Oil | Egypt Oil & Gas - Part 70
Russian Oil Company Begins Trading in Chinese Currency Amid Continued Sanctions
Gazprom Neft, Russia’s third-largest oil producer, is now settling all of its crude sales to China in renminbi, in the most clear sign yet that western sanctions have driven an increase in the use of the Chinese curre...
Oil Price Stabilisation to Help Lower Russia’s Inflation
Further stabilization of oil prices is likely to help lower inflation in Russia, allowing the central bank to reduce rates at a faster pace, the World Bank said Monday as it raised the economic outlook for the country...
Abundance in Supply as OPEC Outputs Rise Causes Oil Prices to Fall
Crude oil prices dipped in early Asian trading on Monday as rising OPEC output and an expectation that the group would keep production high added to sentiment that the market remained over supplied despite ongoing fal...
Global Surplus of Oil Causes Build Up in Atlantic Basin
A shadowy build up of oil has intensified in the Atlantic Basin with homeless cargoes of crude turning into unintentional floating storage – another sign the global surplus has some way to go before clearing. Of...
European Oil, Gas Companies Seek UN Approval on Global Warming Policy
Six of Europe’s largest oil and gas companies have banded together for the first time to ask the UN to let them help devise a plan to stop global warming. In a sign of the rising pressure on fossil fuel companies ahea...
OPEC Becomes an Ally for US Amid Changing Times
The Obama administration has found an unlikely ally in its efforts to keep pushing more biofuel into the nation’s gasoline supply: OPEC. The lowest oil prices in over six years have fueled a resurgence in U.S. g...
As Energy Demand Rises, Mediterranean Region Readies for the Challenge
Mediterranean states are on track to increase energy demand by 50 percent over the next 25 years, according to regional researchers, with the brunt of the growth falling on the southern part of the region. According t...
Eni Talks on Mozambique Sale
Talks between Eni and suitors including Chinese state utility Huadian for a stake of around 15 percent in the Italian oil major’s prized Mozambique gas field are dragging on due to differences over price, indust...
