Italian energy company Eni started closing the flow stations on a large Nigerian pipeline because of a fire.» Read More
LOS ANGELES, Dec 12- Chevron Corp raised the cost of its giant Gorgon liquefied natural gas project in Australia by $2 billion on Wednesday, the second increase in just over a year to take the total cost to $54 billion.
Dec 11- Chevron Corp, the second-largest U.S. oil company, said it plans to spend $39.8 billion on projects and exploration in 2014, about 5 percent below the expected 2013 spending.
*Two new pipelines set to drain oil from Cushing. NEW YORK, Dec 11- Crude oil futures prices fell on both sides of the Atlantic as a U.S. inventory report showed a build in gasoline stocks and Libya said its ports could reopen by the weekend, raising the prospect of more crude in the world market.
LONDON, Dec 11- Oil rose above $109 a barrel on Wednesday, erasing earlier losses after closely-watched U.S. inventory data showed the biggest draw on crude oil stocks this year.
*Two new pipelines set to drain oil from Cushing. LONDON, Dec 11- Oil edged down below $109 a barrel on Wednesday, shrugging off forecasts of surging global demand from the west's energy watchdog, while the market awaited U.S. data that is expected to show a drop in crude stockpiles.
*Two new pipelines set to drain oil from Cushing. LONDON, Dec 11- Oil held steady above $109 a barrel on Wednesday, shrugging off predictions from the West's energy watchdog of rising global demand as the market awaited U.S. data that is expected to show a drop in crude stockpiles.
*Two new pipelines set to drain oil from Cushing. SINGAPORE, Dec 11- Brent held steady above $109 a barrel on Wednesday as traders focused on the narrowing of its spread with U.S. futures ahead of U.S. inventory data that is forecast to show a drop in crude stockpiles.
*Two new pipelines set to drain oil from Cushing. SINGAPORE, Dec 11- Brent drifted above $109 a barrel on Wednesday as traders focused on the narrowing of its spread with U.S. futures ahead of U.S. inventories data that is forecast to show a drop in crude stockpiles.
SINGAPORE, Dec 11- Brent drifted above $109 a barrel on Wednesday as traders focused on the narrowing of its spread to U.S. futures ahead of U.S. inventories data that is forecast to show a drop in crude stockpiles.
SINGAPORE, Dec 11- U.S. oil futures traded at their highest in six weeks above $98 a barrel on Wednesday after U.S. data showed a larger-than-expected drop in crude inventories.
*Nigeria is Africa's 2nd largest economy, top oil producer. ABUJA, Dec 10- Nigeria's state-energy company NNPC hasn't accounted for nearly $50 billion in revenue from the sale of crude oil which should have been paid into government accounts under law, the central bank has said.
*Document-heavy bills of lading slow and cumbersome. LONDON, Dec 10- When importing a single cargo by sea requires an average of 36 original documents and 240 copies from 27 parties, the only wonder is that it has taken so long for trade houses and miners to embrace electronic shipping documents.
*E&P spending to rise more than 7 pct in North America. The Big Oil companies-- Exxon Mobil Corp, Chevron Corp, Royal Dutch Shell Plc and Total SA and BP Plc-- though not targeted by activist investors are also under pressure to boost returns.
BEIJING, Dec 6- A $6.4 billion gas project being built by Chevron in China is facing further delays due to disagreements with partner PetroChina over how to develop the technically tricky fields, three industry sources said.
*Iran's Hosseini says Tehran wants to revive ageing oilfields. VIENNA, Dec 5- Iran's leading oil negotiator says Tehran wants Western oil companies to revive its giant ageing oilfields and develop new oil and gas projects once sanctions are lifted.
WELLINGTON, Dec 5- New Zealand has awarded deepwater petroleum exploration permits to Norway's Statoil and Australia's Woodside Petroleum Ltd, which join other overseas companies already looking to tap the nation's energy resources.
Dec 4- Royal Dutch Shell Plc aims to return to Alaskan offshore drilling next July by deploying an upgraded drillship in the Chukchi Sea, while keeping a newly contracted backup drillship ready if needed, according to plans released on Wednesday. Transocean's Polar Pioneer would provide backup.
VIENNA, Dec 4- Iran on Wednesday named seven Western oil companies it wants back in its vast oil and gas fields once international sanctions are lifted and said it would offer contract terms in April next year.
*Gazprom pipeline gas export monopoly to stay in place. MOSCOW, Dec 3- Russia's three new liquefied natural gas projects will find plenty of demand in a growing Asian market, without conflicting with Gazprom's monopoly on pipeline gas exports, Energy Minister Alexander Novak told Reuters.
VIENNA, Dec 3- Iraq is planning to lift oil output by more than a million barrels a day to over 4 million bpd in 2014, in what would be the country's biggest oil supply increase since the fall of Saddam Hussein a decade ago.