- Chasing China's new drivers risks gasoline glut for refiners
June 01, 2016
Chinese fuel makers rushing to cash in on the nation’s booming car market may end up creating a glut of gasoline, possibly forcing the excess onto overseas markets.
Read Article
- Market analysis: Production disruptions lift oil with Oman crude reaching yearly highs
June 01, 2016
Oman crude oil trading on the Dubai Mercantile Exchange increased for the fourth consecutive month in May, rallying to fresh yearly highs as production cuts and unscheduled outages around the world combined to eradicate the oversupply in the marke...
- Total SA to acquire Gulf Africa Petroleum Corp from Reliance Industries
June 01, 2016
As reported by Reuters, Total SA has agreed to purchase the entire respective holdings in cash in Gulf Africa Petroleum Corp (Gapco) from Reliance Industries. The price of the deal is yet to be disclosed.
Read Article
- LNG glut seen by FGE pushing prices to $3 as soon as next year
May 31, 2016
Liquefied natural gas spot prices will fall to $3 per million British thermal units by mid-2017 or 2018 as new projects worsen a global glut, according to energy consultant FGE.
Read Article
- Reliance to sell East African oil retailer Gapco to French major Total
May 31, 2016
French major Total has agreed to buy East African oil retailer Gulf Africa Petroleum Corp (Gapco) from Reliance Industries for an undisclosed amount as it seeks to strengthen its presence in the continent.
Read Article