Oil and gas

April 23, 2014

1

Asia Naphtha/Gasoline-Naphtha crack up on Algeria delays

The Asian naphtha crack rose to a three-month high of $151.88 a tonne on Wednesday, supported by expectations of tighter prompt supplies due to delays from the Mediterranean. Algeria has reduced naphtha output and is delaying some naphtha exports, traders said. But the reasons behind the delays were unclear. The export delay in Algeria outweighed the shutdown by JX Nippon Oil & Energy of a 443,000 tonnes-per-year cracker in Kawasaki, which uses naphtha as feedstock. "The JX impact on naphtha demand may not be big," a Singapore-based trader said. The delay also"...

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April 23, 2014

2

UK energy quest highlights human rights concerns in gas-rich countries

George Osborne and Boris Johnson were lined up to speak, the London Stock Exchange (LSE) was to provide the venue and the Royal Philarmonic Orchestra the evening entertainment.


A plush red carpet was rolled out by the British establishment last month – but not for senior politicians or business"...

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April 22, 2014

3

Schlumberger Announces First-Quarter 2014 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.57 billion in the first quarter of 2013.


Income from continuing operations attributable to Schlumberger, excluding charges and credits, was $1.59 billion—a decrease of 11% sequentially but"...

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April 22, 2014

4

Emilio Lozoya of Pemex Chosen as 2014 “Petroleum Executive of the Year”

Energy Intelligence announced today that Emilio Lozoya Austin, CEO of Petróleos Mexicanos (Pemex), has earned the distinction of his peers as “Petroleum Executive of the Year.” The 2014 award, as selected by top global industry executives, will be presented to Mr. Lozoya on October 29 at an honorary dinner during the 35th Annual Oil & Money Conference in London. Energy Intelligence jointly convenes Oil & Money with the International New York Times.


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April 17, 2014

5

Economist says Algeria will need its shale gas

Algeria will be forced to exploit its shale gas in the next 10 years, not only to meet the rising annual local demand for energy, but also to cover the total public expenditure and the cost of social transfers and to guarantee the continuation of subsidies on basic commodities, which represent 30% of the total budget.


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April 16, 2014

6

Newmont Publishes 2013 Sustainability Report

Newmont Mining Corporation (NYSE: NEM) today published its 2013 sustainability report, Beyond the Mine. The report reflects Newmont’s reporting obligations as a founding member of the International Council of Mining and Metals (ICMM) as well as its commitments under the Voluntary Principles on Security and Human Rights (VPSHR), the United Nations Global Compact and the Global Sullivan Principles. Finally, the report complies with the Global Reporting Initiative’s (GRI) international standard for sustainability reporting.


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April 16, 2014

7

ADM Announces Significant Actions in Ongoing Portfolio Management

Archer Daniels Midland Company (NYSE: ADM) today announced three significant actions in the company’s ongoing portfolio management: an agreement to sell the company’s South American fertilizer business, pursuit of the sale of the company’s chocolate business, and the acquisition of the remaining stake of Alfred C. Toepfer International GmbH.


“We are"...

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April 15, 2014

8

Construction Begins on Central Project in Wafra Oil Field

Saudi Arabian Chevron Inc. announced today that an integral project entered the construction phase, as leaders from Wafra Joint Operations, the Kuwait Gulf Oil Company, Saudi Arabian Chevron and key business partners supporting the project gathered for a ceremonial groundbreaking on the Main Gathering Center (MGC) Revamp Project.


“This investment is a commitment to"...

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April 15, 2014

9

Algeria, partners agree on extra safety for In Amenas gas plant

The partners of Algeria's In Amenas gas plant have agreed on the extra safety needed for the return of foreign staff after last year's deadly assault by Islamic militants, a top executive at co-owner Statoil said.


Attackers, operating from Libya, raided the site deep in the Sahara desert, taking foreign workers hostage in a four-day siege that"...

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April 15, 2014

10

Sonatrach to fund two cancer hospital projects in Hassi Messaoud, Algiers

State-owned oil group Sonatrach will finance the building of two specialized cancer hospitals in Hassi Messaoud, province of Ouargla (800-km southeast of Algiers) and in Algiers, a source from the ministry of Health told APS Sunday.


Sonatrach's decision to finance cancer hospital projects "is part of its citizenship actions, as the group has always provided support to the"...

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