Oil and Gas Industry Latest News

25.12.2012 Platts Report: China's Oil Demand Hits Record High in November

China's apparent oil demand* rose 9.1% year over year in November to 42.96 million metric tons (mt), or an average 10.5 million barrels per day (b/d), the highest on record, a just-released Platts analysis of recent Chinese government data showed.

24.12.2012 Rosneft signs contracts with Glencore and Vitol

Rosneft has agreed heads of terms for long-term crude supply contracts with Glencore International and Vitol, two of the world's leading trading companies. 

24.12.2012 Sechin, Dudley Discuss Plans to Integrate Rosneft and TNK-BP

Rosneft Chair Igor Sechin and BP Executive Director Bob Dudley met December 19 to discuss plans to integrate Rosneft and TNK-BP. The two adopted a decision to include Dudley in the presidium of the Coordination committee on integration, which is headed by Sechin.

24.12.2012 Air Products and Sibur celebrate the start up of the new ASU plant in Voronezh, Russia

Air Products reported that Air Products and Sibur inaugurated the opening of a new air separation unit (ASU). The grand opening ceremony is being held in conjuction with the 80th anniversary of Sibur’s OAO Voronezhsynthezkauchuk’s facility.

24.12.2012 Rosneft Obtains Financing to Acquire from BP 50% in TNK-BP

On December 21 Rosneft signed two loan agreements with a group of international banks for the total amount of U.S.$16.8billion to finance the acquisition of 50% stake in TNK-BP from BP.

24.12.2012 Total farms into the Bokhtar PSC area in Tajikistan with a 33.335% interest

Total announced that it had signed an agreement with Kulob Petroleum, a subsidiary of Tethys Petroleum, to farm into the Bokhtar PSC Area in Tajikistan with a 33.335% interest.

24.12.2012 Gazprom announces consideration given to organizational arrangements for production of CNG filling stations in Russia

The Gazprom headquarters hosted today a working meeting between Vitaly Markelov, Deputy Chairman of the Company's Management Committee and Heinz Bauer, owner of BAUER COMP.

24.12.2012 China's natural gas output accelerates in November

Natural gas output gained pace in November due to increasing demand for the fuel as winter approached, latest data from the National Development and Reform Commission (NDRC) showed.

24.12.2012 Europe seeking alternatives to Russia's natural gas

Moscow flexed its geopolitical muscles this month with the welding together of two pipes in southern Russia: the formal launch of construction on a new natural gas pipeline to southern Europe.

21.12.2012 Anadarko Announces Advancement of Mozambique LNG Project

Anadarko Petroleum Corporation (NYSE: APC) announced December 21 that it has reached Heads of Agreement (HOA) with Eni, establishing foundational principles for the coordinated development of the common natural gas reservoirs spanning both Mozambique's Offshore Area 1 (o