Latest news
BP inks LNG supply deal with Egypt amid its severe gas shortage
British oil giant BP has inked a deal to supply 16 cargoes of liquefied natural gas (LNG) through 2015 and 2016 to state-owned Egyptian Gas (Egas). The final quantity is less than 21 cargoes as previously envisaged.
read more... 24/06/2015
Daily: Crude oil prices shed on robust production from OPEC, firmer dollar
Crude oil closed down as much as 1 percent on Monday, retiring from Friday’s hike on a strong dollar and worries over extremely high supplies from OPEC. The Organization of the Petroleum Exporting Countries pumped a record high of 31.22 million barrels of oil per day (bpd) in May and the group is expected the maintain its current production at its meeting on Friday. Brent crude oil futures declined by 68 cents, or 1 percent, to close at $64.88 a barrel. U.S. crude decreased just by a dime, ending at $60.20 a barrel, after slipped more than 1 percent with Brent earlier.
read more... 02/06/2015
BP raises stake in Egypt gas field
BP has rose its share in the $12 billion West Nile Delta gas field in Egypt to more than 80 percent after purchasing a stake from DEA, the energy company possessed by Russian billionaire Mikhial Fridman.
read more... 20/05/2015
China’s crude oil imports rally to a record high in April
China, the world's second-largest crude oil buyer, registered a record high in its crude oil imports in April at 7.37 million barrels per day (bpd), as demand remains robust amid declining prices, encouraging stockpiling, according to data from the General Administration of Customs. In April, China imported a higher-than-expected 30.29 million tonnes of crude oil, while on a daily basis, April imports were up 13 percent compared with March.
read more... 08/05/2015
BP estimates Tanap gas pipeline project agreement within two months
British oil major BP anticipates to ink an agreement with the Trans-Anatolian Natural Gas Pipeline (TANAP) project within two months to turn into a stakeholder in the multi-billion dollar project that wishes to diminish Europe's dependence on Russian gas.
read more... 26/03/2015