
Sinopec Subsidiary To Acquire 33pc Stake In Egypt Exploration Asset Of Apache Corporation
BEIJING - Sinopec International Petroleum Exploration and Production Corporation (SIPC), a fully-owned subsidiary of Sinopec Group, has entered into an agreement with US firm Apache Corporation announced to acquire 33 percent stake in its Egypt oil and gas business as part of a global strategic partnership to pursue joint upstream exploration projects. Sinopec will pay $3.1 billion in cash, ...
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Class Suit Filed Against PetroChina In US
HONG KONG - PetroChina Co., the largest state-owned Chinese energy company, Friday informed the Hong Kong stock exchange of plans to contest a lawsuit filed by an investor in the U.S. claiming damages for failure to disclose corruption within the company leading to the government initiating investigations. Johan Broux, an investor in Belgium, filed the complaint in Manhattan federal court on ...
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NATO Oil Tankers Attacked In Pakistan
At least nine oil tankers, carrying supplies to the NATO forces were destroyed in an attack in Balochistan Friday, Pakistani media reported. The attack took place in Qallat district of Balochistan, Geo News reported. According to police, the tankers caught fire when unidentified motorcycle-riding attackers targeted them with rockets, the Dawn newspaper reported. The Dawn report said that one ...
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5 Pc Of Nigerian Oil Being Stolen And Sold Overseas
LONDON - At least 100,000 barrels a day of crude oil or 5 percent of Nigeria's domestic production is being stolen and sold in global markets, threatening the integrity of the financial system and legitimate oil trade, according to a report by international think tank Chatham House. "Nigerian crude oil is being stolen on an industrial scale. Nigeria lost at least 100,000 barrels of oil per ...
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Tullow Makes Fourth Oil Discovery In Kenya
NAIROBI - British exploration firm Tullow Oil has made the fourth consecutive oil discovery since 2012 at Ekales-1 wildcat, located in Block 13T in Northern Kenya. Wildcat drilling, also known as exploratory drilling usually occurs in areas where potential for oil and gas has not been explored. The Ekales-1 well is located between the Ngamia-1 and Twiga South-1 oil discoveries and the ...
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Shell Innovation Vital To Australias LNG Future
Innovation will play a key role in the competitiveness of Australia’s liquefied natural gas (LNG) industry as global production grows substantially in the next decade, according to Shell Development Australia’s Commercial General Manager Doug Buckley. Speaking at the Australian National Conference on Resources and Energy (ANCRE) in Canberra Friday, Shell’s Doug Buckley said new ...
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Constitutional Court In France Upholds Ban On Fracking
PARIS - The constitutional council of France Friday upheld a 2011 ban on the oil and gas extraction process known as fracking and cancelling all exploration permits. Rejection of the challenge to the legality of the government's ban on shale gas exploration comes just two days after the European Parliament voted to require full environmental reports from companies that want to establish ...
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Fish Oil Could Cut Brain Abnormality Risk In Elderly
High long-chain omega-3 polyunsaturated fatty acid content in blood could cut small brain infarcts' risk and other brain abnormalities in elderly people, a new study has suggested. In the Cardiovascular Health Study in the USA, 3,660 people aged 65 and older underwent brain scans to detect so called silent brain infarcts, or small lesions in the brain that can cause loss of thinking skills, ...
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