IBTimes Australia : Commodities

BP to invest $2.85 billion in Iraq's largest oilfield

Thu, 23 May 2013 01:00:04 +1000

Oil major BP has allocated $2.85 billion to develop Iraq's Rumaila oilfield in 2013, up from $2.2 billion last year, the head of the joint management committee for the field told Reuters On Wednesday.

Fundamental Oil Report ()

Sun, 19 May 2013 19:33:02 +1000

Fundamental Oil Report ()

Sat, 04 May 2013 19:33:02 +1000

Libya to help ease Egypt crisis with $1.2 billion oil deal

Sun, 28 Apr 2013 23:08:02 +1000

Libya will soon start shipping oil to neighbouring Egypt on soft credit terms, two senior Libyan officials said, as Cairo struggles to pay for energy imports and avoid fuel shortages.

BP may delay $10 billion Mad Dog oil scheme in Gulf of Mexico

Sat, 20 Apr 2013 19:40:02 +1000

BP is reviewing its biggest new oil project in the Gulf of Mexico, due to rising development costs across the industry, and could delay the $10 billion scheme.

Fundamental Oil Report ()

Fri, 19 Apr 2013 19:04:03 +1000

GE to buy oil pump maker Lufkin for nearly $3 billion

Tue, 09 Apr 2013 05:16:02 +1000

General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion (1.9 billion pounds), sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.

GE to acquire oilfield services provider Lufkin for $3 billion

Mon, 08 Apr 2013 22:56:02 +1000

General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $2.98 billion to boost its presence in the energy business.

Fundamental Oil Report ()

Thu, 04 Apr 2013 19:33:03 +1100

Nigerian agencies seek $11.5 billion oil spill payout from Shell

Thu, 28 Mar 2013 07:32:02 +1100

Two Nigerian government agencies told a parliamentary hearing on Thursday that Royal Dutch Shell should pay a total of $11.5 billion (7.6 billion pounds) in compensation for damage caused by an oil spill at its offshore Bonga field in December 2011.

Exclusive - Petrobras said to auction $5 billion of Nigeria oil assets

Thu, 28 Mar 2013 00:24:02 +1100

Brazilian oil company Petrobras is to auction off its stakes in Nigerian oil fields to raise cash for domestic projects, a deal that may fetch up to $5 billion (£3.3 billion pounds), sources close to the deal said.

Exclusive: Petrobras said to launch $5 billion Nigerian oil block sale

Wed, 27 Mar 2013 21:56:02 +1100

Brazil's state oil company Petrobras has launched an auction to sell its interest in Nigerian oil fields, in a sale that may fetch up to $5 billion, as the company seeks to raise cash and embarks on a capital spending plan, people close to the matter told Reuters.

Exxon fined $1.7 million over Yellowstone River oil spill

Tue, 26 Mar 2013 17:16:01 +1100

The Department of Transportation has fined Exxon Mobil Corp $1.7 million over pipeline safety violations relating to a 2011 oil spill in the Yellowstone River, regulators have said.

Fundamental Oil Report ()

Wed, 20 Mar 2013 19:33:02 +1100

Shell to invest $1 billion at big Iraq oilfield - official

Sun, 17 Mar 2013 04:08:02 +1100

Royal Dutch Shell will spend more than $1 billion (661 million pounds) this year developing one of Iraq major oilfields, where it will resume operations on May 1, officials said on Saturday.

Fundamental Oil Report ()

Tue, 05 Mar 2013 19:04:02 +1100

Oil trader Vitol reports revenues over $300 billion

Fri, 01 Mar 2013 00:56:02 +1100

Vitol, the world's biggest oil trader, said on Thursday that its 2012 revenues rose to a record $303 billion and that the company may acquire more assets in a competitive trading environment.

Fundamental Oil Report ()

Mon, 18 Feb 2013 19:04:02 +1100

Exclusive: Russia plans $25-$30 billion oil-for-loans deal with China

Thu, 14 Feb 2013 05:48:02 +1100

Rosneft is seeking to borrow up to $30 billion from China in exchange for possibly doubling oil supplies, making Beijing the largest consumer of Russian oil and further diverting supplies away from Europe.

BP objects to $34 billion oil spill claims sought by states

Wed, 06 Feb 2013 09:24:02 +1100

BP Plc has tallied up claims made by states and local governments on the U.S. Gulf Coast for economic and property damages from the Macondo oil spill, and come up with a figure of $34 billion, which it deems "substantially" overstated.

Fundamental Oil Report ()

Sun, 03 Feb 2013 19:04:02 +1100

U.S. judge okays BP plea, $4 billion penalty in Gulf oil spill

Wed, 30 Jan 2013 12:56:01 +1100

A U.S. judge accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion (£2.5 billion) in criminal penalties for the worst offshore oil spill in U.S. history.

Judge okays BP plea, $4 billion penalty in Gulf oil spill

Wed, 30 Jan 2013 08:00:02 +1100

A U.S. judge accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in U.S. history.

Fundamental Oil Report ()

Sat, 19 Jan 2013 18:33:02 +1100

Exxon Mobil proceeds with $14 billion Canada oil field

Sat, 05 Jan 2013 05:24:03 +1100

Exxon Mobil Corp said on Friday it is moving forward with the next major offshore oil project in the North Atlantic, the $14 billion Hebron development off the Newfoundland coast, boosting its investments in Canada's most oil-rich regions.

Transocean to pay $1.4 billion for role in BP oil spill

Fri, 04 Jan 2013 19:32:02 +1100

Transocean Ltd agreed to pay $1.4 billion (871.6 million pounds) to settle U.S. government charges over BP Plc's massive Gulf of Mexico oil spill in 2010 and the rig contractor admitted that its crew on the Deepwater Horizon was partly responsible.