oil firm

Reserves to rise through 2030: Ecuador state oil firm


September 6th, 2012 - 11:32 am ICT by IANS
Quito, Sep 6 (IANS/EFE) Ecuadorian state oil firm Petroamazonas expects crude reserves at its fields in the Amazon region to climb by around 7 percent through 2030 thanks to a ... Read more...

Posted in Business |

Argentine oil firm looks to attract investors


August 31st, 2012 - 1:26 pm ICT by IANS
Buenos Aires, Aug 31 (IANS/EFE) The CEO of Argentine state-run oil firm YPF has expressed confidence in the company's future and urged multinational corporations to come on board as partners ... Read more...

Posted in Business |

Colombian oil firm to export 12 mn barrels to India


August 16th, 2012 - 11:26 am ICT by IANS
Bogota, Aug 16 (IANS/EFE) Colombian oil firm Ecopetrol will supply 12 million barrels of crude to a private Indian refining company under a year-long contract worth approximately $1.2 billion, the ... Read more...

Posted in Business |

Colombia to deploy 5,000 soldiers to protect pipeline


July 12th, 2012 - 12:17 pm ICT by IANS
Bogota, July 12 (IANS/EFE) Colombia's government plans to deploy 5,000 soldiers to protect the Bicentennial Pipeline, a 960 km conduit currently under construction.Mines and Energy Minister Mauricio Cardenas made the ... Read more...

Posted in Business |

Russian state oil firm to buy back shares worth $2 bn


June 1st, 2012 - 2:32 pm ICT by IANS
Moscow, June 1 (IANS/RIA Novosti) Russia's largest state-controlled oil company Rosneft will purchase 68.3 billion rubles ($2 billion) worth of shares from its minority shareholders.The buy-back involves Rosneft's minority shareholders ... Read more...

Posted in Business |

Government appoints panel to review oil firm contracts


May 31st, 2012 - 7:22 pm ICT by IANS
New Delhi, May 31 (IANS) The government Thursday set up a panel headed by C. Rangarajan, chairman of the prime minister's economic advisory council, to review production sharing contracts ... Read more...

Posted in Business |

Petrol price hiked by Rs.6.28 plus taxes, industry welcomes move (Second Lead)


May 23rd, 2012 - 10:35 pm ICT by IANS
New Delhi,May 23 (IANS) India's state-controlled refiners hiked prices petrol by a steep 6.28 per litre, exclusive of taxes, effective midnight Wednesday to compensate losses incurred by them for selling ... Read more...

Posted in Business |

Petrol prices hiked by Rs.6.28 per litre plus taxes (Lead)


May 23rd, 2012 - 8:54 pm ICT by IANS
New Delhi, May 23 (IANS) Petrol prices have been hiked by Rs.6.28 per litre, exclusive of taxes, effective midnight, it was announced here Wednesday.Petrol will cost Rs.73.14 per litre ... Read more...

Posted in Uncategorized |

Russian lawmaker held for $1.3 mn scam


April 29th, 2012 - 11:34 pm ICT by IANS
Moscow, April 29 (IANS/RIA Novosti) The speaker of a legislative assembly in Russia's far eastern region has been placed under house arrest on charges of embezzling 38 million rubles (around ... Read more...

Posted in World |

Brazilian firm declares oil field commercially viable


April 26th, 2012 - 12:56 pm ICT by IANS
Rio de Janeiro, April 26 (IANS/EFE) The OGX oil firm, part of a consortium led by Brazilian magnate Eike Batista, Wednesday declared a crude discovery off the coast of Rio ... Read more...

Posted in Business |

Brazilian oil firm says refining shortfall to last until 2013


March 15th, 2012 - 11:21 am ICT by IANS
Sao Paulo, March 15 (IANS/EFE) Brazilian state-controlled energy giant Petrobras said it will experience fuel deficits until new domestic refineries come online in 2013 and therefore expects to import 80,000 ... Read more...

Posted in Business |

Mexican oil firm ends 2011 with net loss of $6.5 bn


March 1st, 2012 - 11:59 am ICT by IANS
Mexico City, March 1 (IANS/EFE) State oil monopoly Petroleos Mexicanos, Mexico's largest company, said it posted a net loss of $6.5 billion in 2011, a 103 percent increase over 2010.Pemex ... Read more...

Posted in Business |

Venezuela pays Exxon $250 mn for nationalized assets


February 17th, 2012 - 11:28 am ICT by IANS
Caracas, Feb 17 (IANS/EFE) Venezuela has paid US oil giant ExxonMobil $250 million in compensation for the 2007 nationalization of crude assets.This brings an end to a "legal situation established ... Read more...

Posted in Business |

Argentine oil firm made $3 bn investments in 2011


February 9th, 2012 - 11:40 am ICT by IANS
Buenos Aires, Feb 9 (IANS/EFE) Argentine oil company YPF, a unit of Spain's Repsol-YPF, announced Wednesday that its investments in the South American country rose last year by 50 percent ... Read more...

Posted in Business |

Mexican oil firm posts nearly $25 bn surplus in 2011


February 1st, 2012 - 12:57 pm ICT by IANS
Mexico City, Feb 1 (IANS/EFE) Petroleos Mexicanos, or Pemex, said Tuesday it posted a trade surplus of $24.99 billion in 2011, up 28 percent from the prior year.Exports totaled $55.79 ... Read more...

Posted in Business |

Ordeal ends for Norway NRI parents, uncle to get custody of kids (Lead)


January 25th, 2012 - 11:57 pm ICT by IANS
New Delhi/Kolkata, Jan 25 (IANS) The ordeal of two Indian children in Norway, who were snatched from their NRI parents and put in foster care by Norwegian authorities, is set ... Read more...

Posted in Uncategorized |

Spanish firm buys Russian oil company for $230 mn


December 30th, 2011 - 12:46 pm ICT by IANS
Madrid, Dec 30 (IANS/EFE) Spanish energy firm Repsol YPF SA said Thursday that it spent $230 million to acquire Russian oil company Eurotek, which holds exploration and production permits in ... Read more...

Posted in Business |

GMR completes Singapore arm stake sale to PETRONAS


December 29th, 2011 - 5:55 pm ICT by IANS
New Delhi, Dec 29 (IANS) PETRONAS Power, a subsidiary of Malaysian oil firm PETRONAS, has paid SG$50 million ($38.4 million) for 30 percent stake in GMR Energy (Singapore), a subsidiary ... Read more...

Posted in Business |

Three Gorges to buy stake in Portuguese firm


December 24th, 2011 - 4:02 pm ICT by IANS
Beijing, Dec 24 (IANS) China's Three Gorges Corp will buy a 21 percent stake in Portuguese utility company EDP for 2.69 billion euros ($3.5 billion), beating rivals from Germany and ... Read more...

Posted in Business |

IndianOil, BP MoU for acetic acid plant


November 23rd, 2011 - 8:09 pm ICT by IANS
New Delhi, Nov 23 (IANS) State-run Indian Oil Corporation (IOC) and British Petroleum (BP) Wednesday entered into a memorandum of understanding (MoU) to explore possibilities of the two establishing a ... Read more...

Posted in Business |

Pakistan oil firm runs up massive dues


November 5th, 2011 - 12:06 pm ICT by IANS
Islamabad, Nov 5 (IANS) Government organisations like the national air carrier and the railways are among the customers who have run up Rs.168 bn dues with the Pakistan State Oil ... Read more...

Posted in Business |

Chinese oil firm eyes investments in Brazil


October 13th, 2011 - 11:46 am ICT by IANS
Sao Paulo, Oct 13 (IANS/EFE) A subsidiary of state-owned China National Petroleum Corporation has begun talks on developing deposits in an oil-rich region off the coast of the Brazilian state ... Read more...

Posted in Business |

Chinese oil firm to build schools in Myanmar


October 3rd, 2011 - 10:37 pm ICT by IANS
Nay Pyi Taw (Myanmar), Oct 3, (IANS) The China National Petroleum Corporation (CNPC) Monday donated $1.32 million to build eight schools in Myanmar's four regions and states along the China-Myanmar ... Read more...

Posted in World |

China urges Libya to protect its investments


August 24th, 2011 - 12:10 pm ICT by IANS
Beijing, Aug 24 (IANS) China has urged Libya to protect its investments after a Libyan rebel said Chinese oil companies could suffer following the ouster of Muammar Gaddafi.Wen Zhongliang, deputy ... Read more...

Posted in World |

Sistema may tie up deal to sell 25 percent of Bashneft to ONGC


April 21st, 2011 - 6:34 pm ICT by IANS
Moscow, April 21 (IANS/RIA Novosti) Sistema, one of Russia's largest diversified holding companies, may sell a blocking stake of 25 percent plus one share in mid-sized oil firm Bashneft to ... Read more...

Posted in Business |

Pakistan to tap foreign experts to head oil, gas firms


April 18th, 2011 - 1:46 pm ICT by IANS
Karachi, April 18 (IANS) The goverment has decided to revamp the top managements at state-run oil and gas companies and "candidates for the top posts at these companies will ... Read more...

Posted in Business |

Russia rejects criticism of Khodorkovsky verdict


December 28th, 2010 - 11:43 pm ICT by IANS
Moscow, Dec 28 (IANS/RIA Novosti) Russia Tuesday rejected international criticism of the guilty verdict in the trial of former oil tycoon Mikhail Khodorkovsky, terming it an "unacceptable attempt to exert pressure on ... Read more...

Posted in Business |

Former Russian oil tycoon convicted for fraud (Lead)


December 27th, 2010 - 11:17 pm ICT by IANS
Moscow, Dec 27 (IANS/RIA Novosti) Russia's former oil tycoon Mikhail Khodorkovsky and his business partner Platon Lebedev, both of whom have been jailed for tax evasion, were Monday found guilty of embezzlement ... Read more...

Posted in Business |

Russian ex-oil tycoon convicted in fraud case


December 27th, 2010 - 3:54 pm ICT by IANS
Moscow, Dec 27 (IANS/RIA Novosti) Russia's former oil tycoon Mikhail Khodorkovsky and his business partner Platon Lebedev were found guilty of embezzling 218 tonnes of oil worth $97.5 million by a Moscow ... Read more...

Posted in Business |

Colombian regulator approves BP asset sell-off


December 23rd, 2010 - 12:36 pm ICT by IANS
Bogota, Dec 23 (IANS/EFE) Colombia's competition regulator has given the green light for state oil firm Ecopetrol and Canada's Talisman to acquire the Colombian unit of BP Plc.Ecopetrol said Tuesday in a ... Read more...

Posted in Business |

BP Sued By US Government Over Gulf Oil Spill


December 16th, 2010 - 8:36 pm ICT by GD
By Ranjan Bhaduri Dec 16, (THAINDIAN NEWS) In a sensational development the Federal government's justice department has sued British Oil firm BP along with 8 other companies for the infamous Gulf of Mexico ... Read more...

Posted in Environment |

Nigeria drops corruption charges against Cheney after oil firm agrees to pay fine


December 16th, 2010 - 3:30 pm ICT by ANI
London, Dec 16 (ANI): Nigeria has dropped corruption charges against former US Vice-President Dick Cheney, after Halliburton, the oil firm he used to run, agreed to pay 250 million dollars in ... Read more...

Posted in World |

Yemen charges US-born radical cleric Al-Awlaki for first time


November 3rd, 2010 - 4:36 pm ICT by ANI
San'a, Nov 3 (ANI): Facing intense U.S. pressure to crack down on al-Qaida, Yemen has reportedly put an American-born radical cleric, Anwar al-Awlaki, on trial in absentia on Tuesday on charges ... Read more...

Posted in World |

Sanovi gets $5 million investment from Betul Oil firm


November 2nd, 2010 - 9:06 pm ICT by IANS
Bangalore, Nov 2 (IANS) Leading IT disaster recovery management firm Sanovi Technologies India Tuesday announced that it has secured $5 million (Rs.22.2 crore) investment from Betul Oil group to expand its operations, ... Read more...

Posted in Business |

Iran asks ONGC-Hinduja to make up mind on Pars gas field


November 1st, 2010 - 8:58 pm ICT by IANS
New Delhi, Nov 1 (IANS) Iranian oil firm Petropars has set a year-end deadline for ONGC-Hinduja consortium to decide on participation in a $7.5 billion gas field in the Persian Gulf.Speaking ... Read more...

Posted in Business |

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