BEIJING:
China’s implied oil demand rose 3.2 per cent in April from a year earlier, but consumption was the lowest in eight months as refineries scaled back production for maintenance and continued to export surplus refined fuel to trim inventories.

HOUSTON:
US oil and gas company Apache Corp said it plans to sell $4 billion in assets, using proceeds to shore up its balance sheet and share price through debt reduction and a big share buy-back.

The controversy is the latest sign of how energy and infrastructure companies are rushing to adapt to the production boom that no one predicted five years ago. And the eventual result should be a more modern, efficient US fuel network

KANSAS CITY:
A little more light is about to fall on the murky, sometimes messy market for renewable-fuel credits, with the launch of the CME Group’s first futures contracts for the government-mandated credits, known as “Rins.”

RIO DE JANEIRO:
Brazil’s upcoming sale of oil and natural gas rights, the first in five years, will be a test for the country’s government and oil industry as they struggle to realise the potential of giant, new petroleum reserves.

BMT Scientific Marine Services (BMT), a subsidiary of BMT Group, has been granted a patent for its strain measurement system and unique attachment scheme that can be integrated into the insulation layer on ultra-deep water Steel Catenary Risers (SCRs).

LONDON:
The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.

EXOVA, the leading testing and advisory group, has appointed Mike Pooley as its new European managing director to lead its continued market growth.

DUBAI:
Dana Gas made a net profit of Dh241 million ($66 million) in the first quarter of 2013, up 17 per cent from a year ago, the Abu Dhabi-listed energy firm said.