Latest Release

  • “Northern New Energy Holdings Limited” Becomes “Zhonghua Gas Holdings Limited”

    by Oil and gas press -

    Zhonghua Gas Holdings Limited (the “Company”; Stock Code: 8246) announced that the English name of the Company has been changed from “Northern New Energy Holdings Limited” to “Zhonghua Gas Holdings Limited” and the Company has adopted “Zhonghua Gas Holdings Limited” as the new dual foreign name in Chinese of the Company to replace “Northern New […]

  • Aker Solutions Wins Services Contract in Brazil

    by Oil and gas press -

    Petrobras has awarded Aker Solutions a contract to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil. The Campos Basin extends approximately 100,000 square kilometers. The three-year contract is valued at more than BRL 250 million and includes an option for a two-year extension. Aker […]

  • Shell announces methane emissions intensity target for oil and gas assets

    by Oil and gas press -

    Royal Dutch Shell plc (Shell) today announced a target to maintain methane emissions intensity below 0.2% by 2025. This target covers all oil and gas assets for which Shell is the operator. “This methane target complements Shell’s ambition to cut the Net Carbon Footprint of our energy products by around half by 2050, which we […]

  • EIA introduces interactive dashboard detailing natural gas storage activity

    by Oil and gas press -

    The U.S. Energy Information Administration (EIA) released a new interactive Natural Gas Storage Dashboard with daily and weekly information that provides a broader context to the data released in EIA’s Weekly Natural Gas Storage Report (WNGSR). The new dashboard gives users a comprehensive way to identify Lower 48 and regional storage activity and the key […]

  • World’s First 6B Repowering Gas Turbine Solution

    by Oil and gas press -

    GE’s Power Services business (NYSE: GE) is celebrating the 40th anniversary of its 6B gas turbine fleet by launching the world’s first 6B repowering solution. GE also announced it has signed its first agreement for the solution with a global chemical company to repower three 6B gas turbines and save significant amounts of fuel each […]

  • CNRL Announce Completion of the Offer to Acquire Laricina Energy Ltd

    by Oil and gas press -

    Canadian Natural Resources Limited announced that its offer (the “Offer”) to acquire all of the issued and outstanding common shares (the “Laricina Shares”) in the capital of Laricina Energy Ltd. (“Laricina”), as previously described in the Laricina press release dated July 26, 2018, has been accepted by holders of Laricina Shares representing 98.7% of the […]

  • Introducing version 8.8 of geoSCOUT

    by Oil and gas press -

    geoLOGIC systems is proud to announce another successful release of its flagship solution; geoSCOUT version 8.8 with new and innovative features added to enhance the user experience of this product. David Hood, President, geoLOGIC said: “geoSCOUT is a complete solution that helps oil & gas professionals track activity, assess opportunities, optimize wells and manage both […]

  • Saudi Aramco awards contract to China Harbour Engineering Arabia

    by Oil and gas press -

    Saudi Aramco has awarded a contract to China Harbour Engineering Arabia for the construction of two (2) drilling islands under the company’s Berri Increment Program (BIP). The objective of the BIP is to produce an additional 250,000 barrels per day of Arabian Light crude oil from the Berri Oil Field to reach 500,000 barrels per […]

  • Saudi Aramco and Schneider Electric Saudi Arabia sign Memorandum of Understanding

    by Oil and gas press -

    Saudi Aramco and Schneider Electric Saudi Arabia have signed a Memorandum of Understanding (MoU) regarding the Fourth Industrial Revolution. Ahmad A. Al Ghamdi, manager of Saudi Aramco’s Process and Control Systems Department, signed the agreement under the Digital Transformation Program led by Technical Services senior vice president Ahmad A. Al Sa’adi. Najib A. Al-Naim, president […]

  • Neste among the leaders in the Dow Jones Sustainability Indices

    by Oil and gas press -

    Neste has been selected for inclusion in the Dow Jones Sustainability Indices (DJSI) for the 12th consecutive year. The company was included in the DJSI World and DJSI Europe, once again, among the most sustainable companies in the world. Neste’s performance improved from the year before, with the industry’s best scores in climate strategy, environmental […]

  • Eni Announce interim dividend

    by Oil and gas press -

    Eni’s Board of Directors today resolved to distribute to Shareholders an interim dividend for the fiscal year 2018 of € 0.42 per share outstanding at the ex-dividend date as of 24 September 20181, payable on 26 September 2018. The proposal to distribute an interim dividend of € 0.42 was announced to the market on 27 […]

  • Matador Resources Company Announces Acreage Acquisitions

    by Oil and gas press -

    Matador Resources Company (NYSE: MTDR) announced today the successful acquisition of 8,400 gross (8,400 net) acres for approximately $387 million, or a weighted average cost of approximately $46,000 per net acre, in Lea and Eddy Counties, New Mexico in the Bureau of Land Management (“BLM”) New Mexico Oil and Gas Lease Sale on September 5 […]

  • Aker and Partners Take Next Steps in U.S. Offshore Wind Project

    by Oil and gas press -

    Northern California energy authority RCEA and a consortium of private companies, including Aker Solutions and Principle Power, have submitted a lease application to advance the first commercial scale project for floating offshore wind in the United States. The application for the offshore wind energy development off the coast of Humboldt county in Northern California has […]

  • Versalis opens new elastomer plant in Ferrara

    by Oil and gas press -

    Versalis (Eni) has opened a new EPDM rubber production plant in Ferrara today, which will mainly supply the automotive industry. The new facility is an excellent example of reindustrialization of an Italian production plant. Over 250 million euros were invested in the project, which involved constructing a new production line on a land which was […]

  • OMV signs Heads of Agreement with Sapura Energy

    by Oil and gas press -

    OMV has entered into a Heads of Agreement with Sapura Energy Berhad (“Sapura Energy”) to form a strategic partnership. The parties have agreed to continue negotiations on an exclusive basis. OMV intends to acquire a 50% interest in Sapura Energy’s wholly-owned subsidiary, Sapura Upstream Sdn Bhd (“Sapura Upstream”). Sapura Upstream is a major independent oil […]

  • CME Group Announces Special Meeting of Shareholders

    by Oil and gas press -

    CME Group Inc. (NASDAQ: CME) today filed its definitive proxy statement for a special meeting of shareholders to be held at 10:00 a.m. Central Time on Wednesday, November 5, 2018, at CME Group headquarters, located at 20 South Wacker Drive, Chicago, Illinois. The purpose of the meeting is to consider and vote on a proposal […]

  • NESR SIGNS AGREEMENT WITH DTVC TO OPEN RESEARCH CENTER IN SAUDI ARABIA

    by Oil and gas press -

    National Energy Services Reunited Corp. (“NESR”) (NASDAQ: NESR) (NASDAQ: NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) region, through its subsidiary, National Oil Technology Company, signed an agreement with Dhahran Techno Valley Company (“DTVC”), a wholly owned subsidiary of King Fahd University of Petroleum (“KFUPM”). The […]

  • Dana Gas Earns US$74 million (AED 271m) from condensate sales in the KRI in the first 8 months 2018

    by Oil and gas press -

    Dana Gas PJSC (the “Company”), the Middle East’s largest private sector regional natural gas company, announces that during September 2018, Pearl Petroleum Company Limited (“Pearl Petroleum”) has received US$ 21.6 million (AED 79.2m) from the Kurdistan Regional Government (the “KRG”) in respect of condensate sales. Dana Gas is a 35% shareholder in Pearl Petroleum and […]

  • Cairn Half-Yearly Results 2018

    by Oil and gas press -

    Oil sales revenue of US$172 million (m) at an average realised price of US$66.97/barrel (bbl) (US$67.81/bbl before hedging costs) – Simon Thomson, Chief Executive, Cairn Energy PLC said, Cairn has made strong progress across its balanced portfolio. Cash flow from the North Sea is now established and development projects in Senegal and Norway are well […]

  • The Downside For Oil Is Limited

    by Oil and gas press -

    More than two weeks of nearly uninterrupted price gains for crude oil ended this week, with the rally running out of steam. The question is what happens next? Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting […]

  • ABB Boss discusses e-mobility, renewables and energy efficiency with India’s Prime Minister

    by Oil and gas press -

    ABB CEO Ulrich Spiesshofer met India’s Prime Minister, Narendra Modi, in New Delhi during the MOVE Summit on 7th September. Spiesshofer’s talks with the Prime Minister focused on how ABB can support the government’s renewable energy targets, and accelerate public transportation’s transition to electric power. “By embracing e-mobility now, India can leapfrog other nations and […]

  • August 2018 Rig Counts

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for August 2018 was 1,008, up 11 from the 997 counted in July 2018, and up 56 from the 952 counted in August 2017. The international offshore rig count for August 2018 was 212, down 5 from the 217 counted […]

  • Zohr field reaches 2 bcfd production target

    by Oil and gas press -

    Eni announces that Zohr field is now producing 2 bcfd, equivalent to approximately 365,000 boed. This outstanding result has been achieved only a few months after the first gas in December 2017 and one year before the schedule of the Plan of Development (PoD). This level of production was achieved thanks to the start-up of […]

  • Norway’s largest oil pipeline now in place

    by Oil and gas press -

    Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, reached the Johan Sverdrup field in the North Sea. Late last week the last pipe of what is now Norway’s longest and largest oil pipeline was installed right next to the riser platform at the Johan Sverdrup field. The 36-inch pipeline extends 283 km […]

  • SNC-Lavalin awarded West Qurna phase 2 oil field contract in Iraq

    by Oil and gas press -

    SNC-Lavalin (TSX:SNC) announced that it has been awarded a framework agreement for project support services with LUKOIL Mid-East for the West Qurna phase 2 oil field in Iraq. “We continue to build on our long-term relationship with LUKOIL and to help them realize their projects successfully. Once again, we look forward to demonstrating our expertise […]

  • Ecuador Found Liable for Violating International Law

    by Oil and gas press -

    An international tribunal administered by the Permanent Court of Arbitration in The Hague has issued an award in favor of Chevron (NYSE: CVX) and its indirect subsidiary, Texaco Petroleum Company (TexPet), finding that the Republic of Ecuador violated its obligations under international treaties, investment agreements and international law. The tribunal unanimously held that a $9.5 […]

  • Applied Fiber Earns DNV GL Type Approval for Fiber Rope Terminations Offshore

    by Paul Badeau -

    Applied Fiber, a world leader in high performance fiber rope terminations and tension systems has received type approval for fiber rope terminations under DNVGL – ST – 0378 for offshore vessels and platforms certified under DNVGL. Applied Fiber offers a robust rope termination with 100% strength efficiency for lifting appliances and mooring applications. The terminations […]

  • world’s biggest offshore wind farm opens today

    by Oil and gas press -

    The world’s largest operational offshore wind farm, Walney Extension, will be officially opened today at a ceremony in Barrow in the north-west of England. Walney Extension, which is owned by Ørsted and its partners PFA and PKA, is the first project to use wind turbines from two different manufacturers. The 659MW project, owned by Ørsted […]

  • OPEC’s World Oil Outlook to be launched in Algiers

    by Oil and gas press -

    The 2018 OPEC World Oil Outlook (WOO) will be presented at a press conference to be held at the El Aurassi Hotel in Algiers, Algeria, on Sunday, 23 September 2018 at 3:15 pm (Algiers time). The launch will coincide with the 10th Meeting of the Joint Ministerial Monitoring Committee (JMMC) in Algiers, and form part […]

  • Gazprom Neft, Mubadala and the RDIF To Jointy Develop Oil Fields In Western Siberia

    by Oil and gas press -

    Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk Regions of Western Siberia. The Gazpromneft-Vostok joint venture represents Mubadala Petroleum’s first investment in the Russian […]

  • MHI Launches “ENERGY CLOUD Factory”

    by Oil and gas press -

    Mitsubishi Heavy Industries, Ltd. (MHI) has launched “ENERGY CLOUD Factory”, a new service package that utilizes AI and IoT(1) technologies. The cutting-edge energy solution was unveiled today at Mitsubishi Hitachi Power Systems Ltd. (MHPS) Takasago Works in Hyogo Prefecture, Japan, following pre-release usage at the Main Plant of Mitsubishi Heavy Industries Aero Engines, Ltd. in […]

  • NNPC, China Sign Agreement on Oilfield Services

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) in China with the China National Offshore Oil Corporation (CNOOC) towards developing Nigeria’s oilfield services as well as boosting research and development in the oil and gas industry. The MoU signing, the third in the series within the week, by the NNPC […]

  • ExxonMobil Signs Framework Agreement in China

    by Oil and gas press -

    ExxonMobil said today that it has signed a cooperation framework agreement with the Guangdong Provincial People’s Government to advance discussions concerning the proposed construction of a chemical complex in the Huizhou Dayawan Petrochemical Industrial Park. The new facility would help meet expected demand growth for chemical products in China. The multibillion-dollar project, which remains subject […]

  • Hess Announces Quarterly Dividend On Common Stock

    by Oil and gas press -

    The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on September 28, 2018 to holders of record at the close of business on September 17, 2018. Hess Announces Quarterly Cash Dividend on Preferred Stock The Board of […]

  • Pipeline installation of Nord Stream 2 gas begins in Finland

    by Oil and gas press -

    The offshore pipelay vessel Solitaire started today at 13:25 CET the pipelay for the Nord Stream 2 natural gas pipeline in the Gulf of Finland. Before the start of pipelay, the vessel was equipped and tested to meet the project’s strict requirements. Nord Stream 2’s construction plan takes into consideration different construction conditions, in particular […]

  • GlassPoint and Petroleum Development Oman Launch ‘SolaRISE’ Technology Center

    by Oil and gas press -

    GlassPoint Solar, the leading supplier of solar energy to the oil and gas industry, has launched SolaRISE, a new technology center in partnership with Petroleum Development Oman (PDO). SolaRISE, standing for Solar Research, Innovation and Sustainability in Energy, is a joint initiative formed to develop and test next generation solar technologies in the oilfield environment. […]

  • Wood to provide operations services to Hess in the Gulf of Mexico

    by Oil and gas press -

    Hess Corporation has awarded Wood a three year non-exclusive agreement for the provision of operations, maintenance and other support services in the Gulf of Mexico. Hess and Wood have worked together for more than 25 years on a wide range of projects worldwide and the work will be performed under a global enabling agreement, implemented […]

  • Point Resources Extends EPC O&M Contract with Aker Solutions

    by Oil and gas press -

    The Engineering, Procurement and Construction. Operations and Maintenance (EPC O&M) contract between Point Resources and Aker Solutions was first signed in June 2012, covering the Jotun A, Jotun B, Balder and Ringhorne operating facilities in the North Sea. The contract extension starts at year-end and runs until June 2022. “We pride ourselves on delivering top […]

  • Eni prices fixed rate USD-denominated Bonds

    by Oil and gas press -

    Eni successfully returned to the US market and priced today a dual tranche fixed rate bond issue with maturities of 5 and 10 years for a total principal amount of USD 2 billion. The 5 year bond has a principal amount of USD 1 billion, pays a fixed annual coupon of 4.000% and its re-offer […]

  • Total sells its polystyrene business in China

    by Oil and gas press -

    Total has accepted an offer from INEOS Styrolution, the leading global styrenics supplier, to acquire its polystyrene business in China. It includes in particular two facilities with a production capacity of 200,000 tons per year each, located in Ningbo, Zhejiang Province, and in Foshan, Guangdong Province. “The sale is in line with our active portfolio […]

  • Chevron Recommends Stockholders Reject Mini-Tender Offer by TRC Capital Corporation

    by Oil and gas press -

    Chevron Corporation (NYSE: CVX) said today it has been notified of an unsolicited “mini-tender offer” by TRC Capital Corporation to purchase up to 1 million shares of its common stock, representing approximately 0.052% of Chevron’s outstanding shares. TRC Capital’s offer price of $114.00 is 4.21% below the closing price of Chevron’s stock on August 24, […]

  • Saudi Aramco awards upstream development Contract to Baker Hughes

    by Oil and gas press -

    Saudi Aramco has awarded the first large-scope integrated services contract for its Marjan oilfield – the first of three major offshore expansions in Saudi Arabia, and the company’s largest upstream development project this year – to Baker Hughes, a GE company (BHGE). Under the contract’s terms, BHGE will provide drilling services, coiled tubing services and […]

  • NNPC, Chinese Consortia Sign MoUs on Biofuels Production

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) in China with Nigerian-Chinese consortia towards developing sustainable biofuels in the country. In a ceremony held at the Nigerian Embassy in Beijing on the sidelines of the ongoing Forum for China-Africa Cooperation (FOCAC) Summit Tuesday, two separate MoUs on the biofuels project […]

  • Penspen’s Strategic Alliance with Crestech Secures PMC Deal with NNPC

    by Oil and gas press -

    Penspen, a leading global provider of engineering and project management services to the energy industry, and Nigerian engineering firm Crestech, have signed their largest contract to date after forming a strategic alliance in November 2016. The companies have secured a deal with the Nigerian National Petroleum Company (NNPC) for the provision of project management consultancy […]

  • Visund Nord IOR project comes on stream

    by Oil and gas press -

    On 2 September the Visund Nord IOR (improved oil recovery) project came on stream, two months ahead of schedule. The project has further been delivered with no serious HSE incidents and well below budget. “It took 21 months from the licence partners chose the concept until production started. This is a new fast-track record for […]

  • Introducing geoLOGIC basinINTEL, powered by BetaZiTM

    by Oil and gas press -

    geoLOGIC systems ltd., Canada’s leading oil & gas information provider, announced a new joint-initiative with California-based predictive analytics leader BetaZi LLC. geoLOGIC basinINTEL, powered by BetaZiTM, combines geoLOGIC’s premium data with BetaZi’s unique physiostatistical algorithm to deliver accurate, pre-computed probabilistic production forecasts for every well in Western Canada. geoLOGIC basinINTEL, powered by BetaZiTM type curves, […]

  • Transocean to Acquire Ocean Rig for $2.7 billion

    by Oil and gas press -

    Transocean Ltd. (“Transocean” or the “Company”) (NYSE: RIG) and Ocean Rig UDW Inc. (“Ocean Rig”) (NASDAQ: ORIG) announced today that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig’s net debt. The transaction consideration […]

  • CNOC Guarantees Funding for NNPC’s AKK Project

    by Oil and gas press -

    China National Petroleum Corporation (CNPC) has assured the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, of its unflinching commitment towards securing funding for the successful financing and subsequent execution of the Ajaokuta-Kaduna-Kano (AKK) pipeline project. The huge boost for the project was revealed during a high-level meeting between the […]

  • Advanced analytics solution, developed with BHGE, will be installed on BP’s upstream assets

    by Oil and gas press -

    BP announced today that it has successfully deployed Plant Operations Advisor (POA), a cloud-based advanced analytics solution developed with Baker Hughes, a GE company, across all four of its operated production platforms in the deepwater Gulf of Mexico. The announcement comes after an initial deployment of POA proved the technology could help prevent unplanned downtime […]

  • Spirit Energy Farm-in to Greater Warwick Area Licences

    by Oil and gas press -

    Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announced that Spirit Energy Limited (“Spirit Energy”) has farmed-in to 50% of Hurricane’s Lincoln (P.1368 South) and Warwick (P.2294) licences, together covering the Greater Warwick Area (“GWA”) (the “GWA Farm-in”). The GWA Farm-in opens up a […]

  • CGG DEVELOPS ADVANCED IMAGING CENTRE FOR PETRONAS CARIGALI SDN BHD

    by Oil and gas press -

    CGG and PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), have agreed on a collaboration to provide access to CGG’s latest technology and expertise in high-end seismic and multi-physics imaging, and reservoir characterization. CGG received an award of contract from PETRONAS Carigali to develop a Centre for Advanced Imaging […]

  • PDVSA Looks To Reroute Tankers To Alternate Port

    by Oil and gas press -

    PDVSA is looking to shift its oil exports to an alternate port, Reuters sources said on Friday, after Venezuela was forced to close Port Jose last weekend after a minor accident. Shipments that were supposed to leave from Port Jose will now be sent from Puerto La Cruz, if all goes to the stated plan, […]

  • TechnipFMC Total Voting Rights and Share Capital

    by Oil and gas press -

    TechnipFMC plc (the “Company”) (NYSE:FTI) (PARIS:FTI) (ISIN: GB00BDSFG982) announces that, in accordance with Disclosure Guidance and Transparency Rule 5.6, it hereby notifies the market that as of 30 August 2018, the Company’s capital consists of 453,924,627 ordinary shares of USD 1.00 each. The Company does not hold any shares in treasury. Therefore, the total number […]

  • FORECAST: GAS PRODUCTION IN THE MIDDLE EAST

    by Oil and gas press -

    The Middle Eastern gas production is expected to grow from 506 Bcm in 2011 to 712 Bcm in 2021. This regional growth will predominantly be driven by Iran. Despite Trump’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), we see the country adding 109 Bcm to its annual production between 2011 and 2021. Since […]

  • Ninth Discovery Offshore Guyana

    by Oil and gas press -

    ExxonMobil (NYSE:XOM) has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 […]

  • Aker BP and Google

    by Oil and gas press -

    Aker BP and Google demonstrates how digital solutions has started to reconstruct the oil industry. Watch Aker BP’s CEO, Karl Johnny Hersvik on stage with Google’s Darryl Willis, VP Oil, Gas, and Energy, Google Cloud. They are speaking together and demonstrating Cognite’s data platform at ONS2018 in Stavanger Source / Video : Aker BP Oil […]

  • Canadian Natural Announces Acquisition of 100% Working Interest in Oil Sands Project

    by Oil and gas press -

    Canadian Natural Resources Limited announced that it has entered into an agreement to acquire a 100% working interest in the Joslyn oil sands project for a total consideration of $100 million cash on closing and annual cash payments of $25 million over each of the next five years. The Joslyn lease, which is located directly […]

  • MHPS Signs MOU with Dongfang Electric

    by Oil and gas press -

    On August 28, Mitsubishi Hitachi Power Systems, Ltd. (MHPS) signed a memorandum of understanding (MOU) with China’s Dongfang Electric Corporation and Sichuan Provincial Investment Group Co., Ltd. pursuant to plans for a model project adopting the latest J-Series gas turbine at a thermal power plant which Sichuan Provincial Investment Group intends to build in the […]

  • Eni’s long-term credit rating raised to ‘A-’

    by Oil and gas press -

    Standard & Poor’s has raised Eni’s long-term credit rating to ‘A-’ with Stable outlook. Standard & Poor’s also confirmed Eni’s ‘A-2’ short-term credit rating. Rating agency, S&P‘s decision is based on the improvement in Eni’s current and forecasted credit metrics, thanks to the company’s debt reduction and cash flow generation. The Chief Executive Officer of […]

  • Another gas discovery in the Egyptian Western Desert

    by Oil and gas press -

    Eni announces a gas discovery in the Egyptian Western Desert. The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km North-West of the Melehia Concession. The well reached the target depth of 17,000 ft and encountered several gas bearing layers in the Kathabta sandstones of Jurassic […]

  • Wood wins contract in Canada

    by Oil and gas press -

    Wood has been awarded a contract to provide station facility design and construction services to expand Metrolinx’s GO Transit rail service to the Niagara Region. This expansion will reduce congestion and increase travel options for commuters by meeting the growing demand for transportation options to and from Niagara. With Metrolinx planning to increase service to […]

  • Hess Makes Ninth Discovery Offshore Guyana

    by Oil and gas press -

    Hess Corporation (NYSE: HES) announced a ninth oil discovery offshore Guyana at the Hammerhead-1 well, marking its fifth oil discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to […]

  • Eni acquires 124 exploration leases onshore Alaska

    by Oil and gas press -

    Eni announced the acquisition of 124 exploration leases (for a total of approximately 350,000 acres) onshore in the Eastern North Slope of Alaska from Caelus Alaska Exploration Company, LLC. Eni will hold all the leases with a 100% working interest. The “Eastern Exploration Area” (EEA) is located to the South-East of the giant Prudhoe Bay […]

  • GE facilitates €90 million financing for 100MW Ukrainian wind farm

    by Oil and gas press -

    GE Energy Financial Services, a unit of GE (NYSE: GE), announced it facilitated the raising of €90MM in project financing for stage I (100-megawatt) of DTEK Renewables B.V. Primorskaya wind electricity plant (Primorskaya WEP), located on the Sea of Azov shore in Zaporizhia region, South Ukraine. Bayerische Landesbank, a leading German bank based in Munich, […]

  • Gazprom’s gas reserves

    by Oil and gas press -

    Gazprom had the largest amount of explored natural gas reserves in the world, totaling 35.4 trillion cubic meters (А+В1+С1 categories) as of December 31, 2017. Due to the adoption of a new Russian Classification of Reserves and Forecast Resources of Oil and Flammable Gases, Gazprom is currently re-estimating its hydrocarbon reserves and recording them in […]

  • NNPC to Establish 200,000bpd Condensate Refineries

    by Oil and gas press -

    The Nigerian National Petroleum Corporation will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of Delta and Imo State respectively. Natural-gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw […]

  • Single Biggest Breakthrough In Oil Tech This Year ?

    by Oil and gas press -

    Utah holds the largest reserves of oil sands in the United States, but up until now, no company had the technology to exploit these vast resources. Despite the potential, “only a few companies are pursuing the price-sensitive and water-intensive development of the state’s oil shale and oil sand resources,” the EIA said in a 2017 […]

  • Schlumberger Introduces New MEMS Gyro Surveying Service

    by Oil and gas press -

    Schlumberger today introduced the GyroSphere* MEMS gyro-while-drilling service at Offshore Northern Seas (ONS). The GyroSphere service responds to the needs of E&P companies for a faster and more rugged, gyro-surveying while-drilling tool that increases drilling efficiency and reliability while reducing drilling risks. As the first application of microelectromechanical system (MEMS) technology for gyro surveying while […]

  • Brazil becomes a core area for Equinor

    by Oil and gas press -

    With daily oil production of over 90 000 barrels per day from current fields and with expected investments of more than 15 billion USD until 2030, Brazil has become a core area for Equinor. Brazil stands out globally as one of the most promising offshore oil and gas basins with a significant remaining resource base. […]

  • Novara GeoSolutions expands the Regulatory Compliance & Integrity Management Department

    by Victoria Skogman -

    Novara GeoSolutions, an industry leader in providing geospatial software and services for pipeline asset management, announces Edgar Sweet, PE, has rejoined the firm as Associate Vice President and Director of Compliance and Integrity Management. Edgar will help expand, direct and manage the company’s consulting in the areas of regulatory compliance and assurance, asset integrity management, […]

  • BHGE Secures Subsea Services Contract Extension From Equinor

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE) has received a three-year extension to a subsea services frame agreement with Equinor for its operations on the Norwegian Continental Shelf. BHGE will provide support for several installations including Troll, Snorre B and Tordis/Vigdis, with the deal marking more than 40-years of collaboration between the two companies. Services […]

  • Wind farm being considered at Snorre and Gullfaks

    by Oil and gas press -

    Equinor and partners at Gullfaks and Snorre have decided to explore the possibilities of supplying the Gullfaks and Snorre fields with power from floating offshore wind. This could be the first time an offshore wind farm is directly connected to oil and gas platforms. The project forecasts a reduction of CO2 emissions by more than […]

  • TechnipFMC Wins Contract for Vietnam’s Largest Olefins Plant

    by Oil and gas press -

    TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded by Long Son Petrochemicals Co., Ltd. (LSP), a large contract for the licensing, engineering, procurement, construction, commissioning and start-up of Vietnam’s first olefins plant on Long Son Island, Ba Ria-Vung Tau province, Vietnam. Designed as a flexible feed cracker, the olefins plant can utilize both naphtha and LPG feeds […]

  • Total Sells Equity in India’s Hazira Terminal

    by Oil and gas press -

    Total has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India. The transaction remains subject to the approval of regulatory authorities. In parallel, Total has signed an agreement to sell 0.5 million tons of liquefied natural gas (LNG) per […]

  • Lundin completes production test on Norway’s Rolvsnes Oil Discovery

    by Oil and gas press -

    Lundin Petroleum AB (Lundin Petroleum) announced that its subsidiary Lundin Norway AS (Lundin Norway) has successfully completed the appraisal well 16/1-28S and production test on the Rolvsnes discovery in the PL338C on the Utsira High in the Norwegian North Sea. Highlights: • Successfully confirmed good productivity from fractured and weathered basement reservoir – Constrained production […]

  • Wood awarded modifications contracts by Equinor for Norwegian refinery

    by Oil and gas press -

    Wood has secured two new strategic modifications contracts with Equinor for the Mongstad refinery near Bergen, growing its downstream capability in Norway. These contracts continue Wood’s support of the Mongstad refinery which aligns with the company’s focus on expanding its existing footprint in the onshore market in Norway. The scope of the contracts includes front-end […]

  • Mitsubishi Shipbuilding and MHPS Sign Collaboration Framework Agreement with CHI Dalian

    by Oil and gas press -

    Mitsubishi Shipbuilding Co., Ltd. and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) signed a collaboration framework agreement with COSCO Shipping Heavy Industry (Dalian) Co., Ltd. (CHI Dalian) – one of group companies of COSCO Shipping Heavy Industry Co., Ltd. (CHI), a state-owned Chinese shipbuilder based in Shanghai – on manufacturing and marketing rectangular sulfur-oxide (SOx) scrubbers. […]

  • Equinor is Transforming the Norwegian continental shelf

    by Oil and gas press -

    Equinor is today presenting plans for transforming the Norwegian continental shelf (NCS) for continued high value creation and low emissions for the coming decades. Equinor is on track to maintain profitable production from the NCS at current level towards 2030. After 2030 the NCS will enter a more mature phase. It is therefore necessary to […]

  • DEA to invest over two billion Euros in Norwegian oil and gas business

    by Oil and gas press -

    Norway is already the strongest production country in DEA’s global portfolio. Further growth projects are planned to come on stream from 2020 on. Most important project is the development of the own operated Dvalin gas field. DEA aims to double its current production on the Norwegian Continental Shelf (NCS). “As part of our long-term growth […]

  • Wood awarded data build contract by Total Denmark E&P

    by Oil and gas press -

    Wood has secured a new four-year contract with Total Denmark E&P to provide the development and delivery of a significant operations readiness assurance scope for the Tyra redevelopment project, located 225 kilometres west of Esbjerg. Wood will deploy its integrated maintenance database (IMD) to build Total’s SAP maintenance management system. Delivered by Wood specialists based […]

  • Three (3) Rostec Holdings on the List of the World’s Top 50 Defense Companies

    by Oil and gas press -

    Russian Helicopters, Uralvagonzavod and KRET have been included on the list of the world’s leading defense companies of 2017 compiled by the renowned American magazine Defense News. All three of the Rostec companies increased revenue from the sale of military products. Russian Helicopters was put in 36th place with revenue of $2.735 billionin 2017, which […]

  • Improved recovery rate for Johan Castberg field in the Barents Sea

    by Oil and gas press -

    Digital technology developed in Norway will help improve recovery from the Johan Castberg field in the Barents Sea. Equinor has awarded Alcatel Submarine Networks a contract for permanent reservoir monitoring (PRM), which in turn has signed a letter of intent with Nexans Norway AS for delivery of subsea cable. “PRM is a central element of […]

  • A Saudi-Iran Oil War Could Break Up OPEC

    by Oil and gas press -

    When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a […]

  • Irving Oil acquires Top Oil

    by Oil and gas press -

    Canadian-owned Irving Oil has signed agreements to acquire the Tedcastle group of companies, an Irish-based energy marketing and distribution organization, which operates under the brand name Top Oil. Headquartered in Dublin, Top Oil is a leading supplier of home heating oil, including kerosene, as well as petrol and diesel fuel in Ireland. It recently expanded […]

  • Techstars Energy Accelerator partnership

    by Oil and gas press -

    Equinor announced the inaugural class of global start-up companies selected to participate in the Techstars Energy Accelerator. The ten start-up companies have been selected from hundreds of applicants across 38 countries. They will seek to accelerate their development through an intensive 13-week program, tapping into a global network of experts from Equinor and Techstars as […]

  • Wood secures extension to global framework with Shell

    by Oil and gas press -

    Wood has secured a three-year extension to a framework agreement with Shell to continue to deliver completions management, certification software and support to its assets globally. As part of the framework agreement, originally awarded in 2014 and managed from the UK, we will provide our completions management software GoTechnology, currently used by Shell’s major commissioning […]

  • ConocoPhillips Signs $2 Billion Settlement Agreement with PDVSA

    by Oil and gas press -

    ConocoPhillips (NYSE: COP) announced that it has entered into a settlement agreement with Petróleos de Venezuela, S.A. (PDVSA), the Venezuelan state-owned oil company, to recover approximately $2 billion, the full amount awarded to ConocoPhillips by an arbitral tribunal constituted under the rules of the International Chamber of Commerce (ICC), plus interest through the payment period. […]

  • Soma Energy Park Begins Using MHPS-TOMONI

    by Oil and gas press -

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has applied MHPS-TOMONI, its digital solutions service that utilizes leading-edge technologies to optimize thermal power plant operations, at Soma Energy Park, a pulverized coal and biomass co-firing power plant in Soma-shi, Fukushima Prefecture Japan. This application provides advanced operations and maintenance (O&M) for the Soma plant. It also includes […]

  • CME Group to Launch SONIA Interest Rate Futures

    by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, will launch Sterling Overnight Index Average (SONIA) futures on October 1, 2018, pending regulatory review. CME Group will launch two new SONIA futures: a quarterly International Monetary Market (IMM) dated contract observing the recommended specifications of the Working Group on Sterling Risk Free Reference Rates; […]

  • Statement by IMF Deputy Managing Director Tao Zhang on Angola

    by Oil and gas press -

    Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today: “We have received a letter from the Angolan authorities for IMF staff to initiate discussions on an economic program that could be supported by the Extended Fund Facility (EFF).[1] “The request follows an IMF staff mission visit in […]

  • Cancellation of the Renewable Jet Fuel project in Geneva Airport

    by Oil and gas press -

    As announced at the end of 2017, Geneva Airport aspired to replace 1% of the conventional jet fuel used for aircrafts with renewable jet fuel in a pilot project with Neste, the leading renewable fuels company. A case for project facilitation funding was made to the Swiss authorities, which after a long period of consultation, […]

  • Wood awarded contract by Shell’s Upstream unit in the Philippines

    by Oil and gas press -

    Wood has secured a new six-year contract with Shell to provide asset management services to the Malampaya deepwater gas-to-power project in the Philippines. Wood will provide maintenance services, modifications and shutdown support as part of the contract which covers Shell’s onshore facilities in Batangas and offshore assets in the Malampaya field, near Palawan Island. The […]

  • NNPC Boss Meets AKK Pipeline Project Financiers in Dubai

    by Oil and gas press -

    Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru in Dubai, United Arab Emirate directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project’s contractor financing agreement. The Chinese consortium is made up of Bank […]

  • Zion Confirms Active Petroleum System in Megiddo-Jezreel #1 Well In Israel

    by Oil and gas press -

    Zion Oil & Gas, Inc. (NASDAQ: ZN)announces that it is completing the initial testing program of its primary zones located within the Triassic-age Mohilla Formation of the Megiddo-Jezreel #1 (MJ #1) well. Zion’s President and Chief Operations Officer, Dustin Guinn, makes the following statement concerning the MJ #1 well: Zion has a sincere desire to […]

  • Wood reaches agreement to dispose of interest in Italian wind farm

    by Oil and gas press -

    Wood has reached agreement to dispose of its 50% interest in the Voreas S.r.l wind farm joint venture in Italy for a cash consideration of around $27m. Wood’s share in the joint venture generated EBITA of around $3m in the year to 31 December 2017. The disposal is subject to a number of conditions precedent […]

  • Neste, ReNew ELP and Licella to collaborate in utilization of waste plastic as a raw material

    by Oil and gas press -

    Neste, the world’s leading producer of renewable diesel, UK-based chemical recycling company ReNew ELP, and Australian technology developer Licella are joining forces in a development project to explore the potential of using mixed waste plastic as a raw material for fuels, chemicals, and new plastics. In addition to studying liquefied waste plastic feasibility and sustainability […]

  • Africa Oil 2018 Second Quarter Financial and Operating Results

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for the three and six months ended June 30, 2018. As at June 30, 2018, the Company had cash of $369.6 million and working capital of $380.2 million as compared to cash of $392.3 million and working capital of $436.3 million […]

  • Aker Wins Umbilical Systems Order in China

    by Oil and gas press -

    Aker Solutions won orders valued at more than NOK 350 million to deliver power umbilical systems to China National Offshore Oil Corporation’s (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong. The work scope includes more than 35 kilometers of dynamic and static power umbilicals for the Liuhua 16-2, 20-2 and 21-2 […]

  • Iran And Saudi Arabia Reignite The Oil Price War

    by Oil and gas press -

    The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

  • Eni Extends Lease for Key Assets in Egypt Nile Delta

    by Oil and gas press -

    Eni announces that Egyptian Authorities have authorized a new Nile Delta Concession Agreement allowing a ten-year extension of the Abu Madi West Development Lease (203 km2), where the Nooros field is located, and the execution of further exploration activities within El Qar’a Exploration Lease (64 km2). These assets are located in the “Great Nooros Area”, […]

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