According to the Wall Street Journal, Iran plans to sign a preliminary $6 billion deal with Total SA on Tuesday to help develop an onshore gas field. The move by Total is the first return by a Western energy company since sanctions were lifted this year. Total was long one of the most active Western oil companies in Iran, and ...Read More »
Tag Archives: China National Petroleum Corp.
BEIJING — State-owned PetroChina Ltd., Asia’s biggest oil and gas producer, says its quarterly profit declined 82 percent from a year earlier due to a sharp decline in oil prices. The Beijing-based company said it earned 6.2 billion yuan ($989 million), or 0.03 yuan (0.5 cents) per share in the three months ended March 31. Total revenue fell 22 percent ...Read More »
SINGAPORE – Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in the North Sea and healthy growth in China’s implied oil demand this year supported prices. A reduction in rig counts and expectation of better oil demand have helped Brent prices rise by around 15 percent so far ...Read More »
YANGON, Myanmar — Myanmar has officially opened a deep sea port off its western coast, part of a $2.45 billion port and pipeline project that will carry crude oil from the Middle East to China. The port and 770-kilometer (480-mile) pipeline are a joint venture between the China National Petroleum Corp. and Myanmar Oil and Gas Enterprise. Both are state ...Read More »
By Louise Watt and Vladimir Isachenkov | The Associated Press SHANGHAI — China signed a landmark deal Wednesday to buy Russian natural gas worth about $400 billion, giving a boost to diplomatically isolated President Vladimir Putin and expanding Moscow’s ties with Asia. Price negotiations on the 30-year deal continued into the final hours of a two-day visit by Putin to China, during which ...Read More »