Latest Release

  • Shell Nigeria Gas boosts domestic gas distribution capacity

    by Oil and gas press -

    Shell Nigeria Gas (SNG) Limited has increased its domestic gas distribution capacity by 150% over the last six months. The increase in capacity will enable the company to distribute more than 100 million standard cubic feet of gas per day (MMscf/d) to businesses in its western operations. The new capacity is equivalent to some 400 […]

  • Echo Announce Gas Discovery at ELM-1004

    by Oil and gas press -

    Echo Energy plc, the Latin American focused upstream oil and gas company, announced the successful completion of drilling of the ELM-1004 exploration well at the Company’s Fracción C asset, onshore Argentina and a gas discovery for the first well in its four well exploration campaign. The well has been drilled into the Lower Tobífera formation […]

  • 2018 EIA Energy Conference

    by Oil and gas press -

    The U.S. Energy Information Administration (EIA) will hold its 2018 EIA Energy Conference on June 4 and 5, 2018. The EIA Energy Conference has become a premier forum for addressing energy issues in the United States and around the world. This event will bring together thought leaders from industry, government, and academia to discuss current […]

  • Implico to Attend Asia Fuel Retail Conference 2018

    by Oil and gas press -

    The fuel retail and distribution industry meets from 26 to 27 June in Kuala Lumpur, Malaysia, for the Asia Fuel Retail Conference 2018. This two-day fuel industry event targets the markets of the Asian countries. International software and consulting company Implico will showcase its innovative service station management solutions for the conference participants, particularly its […]

  • NNPC Recommends Split of Petroleum Licences

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has recommended the splitting of petroleum licences into two components for prospecting and production phases under the draft Petroleum Industry Administrative legislation currently before the National Assembly. In a presentation at the Public Hearing organized by the House of Representatives Committee on the Petroleum Industry Administrative Bill (PIAB), Petroleum […]

  • ADNOC and Ravago Group To Explore Collaboration Opportunities

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) announced that it has signed a Memorandum of Understanding (MOU) with Ravago Group (Ravago), a leading service solutions provider in the global polymers and chemicals market, to explore opportunities for cooperation at the Ruwais Industrial Complex in the UAE. As part of ADNOC’s efforts to maximize value across […]

  • CNPC and Chevron signing of the MoU for Chuandongbei project

    by Oil and gas press -

    On May 11, CNPC Chairman Wang Yilin met with a visiting delegation headed by Michael K. Wirth, Chairman and Chief Executive Officer of Chevron Corporation. The two sides exchanged in-depth views on promoting the Chuandongbei natural gas project and strengthening cooperation in the field of international trade. After the meeting, they witnessed the signing of […]

  • Zion Announce Operational Update on Megiddo-Jezreel #1 Well in Israel

    by Oil and gas press -

    Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it expects to commence perforation, stimulation and flow back operations on its Megiddo-Jezreel #1 (MJ #1) well as early as next week in Israel. Zion’s President and Chief Operations Officer, Dustin Guinn, stated, “After extensive well preparation, rig up and endurance testing of our service provider’s […]

  • CNRL Announces Normal Course Issuer Bid

    by Oil and gas press -

    Canadian Natural Resources Limited (“Canadian Natural”) announced today that Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid through the facilities of Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock […]

  • Total withdrawals from South Pars 11 project in Iran

    by Oil and gas press -

    On 4 July 2017, Total, together with the other partner Petrochina, executed the contract related to the South Pars 11 (SP11) project, in full compliance with UN resolutions and US, EU and French legislation applicable at the time. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian […]

  • Premier Oil Announce Trading and Operations Update

    by Oil and gas press -

    Premier today provides the following Trading and Operations Update. This is issued in advance of the Company’s Annual General Meeting which is being held today at 11.00 at 11 Cavendish Square, London. Highlights Catcher production has reached levels in excess of 60 kbopd (gross) in the last few days, resulting in Group production rates of […]

  • Anadarko Declares Dividend

    by Oil and gas press -

    The board of directors of Anadarko Petroleum Corporation (NYSE: APC) today declared a quarterly cash dividend on the company’s common stock of 25 cents per share, payable June 27, 2018, to stockholders of record at the close of business on June 13, 2018. The amount of future dividends for Anadarko common stock will depend on […]

  • Aker Solutions Gets Troll Phase 3 contract

    by Oil and gas press -

    Equinor and the Troll partners exercise an option in relation to Aker Solutions AS for the delivery of a new processing module for the Troll Phase 3 project. The contract value is NOK 1 billion. “Troll has generated great value and substantial spin-offs in Norway. The Troll Phase 3 project involves a highly profitable, carbon-efficient […]

  • Wintershall submits Plan for Development and Operation (PDO) for Nova field

    by Oil and gas press -

    Wintershall has together with its partners Capricorn, Spirit Energy, Edison and DEA submitted the Plan for Development and Operation for its operated North Sea Nova field (formerly Skarfjell) to the Norwegian Ministry of Petroleum and Energy. The milestone comes on the back of the successful development of Wintershall’s Maria field which the company brought into […]

  • Statoil ASA changes name to Equinor ASA

    by Oil and gas press -

    Equinor ASA (OSE: EQNR, NYSE: STO), the new name of Statoil ASA, was approved by the annual general meeting yesterday, 15 May 2018, and the new name has now been registered in the Norwegian register of business enterprises (Foretaksregisteret). The company’s shares will from 16 May 2018 (inclusive) be quoted on Oslo Børs with the […]

  • Aker Solutions Secures Troll Phase 3 Topside Modification Contract

    by Oil and gas press -

    Aker Solutions secured a contract valued at over NOK 1 billion from Equinor to deliver a module for the Troll A platform that will help increase output at one of Norway’s largest natural gas fields. The engineering, procurement, construction and installation (EPCI) contract is the company’s latest award for work at phase 3 of the […]

  • Statoil board approves dividend for fourth quarter 2017 and new company name

    by Oil and gas press -

    On 15 May 2018, the annual general meeting (AGM) of shareholders in Statoil ASA (OSE: STL, NYSE: STO) approved the annual report and accounts for Statoil ASA for 2017, as proposed by the board of directors. The annual accounts and the annual report for Statoil ASA and the Statoil group for 2017 were approved, and […]

  • Agricultural machinery being refueled with natural gas

    by Oil and gas press -

    Gazprom makes extensive efforts to expand the use of natural gas as a vehicle fuel. It is planned to, inter alia, work in concert with domestic agricultural companies to install filling units near agricultural facilities on a cost-sharing basis. The first of such projects is currently underway at the Barsuk T.L. farm, which built a […]

  • Ophir enters into a farm-out agreement with Kosmos Energy

    by Oil and gas press -

    Under the terms of the agreement, Kosmos will acquire a 40% non-operated interest in Block EG-24. In consideration Kosmos will fully carry Ophir for the cost of a block-wide 3D seismic survey, during the 1st exploration period of the licence. Furthermore Kosmos will partially carry Ophir for the cost of a well if the partners […]

  • LUKOIL Signs Development Plan For West Qurna-2 field

    by Oil and gas press -

    LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected in 2025. […]

  • Rosneft Announce Financial results for 1Q 2018

    by Oil and gas press -

    Revenues and equity share in profits of associates and joint ventures 1Q 2018 revenue was up to RUB 1,722 bln (USD 30.9 bln), or by 0.8% QoQ, and by 22.1% to 1Q 2017, on the back of higher crude oil prices and optimization in sales channels despite the remaining constraints in production within the OPEC+ […]

  • Rosneft starts drilling offshore production wells in Vietnam

    by Oil and gas press -

    Rosneft Vietnam B.V. has started drillling of LD-3P (Lan Do field) production well as part of Block 06.1 development. Rosneft acts as an operator of this project which proves high level of its competencies in implementation of complex offshore drilling programs that are technically challenging. Target depth of the well is about 1200 m along […]

  • The Most Underappreciated Story In The Oil Market

    by Oil and gas press -

    The world is currently watching the growing tensions in the Middle East, and oil market analysts are guesstimating just how much Iranian oil supply the renewed U.S. sanctions could stifle. Yet, the biggest story in oil markets this year may well take place far from the much-publicized tensions in the Middle East – namely China’s […]

  • ADNOC and Cepsa Sign Project Development Agreement

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) today announced it has signed a project development agreement with Cepsa of Spain for a new, world-scale Linear Alkylbenzene (LAB) facility in ADNOC’s refining and petrochemicals complex in Ruwais, UAE. The LAB project is one among a number of initiatives to be executed as ADNOC looks to significantly […]

  • BP and Alaska Gasline Development Corporation Sign Binding Gas Sales Precedent Agreement

    by Oil and gas press -

    The Alaska LNG Project reached a historic milestone today as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a Gas Sales Agreement, including price and volume. The terms are captured in a Gas Sales Precedent Agreement signed May 4, 2018. The parties anticipate finalizing a long-term […]

  • CME Group and Crypto Facilities Launch Ether Reference Rate and Ether Real Time Index

    by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, and Crypto Facilities Ltd, a world-leading cryptocurrency trading platform, today launched the CME CF Ether-Dollar Reference Rate (Ether Reference Rate), which will provide a daily benchmark price in U.S. dollars at 4 pm London time, and CME CF Ether-Dollar Real Time Index (Ether Real Time […]

  • Total strengthens its cooperation with Sonatrach

    by Oil and gas press -

    As part of the comprehensive partnership announced in 2017, Total has signed an agreement with Sonatrach to launch the engineering studies for a petrochemical project in Arzew, western Algeria. The project includes a propane dehydrogenation (PDH) unit and a polypropylene production unit with an output capacity of 550,000 tons per year. The project represents an […]

  • ADNOC Announces AED 165 Billion Investment Plan

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) today unveiled plans to invest AED 165 billion (US $45 billion) alongside partners, over the next five years, to become a leading global downstream player, enabling it to further stretch the value of every barrel it produces to the benefit of ADNOC, its partners and the UAE. The […]

  • Total signs MoU with Oman to develop gas resources

    by Oil and gas press -

    Total has signed a Memorandum of Understanding (MoU) with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstream and downstream businesses. Total and Shell as operator will develop several natural gas discoveries located in the Greater Barik area on onshore Block 6 with respective shares of 25% and […]

  • April 2018 Rig Counts

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced that the Baker Hughes international rig count for April 2018 was 978, up 6 from the 972 counted in March 2018, and up 22 from the 956 counted in April 2017. The international offshore rig count for April 2018 was 194 up 6 from the 185 counted in […]

  • Aker BP forms operations alliance

    by Oil and gas press -

    The “Asset Integrity Alliance” consists of Aker BP, KAEFER, Prezioso Linjebygg and FORCE Technology. The alliance agreement was signed in Stavanger on 8 May. The four companies will work together to safeguard the technical integrity of Aker BP’s installations. The Alliance will provide services within integrity management, platform services (ISO) and access technology. “This is […]

  • BP Khazzan wins Project of the Year award

    by Oil and gas press -

    BP Oman’s tight gas project, known as Khazzan, has won a 2018 MEED Projects Award, for ‘Oil & Gas Project of the Year.’ The event celebrated the region’s best projects, with more than 90 shortlisted as finalists or national winners, competing for awards across 16 different categories. Commenting on the award and thanking BP for […]

  • NKT Victoria lays cable supplying Johan Sverdrup with power

    by Oil and gas press -

    The laying of the cable supplying Johan Sverdrup with power from shore started last week. This helps make the North Sea giant one of the oil and gas fields with the lowest CO2 emissions worldwide. On Wednesday last week the cable-laying vessel NKT Victoria began laying the cables that will supply the Johan Sverdrup field […]

  • Statoil ASA to Equinor ASA Name change expected to be adopted tomorrow

    by Oil and gas press -

    On 15 May 2018, the annual general meeting (AGM) in Statoil ASA (OSE: STL, NYSE:STO) will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA. The Company expects to implement the name change from (and including) 16 May 2018. This entails that 15 May 2018 is expected to be […]

  • Petrobras Reports best quarterly result of the last five years

    by Oil and gas press -

    Petrobras reported a net profit of R$ 6.96 billion in the first quarter of 2018, the best quarterly result since the beginning of 2013, when the company had earned R$ 7.69 billion, and ended the quarter with positive results in its safety metric. “We are following exactly what we promised in our business plan announced […]

  • Wood Release Annual General Meeting Statement

    by Oil and gas press -

    Trading performance and outlook We have seen good trading momentum across our business in the first quarter. Performance has been led by Asset Solutions Americas including capital projects activity in power, downstream & chemicals and US shale. For 2018, our overall outlook is unchanged. We expect to deliver revenue and earnings growth and an in-year […]

  • Africa Oil announce 2018 First Quarter Financial and Operating Results

    by Oil and gas press -

    Africa Oil Corp. (AOI–TSX, AOI–Nasdaq-Stockholm) announced its financial and operating results for the three months ended March 31, 2018. As at March 31, 2018, the Company had cash of $378.9 million and working capital of $408.7 million as compared to cash of $392.3 million and working capital of $436.3 million at December 31, 2017. During […]

  • Total to Make Significant Equity Investment in Clean Energy Fuels Corp.

    by Oil and gas press -

    Total SA (CAC: TOTF. PA) and Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced that the two companies have entered into a broad strategic agreement to drive deployment of new natural gas heavy-duty trucks. Total has agreed to purchase up to 50.8 million shares of Clean Energy’s common stock for $83.4 million, to become Clean […]

  • Eni starts up the third production unit

    by Oil and gas press -

    Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 bcfd. Zohr is now producing 1.1 bcfd in ramp-up, equivalent to approximately 200 thousand boed, of which 75,000 boed net to Eni at current working interest. This outstanding result has been achieved only a few […]

  • TechnipFMC Announces First Quarter 2018 Results

    by Oil and gas press -

    TechnipFMC plc (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) reported first quarter 2018 results. Total Company net income was $95.1 million, or $0.20 per diluted share. These results included after-tax charges and credits of $36.4 million, or $0.08 per diluted share as detailed in the financial schedules. Adjusted diluted earnings per share were $0.28. Total Company revenue […]

  • US Fire Dept. Opts For Neste MY Renewable Diesel

    by Oil and gas press -

    The Pasadena Fire Department, a California city northeast of Los Angeles, has switched much of its fleet of apparatus from operating on petroleum diesel to using Neste MY Renewable Diesel™. The department plans to transition all its fleet apparatus to renewable diesel by 2019. Neste MY Renewable Diesel is a low-carbon diesel produced from 100 […]

  • IMF Staff Concludes Visit to The Gambia

    by Oil and gas press -

    An International Monetary Fund (IMF) staff team, led by Jaroslaw Wieczorek, visited Banjul from May 3–9, 2018. The team assessed implementation of The Gambia’s Staff-Monitored Program (SMP)[1] with the International Monetary Fund (IMF) from end-September 2017 to end-March 2018. Forward-looking discussions focused on economic and financial policy commitments for the remainder of the SMP, which […]

  • Wood wins contract to expand Tasiast gold mine in Mauritania

    by Oil and gas press -

    Wood is providing engineering, procurement and construction management services to Kinross Gold Corporation (Kinross Gold) for the Phase Two expansion of the Tasiast gold mine in Mauritania. The award follows Wood’s early involvement in the project executing the feasibility study for the Phase Two expansion and reinforces the company’s longstanding global leadership in the development […]

  • TBBM Plumpang Sabet Holds the World’s Best TBBM

    by Oil and gas press -

    Petroleum Fuel Terminal (TBBM) Plumpang owned by PT Pertamina (Persero) has gained world recognition as one of the most efficient fuel storage tanks in the world. At the 2nd Global Tank Storage Award 2018 award, Plumpang was named the 2nd Best, after Saudi Aramco Terminals in the category of The Most Efficient Storage Terminal. The […]

  • Noble Energy Announces First Quarter 2018 Results

    by Oil and gas press -

    Noble Energy, Inc. (NYSE:NBL) (“Noble Energy” or the “Company”) announced first quarter 2018 financial and operating results. Highlights include: Delivered quarterly sales volumes of 361 MBoe/d(1) up 18 percent(2) from first quarter 2017 on organic capital expenditures of $781 million. Increased U.S. onshore oil production over 30 percent(2) compared to the first quarter of 2017 […]

  • Africa Oil Corp. Acquires Shares of Africa Energy Corp.

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) announced that it had acquired 144,956,250 common shares of Africa Energy Corp. (“Africa Energy” or the “Company”) (TSXV:AFE or Nasdaq First North: AEC) for CAD$0.16 per common share (USD$0.1242 per common share). Immediately prior to the acquisition, Africa Oil held a total of 91,096,164 common shares […]

  • Anadarko Announces 2018 First-Quarter Results

    by Oil and gas press -

    Anadarko Petroleum Corporation (NYSE: APC) announced 2018 first‑quarter results, reporting net income attributable to common stockholders of $121 million, or $0.22 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by $158 million, or $0.30 per share (diluted), on an […]

  • Sembcorp Marine’s Floating Storage and Offloading vessel with a 40-year hull lifespan

    by Oil and gas press -

    FSO Ailsa, the world’s first Floating Storage and Offloading (FSO) vessel with a 40-year hull lifespan, will set sail next month for the Culzean gas field in the UK North Sea. Newly completed at the Sembcorp Marine Tuas Boulevard Yard for MODEC, a leading specialist of offshore oil and gas floating production systems, and with […]

  • BP delivers strong 1Q profit

    by Oil and gas press -

    Underlying replacement cost profit* for the first quarter of 2018 was $2.6 billion, compared with $1.5 billion for the same period in 2017, a rise of 71%. Operating cash flow excluding Gulf of Mexico oil spill payments* in the quarter was $5.4 billion including a $1.8 billion negative impact from an increase in working capital […]

  • Statoil award contract in excess of one billion NOK for IMR services

    by Oil and gas press -

    Statoil is awarding Subsea 7 Norway AS a five-year contract for IMR services to be carried out by the Seven Viking vessel for subsea operations on the Norwegian continental shelf (NCS). Subsea 7 will provide inspection, maintenance and repair (IMR) services for Statoil’s 560 subsea wells on the NCS. The service includes onshore project planning […]

  • Total Sells Its Retail Business in Haiti

    by Oil and gas press -

    Total has signed an agreement to sell its retail business in Haiti, which consists of a network of 92 service stations and general trade fuel sales operations. This agreement has been finalized with Bandari Corporation Ltd., a consortium formed by several local and regional major players. “This transaction with local operators is aligned with our […]

  • Eni completes the ramp-up of Ochigufu field, offshore Angola

    by Oil and gas press -

    Eni has completed the ramp-up of the Ochigufu field, in Angola’s deep offshore, reaching the production plateau of 24,000 barrels/day (b/d) less than 2 months from start-up. This result allows the operated production from block 15/06 to be stable above 150,000 b/d, and is in line with the goal of adding 54,000 b/d to the […]

  • Abdullah Bin Hamad Al Attiyah Energy Award for Lifetime Achievement for the Advancement of OPEC

    by Oil and gas press -

    OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, was presented with the Abdullah Bin Hamad Al Attiyah Energy Award for Lifetime Achievement for the Advancement of OPEC, at a ceremony in Doha, Qatar. The Award was a recognition of the pivotal role the Secretary General played in the adoption of the ‘Declaration of Cooperation,’ which […]

  • NNPC Commits on 2019 Fuel Importation Deadline

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has expressed commitment to actualize the December 2019 target set by the federal government to end the importation of petroleum products into the country. Speaking as the Special Guest of Honour at the Offshore Technology Conference 2018 Nigeria Oil Industry Award Dinner in Houston, Texas, United States, Group Managing […]

  • Shell sells its interest in Canadian Natural Resources

    by Oil and gas press -

    Royal Dutch Shell plc (“Shell”) announces an agreement to sell its entire stake in Canadian Natural Resources Limited (“Canadian Natural”) Shell’s subsidiary, Shell Gas B.V. (“SGBV”), has entered into an underwriting agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of 97,560,975 shares in Canadian Natural, representing its […]

  • Oil discovery in the Faghur Basin in Egyptian Western Desert

    by Oil and gas press -

    Eni announces an oil discovery on the A-2X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 103 Km North of the oasis of Siwa. The well is the first one drilled by Eni to explore the deep geological sequences of the Faghur Basin. The exploratory well, named SWM A-2X, […]

  • W&T Offshore and BHGE Announce Strategic Agreement

    by Oil and gas press -

    At Offshore Technology Conference (OTC) , W&T Offshore Inc. (NYSE: WTI) and Baker Hughes, a GE company (NYSE: BHGE) announced a strategic partnership related to W&T’s joint exploration and development program, which includes 14 drilling projects, most of which are operated by W&T in the Gulf of Mexico. The project utilizes a commercial model that […]

  • Chrysaor & BHGE announce multi‐well development drilling campaign partnership

    by Oil and gas press -

    Chrysaor, the UK oil & gas independent, announced the start of a new drilling campaign in its UK portfolio and a new Service Partnership Contract with Baker Hughes, a GE company (NYSE: BHGE). The contract, expected to run for approximately three years, covers the drilling, completion and subsea tie‐in of development wells on Chrysaor’s operated […]

  • McDermott to Self-Perform Diving Scope for SAPREF Refinery in South Africa

    by Oil and gas press -

    McDermott International, Inc. (NYSE:MDR) announced it will self-perform air and saturation diving on two key projects in the Americas, Europe and Africa region, which builds off McDermott’s vertically integrated model of project execution. McDermott was awarded a sizeable* contract to remove and replace a single 24 inch (61 centimeters) subsea hose string to a single […]

  • SABIC and ExxonMobil Advance Announce New Joint Venture

    by Oil and gas press -

    SABIC and ExxonMobil Announced that they have created a new joint venture to advance development of the Gulf Coast Growth Ventures project, a 1.8 million tonne ethane cracker currently planned for construction in San Patricio County, Texas. The facility will also include a monoethylene glycol unit and two polyethylene units. “We are very pleased to […]

  • DNV GL’s new recommended practice for wellhead fatigue analysis

    by Oil and gas press -

    The recommended practice (RP) ‘DNVGL-RP-E104 Wellhead fatigue analysis’ has now been published. This publication is the result of a phase 2 joint industry project (JIP) involving 16 oil companies and supersedes the April 2015 edition of DNVGL-RP-0142. The content of the updated RP provides specific recommendations on how to perform wellhead fatigue analysis in a […]

  • Nigeria Eyes Total Flare Out in Two Years

    by Oil and gas press -

    As NNPC Announces Policies to End Gas Flare The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, announced a three-point smart strategy aimed at ending gas flaring in the nation’s Oil and Gas Industry. He made the announcement while delivering the lead paper on a panel session at the ongoing […]

  • HPC4 supercomputer achieves breakthrough in oil & gas reservoir numerical modeling

    by Oil and gas press -

    Eni’s industry-leading HPC4 supercomputer, recently deployed in Eni’s Green Data Center facility, performed a breakthrough calculation, opening the path to a new era for reservoir engineering numerical modeling. HPC4 executed 100,000 high-resolution reservoir model simulation runs, taking into account geological uncertainties, in a record time of 15 hours. In comparison, most reservoir engineers in the […]

  • Eni awarded Exploration Block in the Kutei Basin Indonesia

    by Oil and gas press -

    Eni has been awarded 100% participating interest in the East Ganal deepwater exploration block in the Kutei Basin, in Indonesia. East Ganal is a new “gross split” PSC (Production Sharing Contract) covering an area of about 5,100 square kilometers and adjoins the Eni operated Muara Bakau and East Sepinggan PSCs, in the Makassar Strait offshore […]

  • CNOOC and Shell joint venture starts production

    by Oil and gas press -

    China National Offshore Oil Corporation (CNOOC) and Shell Nanhai B.V. (Shell) today announce the official start-up of the second ethylene cracker at their Nanhai petrochemicals complex in Huizhou, Guangdong Province, China. Several linked derivative units have also started up and the remaining units will start up progressively over the next few weeks. These new units […]

  • CNOOC Announces Changes in Directors

    by Oil and gas press -

    CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced changes in directors of the Company. Mr. Wang Dongjin has been appointed as a Non-executive Director and a member of the Remuneration Committee of the Company. Mr. Wu Guangqi has resigned as a Non-executive Director and a member of the Remuneration Committee of the […]

  • KBR to Develop World’s Largest Fully Integrated Crude Oil to Chemicals Project in Saudi Arabia

    by Oil and gas press -

    KBR, Inc. (NYSE: KBR) announced that it has been awarded a contract by Saudi Arabian Oil Company (Saudi Aramco) and SABIC as the second Project Management Contractor (PMC) to provide Pre-Front End Engineering Design (Pre-FEED), Front End Engineering Design (FEED) and Program Management Services to develop the world’s largest fully integrated Crude Oil to Chemicals […]

  • Transocean Reports First Quarter 2018 Results

    by Oil and gas press -

    Transocean Ltd. (NYSE:RIG) reported net loss attributable to controlling interest of $210 million, $0.48 per diluted share, for the three months ended March 31, 2018. First quarter 2018 results included favorable items, as follows: $6 million, $0.02 per diluted share, gain on disposal of assets; and $1 million in discrete tax benefits. These favorable items […]

  • Saudi Aramco Appoints 5 New Board Of Directors

    by Oil and gas press -

    H.E. Khalid A. Al Falih, Chairman of the Board of Directors of Saudi Aramco, has announced the appointment of five new members to the Saudi Aramco Board of Directors. The five new appointed members are: H.E. Mohammed A. Al-Jadaan, Minister of Finance. H.E. Mohammed M. Al-Tuwaijri, Minister of Economy and Planning. Mr. Peter L. Cella, […]

  • Cuadrilla Generates Nearly £9M Into Lancashire’s Economy

    by Oil and gas press -

    Cuadrilla has today (30 April) issued its latest “Putting Lancashire First” commitments tracker to include figures up to 31st March 2018. The latest report reveals that during the first quarter of 2018 spend in the Lancashire economy by Cuadrilla and its suppliers now stands at some £8.6 million. During the first three months of this […]

  • TurkStream Line 1 Completed – Gazprom

    by Oil and gas press -

    Gazprom today at the Black Sea coast of Turkey, announced the deep-water pipelay for Line 1 of the TurkStream offshore gas pipeline has been completed. The average rate of the deep-water pipelay carried out by the pipelaying vessel Pioneering Spirit was 4.3 km/day. The maximum pipelaying rate – 5.6 km/day – was reached twice in […]

  • Oando PLC Announces First Quarter, 2018 Results

    by Oil and gas press -

    Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced audited results for the three months period ended March 31, 2017. Financial Highlights: Turnover increased by 9%, N150.5 billion compared to N138.4 billion (Q1 2017) Gross Profit increased by 108%, […]

  • MISC BERHAD Announce Delivery Of New Liquefied Natural Gas (“LNG”) Carrier

    by Oil and gas press -

    MISC BERHAD (“MISC” Or “The Company”) – Delivery Of New Liquefied Natural Gas (“LNG”) Carrier Known As Seri Cemara And Incorporation Of New Subsidiary We refer to our announcement of 23 February 2015 relating to the novation agreement between Petroliam Nasional Berhad (“PETRONAS”), Hyundai Heavy Industries Co. Ltd (“HHI”) and the Company, for the novation […]

  • Chariot Update on Rabat Deep 1 Well Result, Morocco.

    by Oil and gas press -

    Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, announces the result of the well on the Rabat Deep Permits in Morocco (Eni Maroc B.V. 40% (operator), Woodside Energy (Morocco) Pty Ltd 25%, ONHYM 25%, Chariot Oil & Gas Investments (Morocco) Limited 10%). Chariot was fully carried for […]

  • Qatar Petroleum to supply Vietnam with LPG and Naphtha

    by Oil and gas press -

    Qatar Petroleum has announced an agreement to supply Vietnam with up to 2 million tons per year of LPG and Naphtha for a period of 15 years. The long-term agreement was signed by Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (“QPSPP”) and Long Son Petrochemicals Company Limited (“LSP”), a subsidiary of The […]

  • Marathon and Andeavor Merge

    by Oil and gas press -

    Marathon Petroleum Corp. (NYSE: MPC) and Andeavor (NYSE: ANDV) today announced that they have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 billion and total enterprise value of $35.6 billion, based on MPC’s April 27, 2018, closing price of $81.43. […]

  • ExxonMobil PNG resumes normal LNG production rates

    by Oil and gas press -

    ExxonMobil PNG Limited, operator of PNG LNG, has restarted its second liquefied natural gas (LNG) train. The plant is now operating at normal production rates, and exports of LNG have resumed. Production has been gradually increasing since the Hides gas conditioning plant and one train at the PNG LNG plant restarted earlier in the month. […]

  • ExxonMobil Earnings Increase 16 Percent to $4.7 Billion in First Quarter 2018

    by Oil and gas press -

    Exxon Mobil Corporation announced estimated first quarter 2018 earnings of $4.7 billion, or $1.09 per share assuming dilution, compared with $4 billion a year earlier. Cash flow from operations and asset sales was $10 billion, including proceeds associated with asset sales of $1.4 billion. During the quarter, the corporation distributed $3.3 billion in dividends to […]

  • Eni Announce first quarter 2018 results

    by Oil and gas press -

    Eni’s Board of Directors approved the Group results for the first quarter of 2018 (unaudited). Commenting on the results, Highlights Exploration & Production Strong growth reported in hydrocarbon production: up by 4% q-o-q at 1.87 million boe/d, in line with the FY 2018 guidance. Net of price effects in PSAs, the growth rate was 4.4%; […]

  • OMV and ADNOC sign a new offshore concession agreement

    by Oil and gas press -

    His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Excellency Sebastian Kurz, Austrian Federal Chancellor witnessed the signing of the agreement, done by His Excellency Dr. Sultan Ahmed Al Jaber, ADNOC Group CEO, and Dr. Rainer Seele, Chairman of the […]

  • Norway’s largest pipeline installtion Started

    by Oil and gas press -

    The operations to install Norway’s largest pipeline to the Johan Sverdrup field started outside Mongstad, north of Bergen, late last week onboard the vessel Saipem Castorone. Soon the tip of the first pipe of what will become Norway’s longest and largest oil pipeline will be pulled into the Mongstad terminal, north of Bergen. The 36” […]

  • Statoil sells non-core asset on UK Continental Shelf

    by Oil and gas press -

    Statoil has agreed to sell its 17% non-operated interest in the Alba oil field on the UK Continental Shelf (UKCS) to Verus Petroleum. Alba is an oil field in the UK Central North Sea that Statoil entered in 1995 and which is operated by Chevron. To date, it has produced around 420 million barrels of […]

  • NNPC Strives for Greater Efficiency in Operations of Retail Outlets

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) said its downstream retail subsidiary, NNPC Retail Limited, was activating fresh measures to optimize operational efficiency in the delivery of petroleum and allied products to customers across the country. The corporation stated that the measures would entail closer scrutiny and supervision of the operations of NNPC mega and affiliate […]

  • DNO Expands Kurdistan Operations

    by Oil and gas press -

    DNO ASA, the Norwegian oil and gas operator, announced expansion and acceleration of operations in the Kurdistan region of Iraq while building up its North Sea exposure. First quarter revenues, the highest in nearly four years, stood at USD 142 million and net profit at USD 18 million. The Company exited the quarter with cash […]

  • Chevron Announces Quarterly Dividend

    by Oil and gas press -

    The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and twelve cents ($1.12) per share, payable June 11, 2018, to all holders of common stock as shown on the transfer records of the Corporation at the close of business May 18, 2018.

  • NOC Chairman launches major anti fuel smuggling initiative

    by Oil and gas press -

    Engineer Mustafa Sanalla, Chairman of Libya’s National Oil Corporation, used a keynote speech to the global oil industry to demand a series of measures be taken to save the industry and his country from the significant economic and societal damage wreaked by endemic fuel smuggling. To an audience of industry experts at the inaugural Oil […]

  • Bhge awarded contract by statoil to provide turbo equipment

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE) has been awarded by Statoil Petroleum AS and Aker Solutions a contract to provide turbomachinery equipment for the topside structure for the floating production, storage and offloading vessel (FPSO) to be located at the Johan Castberg field in the Barents Sea. Under the deal, which is part of […]

  • Total to Develop AI Solutions with Google Cloud

    by Oil and gas press -

    Total and Google Cloud have signed an agreement to jointly develop Artificial Intelligence (A.I.) solutions applied to subsurface data analysis for oil and gas exploration and production. The agreement focuses on the development of A.I. programs that will make it possible to interpret subsurface images, notably from seismic studies (using Computer Vision technology) and automate […]

  • Start of the binding phase for Piranema and Piranema Sul fields

    by Oil and gas press -

    Petrobras, further to the Material Fact disclosed on 03/09/2018, informs the start of the binding phase regarding the sale of its entire stake in Piranema and Piranema Sul fields. At this stage of the project, the invitation letters are issued to potential buyers qualified in the previous phase, with the instructions about the divestment process, […]

  • Eni will invest €7 billion in Italy over the next four years

    by Oil and gas press -

    Eni CEO Claudio Descalzi presented the company’s Strategic Plan for the four-year period 2018-2021 to the Italian financial community, also providing an update on the company’s results regarding safety, its green activities in Italy and ongoing progress in research and development. Claudio Descalzi started by addressing the issue of safety across the company’s activities, as […]

  • Norco launch own range of Secure Power equipment

    by Roy Kemp -

    Norco Group Ltd, specialist service providers on power electronics and stand-by battery equipment, have announced the release of their own range of products. With all manufacturing carried out at their Aberdeen, UK headquarters, Norco are entering the OEM market with a Central Battery System, a Battery Monitor, and industrial-spec Battery Chargers and Uninterruptible Power Supplies […]

  • Shell to sell its Downstream business in Argentina to Raízen

    by Oil and gas press -

    Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and […]

  • Savannah makes oil discovery in onshore Niger

    by Oil and gas press -

    Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, announced the result of the Bushiya-1 exploration well as an oil discovery. Bushiya-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin(“ARB”), south east Niger. Well Result Preliminary […]

  • Saipem Announce results for the first quarter of 2018

    by Oil and gas press -

    The Board of Directors of Saipem S.p.A., chaired by Paolo Andrea Colombo, yesterday approved the Saipem Group’s Interim Report at March 31, 2018 (not subject to audit). Highlights  Operational performance in line with expectations  Strong reduction in net financial debt  Strengthening of the E&C Offshore fleet Results for the first quarter of […]

  • Saipem awarded new contracts worth approximately 190 million USD in total

    by Oil and gas press -

    Saipem has been awarded new contracts in Offshore Drilling involving the sixth-generation semi-submersible rig Scarabeo 8, suitable for harsh environments. Drilling activities will take place offshore Norway, and will last approximately 10 months, excluding options. The first contract refers to the award by A/S Norske Shell of an optional well in relation to the contract […]

  • San Leon now in a strong financial position

    by Oil and gas press -

    San Leon, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, received an indicative proposal from Midwestern Oil and Gas (“Midwestern”) on 11 September 2017 for San Leon to acquire Midwestern’s shares in Midwestern Leon Petroleum Limited (“MLPL”). Such an acquisition could have constituted a reverse takeover under […]

  • Subsea 7 confirms USD 7.00 per share proposal to acquire McDermott

    by Oil and gas press -

    Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) confirms that it made a proposal(1) to the Board of Directors of McDermott International, Inc. (“McDermott,” NYSE: MDR) on April 17, 2018 to acquire the entire issued share capital of McDermott. Subsea 7 proposed to acquire McDermott common stock for USD 7.00 per share, payable entirely in […]

  • Oceanteam Solutions extends cable storage contract

    by Oil and gas press -

    In 2017, Oceanteam Solutions was awarded a long-term contract to supply its client with port facilities, loadouts and storage of cables at Oceanteam’s own cable storage facility in Velsen Noord, The Netherlands. The 4-months extension follows a smooth cable transpooling from the client’s cable lay vessel to Oceanteam’s own cable storage carousels and a successful […]

  • Golar LNG Updates on Phase 1A of the Greater Tortue / Ahmeyim Project, West Africa

    by Oil and gas press -

    Golar LNG Limited (“Golar”) announced that it has entered into a Preliminary Agreement and exchanged Heads of Terms (“HoT”) for a Charter Agreement with BP Mauritania Investments Ltd and BP Senegal Investments Ltd, (together “BP”) in their capacity as block operators. The HoT represents a commitment between the Parties to translate the key commercial terms […]

  • Cisco , Roue and Wood,open oil and gas center in Mexico

    by Oil and gas press -

    Wood, a global leader in the delivery of project, engineering and technical services to energy and industrial markets, Cisco and Roue Consultores have participated in the opening of a new, first of its kind, Oil and Gas Advanced Technology Center (ATC) located in Wood’s operations center in Naucalpan, Estado de Mexico. The Oil and Gas […]

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