A Shell subsidiary in Nigeria announced it started repairs on a crude oil pipeline in the country following an early May closure and force majeure declaration. Shell declared force majeure on Bonny Light crude, the Nigerian blend, as of May 4. “The action is due to production deferment caused by incessant crude theft and illegal [...]
European Union authorities announced Wednesday they have cleared a liquefied natural gas joint venture in Angola by BP, Chevron, Eni, Sonangol and Total. The European Commission gave its blessing having “found that the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share, the presence of a number of credible [...]
Nigeria is losing nearly a fifth of its revenues to oil thieves, Finance Minister Ngozi Okonjo-Iweala was quoted as saying in the Nigerian local newspaper – This Day on Tuesday. Oil companies say so called ‘bunkering’ — tapping into oil pipelines to steal the crude — and other forms of oil theft are on the [...]
The European Union has put back its planned review of its oil embargo on Iran to June instead of May, EU diplomats said Thursday, when it will also review the timing of a ban on European companies from insuring the transportation of Iranian crude-oil exports. The delay is partly a bid not to pre-empt talks [...]
Oil & Gas UK’s first quarter 2012 business confidence index published Thursday reveals that the confidence of the upstream oil and gas industry across Britain has risen to 64 points on a 100 point scale. This is the highest since the survey was launched in Q1 2009, said the trade body. However, the leap in [...]
An Iranian trade delegation to India sealed deals to buy shipments of rice, sugar and soybeans from the South Asian country as part of a plan for Tehran to increase trade with India to get around US financial sanctions on its oil shipments. India has been unable to pay in full for Iranian oil imports [...]
UK-based oil explorer Tullow Oil plans to spend up to $750 million (466 million pounds) jointly with its partners in exploration and further drilling in Uganda this year as the east African country races to begin crude production. Eoin Mekie, Tullow’s Uganda country manager, said the firm also expects to get its first production licence [...]
The new directors Supply, Jose Carlos Cosenza, and Engineering, Technology and Materials, Richard Olm, participated on the morning of last Tuesday, which celebrated event, alongside the president of Petrobras, Maria Smith Foster, the choice of the newest members of the Executive Board. Held in the Company’s headquarters in Rio de Janeiro, the event was also [...]
© 2012 Nogtec Oil and Gas News. All Rights Reserved | Designed by Rabia Designs
Follow Nogtec On