London: Annual profits for oil company Royal Dutch Shell have fallen to $27 billion (£17 billion), a drop in comparison to the $28.6 billion made in 2011. The retreat comes despite Shell’s profits for the last three months rising from $6.5 billion to $7.3 billion, but the company was hit [...]
Berlin: Germany’s big energy companies are making profits despite a government decision to phase-out atomic energy,...
Vienna: The price of 12-crude basket of the Organisation of Petroleum Exporting Countries (OPEC) Monday stood at $97.34...
Cairo: Egypt has terminated a long-term gas deal with Israel because of violations of contractual obligations, Egypt’s...
Tehran: Iran’s oil ministry announced Sunday that it has stopped oil exports to Britain and France. The announcement comes after the oil minister said earlier that Iran might halt its oil exports to some European Union (EU) countries. “We have our own oil customers and the replacements for these companies [...]Read more ›
Quito: Ecuador has signed contracts for $1.7 billion in investment – the biggest to date in the country’s oil sector – to boost output at a pair of mature Amazon fields. Non-Renewable Natural Resources Minister Wilson Pastor, speaking at a signing ceremony at the presidential palace in Quito, described the [...]Read more ›
Kuwait City: Investment in the petrochemical sector in the Gulf region would go up to $160 billion in the next five years, an energy report has revealed. The report issued by the Diplomatic Centre for Strategic Studies said the new investments would increase the petrochemicals output of member-states of the [...]Read more ›
La Paz; Repsol CEO Antonio Brufau told Bolivian President Evo Morales that the Spanish energy giant plans to invest $640 million in operations in this Andean nation for the 2010-14 period, the company said in a statement. Brufau and Morales visited the Margarita natural gas field in the southern province [...]Read more ›
Washington: British oil giant BP has agreed to sell its Pompano and Mica oil fields in the Gulf of Mexico to Stone Energy Offshore, a subsidiary of Stone Energy Corp, for $204 million in cash, the British company said. The agreement includes the sale of BP's 75 percent operated working [...]Read more ›
Rio De Janeiro: Brazil would invest 214 billion reals ($122 billion) to build hydroelectric, solar and wind power projects in the next decade. "The hydroelectric energy is of great importance to Brazil, and yet, the country uses only a third of its potential," Brazilian Mines and Energy Minister Edison Lobao [...]Read more ›