Reuters are reporting that PetroChina Ltd is in advanced discussions with Qatar to purchase LNG under short- and long-term agreements. China needs to secure LNG to supply its push to replace coal with…
Complementary LNG forces to the fore in Qatar
Ras Laffan in Qatar is home to the world’s most productive LNG liquefaction complex, the world’s largest LNG carrier fleet and the world’s newest LNGC repair yard Located within the Erhama Bin…
Extension of North Sea mega-field gets final approval
Oil firm Nexen Petroleum UK has said its partners have given it the nod to extend the life of the North Sea’s biggest producing field. Nexen, owned by the China National Offshore…
Can the GCC keep afloat without oil?
The GCC as we know it today would not be the same were it not for the discovery of oil in the region in the early years of the last century. Now,…
Troubled UK outsourcer Interserve blames the blockade against Qatar for its woes, with debt mounting to £614.3m
Shares in Interserve slumped as it revealed debts of £614.3million Half-year sales fell from £1.64billion to £1.5billion while it made a £6million loss Bosses said revenue from Qatar was down £31.2million over…
Saudi-Canada Fight Shows Need for Pipelines, Oil Group Says
The escalating trade battle between Canada and Saudi Arabia highlights the need for more pipelines to move oil and natural gas around the northern nation to improve its energy security, according to the Canadian…
Why has Canada spent billions of dollars buying Saudi Arabian oil?
Despite sitting on an ocean of oil, Canada still buys $300 million per month of Saudi crude As Saudi Arabia aggressively severs ties with Canada, the two countries’ trade relationship hangs in…
Mohammed bin Salman Is Weak, Weak, Weak
When I pulled my Hyundai out of the driveway two weeks ago and headed 450 miles north, it was only for a short vacation, but I was still excited to be leaving…
Turkey admits to 3 more years of missing inflation target
Bloomberg/Ankara Turkey’s central bank yesterday acknowledged it won’t meet its 5% inflation target for three more years, disappointing investors seeking signs that monetary policy would tighten. Although governor Murat Cetinkaya pledged to…
Higher Oil Price Boosts BP’s Recovery; Profit Up Fourfold
Higher oil prices and increased output helped BP Plc (NYSE: BP) quadruple its second-quarter profit from a year earlier as the oil major finally shakes off the after-effects of 2010’s Deepwater Horizon spill…