Europe
Oil rallies 2% as Saudi promises to cut exports
LONDON (Reuters) — Oil rose by more than 2% on Tuesday after Saudi Arabia vowed to reduce exports from next month and OPEC called on members to boost compliance with agreed output cuts to help curb oversupply and support flagging crude prices.
Russia is top China oil supplier 4th straight month in June, longest streak ever
BEIJING (Reuters) — Russia was China's biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed on Monday.
Saudi calls OPEC members to stick to limits, sees oil demand up
ST PETERSBURG, Russia (Reuters) — OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs.
CGG GeoSoftware donates software suite to petroleum learning center in Russia
CGG GeoSoftware has donated a full suite of its software technologies to the Petroleum Learning Centre, a joint educational project of Tomsk Polytechnic University in Russia and Heriot-Watt University in Scotland.
MOL Group partners with Evonik, thyssenkrupp for Polyol Project
BUDAPEST — Half a year after the announcement of the 2030 strategy, MOL Group has reached an important milestone in its industrial transformational journey. The license agreements signed with Evonik and thyssenkrupp, will enable MOL to produce propylene oxide, a key component for the production of polyether polyols. MOL intends to become a significant producer of polyether polyols, high-value intermediates for products applied in the automotive, packaging and furniture industries.
Russia, Venezuela discuss Citgo collateral deal to avoid US sanctions
CARACAS/HOUSTON (Reuters) — Russia's top oil producer Rosneft is negotiating to swap its collateral in Venezuelan-owned, US-based refiner Citgo for oilfield stakes and a fuel supply deal—a move to avoid complications from US sanctions, two sources with knowledge of the negotiations told Reuters.
Union seeks partial stoppage at Portugal Galp refineries
LISBON (Reuters) — The union representing workers at Portugal's Galp Energia has called a six-day strike at the company's two refineries starting on July 26 to demand that Galp resume a collective bargaining agreement.
Brent oil climbs above $50 for first time since early June
LONDON (Reuters) — Brent crude oil rose above $50/bbl for the first time since early June on Thursday, adding to gains made the previous session when falling US crude and oil product inventories lifted the market.
French court repeals law on regulated gas prices
PARIS (Reuters) — France's highest administrative court on Wednesday repealed a law on regulated gas prices, which covers about half of France's retail customers and 11% of professional users, saying it hurt competition and was against European Union regulations.
Romania's OMV Petrom starts work on new polyfuel unit at Petrobrazi
(Reuters) — Romania's oil and gas group OMV Petrom says it has started construction of a new Polyfuel unit at its Petrobrazi Refinery.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
