Oil and Gas Industry Latest News

20.07.2013 Indonesian Graft Court Jails Third Chevron Employee

The AFP reports that an Indonesian anti-corruption court on Friday jailed a third employee of the local subsidiary of US energy giant Chevron Corporation, in a case that has spooked foreign investors.

20.07.2013 Iran Ready To Build Mini-Refineries Abroad: Official

The Tehran Times reports that Iran is prepared to build small oil refineries in other countries should they show interest, according to an Oil Ministry spokesman.

19.07.2013 Global Shale Gas Market To Be Worth $33.2 Billion In 2013

According to the Global Energy Watch, analysis indicates that the global shale gas market will reach a value of $33.2bn in 2013.

19.07.2013 Gazprom Looks to Strengthen Algerian Ties

Algeria will be receiving a visit from officials from Russian gas giant Gazprom this year. The Russian firm is looking to establish a better working relationship with the Algerian government and the visit is aimed at ensuring that.

19.07.2013 China To Raise Retail Fuel Prices

The retail prices of gasoline and diesel will be raised starting from Saturday, the country's top economic planner said Friday, according to The China Daily.

19.07.2013 BP Veteran Browne Builds US Gulf Oil Acreage

Reuters reports that former BP chief executive John Browne is to preside over the biggest set of oil and gas assets in the shallower, mature section of the Gulf of Mexico after buying them from U.S.-based Apache Corp (APA.N).

19.07.2013 South Sudan To Cut Oil Output To 100,000 Bpd At Weekend

Reuters reports that South Sudan will cut oil output to 100,000 barrels a day over the weekend as it moves toward a full shutdown, its foreign ministry said on Friday, in a dispute with Sudan over rebels that operate across their shared border.

19.07.2013 China Resources Defends Shanxi Coal Mine Acquisition

Bloomberg reports that the Chinese company accused of deliberately overpaying for three coal projects in 2010 defended the purchase after the claims wiped out almost $3.9 billion of market value in three days.

19.07.2013 Britain Promises World’s Most Generous Tax System for Shale

The U.K. government plans the world’s “most generous” tax system for shale gas to encourage development of a resource that may meet national demand for almost five decades.

19.07.2013 Apache to Sell Assets to Riverstone for $3.75 Billion

Bloomberg reports that Apache Corp., the third-worst performer this year among a group of U.S.