China Petrochemical Group (Sinopec), China's largest oil refiner announced this week that U.S. Occidental Petroleum Corp. (NYSE:OXY) had completed handing over its Argentinean assets to it.
China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
Repsol-YPF, Spain’s biggest oil company, said fourth-quarter profit more than doubled after refining margins improved and crude prices increased. Profit adjusted to exclude inventories and one-time items climbed to 499 million Euros from 241 million Euros a year earlier, the Madrid-based company said on Thursday.
A high level delegation from Uruguay is exploring the possibility of forging cooperation with India in the wind power sector. Led by Uruguayan Vice President Danilo Astori, the delegation visited Wednesday the plant of RRB Energy Ltd (RRBEL) in Chennai (formally Madras).
Trying to calm turbulent oil markets, Saudi Arabia's Oil Minister said on Tuesday that the Organisation of the Petroleum Exporting Countries (OPEC) was ready to pump more oil to compensate for any drop-off caused by unrest in the Middle East.
Repsol-YPF plans to start deepwater exploration off the coast of Tierra del Fuego in the Malvinas basin are expected to begin before the end of the first half of 2011, according to company’s sources.
China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation.
Oil reached its highest price in more than two years in London as violence escalated in Libya given growing concerns supplies could be disrupted as turmoil spreads through the Middle East and North Africa.
Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, announces that the 14/10-4 appraisal well was spudded at 0040hrs GMT on 19 February 2011.
Repsol-YPF planned exploration for hydrocarbons in the Malvinas basin, off Tierra del Fuego has suffered a major public relations setback following on the Buenos Aires press revelation that the two vessels contracted for the job not only are UK flagged but also have links with the current oil exploration round in Falkland Islands’ waters.