News / International
Strikes in US Refinaries Decrease Libyan Exports and Boost Crude
WTI crude (CLH5: $51.2 +3.2%) and Brent crude (LCOH5: $56.7 +3.6%) are trading higher for a third day as they continue to find support from the strike action at refineries in the US and a slump in Libyan exports. The potential for reduced supplies of motor fuel have led to strong rallies in gasoline and gas oil, which have in turn supported crude oil.
Gazprom Neft Begins Shale Oil Project in Western Siberia Field
JSC Gazprom Neft reported start of shale oil production from the Bazhenov formation during tests of two wells in southern Priobskoye field in central western Siberia. Tests are planned for two other wells.
Shale Gas Exploitation in Algeria Doesn’t Impact the Environment
Algiers — The exploitation of shale gas "has no impact" on environment, said Monday in Algiers Minister of National Planning and Environment Dalila Boudjemaa.
Abu Dhabi Cutting Oil Prices to Six-Year Low
Abu Dhabi, the desert emirate holding about 6% of the world’s oil, cut export prices for its crude for the seventh consecutive month and to the lowest since 2009 amid a global price slump.
Qatari Drilling Outfit Makes Record Profits
Qatar’s Gulf International Services (GIS) on Tuesday reported a 108.4% increase in net profit last year after strong growth in the company’s drilling sector and a one-off non-cash accounting adjustment.
Kuwait: Exclusive Dry-Dock Maintenance Deal
In a celebration held at KOTC Head Office, Kuwait Oil Tankers Company signed a comprehensive dry-docking agreement with Bahrain-based Arab Shipbuilding & Repair Yard Company (ASRY), which is one of the world’s largest leading companies in ship and rig repair and maintenance industry.
Nigeria’s Missing oil Revenues to Impact Presidential Election Polls
Goodluck Jonathan, the Nigerian president, has received a long awaited audit into billions of dollars of allegedly “missing” oil revenues just 11 days before a closely fought presidential election.
EnQuest Drops Tunisia Farm-in Deal
EnQuest has exited from its proposed farm-in to Tunisia’s Didon oilfield and the Zarat permit after failing to receive approval within the time frame.
