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  • NAIROBI, June 18- Kenya and Uganda could decide by mid-July on the route for a crude pipeline linking their newly found oil fields to the Kenyan coast, a vital step for oil firms to make a final investment decision, a senior Kenyan ministry official said. Oil executives say they cannot make progress with their final investment decision on developing discoveries...

  • BEIJING, June 8- China's oil imports fell about 11 percent in May from a year ago in the steepest drop since November 2013, likely knocking the country off its perch as the world's top crude buyer- a spot it claimed for the first time in April. Lower imports by China, at a time when markets are expected to be oversupplied following OPEC's decision to keep its output...

  • *Seven oil and gas discoveries made in recent weeks. LONDON, May 29- Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector that remains severely bruised by the oil price slump. Seven successful discoveries with potential to become commercial have...

  • *Seven oil and gas discoveries made in recent weeks. LONDON, May 29- Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector that remains severely bruised by the oil price slump. Seven successful discoveries with potential to become commercial have...

  • HONG KONG, May 14- Hong Kong's benchmark share index ended slightly higher on Thursday after Tencent Holdings Ltd, China's biggest social network and online entertainment firm, posted higher-than-expected first-quarter revenues and earnings. Tencent jumped over 3 percent, supporting the Hang Seng index. Separately, China's two largest developers in the...

  • Uganda's 'oil rush' town stuck in the slow lane Sunday, 10 May 2015 | 5:00 AM ET

    *'Oil town' property prices soar as boom takes hold. HOIMA, Uganda, May 10- Before the discovery of large amounts of oil in Lake Albert, Hoima was a forlorn and remote town in Western Uganda, whose main sources of income were farming and the trickle of tourists heading to nearby national parks. "Everybody in the country and the region is looking at Hoima," said Betty...

  • *'Oil town' property prices soar as boom takes hold. HOIMA, Uganda, May 10- Before the discovery of large amounts of oil in Lake Albert, Hoima was a forlorn and remote town in Western Uganda, whose main sources of income were farming and the trickle of tourists heading to nearby national parks. "Everybody in the country and the region is looking at Hoima," said Betty...

  • CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The company, which has a 37 percent stake in the Syncrude project, said its net loss was C $186 million, or 38 Canadian cents per share, compared with a net...

  • Canadian Oil Sands posts loss, says cost cut paying off Thursday, 30 Apr 2015 | 4:50 PM ET

    CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The other Syncrude partners are Imperial Oil Ltd; Mocal Energy; Murphy Oil Corp; Nexen, a wholly owned subsidiary of China's CNOOC Ltd; Sinopec and Suncor...

  • *CNOOC, China Southern Power Grid execs being probed. CNOOC could also not be reached for comment. China's president, Xi Jinping, has warned that corruption threatens the survival of China's ruling Communist Party and his two-year anti-graft campaign has brought down scores of senior officials in the party, the government, the military and state-owned...

  • March 26- Hong Kong shares finished lower on Thursday in line with most Asian markets, which dropped due to tension in the Middle East and losses on Wall Street. But oil giants CNOOC and PetroChina bucked the trend, rising 1.5 percent and 0.9 percent respectively, as oil prices shot up nearly 6 percent after Saudi Arabia and Gulf Arab allies started air strikes...

  • SINGAPORE, March 19- Iraq has notified its exploration partners that it plans to start splitting its southern Basra oil production into two grades due to quality differences, and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Holders of technical service contracts include Lukoil, Petronas, CNPC, CNOOC, BP,...

  • SINGAPORE, March 19- OPEC's second largest producer Iraq has notified its partners that it plans to start splitting its southern oil production into two grades and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Iraq's State Oil Marketing Organization said it will allocate Basra Heavy crude, with an API...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, has begun to cut some 340 employees in North America, and started...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, will cut approximately 340 employees in North America and 60 at its UK...

  • LAUNCESTON, Australia, Feb 27- The market chatter over forming a giant Chinese oil major through merging PetroChina and Sinopec has ramped up again recently, but the motivations for such a deal struggle to stand up to scrutiny. The Chinese authorities are mulling joining China National Petroleum Corp, the parent of PetroChina, and China Petrochemical Corp, the...

  • HONG KONG, Feb 23- Hong Kong shares ended little changed on Monday, with gains in Tencent Holdings offsetting weakness in casino operators and oil firms and as most investors stuck to the sidelines awaiting major corporate earnings later in the week. Conglomerate Hutchison Whampoa as well as property firms including Cheung Kong, Sun Hung Kai Properties and New...

  • *HSBC to announce earnings on Monday, Cheung Kong later the week. HONG KONG, Feb 23- Hong Kong shares dipped on Monday, with oil firms and casino operators leading the slide, as investors awaited direction from major corporate earnings later the week, marking a weak start to the Year of Goat. Property group Cheung Kong and conglomerate Hutchison Whampoa are set to...

  • *China raises initial 2015 oil product export quotas by 20 pct. China controls oil product exports through quotas to state-run refiners after assessing domestic needs. This year Sinopec Corp, CNOOC Ltd and PetroChina were given an oil product export quota of 9.75 million tonnes, up about 20 percent from the initial limit set for 2014, industry sources with...

  • Feb 17- China is considering combining its huge state-controlled oil companies to better compete with the world's biggest producers, the Wall Street Journal reported. Other options include merging China National Offshore Oil Corp, or CNOOC, and Sinochem Group, the report said. China said late last year that it would merge the country's top two state-owned...