News
2015, August, 26, 18:25:00
SAUDI'S BUDGET DOWN
Most Middle Eastern stock markets declined amid mounting concern the region’s largest economy will cut spending after oil prices slumped to the lowest since 2009.
2015, August, 26, 18:20:00
SINOPEC DOWN 22%
China Petroleum & Chemical Corp., Asia’s biggest oil refiner, posted a 22 percent decline in profit for the first half of the year as the slump in prices outweighed the benefit of cheaper crude to its refining business.
2015, August, 26, 18:15:00
CNOOC DOWN 56%
Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56 percent decline in profit for the first half of this year.
2015, August, 26, 18:10:00
RUSSIA STOP SCHLUMBERGER
Russia’s Federal Security Service, the main successor to the KGB, is holding up Schlumberger Ltd.’s acquisition of a 46 percent stake in Eurasia Drilling Co., according to two people with knowledge of the matter.
2015, August, 25, 18:20:00
SAUDI LOSE 7%
Stock markets in Saudi Arabia and Dubai closed around 7 percent lower on Sunday on the back of a further slide in oil prices.
2015, August, 25, 18:15:00
IRAN COULD INCREASE
Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the OPEC member are lifted, Iran's oil minister Bijan Zanganeh said on Tuesday.
2015, August, 25, 18:10:00
MOODY'S CUTS CANADA
Moody’s Investors Service on Monday cut the credit rating of Canadian Oil Sands Ltd. to one notch above speculative grade, citing the oil-sands producer’s “elevated leverage” as a result of lower crude oil prices.
2015, August, 25, 18:05:00
CHINA WILL DRILL
Aug 25 A Chinese oil rig at the centre of last year's standoff between China and Vietnam will continue drilling not far from Vietnam's coast, China's maritime safety authorities said on Tuesday.
2015, August, 25, 18:00:00
IRAQ HAS PAID $9 BLN
Iraq has paid foreign oil companies $9 billion in remaining arrears for 2014 and was paying outstanding fees for 2015 in stages until the beginning of next year, its oil minister said.
2015, August, 25, 17:55:00
ROSNEFT REDUCES PLANS
The Russian government has decided not to fund four out of five Rosneft projects for which the oil company had requested financing from the sovereign wealth fund, the economy minister said on Monday.
2015, August, 24, 18:30:00
OIL PRICES DOWN
US crude prices plunged below $40 a barrel for the first time since the financial crisis on Friday, amid increasing signs the year long oil rout still has further to run.
2015, August, 24, 18:20:00
RUSSIA & CHINA DEAL
China and Russia aren’t targeting a deal during the visit as the more than 50 percent slump in crude over the past year complicates talks
2015, August, 24, 18:15:00
U.S. RIGS UP 1
U.S. Rig Count is up 1 rig from last week to 885, with oil rigs up 2 to 674, gas rigs unchanged at 211, and miscellaneous rigs down 1 to 0.
2015, August, 24, 18:10:00
LUKOIL SOLD 50%
PJSC LUKOIL closed a deal to sell its 50% share in Caspian Investments Resources Ltd. to China-based Sinopec. The required permits from the state authorities of the Republic of Kazakhstan were acquired in late July 2015.
2015, August, 24, 18:05:00
CHEVRON WILL ELIMINATE 1,500
Chevron has started to eliminate jobs at its Covington office as part of global layoffs sparked by low oil and gas prices prices. The company has not disclosed how deep the cuts will be.
