China National Petroleum Corp., apparently shrugging off environmentalists’ concerns, has signed three oil and gas cooperation agreements with the government of Sudan.
The front-month crude contract in the New York market fell Nov. 19, giving back much of its gains from a 3-day rally.
Russia's Energy Minister Sergei Shmatko and European Union Energy Commissioner Andris Piebalgs have signed an agreement for an early warning of future disruptions of Russian gas supplies to the EU.
Continental Resources Inc. has promoted Jeffrey B. Hume to president and chief operating officer. Hume has served as chief operating officer since October 2008.
Crude prices increased for the third consecutive session Nov. 18 on the New York Mercantile Exchange, buoyed by a weak dollar and unexpected declines in US oil inventories, but still wasn’t able to crack through its apparent ceiling of $80/bbl.
BP PLC and its Russian partners in TNK-BP have named Maxim Barsky as the new chief executive officer for the joint venture, but have delayed his appointment until 2011 so he can gain more experience.
Major oil companies and midstream companies face some changes in how they do business if biofuels production expands at the rate required by the US renewable fuel standards (RFS), a credit rating agency reports.
Olivier Gantois was appointed delegate general of French Union for Petroleum Industries (UFIP) trade group and will take office in January.
A group of corporate chief executives has formed to promote cuts in US oil use through expansion of the electric-powered vehicle fleet.
Enel Trade SPA is acquiring Stratic Energy Corp.’s Italian business unit for $51 million.
The Organization of Petroleum Exporting Countries reported that the world’s economic recovery will drive global oil demand to 85.07 million b/d in 2010, an increase of 0.9%.
Crude prices continued climbing Nov. 17 despite a strengthening US dollar, but the front-month natural gas contract gave up some of its gain from the previous session of the New York market on weaker US manufacturing and mixed weather forecasts.
A proposed greenhouse-gas tailoring rule for large industrial facilities could cause more problems than it solves, a National Petrochemical & Refiners Association official told the US Environmental Protection Agency on Nov. 18.
Cameron International Corp. will be required to divest assets used in the production and sale of oil refining desalters before it proceeds with its $980 million acquisition of Natco Group Inc., the US Department of Justice said on Nov. 17.
The US Chemical Safety Board will fully investigate an Oct. 23 tank explosion and fire at Caribbean Petroleum Refining in Puerto Rico that damaged homes and businesses more than a mile away, the board said Nov. 17.
The first federal coordinator of Alaska natural gas projects, Drue Pearce, gave notice Nov. 16, after US President Barack Obama asked for her resignation.
Energy prices rebounded Nov. 16 from a two-session decline with crude up 3.3% with larger than expected US retail sales and growth in Japan’s gross national product.
The Independent Petroleum Association of Mountain States has asked US Rep. Diana DeGette (D-Colo.) to stop spreading misinformation in a letter to other members of Congress about hydraulic fracturing in an apparent effort to pass a bill she and Rep. Maurice Hinchey (D-NY) introduced on June 9.
The economic crisis is forcing European utilities to defer or cancel investments in facilities, renewables, and energy efficiency and to divest assets, according to Cap Gemini SA, Paris, in its annual European Energy Markets Observatory (EEMO).
