- Qatar Petroleum Takes 15% Stake in Total E&P Congo
Qatar Petroleum International and Total sign a framework of Agreement whereby QPI will participate in Total E&P Congo through its subscription to a 15% share capital increase of this company.
- Sudan Accused of Blocking Oil Exports
South Sudan has accused its neighbor Sudan of blocking oil flow from its Unity state.
- Brazil's OSX Cuts Workforce Amid Broader Reorganization
OSX Brasil has laid off more than 300 employees as part of a broader reorganization plan to reduce spending and focus on hard orders.
- BP's Investment in Iraq to Reach $5B by 2016
BP plans to increase the production capacity at the Rumaila oilfield by 750,000 barrels per day and aims to increase its spending in the country to $5 billion a year, a senior exec. says.
- UK Shale Gas Industry Could Support 74,000 Jobs
Institute of Directors’ report claims investment in the UK shale gas industry could peak at $5.6 billion a year and support 74,000 jobs.
- Oil Drops as Gasoline Stocks Rise, Fed Weighs Winding Down of Stimulus
Crude futures drop 2% on a government report showing rising fuel supplies and signs that the Federal Reserve may be closer to winding down stimulus efforts.
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