Total's CEO Christophe de Margerie dies in Moscow plane crash

Christophe de Margerie, the chief executive officer of Total SA, the French oil company, has been killed in an accident at Moscow's Vnukovo airport, according to official sources.

A representative of the transport investigative committee said the French-made Falcon 50 business jet, headed for France, collided with the snow-removal machine during take-off, TASS news agency reported.

Russian President Vladimir Putin sent his condolences over the incident, calling de Margerie a "true friend of our country".

"In Christophe de Margerie, we lost a real friend of our country, whom we will remember with the greatest warmth."

Will Kuala Lumpur Become the ‘Houston of Asia’?

Helped along by a stable, transparent, pro-business government, Malaysia has been quietly building itself into an oil and gas hub, and the world’s oil and gas companies -- who increasingly see this country as a natural base for their broader Asian operations -- have noticed.

With Singapore now the world’s most expensive city, Jakarta in constant gridlock and Bangkok the center of recurring coup activity, Kuala Lumpur is fast becoming the preferred central location for businesses looking to take advantage of the expected growth in South East Asia.

Oil falls to lowest since 2010 as Opec ups supplies

Brent crude oil fell to its lowest since 2010 on Friday, dropping below US$90 (RM292) a barrel as Saudi Arabia said it upped production last month, increasing speculation of an Opec price war.

Fast-rising oil output in North America and tepid economic growth had raised expectations the Organization of the Petroleum Exporting Countries (Opec) will cut output when it meets in November to stem a near 25 percent price slide since June.

MP: Tun Razak beritahu ada royalti minyak Terengganu

Ahli Parlimen Kuala Terengganu Datuk Raja Kamarul Bahrin Tengku Ahmed Shah mendedahkan beberapa dokumen yang didakwa bukti Terengganu menerima royalti minyak dan bukan Wang Ihsan atau dana persekutuan seperti dinyatakan pemimpin BN.

Beliau membidas kenyataan Kementerian Kewangan 24 September lalu yang menyatakan tiada petroleum diperoleh di negeri Pantai Timur Semenanjung Malaysia – yang tidak lebihi 3 batu nautika pesisir pantai negeri Kelantan, Pahang dan Terengganu – justeru tiada royalti diberikan.

Carimin Petroleum plans Main Market listing

Carimin Petroleum Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its proposed listing on the Main Market of Bursa Malaysia in November 2014.

The company said M&A Securities would assume the role of adviser, underwriter and placement agent for the exercise. In a statement, Carimin said the floatation would comprise the issuance of 60.7 million new shares. — Bernama

Oil drops under US$93 to new 27-month low as supply glut grows

Oil prices hit their lowest level since June 2012 today, dropping below US$93 (RM303) a barrel, as official oil price cuts from top producer Saudi Arabia added to supply glut worries and weak global economic data.

Oil declined together with European stocks ahead of a European Central Bank (ECB) meeting today, as investors are waiting to see if ECB chief Mario Draghi's asset purchase plan can inject confidence into the euro zone economy.

Sharp cuts in official selling prices from state producer Saudi Aramco to Asian customers on Wednesday came as the clearest sign yet that the world's largest exporter is trying to compete for crude market share, amplified supply concerns.

"This is a structural change in the oil market, with Saudi Arabia explicitly stating that they are willing to compete on price," said Bjarne Schieldrop, chief commodities analyst at SEB in Oslo.
"I think Brent will fall below US$88 before we see the bottom of the market."

Brent oil for November delivery lost US$1.30 at US$92.86 a barrel by 0817 GMT (4.17pm, Malaysia time). It went as low as US$92.57 a barrel in early trade, a fresh low from June 2012.

Murphy sold 30% stake in its Malaysian asset to Pertamina

US independent Murphy Oil has sold a 30% stake in its Malaysian oil and gas assets to Indonesia's PT Pertamina for $2 billion cash.

New York-listed Murphy Oil’s chief executive Roger Jenkins said that the farmout showed the value of its “high-margin, long-term assets” in the south-east Asian state.