may cause ecological disaster at Caspian Sea There are currently around 1,400 leaking wells in the Caspian sea area; 128 of them are underwater: Atyrau Oblast Akim.

14 October 2013

Venezuela holds US-operated oil ship in spat with Guyana Venezuela on Friday said it has detained a US-operated oil exploration ship sent from Guyana in disputed waters off its coast, in a fresh border spat between the two neighbors.

13 October 2013

Kashagan oil may be partially supplied to China Every participant of the consortium has a right to sell oil individually and, thus, the route, destination and prices depend on the participants of the consortium working at Kashagan: Minister.

10 October 2013

Global oil production will peak in 2030s: Minister Energy consumption is expected to grow 30-40 percent by 2030: Kazakhstan Oil and Gas Minister.

09 October 2013

Oil production at Kashagan reaches 60 thousand barrels per day Kazakhstan and its partners have been waiting for this for over 10 years: Sauat Mynbayev.

09 October 2013

Third string of Kazakhstan-China pipeline to be launched in 2016 We currently transport over 63 billion cubic meters of gas to China via two strings of this pipeline. Construction of the third string has started and it is scheduled to be launched in 2016: Sauat Mynbayev.

08 October 2013

Shymkent refinery suspended for overhaul Shymkent oil refinery has been suspended for 30 days.

08 October 2013

Singapore, China giants 'mull Spain gas investment': report Singapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion-euro stake in Spain's Gas Natural.

08 October 2013

Saudis take to Twitter to demand better pay Despite their country boasting the world's greatest oil wealth, many Saudis complain their salaries are not enough to make ends meet, and are taking to Twitter to demand more money.

07 October 2013

Crude production resumed at Kashagan oilfield “October 6, upon completion of all the repairs, the wells at the oilfield have been restarted (…) production was resumed with no complications”, according to the country’s Oil and Gas Ministry.

07 October 2013

US set to be top oil, gas producer in 2013: EIA The United States could push past Russia and Saudi Arabia as the world's largest single producer of oil and of natural gas this year.

07 October 2013

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