24/02/2014
By Jennifer Ryan Feb 24, 2014 U.K. Prime Minister David Cameron will pledge measures to boost North Sea oil extraction as his cabinet meets in Aberdeen in a bid to counter the campaign for Scottish independence. The..
24/02/2014
By Mikael Holter and Niklas Magnusson Feb 24, 2014 Lundin Petroleum AB (LUPE), the Swedish explorer focused onNorway, said there won’t be any oil production in the ice-filled waters of the Arctic for at least 15 years be..
24/02/2014
By Mike Anderson Feb 24, 2014 Natural gas jumped to the highest price in five years as forecasters warned of more freezing U.S. weather. Hedge funds increased bullish bets on the heating fuel as inventories dropped t..
24/02/2014
By Golnar Motevalli and Anthony DiPaola Feb 24, 2014 Iran will offer foreign partners incentives to find and pump more crude and natural gas and will pay some fees in barrels as it seeks to boost income once international sanct..
21/02/2014
February 19, 2014 The price of oil slipped below $103 a barrel Thursday after a report indicated that manufacturing in China, the world's second-biggest economy, shrank again in February. U.S. crude for March delivery fell 39 cents to clo..
21/02/2014
Crude oil inventories (weekly change) expected M barrels but actual 1.0M barrels (Previously 3.3M barrels) Gasoline (weekly change) expected M barrels but actual 0.3M barrels (Previously -1.9M barrels) Distillate..
21/02/2014
BEIJING, Feb. 21 -- China's largest oil refiner's plan to seek social and private capitalhighlighted the country's endeavors to forge a mixed ownership economy amid furtheropening-up expectations. Sinopec, one of China's three oil giants, proposed o..
21/02/2014
There was great hope in early 2012 that oil and gas revenues, which had rebounded fairly quickly after the overthrow of Moammar Gadhafi, would allow Libya to finance its own reconstruction and transition to democracy. Beneath this optimism,..
21/02/2014
Nigerian President Goodluck Jonathan suspended central bank Governor Lamido Sanusi in a surprise move that halted bond trading and sent the naira to a record low, after his accusations of missing oil revenue sparked a public outcry and criticism agai..
21/02/2014
By Jim Efstathiou Jr., Jim Snyder and Andrew Harris Feb 21, 2014 3:15 AM GMT+0800 Photographer: Brett Gundlock/Bloomberg A warning sign for the Keystone Pipeline stands outside of the TransCanada Cor..
21/02/2014
By James Paton Feb 21, 2014 8:58 AM GMT+0800 JunDecMarSep2,000.002,100.002,200.002,300.00* Price chart for ROYAL DUTCH SHELL PLC-A SHS. Click flags for importantstories.RDSA:LN2195.5015.00 0.69% Vitol Group agreed to p..
20/02/2014
In a bid to show members of Venezuelan society the age of Chavismo was alive and well, Venezuelan President Nicolas Maduro decided to rename one of the largest oil fields in the world after his mentor and former President Hugo Chavez. The Maduro admi..
20/02/2014
Offshore drilling contractor Ensco Plc. reported Wednesday a profit for the fourth quarter that grew from last year, despite lower total fleet utilization, reflecting double-digit revenue growth amid improved average day rate. However, both earnings ..
20/02/2014
LUKoil Reports Profits Down, Production Up Last Year MOSCOW, February 19 (RIA Novosti) – Russia’s largest privately owned oil producer reported Wednesday that annual profits declined 28.8 percent last year to $7.8 billion even as..
19/02/2014
US oil prices jump to a four-month high due to the effects of a cold winter in the US and rising concerns about stability in some key oil exporters. NEW YORK: US oil prices on Tuesday jumped to a four-month high due to the effects of a cold wi..
19/02/2014
Namibia's government said Tuesday it would soon accept more major oil companies into the country, a day after Shell announced it had bought two offshore blocks. Petroleum commissioner Immanuel Mulunga told AFP the government was in the proce..
19/02/2014
JUBA: South Sudanese rebels said they had seized control of the capital of oil-producing Upper Nile state on Tuesday, in an assault the government branded a flagrant breach of a ceasefire signed in January. The rebel strike was the first attack on a..
19/02/2014
Crude oil stocks up 1.9 million barrels Gasoline stocks down 1.3 million barrels Distillates stocks down 2 million barrels Refinery utilization, or run rate, down 1 percentage point to 86.1% of capacity U.S. commercial crude oil stocks are expect..
19/02/2014
Half-year net profit for New Zealand Oil & Gas has almost halved due to the cost of exploration and the relinquishing of a permit. The listed oil and gas explorer reported a 48 percent drop in net profit to $4 million for the six months to Dec..
18/02/2014
Oil: Proved reserves at end 1992 at end 2002 at end 2011 at ..
18/02/2014
By Harrison Jacobs February 16. 2014 4:30PM Politicians and activists may love to talk about renewable energy sources, but in today’s world fossil fuels are still king. Indeed, as technology has developed in recent years, previously unreachab..
18/02/2014
February 16, 2014 04:50 PM (Last updated: February 16, 2014 08:25 PM) Free Syrian Army fighters stand near oil wells that are now under the control of the Free Syrian Army, according to activists, in Raqqa province September 12, 2013. REUTERS/Molh..
18/02/2014
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27/06/2013
Recently published research from GlobalData, "Oil and Gas Exploration and Production Outlook in Vietnam to 2016 - Production Analysis, Forecasts and Details of Major Crude Oil and Natural Gas Blocks and Fields", is now available at Fast Market Resear..
24/06/2013
According to data from Bureau of Customs, Vietnam has imported about 699,000 tonnes of fuel in May, worth USD626 million, downed by 7.2% in volume and 9.4% in value from the previous month. In the first five months this year, Vietnam has imported to..
19/06/2013
Officials from major distributors of fuel said The Economy Times on June 17th that contract price of gas (CP) for July delivery is expected to increase in the near future. Specifically, Aramco Oil and Gas Corporation of Saudi Arabia released and est..
18/06/2013
Pan Pacific Petroleum (ASX: PPP) is participating in the drilling of the Ca Voi-1X exploration well offshore Vietnam that will evaluate the hydrocarbon potential of the Whale prospect. Operator Origin Energy (ASX: ORG) is drilling the well, located ..
17/06/2013
Retail price of gasoline in the domestic market has increase another VND426 a liter in the last weekend to VND23,756 a liter. According to an annoucement from Ministry of Finance, major distributors of fuel were allowed to lift about VND426 a liter ..
10/06/2013
Neon Energy's ongoing evaluation of the 3D seismic data located within the company’s offshore Vietnam Block 120 has found a new oil and gas prospect. The 500 km2 3D seismic programme, completed in mid 2012, was designed to delineate prospects ..
10/06/2013
Japan's major oil refiner Idemitsu Kosan Co. announced on Wednesday it has reached a final decision on a joint venture with the state-run Kuwait Petroleum International (KPI), PetroVietnam and Mitsui Chemicals Inc. to co-launch a USD nine billion-wor..
04/06/2013
PetroVietnam Drilling & Well Services Joint-Stock Co., the country’s biggest listed oilfield services provider, forecasts profit this year may rise 29 percent as rates for drilling rigs increase. Net income may reach 1.7 trillion dong ($81 mil..
29/05/2013
Ministry of Industry and Trade has granted the import license for additional 4 major petroleum enterprises, bringing the total number of fuel importers to 17 currently. Those of them are Phuong Dong Petroleum Joint Stock Company, the Petroleum and M..
23/05/2013
Pan Pacific Petroleum (ASX: PPP) is poised to participate in the drilling of up to three wells in the Nam Con Son Basin offshore southern Vietnam. The Ocean General semi-submersible drilling rig is now on tow to Block 121, operated by Origin Energy ..
22/05/2013
Canadian company Talisman Energy said it expects to produce 15,000 barrels of oil per day from its newly launched development offshore Vietnam. Talisman said it started oil production at the offshore Hai Su Trang and Hai Su Den development ahead of ..
20/05/2013
The state-run Korea National Oil Corp. will join Vietnam’s underground oil storage facility construction project, company officials said. “KNOC has decided to join the project to build an underground facility to store up to 3.8 million b..
09/05/2013
On May 8th, Ministry of Finance issued a Circular on increasing import taxes most of fuel products, effective immediately. Accordingly, import tax of gasolines inreased by 3% to 19% from 16% previously, while import tax of DO, kerosene rose by 2% to..
08/05/2013
According to source from The Vietnam national Petroleum Group (PVN), crude oil output in the first four months this year reached 5.544 million tonnes. In April alone, Vietnam produced 1.36 million tonnes. The source added that fuel production in Apr..
07/05/2013
Neon Energy (ASX: NEN) and Eni have contracted a rig to drill in June 2013, the Cua Lo prospect in Block 105-110/04 offshore Vietnam. Significantly, Neon will be carried through the drilling of the Cua Lo well up to a gross cost cap of US$25 million..
06/05/2013
Crude oil production of Vietnam reached 1.33 million tonnes in April, equivalent to 330,000 tonnes per day, up by 2% over previous month. According to data released by Statistics of Bureau, real output of crude oil of Vietnam in March unc..
02/05/2013
Vietnam's Ministry of Finance has decided to raise the import tax for oil products by 2 percentage points, and ordered local oil companies to cut retail prices with effect from April 26, the ministry said Friday. The import tax will be raised to 16%..
25/04/2013
Recently published research from Business Monitor International, "Vietnam Oil & Gas Report Q2 2013", is now available at Fast Market Research Oil output will rise in the short-term as new fields are brought online or are ramped up to peak production..
24/04/2013
Ministry of Finance has issued the Circular No. 43/2013/TT-BTC on revising the preferential tariffs for some goods in the group 2710 of Preferential Import Tariff (prescribed in Circular No. 193/2012/TT-BTC). Accordingly, Ministry will adjust to rai..
17/04/2013
Fuel prices in the domestic market may decrease again in following the decline of fuel price from Singapore. Recently, fuel price in the world market reduced significantly, expecially the two sessions in the last week and in the early this week. On..
15/04/2013
SOCAR (State Oil Company of Azerbaijan) President Rovnag ABdullayev has received delegation led by Vietnam’s Deputy Foreign Minister Nguyen Phuong Nga. According to APA-Economics, SOCAR President noted that the friendship relations between Aze..
11/04/2013
Vietnam Oil & Gas Group, or Petro Vietnam, recently announced it will continue to buy foreign oil and gas assets to produce nearly 100,000 barrels of oil a day overseas by 2020, The Wall Street Journal reported. The state-owned energy company said by..
10/04/2013
Ministry of Industry and Trade ans Ministry of Finance announced to release some fuel products from 18pm, April 9th. Accordingly, gasoline price was lowed by VND500 to VND24,050 a liter, while diesel and kerosene price were reduced by VND450 to VND2..
09/04/2013
In the next two months, Ha Noi government will eliminate and move substandard gas stations from the local, but will add hundred qualified ones. According to plan of gas station system, to 2015 Ha Noi will eliminate and relocate around 55 gas station..
08/04/2013
Vietnam's Petrolimex, the country's top importer, is seeking 229,000 tonnes of gasoil, its first quarterly import requirement after skipping its quarterly term contracts for three consecutive quarters. Its second quarter gasoil requirements are abou..
02/04/2013
PetroVietnam Gas Corp. (GAS), Vietnam’s biggest company by market value, climbed to a record on speculation its first-quarter earnings will beat estimates. The stock gained as much as 5.8 percent to 55,000 dong, the highest since listing on Ma..
01/04/2013
Cooking gas price in Ho Chi Minh City will be downed to VND380,000 a cylinder of 12kg from April, as announced by major distributors on Last Sunday (31/03/2013). Mr Nguyen Quang Trung, general director of MT Gas said that, April contract price of ga..
01/04/2013
Retail price of fuel products in Vietnam should be raised additional VND362-1,400 a liter from 20.00pm on March 28, lifted gasoline price to peak all time at VND24,580 a liter. Accordingly, RON 92 gasoline price was hiked by VND1,430 a liter, while ..
21/03/2013
Vietnam National oil and Gas Group; Vietnam Petroleum Corporation and partners have launched the project of Thi Vai LPG frozen storage, the largest one in Vietnam. Thi Vai frozen storage locates at Cai Mep Industry park in Phuoc Hoa Ward, Tan Thanh ..
19/03/2013
According to source from Vietnam Gas Association, gas price in the world market has been decreasing significantly since the early March. The April delivery contract price from Aramco was at USD793 a tonne, downed by USD102 a tonne over the early Marc..
12/03/2013
Soco International Plc (SIA), a U.K. oil explorer focused on Africa and Asia, is seeking to boost pumping capacity at its fields off Vietnam by about 27 percent, allowing it to pay an annual dividend to shareholders from this year. Soco plans to tes..
11/03/2013
Accoding to source from Vietnam Petroleum Group (PVN), oil and gas output in the first two months this year reached 4.41 million tonnes, up by 4.7% year on year. It included 2.02 million tonnes in February. In the first two months this year..
07/03/2013
Recently, major fuel distributors have increased discounts nearly double to retailers. Since early this week, major fuel distributors have lifted discounts to agents to VND400-450 a liter from VND200-250 a liter after Tet holidays amid they are in l..
04/03/2013
Mr Do Trung Thanh, sales manager of Saigon Petro said that his company will decrease retail price of cooking gas. Accordingly, gas price will be reduced by VND333 a kg, equivalent to VND4,000 a cylinder of 12kg to VND405,000 a cylinder from VND409.0..
27/02/2013
Ministry of Finance has issued a document permitting major fuel distributors to increase double price from the Stabilization Fund of fuel products. According to Ministry of Finance, the difference between the 30-day average price and current price o..
26/02/2013
Major fuel distributors said the current price of gasoline in the domestic market is at VND1,800 a liter lower than the base price. After deducting price from stabilization fund of VND1,000 a liter, they are making loss about VND800 a liter. In the ..
19/02/2013
The Vung Ro oil refinery project worth USD4.3 million locates in the Phu Yen province is expected to build in Quarter 2/2013. Talking to Saigon Economic Times Online on February 18th, Mr Le Van Truc – vice chairman of Phu Yen People's Committe..