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Petro News

Egypt pays $350mn to BG Group

by Slavka Atanasova via www.arabianoilandgas.com

The Egyptian government has paid BG Group US$350mn in arrears for natural gas deliveries as part of a deal it reached in the summer to pay off all its outstanding…

Petro News

Gulf Marine Wins 4-Year Vessel Contract

by Rigzone Staff via www.rigzone.com

Energy industry ship provider Gulf Marine Services announced Wednesday a new four-year contract for one of its large-class vessels. Gulf Marine, which provides the energy industry with advanced self-propelled self-elevating…

Petro News

Japan Stocks Fall as Oil Drops, Fed Cites Global Risks

by Anna Kitanaka and Toshiro Hasegawa via www.bloomberg.com

(Bloomberg) — Japanese stocks fell from a seven-week high after oil slumped below $45 a barrel and the Federal Reserve cited international risks to the U.S. economy. Skymark Airlines Inc.,…

Petro News

Oil Will Recover Once Producers Quit Spending Money, Hamm Says

by Harry Weber via www.bloomberg.com

(Bloomberg) — Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday. Hamm…

Petro News

Al-Falih Reiterates Saudi Aramco’s Commitment to Long-term Strategy at Global Competitiveness Forum

by Saudi Aramco News via Aramco.com

Saudi Aramco continues to pursue its long term strategy to become the world’s leading integrated energy enterprise despite the current downturn in the global oil industry, Khalid A. Al-Falih, President…

Petro News

Nigerian government reduces fuel price

by Musikilu Mojeed

The Nigerian government has announced a reduction in the fuel price of petrol from N97 per litre to N87 per litre. The Minister of Petroleum Resources, Diezani Alison-Madueke, said at…

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