India has raised the size of the first phase of a planned strategic crude reserve by 33 per cent, a government source close to the project said yesterday, but may not complete the entire storage by its earlier 2010 target.
Saudi Arabia has started setting up a 35,000-strong security force to protect its oil infrastructure from potential terrorist attacks, according to reports.
Oil-parched Jordan said it was due to take delivery, within days, of much-delayed supplies of Iraqi crude oil at preferential rates under a year-old agreement with Baghdad.
Iranian caretaker Oil Minister Gholamhossein Nozari said he believed Opec's current crude oil production was enough and did not expect the group to change output when it meets next month.
The Abu Dhabi National Energy Company PJSC (ADSM: TAQA) announced today the purchase of Pioneer Canada, a subsidiary of the US firm Pioneer Natural Resources Company (NYSE:PXD) for USD 540 million.
Lower oil prices dented first-half earnings at oil giant PetroChina and offshore specialist Cnooc, but helped Asia's top refiner Sinopec, though rebounding crude prices may reverse their fortunes in the second half.
DeepOcean ASA has been awarded a Letter of Intent from Enagas S.A. (Spain) to perform ROV offshore pipeline inspection of two gas pipelines in the Straits of Gibraltar between Morocco and Spain.
Indonesian energy companies Pertamina and Medco Energi Internasional along with Japan's Mitsubishi Corp are to begin building a liquefied natural gas refinery next year, the companies said.