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Japan may invest $10bn in Russian oil firm RosneftJapan will propose a broad cooperation in the energy sector with Russia that could include a nearly $10 billion investment in Russian state-owned oil giant Rosneft, the Nikkei newspaper reported on Friday. The report comes as Prim More… |
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Dubai oil firm to invest $10bn in PhilippinesKampac Oil, a Dubai-based oil and gas company, plans to double its investments in the Philippines to more than $10 billion, said a report. The bulk of the investments will be for the construction of Kampac Energy City in Sual, Pan More… |
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Libya's state oil firm NOC operating independentlyLibya's state oil firm NOC based in the Tripoli is operating independently, said a minister of a rival government of the North African that controls the capital city. Last week, the internationally recognised government based More… |
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Firms plan drastic cut on oil exploration spendGlobal oil firms, hit by one of the worst years for discovery in two decades, are about to cut exploration spending, pulling back from frontier areas and jeopardising their future reserves, industry insiders say. Notable explorati More… |
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Libya restarts oil productionLibyan oil firm the Arabian Gulf Oil Company (Agoco) said on Monday it has restarted production at the eastern oilfield of Sarir in an early sign the industry is coming back to life after six months of war. 'We now in Sarir have 70 wel More… |
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Gulf Petrochem plans major Asia expansionUAE-based trader Gulf Petrochem is looking to expand into the Asian market by setting up a trading and bunkering desk in Singapore before the end of the year, said its chief executive. Strong oil demand from Asia has prompted Middle Easter More… |
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DNO buys RAK Petro assets for $250m in sharesNorwegian oil firm DNO International said it would buy oil and gas fields from UAE-based RAK Petroleum for $250 million of DNO stock, after pricing its shares towards the upper end of a previously announced range. The company also said it More… |
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Japan eyes Iraq oil sector, cautious on securitySecurity concerns and political uncertainty in Iraq are discouraging Japanese companies from joining in the race for a slice of the country's lucrative energy sector, a Japanese diplomat said. Tokyo's cautious approach contrasts sharply wi More… |
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Lamprell sees revenue rise 29pc to $600mUAE-based oil services firm Lamprell is "comfortable" with consensus forecasts for revenue to rise 29 per cent to $600 million this year, its chief financial and chief operating officers said. Lamprell is also on track to move to London's More… |
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Abraaj snaps up 40pc Bosicor stakeAbraaj Capital said it has acquired a key stake in the holding company of Bosicor Group (Bosicor), which is poised to become one of Pakistan’s leading integrated oil companies. Abraaj Capital is a premier investment firm specialising in p More… |
