Company Overview and News

Opec-Russia talks set to keep oil cuts even as glut vanishes

2018-04-18 themalaymailonline
File picture shows Russian Energy Minister Alexander Novak (left) and Saudi Arabia’s Oil Minister Khalid al-Falih addressing a news conference after an Opec meeting in Vienna November 30, 2017. — Reuters picDUBAI, April 18 — Opec and Russia will meet in Saudi Arabia this week after all but banishing a global oil glut. While looming political crises threaten to tighten supplies further, the group seems determined to keep its cuts in place.
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Rosneft said to focus on debt in meeting with investors

2018-04-13 worldoil
Russia’s largest crude producer told investors and analysts in London on Wednesday that it plans no big acquisitions this year and will cut capital expenditures, while also boosting cash flows due to stronger oil prices, according to participants in the discussions. The state-controlled company said those factors would result in a reduction in net debt this year, according to the people, who asked not to be named because the event wasn’t public.
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Iraq said to delay oil auction after late contract tweaks

2018-04-13 worldoil
The oil ministry re-scheduled the auction for April 25, said one of the people, who asked not to be identified because the information isn’t public. International energy companies will still participate in the bidding because the prospect of prodigious crude reservoirs outweighs the new contract’s lack of clarity, analysts at Wood Mackenzie Ltd. and the Iraq Energy Institute said.
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Russia ETFs Hit by Sanctions and Syria Attack

2018-04-10 zacks
Investors have been pulling out of Russian assets, as latest events spell trouble for such equities. Stocks witnessed their biggest drop in four years after the United States imposed sanctions on Russian billionaires in connection to meddling in the 2016 elections. Moreover, the recent chemical attack in Syria has increased tensions pertaining to U.S.-Russia relations.
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Eni, Qatar said to hold talks for deal on giant Mexico field

2018-04-05 worldoil
The Italian oil major, which currently holds 100% of the offshore find in Campeche Bay and expects to start production in early 2019, would sell 20% to 35% to Qatar Petroleum, the people said, asking not to be named because the negotiation isn’t public. Eni is also in talks with other potential suitors, the people said.
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Italy's Eni Is Said to Weigh Sale of Mexican Oil Stake to Qatar

2018-04-05 rigzone
(Bloomberg) -- Eni SpA is in talks to sell a stake in its giant oil discovery in Mexico to Qatar Petroleum International, according to people with knowledge of the plans.
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ExxonMobil, Total Join Majors Interested in Iraq April 15 Oil Auction

2018-03-29 rigzone
(Bloomberg) -- Exxon Mobil Corp., Total SA and Lukoil PJSC are among international companies interested to win rights to develop 11 oil and gas border fields as OPEC’s number two producer continues to build production capacity.
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European majors join race for Mexico oil bonanza in Gulf waters

2018-03-29 worldoil
Anglo-Dutch giant Royal Dutch Shell Plc, the UK’s BP Plc, France’s Total SA, Italy’s Eni SpA, Spain’s Repsol SA, Russia’s Lukoil PJSC and DEA Deutsche Erdoel AG of Germany all won blocks -- a number of them in partnership with state-owned Petroleos Mexicanos. Among notable absentees were U.S. majors like ExxonMobil Corp. and Chevron Corp., which have grabbed deep-water prospects in a previous round.
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European Majors Join Race for Mexico Oil Bonanza in Gulf Waters

2018-03-28 rigzone
(Bloomberg) -- European oil majors are swarming the shallow-waters of the Gulf of Mexico as the country races to attract investment before an election.
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Trump Fundraiser Offered to Help Lift Sanctions on Russian Firms - Bloomberg

2018-03-23 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
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Cambridge Analytica CEO Sees Claims as Backlash to Trump Win - Bloomberg

2018-03-20 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
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Next entrant in shale revolution? Opec’s Saudi Arabia

2018-03-08 themalaymailonline
A Saudi Aramco employee sits near the Saudi Aramco stand at the Middle East Petrotech 2016 in Manama, Bahrain, September 27, 2016. — Reuters picRIYADH, March 8 — Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas.
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The Next Entrant in the Shale Revolution? OPEC's Saudi Arabia

2018-03-07 rigzone
(Bloomberg) -- Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas.
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Saudis seek to tap shale basin rivaling Texas' Eagle Ford

2018-03-07 worldoil
Saudi Arabia’s gas resources from shale and other alternative supplies are “huge,” Khalid Al Abdulqader, general manager of unconventional resources at Aramco, said Wednesday in Manama, Bahrain. Production at the kingdom’s North Arabia basin will start by the end of March and reach its target by the end of this year, he said, without giving details.
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PetroChina said to agree to 2018 deal to lift Libya oil

2018-03-02 worldoil
The term contract is the Chinese oil producer’s first with Libya’s National Oil Corp. since 2013, according to a person familiar with the matter, who asked not to be identified because they aren’t authorized to speak to the media. BP and Shell also agreed in January to annual deals to buy crude from Libya.
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