PetrolDaily

28.08.2008

Venezuelan President Hugo Chavez is going to nationalize gasoline sales in the country. Such a bill is already presented to the National Assembly and initial approve was received today. The final approval of the legislation is expected later this week.

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Will OPEC cut output?

28.08.2008
Venezuelan Energy Minister Rafael Ramirez told in his interview to state television on Aug 27 that OPEC should cut or at least maintain current oil production output levels at its next meeting in September.
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Nigeria’s ambitious plans

28.08.2008
Nigeria plans to move 20 percent of the country’s energy consumption to renewable energy sources by 2012. Yesterday in Accra Head of the Nigeria Special Climate Change Unit Dr Victor Fodeke said that currently the country is in “awful” energy situation.
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CNPC - Iraq contract

28.08.2008
Iraq’s oil minister Hussain Shahristani yesterday revived 3 billion oil service contract with China National Petroleum Co on the development of the al-Ahdab oilfield. This is the first major oil contract since the fall of Saddam Hussein, and the first significant arrival of the foreign company in Iraq since nationalization of the country’s industry in 1972.
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PetroChina report

27.08.2008
PetroChina is expected to report a drop in its first-half net profits at least by a third, caused by losses in its refining business, in spite of high crude oil prices. While global oil giants receive record profits Chinese government price controls prevent PetroChina and other Chinese refiners from selling crude oil for higher prices. This causes heavy loses in refining, despite of big subsidies.
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Kuwait increases export

27.08.2008
State-owned Kuwait Petroleum Corporation increased oil export to china by 50 percent since last year said chief executive Saad al-Shuwab. Crude sales to China have risen to 120,000 barrels a day from 80,000 barrels a day in 2007. Within the past three years Kuwait’s crude sales to China increased by six times (from 20,000 bpd).
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Palm oil for biofuel

06.08.2008
Malaysia and Indonesia will cooperate in a biofuel development program, and may use the same biofuel specifications and amount of blending, Malaysia's commodities minister said.
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Will NNPC break up?

06.08.2008
NNPC will be probably broke up after a statement made by a panel engaged to look at reforming Nigeria’s oil and gas sector headed by Rilwanu Lukman, advisor on oil matters to Nigerian President Umaru Yar’Adua as well as former president Olusegun Obasanjo.
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Japan – what next?

25.07.2008
Japan's retail regular gasoline pump prices fell further this week from the record high hit two weeks ago, a research body said on Thursday.
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Gazprom cuts jobs

18.07.2008
Russian gas export monopoly Gazprom plans to cut up to 10 percent of the workforce in its Moscow headquarters as part of a cost cutting programme, Kommersant business daily reported on Friday quoting sources.
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Oil workers union

18.07.2008
Nigeria's main oil workers union NUPENG threatened Thursday to pull out its members if there was no improvement to the worsening security climate in the country's Niger Delta.
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Blast cuts a pipeline

18.07.2008
A pre-dawn explosion damaged an Eni SpA oil pipeline in Nigeria's restive southern oil region today, a military official said.
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Petrobras strike spreads

16.07.2008
Brazil's main oil workers' federation will begin a 48-hour nationwide strike on tomorrow without interrupting production, union leaders said after a vote.
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