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Eni says Milan prosecutors open probe into Nigeria oil block deal MILAN: Italian oil and gas group Eni said on Friday it had received notice that Milan prosecutors had opened a probe into its acquisition, together with Shell, of a big oil field in Nigeria. "Eni declares the absolute properness of its handling of the dealings in question and assures its full cooperation with Italian prosecutors," it said in an emailed statement. The probe revolves around the purchase offshore oil block OPL 245. British police opened an investigation into money laundering allegations relating to the field last year. Judicial sources said the probe was related to alleged international corruption around the purchase of the block. Copyright Reuters, 2014 ...
Oil extends losses as Libyan supplies to return LONDON: Oil extended losses on Thursday on prospects that Libya will begin exporting more crude into a global market flush with supplies, while easing concerns about the Iraqi crisis also weighed.Brent North Sea crude for delivery in August dropped 59 cents to stand at $110.65 a barrel in London midday trade.US benchmark West Texas Intermediate (WTI) for August fell 67 cents to $103.81 a barrel.Prices dropped after Libya's interim Prime Minister Abdullah al-Thani on Wednesday ...
Brent dips below $111, Libya says oil crisis is over LONDON: Brent crude futures dipped below $111 a barrel on Thursday as supply fears began to ease after Libya declared an end to an oil crisis that has slashed exports from the OPEC member.Libya's government said it had reached a deal with a rebel leader controlling oil ports to hand over the last two terminals and end a blockade, potentially making an extra 500,000 barrels per day (bpd) of crude available for export."The market has ...
UK gas prices continue to slide as warm weather reduces demand LONDON: British prices for wholesale natural gas continued to decline on Thursday as higher temperatures reduced demand and healthy supply increased injections into storage.Gas for delivery on Friday was down 0.50 pence from the previous close at 38.00 pence per therm by 0807 GMT, while gas for immediate delivery traded 0.40 pence lower at 38.00 pence per therm.Demand on Thursday was forecast to be 169 million cubic metres (mcm), around 15 mcm below the seasonal ...
Oil prices lower after US data LONDON: Oil prices fell on Wednesday, hit by the prospect of higher Libyan output but losses were capped by a bigger-than-expected drop in US crude inventories and Iraq unrest, analysts said.Brent North Sea crude for delivery in August dropped 71 cents to stand at $111.58 a barrel in late London deals.US benchmark West Texas Intermediate for August slipped 43 cents to $104.91 a barrel compared with Tuesday's close."Brent crude prices have set aside concerns about ...


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