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* Oil products supply market worth $15 billion a year * SOCAR, Phillips 66 eye stepping up sales to region * Region has only one functioning refinery * Trafigura, BP, Reliance already well established By Humeyra Pamuk and Emma Farge DUBAI/GENEVA, Feb 21 (Reuters) - E
21 Feb 13 11:59British defence giant BAE Systems has warned it will be forced to cut 3,500 jobs in the US if the threat of Pentagon spending cuts becomes reality. The company said it had warned staff within its US ship repair business of the possible cuts after the US Navy signalled its 'intent to cancel' a number
21 Feb 13 06:58MOSCOW, Feb 20 (Reuters) - Russia's third-largest crude producer TNK-BP, due to be taken over by state oil company Rosneft in the coming months, wants to enter the U.S. shale business, its head of international projects said on Wednesday. TNK-BP Senior Vice President Boris Zilbermints said
20 Feb 13 07:48LONDON/SAN FRANCISCO, Feb 19 (Reuters) - A U.S. judge ruled on Tuesday that BP Plc recovered 810,000 barrels of oil from its 2010 spill site and that this amount should be excluded from certain penalties it may face, cutting its maximum fine by as much as $3.5 billion. Just days before he p
20 Feb 13 05:07Feb 19 (Reuters) - A federal judge on Tuesday gave final approval to Transocean's $1 billion civil settlement related to BP Plc's massive Gulf of Mexico oil spill in 2010. U.S. District Judge Carl Barbier signed the agreement, according to the court document filed in federal court in New Or
19 Feb 13 18:04The US Department of Justice has backed BP's claim that it should be exempt from penalties regarding the oil it recovered from the 2010 Deepwater Horizon spill, the company said Tuesday in a statement ahead of its trial. The oil giant faces court next Monday for its role in the explosion of its Gu
19 Feb 13 14:40Feb 19 (Reuters) - India's Reliance Industries and UK partner BP plan joint investment of more than $5 billion over the next three to five years to boost declining output at a key natural gas field off India's east coast. The D6 block in the Krishna Godavari basin was expected to contribute
19 Feb 13 13:31LONDON, Feb 19 (Reuters) - BP said the U.S. Department of Justice has backed its claim that oil it recovered at the 2010 spill site should be excluded from certain penalties it could face, potentially cutting its final fine by as much as $3.5 billion. Just days before its civil trial is due
19 Feb 13 13:22Feb 19 (Reuters) - India's Reliance Industries said the company and its partner BP Plc plan to jointly invest more than $5 billion over the next three to five years to boost output at a key natural gas field off India's east coast. The D6 block in Krishna Godavari basin is jointly operated
19 Feb 13 12:19* Rosneft says "mutual understanding" on increasing oil supplies to China * Rosneft's Sechin heads to Japan to discuss Russian offshore oil, gas MOSCOW, Feb 19 (Reuters) - Russia's top crude producer Rosneft agreed in principle to boost oil deliveries to China during a visit to Asian
19 Feb 13 10:00* Sechin heads to Japan to discuss Russian offshore oil, gas * Rosneft offered to increase oil supplies to China MOSCOW, Feb 19 (Reuters) - Igor Sechin, the head of Russia's top crude producer Rosneft, will discuss offshore projects with Japanese companies in the final leg of a trip a
19 Feb 13 07:52David Cameron has said he wants state-backed Royal Bank of Scotland to speed up restructuring and has refused to rule out giving the government's share in the bank to the public. The government owns 82pc of RBS after pumping in 45bn pounds of capital when the bank neared collapse in 2008. Speaking i
19 Feb 13 06:55LONDON, Feb 18 (Reuters) - OPEC member Angola is due to export around 1.73 million barrels per day (bpd) of crude oil in April, a provisional loading programme showed on Monday, down slightly from March. The programme showed that a total of around 52 million barrels would load in April aboa
18 Feb 13 16:54ALGIERS, Feb 18 (Reuters) - Algeria's In Amenas gas plant is likely to resume partial output in the next six days, the head of state energy firm Sonatrach was quoted as saying on Monday, after repairs following a siege by Islamist militants. "I think we will restart just before February 24,
18 Feb 13 12:27JERUSALEM, Feb 18 (Reuters) - Israeli real estate, energy and insurance conglomerate Delek Group is examining the sale of all or part of its European unit, it said on Monday. It said in a statement to the Tel Aviv Stock Exchange third parties could submit bids to buy Delek Europe BV and the
18 Feb 13 12:14
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