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Tag Archives: ExxonMobil

Nigerian lawyer sent in to clean up state oil giant

ABUJA/LAGOS – The new head of Nigeria’s state oil company is a workaholic stickler for the rules with a strong background in law, qualities he will need if he is to overhaul an organization notorious for corruption and mismanagement. Emmanuel Ibe Kachikwu, the new managing director of the Nigerian National Petroleum Corp (NNPC), was previously executive vice chairman and general ...

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ExxonMobil temporarily halts oil production off Santa Barbara after oil spill

ExxonMobil has shut down oil production at its three platforms off the Santa Barbara County coast a month after a corroded pipeline owned by Texas company Plains All American Pipeline burst, effectively cutting off the flow of Exxon’s crude. The oil giant halted operations at the Heritage, Harmony and Hondo offshore platforms late last week after it exhausted storage space ...

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China becomes world’s top crude buyer despite economy stuttering

SINGAPORE – China overtook the United States as the world’s top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets. The soaring imports came as a surprise as growth in the world’s second-largest economy was sputtering and its ...

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Vitter boasts long list of energy industry backers in gubernatorial bid

With the impending gubernatorial election in October, current Louisiana Senator David Vitter appears to be the leading candidate. In addition to being popular, Vitter has $4.2 million in his campaign fund, according to Environment & Energy Publishing. The senator’s war chest contains numerous donations from a wide range of companies in the energy sector. Although each donor, whether it be ...

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Russia’s sole offshore Arctic field to double oil output in 2015

MOSCOW – Gazprom Neft, the oil arm of Russia’s top natural gas producer Gazprom, plans to more than double oil output this year at the Prirazlomnoye field, Russia’s sole Arctic offshore oil project, the company said on Friday. Last year, oil production at the field totalled 300,000 tonnes. Development of Russia’s offshore Arctic riches has been hampered by Western sanctions ...

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