News / International
Oman on Path to Absorbing Vitol’s Oi Trading Joint Venture
Oman will take full control of an oil-trading venture it owns with Vitol Group, the world’s largest independent energy trader, in the latest sign of the rise of state-owned commodities traders.
Saudi Arabia Measuring Influence on OPEC and Oil Traders
Saudi Oil Minister Ali al-Naimi is counting on oil traders to keep sitting on near-record volumes of stockpiled crude to prevent a second relapse in oil prices later this year.
Buhari Plans to Keep Oil Portfolio Away from New Nigeria Cabinet
President Muhammadu Buhari is likely to keep the oil portfolio for himself in the new Nigerian cabinet, rather than trust anyone else with the source of most of Nigeria's revenue and traditional fount of corruption, associates say.
Introduction of Fracking in Spain Causes Concern
Thousands of people in Spain have organised to protest the introduction of “fracking” – a controversial technique that involves pumping water, chemicals and sand at high pressure into shale rock to release gas and oil.
Oil Decline Leads Explorers in Africa to Consider Mergers
The drop in oil prices will probably spur smaller oil and gas explorers in Africa to consider mergers to fund their ambitions, according to Pura Vida Energy NL.
China Starts Construction on Pipeline to Bring in Russian Gas
Russian state gas company Gazprom says China has started construction on a pipeline to bring Russian gas to China.
Major US Pipeline Company Shells Out $2.15b for Texas Pipelines
Enterprise Products Partners LP, one of the largest pipeline companies in the U.S., will buy Texas oil and gas pipelines and processing plants from Pioneer Natural Resources Co. and Reliance Industries Ltd. for $2.15 billion.
Russian Oil Output Remains at Post-Soviet High Ahead of OPEC Meeting
Russian oil output remained unchanged in May at a post-Soviet high of 10.71 million barrels per day (bpd), Energy Ministry data showed on Tuesday, three days before OPEC meets to decide on output levels.
