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2014-05-22 18:15:00

SINOPEC & WEATHERFORD: AIMS TO MARRY

SINOPEC & WEATHERFORD: AIMS TO MARRY

China's Sinopec Group said on Wednesday it has agreed with U.S.-listed Weatherford International to form a joint venture oilfield service company.

The joint entity aims to marry Weatherford's technological and management know-how with the Chinese oil major's ability to expand its upstream business, including in the country's potentially vast shale gas fields, industry officials have said.

reuters.com

Tags: SINOPEC, WEATHERFORD, OIL

Chronicle:

SINOPEC & WEATHERFORD: AIMS TO MARRY
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

SINOPEC & WEATHERFORD: AIMS TO MARRY
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

SINOPEC & WEATHERFORD: AIMS TO MARRY
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

SINOPEC & WEATHERFORD: AIMS TO MARRY
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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