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Shell declares force majeure in Nigeria after pipeline damage

Royal Dutch Shell on Monday declared a force majeure on its Bonny Light exports in southern Nigeria after it observed leakages on its pipelines. Some 150,000 barrels of oil and 500 million standard cubic feet of gas per day are deferred, Sh......【More】

2013-09-26

Crude oil futures edge lower as traders shrug off upbeat China PMI

Crude oil futures edged lower to trade at the weakest level in four-weeks on Monday, as market players shrugged off the release of upbeat Chinese manufacturing data and continued to focus on receding concerns over a disruption to supplies f......【More】

2013-09-25

China gasoline exports soar in August

Chinas net exports of gasoline in August rose to the highest in 31 months as refiners exhausted their quotas before domestic demand for motor-fuel increases in September as a result of national holidays. Overseas sales of gasoline exceeded......【More】

2013-09-24

CNOOC to start trading in Canada

China largest offshore oil and gas producer, CNOOC announced that the company is to issue shares on the Toronto Stock Exchange (TSX ) Wednesday after receiving the approval from the Canadian Stock Exchange. The listing was part of the compa......【More】

2013-09-23

Three world leading oil firms to sit out bidding for Brazil oil reserve

Three of the worlds leading oil companies, Exxon Mobil, BP and BG, have decided not to take part in the upcoming international bidding for rights to explore Brazils deep-water Libra oil reserve, Brazils National Petroleum Agency (ANP) said......【More】

2013-09-22

Petrobras CEO irked by U.S. spying, denies data being compromised

Maria das Gracas Silva Foster, CEO of Brazils state-owned oil giant Petrobras, said Wednesday that alleged attempts by U.S. intelligence to spy on the countrys strategic oil data have failed. Addressing a senate hearing, Silva Foster said s......【More】

2013-09-22

China to invest 80 bln yuan in exploring oil, gas this year

Chinas investment in exploration of oil and gas resources is expected to stand at 80 billion yuan (13.07 billion U.S. dollars) in 2013, according to the Ministry of Land and Resources. Such investment has risen steadily in China over the pa......【More】

2013-09-16

China, Russia sign agreement for natural gas

China National Petroleum Corp and Russias Gazprom signed an agreement to export gas to China through the eastern pipeline. The agreement was signed in the Russian city of St. Petersburg. Chinese President Xi Jinping, who was there to attend......【More】

2013-09-15

Oil, gas industry potential recognized at Offshore Europe in northeastern Scotland

The oil and gas industrys future potential was recognized at the Offshore Europe Conference and Exhibition which closed on Friday in Aberdeen city in northeastern Scotland. On the theme of The Next 50 Years, Malcolm Webb, chairman of this y......【More】

2013-09-11

Oil giants fail environmental tests

The countrys two major oil providers China National Petroleum Corp and China Petroleum and Chemical Corp have been punished by the Environmental Protection Ministry for failing their 2012 environmental tests. The evaluation, released on Aug......【More】

2013-09-10