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Recent Crude Oil News

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Rosneft and BP sign agreement to dissolve the joint venture Ruhr Oel GmbH as part of German refining venture restructuring

Date: 15 January 2016--Rosneft and BP today announced that they have signed a binding agreement to dissolve the existing refining JV Ruhr Oel GmbH (ROG) as they move toward completion of the previously announced restructuring of the two companies’ German refining and petrochemical venture. The agreement was approved by the Rosneft Board of Directors at the meeting on December 31, 2015 and by the Board of BP Europa SE on 14 January, 2016. More...

BP agrees to sale of Alabama petrochemical complex

Expected to close in early 2016, deal marks a key step in restructuring of BP’s global petrochemicals business

Date: 6 January 2016--HOUSTON – BP has agreed to sell its petrochemical complex in Decatur, Alabama, to Indorama Ventures Public Company Limited, as part of a previously announced effort to refocus its global petrochemicals business for improved profitability and long-term growth. More...

Shell agrees to sell its shareholding in the Shell Refining Company in Malaysia to Malaysia Hengyuan International Limited (MHIL)

01-Feb-2016 -- Shell has reached a conditional agreement with Malaysia Hengyuan International Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million. It is MHIL’s intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements. The transaction is expected to complete in 2016, subject to obtaining regulatory approval. More...

Chevron Reports Fourth Quarter Loss of $588 Million And 2015 Earnings of $4.6 Billion
Fourth quarter earnings include impairments and other charges of $1.1 billion | 107 percent oil and gas reserves replacement

San Ramon, Calif., January 29, 2016 – Chevron Corporation (NYSE: CVX) today reported a loss of $588 million ($0.31 per share – diluted) for fourth quarter 2015, compared with earnings of $3.5 billion ($1.85 per share – diluted) in the 2014 fourth quarter. Foreign currency effects increased earnings in the 2015 quarter by $46 million, compared with an increase of $432 million a year earlier. More..

INEOS wins 21 new shale gas licenses in final part of UK Government’s 14th Licensing Round

Thursday, 17 December 2015--
INEOS was today awarded 21 new shale gas licences as the final part of the UK Government’s 14th licensing round. The company, which is now one of the UK’s biggest shale gas players, was awarded 700,000 acres on top of its existing 300,000 acres. More...

Shell updates on Alaska exploration

EIA REPORT: Sustained low oil prices could reduce exploration and production investment


ExxonMobil to Expand U.S. Domestic Crude Processing Capacity at Beaumont Refinery

OPEC’s Annual Statistical Bulletin to be launched 24 June 2015

Rosneft and BP Sign Production, Exploration and Refining Agreements

Chevron to move deepwater U.S. Gulf of Mexico platform to sheltered waters following damage to installation tendons

OPEC 167th Meeting concludes No 3/2015

Technology From Honeywell International Inc. (U.S.) To Run Largest Refinery In Africa

SunEdison and TerraForm Power Sign Definitive Agreement to Acquire First Wind for $2.4 Billion

Exxon Mobil Corporation Announces Estimated Third Quarter 2014 Results

ExxonMobil Announces New Projects to Expand Specialty Hydrocarbon Fluid Production

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