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Russia’s idle oil refining capacity in September seen up 34% vs August, data shows

*An employee looks out over the illuminated petroleum cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery, operated by OAO Lukoil, in Nizhny Novgorod, Russia, on Thursday, Dec. 4, 2014. (Andrey Rudakov/Bloomberg via Getty Images.) Moscow — […]

Putin’s commodities ban threat puzzles Russian firms and officials

“Everyone is in a state of shock,” said a source in one of the affected companies, who spoke on condition of anonymity due to the sensitivity of appearing to criticise the president. “This initiative came […]

IPAA backs Senate passage of Royalty Resiliency Act

(WO) — The Independent Petroleum Association of America (IPAA) has expressed support for the U.S. Senate’s passage of H.R. 7377, the “Royalty Resiliency Act.” Sponsored by Congressman Wesley Hunt (TX-38), the bill seeks to address […]

bp selects ABS for Kaskida deepwater project in Gulf of Mexico

(WO) — bp has chosen ABS to support its deepwater Kaskida project in the Gulf of Mexico. ABS will provide classification and engineering verification for the project’s new semisubmersible production unit. “ABS is […]

Nigerian communities seek $310m from Shell, want asset sale stopped

*Shell Petroleum Development Company Abuja — Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its […]

US gasoline prices set to fall under $3/gallon as election nears

Softer gasoline prices, resulting largely from weaker fuel demand and sliding oil prices, are a relief for consumers who have struggled with record high fuel costs that have stoked inflation. Lower prices could also help […]

Oil prices fall below $70 amid weak data and market concerns, Rystad Energy reports

(WO) — At the Asia Pacific Petroleum Conference (APPEC) in Singapore this week, traders were generally bearish, with many predicting oil prices could drop to $60 per barrel, despite Brent crude falling below $70, according […]

NCDMB Executive Secretary, Abia governor meet over Industrial Park

NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe (left) and Abia State governor, Dr Alex Otti, during the meeting over industrial park Oritsegbubemi Omatseyin Lagos — The Executive Secretary of the Nigerian Content Development and Monitoring Board, […]

APA sells Permian basin oil and gas properties to mystery buyer for $950 million

(WO) – APA Corporation has entered into an agreement for the sale of non-core producing properties in the Permian basin to an undisclosed buyer for $950 million. The properties are located in the […]

Gov Fubara pledges support for crude oil production increase

Rivers State Governor, Sir Siminalayi Fubara, with the Chief of Defence Staff, General Christopher Musa. – Assures of synergy against oil theft Mkpoikana Udoma Port Harcourt — Rivers State Governor, Sir Siminalayi Fubara, has pledged […]