Petrobras of Brazil presents a five-year business plan worth $111 billion, with $10 billion in additional dividends
According to a Securities filing, the Brazilian state-run company Petrobras announced Monday that it had proposed a $111 billion plan to its board for 2025-2029. The…
WSJ reports that Russia is exploring a plan to merge Rosneft, a Gazprom subsidiary, and Lukoil.
The Wall Street Journal reported that Russia is working on plans to merge Rosneft oil, a state-backed company, with Gazprom, creating the second-largest crude oil producer in the world.
Coronavirus, Consolidation Taking Toll On Energy Jobs
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon…
Pipeline Fire Kills Three in Lagos
A fire on a pipeline owned by Nigeria's state oil company in the commercial capital Lagos killed three people on Sunday, a Reuters witness said.The blaze broke out in…
Saudi Aramco: 2 mln bpd of Spare Capacity Exists
Oil giant Saudi Aramco has spare capacity of 2 million barrels per day (bpd) and can meet additional oil demand in case of any interruption in supplies, the company head said on Monday…
Iran Inches Closer to Gasoline Independence
Iran launches Persian Gulf Star refinery; gasoline imports dropped sharply in recent weeks. Iran has sharply reduced its gasoline imports in recent weeks after starting up a new refinery…
Oil, Briefly Up On Lower Rig Counts, Falls on U.S. Output Outlook
Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by lower weekly U.S. rig counts and falling U.S. unemployment.
Ecopetrol Rubiales Oil Output Hit by Protests
Colombian state oil company Ecopetrol said on Tuesday it has suspended production at some wells in the nation's largest oil field after demonstrators seized the facility…
Rosneft to Participate in Bashneft Privatization
Russia's largest crude oil producer Rosneft will take part in the sale of the state's controlling stake in mid-size oil company Bashneft , Rosneft said on Friday. "Yes…
Iran: Oil Sales to Rosneft Mulled
Iran has been discussing possible oil sales to top Russian crude oil producer Rosneft, Kremlin-controlled RIA news agency cited Ali Akbar Velayati, top adviser to Iran's…
Mexico to Award Renewable Energy Contracts in March
Mexico will start soliciting bids later this month in its first auction of renewable energy certificates, part of an electricity sector overhaul that ends the state-owned power company's monopoly…
Rosneft Cuts Semi-annual Urals Sell Tender Offer in Oct-March
Russia's top crude oil producer Rosneft has cut offer at its semi-annual tender to sell Urals cargoes between October and March, industry sources told Reuters on Friday.
Nigeria Aims to Supply 20% of Gasoline Demand Itself
Major crude oil producer Nigeria aims to overcome its chaotic and crumbling refining sector to produce at least a fraction of the gasoline it needs to use itself. Its…
China to Allow Non-State Bids for Xinjiang Oil Blocks
China will allow private domestic enterprises to bid for a handful of oil and gas blocks in the far-western region of Xinjiang, the Ministry of Land and Resources said on Tuesday…
Rosneft-owned Saratov Oil Refinery Hit by Fire
A diesel tank at Saratov oil refinery, controlled by Russia's top crude oil producer Rosneft , caught fire on Tuesday, a local emergencies ministry official told Reuters.
Rosneft Announces Large Semi-Annual Oil Tender
Russia's top crude oil producer Rosneft has announced a semi-annual tender to sell oil cargoes between April and September, industry sources told Reuters on Tuesday.
Venezuela Seeks Oil Talks with Mexico
Venezuelan President Nicolas Maduro wants to meet with his Mexican counterpart Enrique Pena Nieto to discuss a slump in crude oil prices when they attend a summit in Costa Rica at the end of January…
Cash Hoard at Russia's Surgut Swells to $30 billion
The cash reserves of Russia's third-largest crude oil producer Surgutneftegaz climbed 27 percent to 1.3 trillion roubles ($30 billion) in the nine months to September…
Rosneft CEO: No Plans to Buy Oil Assets in Russia
Igor Sechin, chief executive of Russia's top crude oil producer Rosneft, said on Thursday he does not see any oil assets inside the country that could be an attractive purchase for the company.
Rosneft Awaiting Any Saipem Sale Proposal
Russian energy giant Rosneft is waiting to see what Eni plans to do with its 43-percent stake in Saipem before deciding whether to buy into the Italian oil services company.
