Saturday 4 July 2015
 
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Adgas launches LNG sell tender for August

Abu Dhabi's ADGAS has launched a tender to sell one liquefied natural gas (LNG) cargo for loading on August 1, trade sources said. The tender closes on July 6 and has validity until July 8, one of the sources said. -Reuters

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Oil slides in thin trade on rising US rig count

Oil prices dropped on Friday as a rising US rig count stoked more concerns about global oversupply while an investigation by Chinese regulators into suspected stock market manipulation further unsettled the market. A sharp move lower in late-morning US trade was exacerbated by th

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BP reaches $18.7bn settlement over deadly 2010 spill

BP will pay up to $18.7 billion in penalties to the US government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in US history. The agreement adds to the $43.8 billion that BP had previously

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India takes 23pc less Iranian oil

India's oil imports from Iran fell by about 23 per cent over January-June as refiners curtailed shipments in the early months of the year to keep volumes within the limits allowed under an interim nuclear deal in place since the end of 2013.   India shipped

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Asia oil refining margins hit 2015 low, Mideast supply to drag

Rallying oil refining margins have ground to a halt in Asia. Currently at a 2015 low, they could drop another 20-30 per cent this quarter, led by declining profits in diesel as supply from the Middle East adds to a global glut.   While softer Asian demand for di

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Vietnam's Petrolimex ends Kuwait diesel term contract

Vietnam's top fuel importer, Petrolimex, and Kuwait Petroleum Corp (KPC) have ended their long-standing diesel term contract that dates back to the 1990s since imports from Southeast Asia now attract lower duties, two industry sources said.   On top of the r

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Shell chief says US shale producers under Saudi pressure

Opec's decision, led by Saudi Arabia, to not cut oil production has put pressure on US shale gas producers which in turn has put brakes on America's energy boom, the chief executive of Royal Dutch Shell said in an interview with the Financial Times.   Be

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Abu Dhabi's Taqa denies holding merger talks

Abu Dhabi National Energy Company (Taqa) said on Thursday that it was not holding merger talks. The company "confirms that it is not engaged in merger discussions with any government or other entity", it said in a brief statement to the bourse. Sources fa

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Innovation ‘key to achieving progress in energy sector’

Innovation is key to achieving progress in the energy sector in today’s economic environment, according to Abu Dhabi industry leaders. As regional and global oil and gas companies continue to submit their nominations for the prestigious Adipec 2015 Awards ahead of the July

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Gulf Petrochem renames acquired oil company in Kenya

Gulf Petrochem group has announced the official acquisition and name change of Essar Petroleum East Africa Ltd to Aspam Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa, the co

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