India asks OPEC not to cut oil production; Petroleum Minister Pradhan seeks better commercial terms

Battling a slowing economy, India implored oil cartel OPEC to not undertake deeper crude oil production cuts last week, as it renewed its pitch for reasonable pricing of oil and stability in supplies. In a meeting with OPEC Secretary-General Mohammad Sanusi Barkindo, Oil Minister Dharmendra Pradhan also pitched for better commercial terms for crude oil […]

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UAE, China oil giant in $1.77 billion onshore deal

The Abu Dhabi National Oil Company has given China National Petroleum Corporation an eight percent interest in Abu Dhabi’s onshore oil concession for $1.77 billion. The onshore concession is operated by the Abu Dhabi Company for Onshore Petroleum Operations (ADCO). CNPC is China’s largest oil and gas producer and supplier, as well as one of […]

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Moody’s whacks 18 oil-exporting nations with downgrades or reviews on lower crude prices

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Moody’s Investors Service said it had initiated reviews for for 12 oil-exporting nations for downgrade to assess the full impact of the oil price shock in a systematic and consistent manner. In four cases, Moody’s has downgraded the ratings and placed them on review for further downgrade to reflect the minimum impact that it believes […]

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