Petronas Q2 profit slips.

Petronas Q2 profit slips. Sep 1st 2013, 23:00 Malaysian state oil firm Petroliam Nasional (Petronas) said second-quarter net profits were slightly lower as weaker crude oil prices and higher upstream costs ate into margins. Net profit in the April to June period fell 0.9 per cent to 15.262 billion Malaysian ringgit ($4.62 billion) from 15.4 billion ringgit a year earlier, Petronas data showed.

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Publications by Oil & Gas News: High oil prices seen hurting Iran exports badly, says Zanganeh.

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High oil prices seen hurting Iran exports badly, says Zanganeh. Sep 1st 2013, 23:00 IRAN'S oil exports are being hurt by current high prices that make it more economical for rivals like the US to produce more costly oil, Iran's new energy minister says in an interview published by his ministry's website. A week into the job, returning oil minister Bijan Zanganeh, who previously filled the post under the reformist president Mohammad Khatami, told oil ministry news...

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Publications by Oil & Gas News: Premier Oil turning away from North Sea.

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Premier Oil turning away from North Sea. Aug 4th 2013, 23:00 Premier Oil, the British North Sea's oldest company outside the oil majors, is turning away from the region for future exploration opportunities, highlighting the uphill battle the British government faces in trying to revive the sector. "The UK is a very mature province and if we are to find more oil and gas...then we need to go to other places," Premier's chief executive Simon Lockett...

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Publications by Oil & Gas News: China looks to Kurdistan for oil.

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China looks to Kurdistan for oil. Aug 4th 2013, 23:00 With China already sucking up more than half of the oil production coming from Iraq, the Kurds may be next in the Chinese energy cross hairs. The Chinese begun to sink their teeth into the Kurdish Region's vast oil potential in 2009 when Sinopec acquired Addax Petroleum, which holds a joint agreement with Genel Energy to develop the Taq Taq oil field. To date, a total of 16 development...

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Publications by Oil & Gas News: Opec set to lose market share.

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Opec set to lose market share. Jul 14th 2013, 23:00 The Organization of the Petroleum Exporting Countries' (Opec) share of the world market will shrink in 2014 as rising supply of US shale oil gives the exporter group little comfort from the fastest growth in world demand in four years. In a monthly report, Opec forecasts demand for its oil in 2014 would average 29.61 million barrels per day (mbpd), down 250,000 bpd from 2013 and 770,000...

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Publications by Oil & Gas News: SPC-Dana Gas -- Zora Gas Field.

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SPC-Dana Gas -- Zora Gas Field. Jul 21st 2013, 23:00 Project name : SPC/Dana Gas -- Zora Gas Field Name of client : Dana Gas Sharjah Petroleum Council Budget : $70 million Main contractor : Crescent Petroleum Company Facility type : Gas Exploration Status : Feasibility Study PMC : Not yet appointed Location : Sharjah

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Publications by Oil & Gas News: Qatar in talks to buy German oil and gas firm.

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Qatar in talks to buy German oil and gas firm. Jul 21st 2013, 23:00 A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit, the Wall Street Journal reported, citing two people familiar with the matter. RWE in March said it was planning to sell DEA in a move to slash capital spending and cut its debt pile, with sources and analysts valuing the unit at about 5-8 billion...

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Publications by Oil & Gas News: FPSOs: robust prospects, primed for solid growth.

FPSOs: robust prospects, primed for solid growth. Jul 28th 2013, 23:00 THE floating production market is on a strong upward surge, but there are still plenty of pitfalls looming for companies with their eyes on the prize. All the evidence for the future of the floating production system (FPS) market supports the strong growth forecasts that abound. The industry's deepwater momentum continues to grow, while the offshore sector as a whole is increasing its...

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Publications by Oil & Gas News: Saudi to sustain high diesel imports.

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Saudi to sustain high diesel imports. Jul 21st 2013, 23:00 Saudi Arabia will import higher than usual volumes of diesel for August as soaring temperatures stoke demand for the power generation fuel, though the quantum may be as much as a quarter lower than July shipments, industry sources said. Saudi Aramco's sustained high diesel imports could mop up excess supply from India and help keep Asian gasoil margins steady, traders said. Exports from...

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Publications by Oil & Gas News: Middle East oil exports to Brazil top $2.75bn.

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Middle East oil exports to Brazil top $2.75bn. Jul 21st 2013, 23:00 Brazil imported about $2.76 billion worth of petroleum products, gas and energy from the Middle East from January to April, accounting for almost 20 per cent of total oil imports to the country, a report said. In light of the Arab-Brazilian Chamber of Commerce (ABCC) report, GrupoBraz Consulting in association with BrazArtis, an import-export company based in Rio de Janeiro, has...

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