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The latest upstream oil and gas news from around the world.

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Saudi Aramco Chief Promises Oil Tax Cut to Lure Investors to IPO

Tue, 17 Jan 2017 00:00:00 GMT

Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering.

Kremlin Says VTB Financing Rosneft Deal Not On Its Agenda

Tue, 17 Jan 2017 00:00:00 GMT

Russian state bank VTB financing the privatisation of Rosneft last year is a commercial issue which is not on the Kremlin's agenda, Kremlin spokesman Dmitry Peskov says.

Oil Prices Might Eventually Feed Into Core Inflation, ECB's Nowotny Says

Tue, 17 Jan 2017 00:00:00 GMT

Core inflation in the euro zone has not increased significantly but a rise in energy prices might eventually drag it upwards, European Central Bank Governing Council member Ewald Nowotny says.

Mexico's IEnova Will Invest $800M for Pipelines in 2017

Mon, 16 Jan 2017 00:00:00 GMT

Mexican energy infrastructure firm IEnova, a unit of US-based Sempra Energy, will invest $800 million this year on eight projects, CEO says.

EU Energy Watchdog: Serbia Should Rework Gas Deal With Gazprom

Mon, 16 Jan 2017 00:00:00 GMT

Serbia should renegotiate its long-term gas supply deal with Russia's Gazprom, a body in charge of extending the EU's energy policy says.

IMF Slashes Saudi Arabia Growth Forecast on Lower Oil Output

Mon, 16 Jan 2017 00:00:00 GMT

The IMF cuts its growth outlook for Saudi Arabia on lower oil production, underscoring the challenges facing the kingdom as it seeks to overhaul its economy.

Kemp: Oil Prices Stall as Hedge Funds Stop Adding to Longs

Mon, 16 Jan 2017 00:00:00 GMT

Hedge fund bullishness toward the price of crude oil appears to have peaked for the time being, with fund managers booking some profits after the strong rally in the final seven weeks of 2016.

Oil Currencies Uncoupled From Crude Swings Likely to Renew Link

Fri, 13 Jan 2017 00:00:00 GMT

Some breakups just aren't meant to last. That's what currency strategists are saying about the split between the price of oil and money.

Russia's Lukoil CEO, His Deputy Sell Shares Worth $16.4 MM

Fri, 13 Jan 2017 00:00:00 GMT

Lukoil's CEO Vagit Alekperov and his deputy Leonid Fedun sell Lukoil shares worth $16.375 million in total.

Supply Chain Partnership Helping PEMEX Manage Payments

Thu, 12 Jan 2017 00:00:00 GMT

PEMEX copes with declining oil prices by addressing its supply chain issues, an industry observer tells Rigzone.

Premier Oil Expects Weak Pound To Help Bottom Line

Thu, 12 Jan 2017 00:00:00 GMT

Premier Oil expects to continue reaping benefits from weak sterling this year, as the depreciating currency has brought down the cost of investments in Britain at a time of low oil prices.

C&J Energy Emerges From Bankruptcy With $220M Liquidity

Mon, 09 Jan 2017 00:00:00 GMT

C&J Energy Services is latest of oil and gas companies to complete financial restructuring brought on by the industry downturn.

Brazil's Petrobras Breaks Drought In LatAm Market

Mon, 09 Jan 2017 00:00:00 GMT

Petrobras opened the Latin American primary markets with the region's first cross-border bond sale of the year.

Pipeline Debt Rolls On for Canada Energy as Producers Wait

Fri, 06 Jan 2017 00:00:00 GMT

Pipelines will lead the charge in Canadian energy companies in debt issuance this year amid signs the recovery in the industry is solidifying.

CGG Looks to Achieve Financial Restructuring

Thu, 05 Jan 2017 00:00:00 GMT

French geophysical services company CGG is looking to commence discussions with stakeholders in order to achieve a financial restructuring.

Vitol Clinches $1 Bln Pre-Finance Oil Deal With Iran-Sources

Wed, 04 Jan 2017 00:00:00 GMT

Vitol has clinched a deal with the National Iranian Oil Co. to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with the matter said.

Oil, Gas Explorers Headed for IPO Are Finding Buyers Circling

Fri, 30 Dec 2016 00:00:00 GMT

As oil prices stabilize and confidence returns to the patch, there's been an uptick in oil and gas companies filing to go public.