Industry Developments

Brent futures lost nearly US$6 per barrel (bbl) on August 4 2011, marking the seventh loss in as many trading sessions on the Intercontinental Exchange (ICE).

European refiners Petroplus and ERG have both reported losses for Q211 following weak European refining margins and heavy maintenance.

Belgian pipeline operator Fluxys is in talks to buy two gas pipeline systems from Italian major Eni, the general secretary of principal Fluxys shareholder Publigas told Reuters on August... 2011-08-02

Abu Dhabi's state holding company International Petroleum Investment Co (IPIC) has completed the takeover of Spanish downstream player Compañía Española de Petróleos (CEPSA) through... 2011-08-02

All developments in the UK North Sea take place against a background of inexorably declining oil and gas production, and the latest official figures serve as a timely reminder that... 2011-07-29

Eni will likely face pressure from the Ghanaian government to prioritise the domestic market in developing recent gas discoveries. However, as the resource base grows, LNG exports look... 2011-07-29

Anglo-Dutch major Royal Dutch Shell has reported Q211 net income of nearly US$8.7bn, up 97% year-on-year (y-o-y).

BP announced its Q211 financial results on July 26 2011. The UK-listed major reported a replacement cost profit of US$5.31bn with a total profit for the period of US$5.62bn.

BG Group has cheered investors with strong H111 earnings, and we believe the company is poised for strong growth.

The highest Italian court has overturned a ruling halting the development of a liquefied natural gas (LNG) terminal in the southern island of Sicily.