Shell, Eni, Exxon Win Concessions in Egypt
Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.It marks Exxon Mobil's entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender - three for oil and two for gas.Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corporation (EGPC) were awarded seven oil exploration concessions in total in which 3
India's Oil Imports Surged in 2017
India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. To meet its growing fuel demand India, the world's third-biggest oil consumer, raised its refining capacity in the second half of 2017.
Asian Imports of Iranian Oil Hit 5-month High
Imports of Iranian crude by major buyers in Asia rose for a second month in a row in August to hit their highest level since March, helped by a spike in purchases by China and South Korea. However, imports by Asia's four main buyers remained below year ago levels for a fourth month in a row, the first time this has happened since Western sanctions against Tehran were lifted in January last year, leading to a surge in shipments.
Eni Inks Cooperation Deal with CNPC
Eni signed a cooperation agreement with China National Petroleum Corporation (CNPC) on Wednesday in a move that could give the Italian oil major greater access to the Chinese market. Eni said in a statement it had agreed to work with state-owned CNPC in the fields of exploration and production, liquefied natural gas (LNG), trading and refining-petrochemicals. The deal will cover operations in China and abroad, it said, without giving further details.
India to Cut Iranian Oil Purchases in Row Over Gas Field
Indian state refiners will cut oil imports from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said. India, Iran's biggest oil buyer after China, was among a handful of countries that continued to deal with the Persian Gulf nation despite Western sanctions over Tehran's nuclear programme.
Eni Talks to Big Oil About Stake Sale in Giant Egypt Gas Field
Italy's Eni is talking to oil companies including Lukoil, ExxonMobil, Total and BP about selling at least a 20 percent stake in its giant gas field in Egypt, industry sources said. Eni owns the whole of Zohr and has said it is interested in bringing in partners as part of its strategy of selling some of its prize acreage to help meet a target of raising 5 billion euros from asset disposal over the next two years.
