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Iraq West Qurna Oil Output To Triple In Next 3 Years - Lukoil

Παρ, 13 Μαΐου 2011 - 17:06

OAO Lukoil's (LKOH.RS) development of the West Qurna field with partner Statoil ASA (STO) is expected to yield 150,000 barrels of oil a day by 2013, with production increasing to around 400,000-500,000 barrels a day by 2014, Gati Al-Jebouri, executive director and chief commercial officer of Lukoil Mid-East said at a conference Friday.

IEA: Concerned About Increase In OPEC's Preferred Oil Price

Παρ, 13 Μαΐου 2011 - 17:06

The International Energy Agency is concerned that the preferred oil price level of the Organization of the Petroleum Exporting Countries is creeping steadily higher, and that this could harm the world economy, said the head of the agency's oil industry and markets division David Fyfe Friday.

Novatek 1Q Net Profit Up 69% To RUB18.9 Bln On Higher Sales

Παρ, 13 Μαΐου 2011 - 17:06

OAO Novatek (NVTK.RS), Russia's biggest independent natural gas producer, Friday said first-quarter net profit rose 69% to 18.85 billion rubles ($677.0 million) due to higher oil and gas sales, cost optimization and foreign exchange gains.

Total To Explore For Shale Gas In Poland With Exxon Mobil

Παρ, 13 Μαΐου 2011 - 17:06

French oil major Total SA (TOT) said Friday it agreed with U.S. oil firm Exxon Mobil Corp. (XOM) to seek shale gas in the Chelm and Werbkowice areas in Poland.

Petrobras 1Q Profits Likely Hindered By Pricing

Παρ, 13 Μαΐου 2011 - 17:05

Benefits of high oil prices on Petrobras' (PBR) 1Q earnings will likely be mitigated by the government's pricing policy, says Deutsche Bank. The refining division should report EBITDA just shy of break even, as higher crude oil wasn't fully passed through to consumers due to price controls, firm says.

BP CEO: Won't Invest In Biofuels At Expense Of Food Security

Παρ, 13 Μαΐου 2011 - 17:05

BP PLC's (BP.LN) plans to invest $1.5 billion in biofuels in 2011 but won't do so at the expense of food security in the countries where it does invest, Chief Executive Robert Dudley said Friday.

Petronas to Build $20 Billion Malaysia Oil, Chemical Hub Next to Singapore

Παρ, 13 Μαΐου 2011 - 16:04

Petroliam Nasional Bhd.,Malaysia’s state oil and gas company, will build a $20 billion refining complex borderingSingaporeto benefit from increased global demand for petrochemicals and plastics.

BP Faces Arctic Pact Lawsuit

Παρ, 13 Μαΐου 2011 - 16:02

A minority shareholder in BP's Russian venture TNK-BP reportedly intends to sue the UK supermajor in a Siberian court over its alliance with Rosneft.

DryShips Wins Petrobras Race

Παρ, 13 Μαΐου 2011 - 16:01

Greek player DryShips has won the race to provide deep-water drilling rigs to Brazilian oil giant Petrobras in two deals worth $1.1 billion.

Bulgaria Opens Storage Facility For Spent Nuclear Fuel

Πεμ, 12 Μαΐου 2011 - 17:20

Bulgaria Thursday opened its first dry cask storage facility for spent fuel from its sole nuclear power plant at Kozloduy on the banks of the Danube.

Iran Expert Alarmed By Critical Caspian Sea Pollution

Πεμ, 12 Μαΐου 2011 - 17:19

The level of industrial and oil pollution in the Caspian Sea has reached a "critical condition," an Iranian ecological expert warned, quoted by local media on Thursday.

Shell Says Eliminating Oil Tax Breaks Will Affect Supply, Prices

Πεμ, 12 Μαΐου 2011 - 17:19

As Democrats look to repeal tax breaks given to the oil and gas industry, Royal Dutch Shell PLC (RDSA, RDSA.LN, RDSB, RDSB.LN) President Marvin Odum said in congressional testimony Thursday that lawmakers may think "there is something to gain by taking more from a few," but that they should consider the effects of higher taxes "on both supply and price" of oil.