state oil

Mexican firm inks floating hotels deal in Spain


September 20th, 2012 - 12:21 pm ICT by IANS
Santiago de Compostela (Spain), Sep 20 (IANS/EFE) Mexican state oil monopoly Petroleos Mexicanos signed a 300-million-euro ($392 million) deal Wednesday for the construction of two floating hotels, or flotels, at ... Read more...

Posted in Business |

26 die in Mexican gas plant blast, fire (Lead)


September 19th, 2012 - 1:42 pm ICT by IANS
Mexico City, Sep 19 (IANS/EFE) Twenty-six workers were killed Tuesday in an explosion and subsequent fire at a gas plant in the northeastern Mexican state of Tamaulipas, state-owned Petroleos Mexicanos ... Read more...

Posted in World |

Azerbaijan buys 10 tonnes of gold


September 19th, 2012 - 1:16 pm ICT by IANS
Baku, Sep 19 (IANS) The Azerbaijan State Oil Fund has bought 10 tonnes of gold to increase the diversification and profitability of its investment portfolio, the Fund's CEO Shakhmar Movsumov ... Read more...

Posted in Business |

Production at Venezuela gas field to start in 15 months


September 7th, 2012 - 11:29 am ICT by IANS
Lecheria (Venezuela), Sep 7 (IANS/EFE) Spain's Repsol said it expects production at the Perla gas field, located off Venezuela's northwestern coast and one of the world's largest, to begin in ... Read more...

Posted in Business |

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 |

Brazil says offshore find holds high-grade oil


August 15th, 2012 - 11:25 am ICT by IANS
Rio de Janeiro, Aug 15 (IANS/EFE) Preliminary drilling has confirmed that an offshore deposit discovered in March contains significant reserves of light crude, Brazilian state oil giant Petrobras said."New oil ... Read more...

Posted in Uncategorized |

Venezuela boosts oil sales to China


August 14th, 2012 - 11:47 am ICT by IANS
Caracas, Aug 14 (IANS/EFE) Venezuela has increased oil sales to China to 640,000 barrels a day, the Andean nation's energy minister said."Before, we never sold a single barrel of petroleum ... 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 |

Hijacked oil tanker has Indians among crew (Lead)


May 12th, 2012 - 5:12 pm ICT by IANS
London, May 12 (IANS) About 15 crew members, including some Indians, are on board a tanker carrying 135,000 tonnes of oil, which has been hijacked by pirates in the Arabian ... Read more...

Posted in World |

Fuel thieves cause pipeline fire in Mexico


April 2nd, 2012 - 1:06 pm ICT by IANS
Guadalajara (Mexico), April 2 (IANS/EFE) A natural gas pipeline owned by Mexican state oil monopoly Petroleos Mexicanos, or Pemex, caught fire when fuel was being stolen from a stretch near ... Read more...

Posted in World |

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 |

Pakistan, Afghanistan to double bilateral trade to $5 bn


January 18th, 2012 - 5:11 am ICT by IANS
Islamabad, Jan 18 (IANS) Pakistan and Afghanistan have agreed to increase bilateral trade volume to $5 billion by 2015 from the present near $2.5 billion, said officials.The Pakistan-Afghanistan Joint Economic ... Read more...

Posted in South Asia |

`Chevron out of Brazil if it fails to comply with agreement’


December 5th, 2011 - 11:56 am ICT by IANS
Brasilia, Dec 5 (IANS/EFE) US-based Chevron Corp. will have to leave Brazil if it fails to comply with the agreement it reached to deal with the damage caused by an ... Read more...

Posted in Business |

Chevron to cap, abandon leaking Brazil oil well


November 16th, 2011 - 11:53 am ICT by IANS
Rio de Janeiro, Nov 16 (IANS/EFE) Brazilian oil regulator ANP approved Chevron Corp's plan to seal a leaking offshore well, the official Agencia Brasil news agency said Tuesday.The leak began ... 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 |

Mexican firm launches LPG auction


October 14th, 2011 - 11:59 am ICT by IANS
Mexico City, Oct 14 (IANS/EFE) Mexican state oil monopoly Petroleos Mexicanos (Pemex) has opened up a bidding round for LPG contracts in the April 2012 to March 2013 period.The winners ... 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 |

11.1-bn-rupee bailout package insufficient for multibillion loss-stricken Pak Railways


March 22nd, 2011 - 2:42 pm ICT by ANI
Islamabad, Mar 22(ANI): The Pakistan Railways is set to get a hefty 11.1-billion-rupee bailout package to improve its current situation, but insiders believe that this amount would be nothing more than peanuts ... Read more...

Posted in South Asia |

Budget signals major subsidy reform on fertilizers, kerosene (Lead)


February 28th, 2011 - 6:53 pm ICT by IANS
New Delhi, Feb 28 (IANS) In a major reform move, Finance minister Pranab Mukherjee Monday announced direct cash transfers for the poor by March 2012, instead of the present subsidy method ... Read more...

Posted in Business |

No plans to raise diesel prices, roll back petrol rate: Jaipal


January 20th, 2011 - 9:08 pm ICT by IANS
New Delhi, Jan 20 (IANS) New Petroleum Minister S.Jaipal Reddy Thursday said the government has no plans to increase the price of diese, and indicated there would be no rollback of the ... Read more...

Posted in Business |

BJP protests petrol price hike in Delhi


January 18th, 2011 - 3:48 pm ICT by IANS
New Delhi, Jan 18 (IANS) About 500 Bharatiya Janata Party (BJP) workers Tuesday held a demonstration at Jantar Mantar in central Delhi to protest the recent hike in petrol prices. Police ... Read more...

Posted in Business |

Mexico arrests two Chinese executives on bribery charges


December 15th, 2010 - 11:18 am ICT by IANS
Mexico City, Dec 15 (IANS/EFE) Two top executives of a Chinese company were arrested in Mexico on charges they tried to bribe employees of state-owned Petroleos Mexicanos to obtain discounts on the ... Read more...

Posted in Business |

I-League kicks off without title sponsor, TV coverage


December 2nd, 2010 - 8:04 pm ICT by IANS
New Delhi, Dec 2 (IANS) For the first time in 14 years, the national football league, reincarnated as the I-league in 2006, will kick-off Friday without a title sponsor and television coverage. ... Read more...

Posted in Sports |

India keen to invest more in Sudan’s oil sector


October 30th, 2010 - 10:04 pm ICT by IANS
New Delhi, Oct 30 (IANS) India Saturday expressed keenness to invest in the oil sector of the north african state of Sudan and the latter offered to increase the supply of its ... Read more...

Posted in Business |

Pak Senate body slams government for Israeli company deal


August 10th, 2010 - 2:45 pm ICT by ANI
Islamabad, Aug.10 (ANI): The Pakistan Senate's Standing Committee on Interior has criticized the Pakistan State Oil (PSO) management for awarding a contract to an Israeli company, and asked the Petroleum Ministry and ... Read more...

Posted in South Asia |

Government considering disinvestment in ONGC, IOC


July 15th, 2010 - 10:04 pm ICT by IANS
New Delhi, July 15 (IANS) Petroleum Secretary S. Sundareshan Thursday indicated that the government was looking at offloading some of its share in ONGC and Indian Oil Corporation. "Absolutely. It is an interesting ... Read more...

Posted in Business |

Economic blockade hits normal life in Manipur


May 8th, 2010 - 9:54 pm ICT by ANI
Imphal (Manipur), May 8 (ANI): Normal life in Manipur was brought to a complete standstill by an economic blockade spearheaded by the All Naga Students' Association.Simultaneously, the All Tribal Students' Union is ... Read more...

Posted in National |

Petrol, diesel costlier from April 1 in 13 cities


March 31st, 2010 - 7:20 pm ICT by IANS
New Delhi, March 31 (IANS) The government is raising the prices of petrol and diesel by over one percent in 13 cities, where the Euro-IV grade low-sulphur fuel will be supplied from ... Read more...

Posted in Business |

‘Oil mafia siphoned Rs.90 bn annually during Musharraf regime’


March 13th, 2010 - 12:50 pm ICT by IANS
Islamabad, March 13 (IANS) Pakistan's oil mafia is alleged to have siphoned Rs.90 billion annually during former president Pervez Musharraf's tenure by supplying substandard diesel at the rates of the high ... Read more...

Posted in South Asia |

No fuel hike now, will ask more money for oil firms: Deora (Lead)


February 1st, 2010 - 6:16 pm ICT by IANS
New Delhi, Feb 1 (IANS) Petroleum Minister Murli Deora Monday said he will meet Finance Minister Pranab Mukherjee to ask for more compensation for the state oil marketing companies suffering losses ... Read more...

Posted in Business |

Rupees 120 billion paid by Government of India to bail out oil companies


January 19th, 2010 - 5:46 pm ICT by ANI
New Delhi, Jan. 19 (ANI):Petroleum Minister Murli Deora on Tuesday disclosed that the Finance Ministry has granted 120 billion rupees to compensate losses incurred by government-run oil companies."Finance Ministry will pay for ... Read more...

Posted in World |

Mexico’s oil output falls in 2009


October 25th, 2009 - 3:41 pm ICT by IANS
Mexico City, Oct 25 (EFE) Oil output in Mexico has continued to decline in 2009, coming in at an average of 2.6 million barrels per day (bpd) for the first nine months ... Read more...

Posted in Business |

Uninterrupted supply of petro products to flood-hit states


October 5th, 2009 - 10:56 pm ICT by IANS
New Delhi, Oct 5 (IANS) Petroleum Minister Murli Deora has directed all state oil marketing companies to maintain the supply of petroleum products to the flood affected regions of Karnataka, Andhra Pradesh ... Read more...

Posted in Uncategorized |

Russia, Venezuela sign package of oil deals


September 10th, 2009 - 11:57 pm ICT by IANS
Moscow, Sep 10 (RIA Novosti) Russia and Venezuela signed Thursday a package of deals, including one to develop the Latin American country's Orinoco oil belt, with estimated reserves of 235 billion barrels ... Read more...

Posted in Business |

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