World news

Sinopec to buy 33 pct stake in Apache Egypt

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Monday, 02 September 2013 10:16

Sinopec Group, a leading Chinese oil and gas producer, announced Friday that it will buy a 33-percent stake in Apache Corporation's oil and gas business in Egypt for 3.1 billion U.S. dollars, Xinhua reports.


Arabian Pipes, Petrofac sign SR43m contract

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Tuesday, 20 August 2013 14:10
The Arabian Pipes Company (APC) has signed a SR43-million contract with the Saudi Arabian Petrofac Company Ltd.The contract entitles APC to manufacture welded pipes for Petrofac Saudi Arabia at its factory in Jubail Industrial City. APC is the leading company in Saudi Arabia when it comes to supplying pipes used for oil and gas lines, construction, water irrigation and distribution, transmission of high-pressure fluids, and casing water oil and gas.

PetroChina poised to dominate Iraqi oil

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Friday, 16 August 2013 11:47
 Possible deals said to be in the works with Exxon Mobil, Russia's Lukoil.

PetroChina Co, China's largest oil explorer, may join with United States-based energy giant Exxon Mobil Corp to co-develop the West Qurna oilfield in Iraq, which would make the Chinese company the biggest single foreign investor in the Iraqi oil industry.


Mexico opens oil sector to private sector investment

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Tuesday, 13 August 2013 17:14
Mexico plans to open up its state run oil industry to private investment. A source of national pride, Mexico's oil industry has been protected from private involvement for 75 years.

Caspian CPC crude August exports to be stable, final plan shows

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Sunday, 04 August 2013 12:50
The Caspian Pipeline Consortium, operator of the only oil-export link in Russia that has shared foreign ownership, will keep daily crude exports from the Black Sea in August little changed from July, a final loading program obtained by Bloomberg News showed.

US shale threatens Saudi funding crisis and demise of OPEC

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Wednesday, 31 July 2013 15:05
Saudi Arabia and the Opec oil states must wean their economies off energy exports immediately or spiral into decline as America's shale revolution shatters the world order, a top Saudi business leader has warned.

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