Latest Release

  • Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

    by Oil and gas press -

    Energy Transfer LP (NYSE: ET) (“ET” or “Energy Transfer”) today announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) (“SemGroup”) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based […]

  • Qingdao McDermott Wuchuan Awarded Module Fabrication Contract

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a large* contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia. “This award recognizes QMW’s experience and excellent performance in […]

  • Eni starts production of Baltim South West field offshore Egypt

    by Oil and gas press -

    Eni announces the successful commissioning and start-up of production of the offshore Baltim South West gas field in Egypt. Discovered by Eni in June 2016, the field goes on-stream in a record time, just 19 months after the final investment decision (FID) was approved in January 2018. This result further confirms the success of 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 13th 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 received the industry’s best scores in materiality, human capital development, and water-related risks, contributing […]

  • Vallourec has been awarded a USD 900 million contract with ADNOC

    by Oil and gas press -

    Vallourec has been awarded a contract by Abu Dhabi National Oil Company for the supply of tubing and casing, over a five year period, with a possible 2-year extension, for an amount of USD 900 million. ​It covers a full range of products, from standard API to high end premium OCTG for both onshore and […]

  • Utgard field on stream

    by Oil and gas press -

    On 16 September, Equinor and its partners started production from the Utgard gas and condensate field, spanning the Norwegian-UK border in the North Sea. The project is delivered without any personal injuries, ahead of schedule and 25% below the cost estimate. Recoverable Utgard resources are estimated at around 40 million barrels of oil equivalent (boe) […]

  • Gas discovery in the Norwegian Sea

    by Oil and gas press -

    Equinor and its partners AkerBP and Wellesley Petroleum have found gas in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea. Recoverable resources are estimated at 8–14 million standard cubic metres of oil equivalent, corresponding to 50–88 million barrels of oil equivalent (boe). “This is good news. The Ørn discovery proves […]

  • Hanwha Total Petrochemical Increases Ethylene Production Capacity by 30%

    by Oil and gas press -

    The Daesan integrated refining and petrochemicals complex in South Korea, owned by Hanwha Total Petrochemical , has started its new ethylene production capacities. With a $450 million investment, the site can now produce 1.4 million tons per year of ethylene, an increase of 30%. This project was launched in April 2017 and is the first […]

  • OIL PRICE SPIKE AFTER SAUDI ATTACK LIKELY SHORT-LIVED

    by Oil and gas press -

    In an update to clients after the biggest attack on oil infrastructure since the Gulf War, Bjørnar Tonhaugen, head of oil market research at Rystad Energy, made the following remarks: “The bullish reaction in oil prices will likely be limited by Saudi Arabia’s vast quantities of crude in storage, estimated to equal roughly 26 days […]

  • Pemex to repay and refinance debt

    by Oil and gas press -

    Pemex announced a series of measures intended to improve its financial condition. This operation considers a capital contribution from the Federal Government equivalent to 5 billion US dollars to be used for the prepayment of debt. In line with the strategy of strengthening the company’s finances under a zero net indebtedness premise in real terms, […]

  • ExxonMobil announces oil discovery offshore Guyana

    by Oil and gas press -

    ExxonMobil said today it made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block. Tripletail-1 encountered approximately 108 feet (33 meters) of a high-quality oil bearing […]

  • IEA statement on situation in Saudi Arabia

    by Oil and gas press -

    The IEA is monitoring the situation in Saudi Arabia closely. We are in contact with the Saudi authorities as well as major producer and consumer nations. For now, markets are well supplied with ample commercial stocks.

  • Another Oil Discovery Offshore Guyana at Tripletail

    by Oil and gas press -

    Hess Corporation (NYSE: HES) today announced a discovery at the Tripletail-1 well on the Stabroek Block offshore Guyana. Tripletail-1 encountered approximately 108 feet (33 meters) of a high quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet (2,003 meters) of water, is located approximately 3 miles (5 kilometers) northeast of the Longtail discovery. After […]

  • Total and Envision in JV to capture the distributed solar energy market in China

    by Oil and gas press -

    TEESS, a 50/50 joint venture company, established by Total, and Envision Group, a global leading smart energy technology company, launches its commercial activity to develop on site distributed generation solar projects for B2B customers in China. TEESS will offer its clients a unique combination of distributed solar energy systems and digital solar energy solutions running […]

  • LNGL, DELTA OFFSHORE ENERGY AGREE ON SUPPLY DEAL TO VIETNAM

    by Oil and gas press -

    Delta Offshore Energy (DeltaOE) and Liquefied Natural Gas Limited (ASX:LNG) jointly announce an alliance with the Bac Lieu Provincial Government in Vietnam to deliver an LNG-to-power project for the province. The DeltaOE led power project includes the construction and operation of an LNG import terminal, 3,200-megawatt combined-cycle power plant and delivery of power generation to […]

  • President of the DRC meets Eni CEO

    by Oil and gas press -

    The President of the Democratic Republic of Congo, Félix Tshisekedi, met Eni’s Chief Executive Officer Claudio Descalzi in Kinshasa. During the meeting the parties discussed the possibility of developing initiatives aimed at the conservation of large areas of primary forest, in accordance with the United Nations REDD + protocol, in order to preserve and protect […]

  • Kvaerner aims to diversify into new business areas

    by Oil and gas press -

    Kvaerner establishes two new focus areas to grow its operations within both oil and gas projects and in renewable industries. With the new focus areas, the group is aiming for around 40 per cent growth within a few years, compared to revenues in 2018. The company will continue to be a main contractor that creates […]

  • Africa Oil Announces Second Oil Discovery Offshore Guyana

    by Oil and gas press -

    Africa Oil Corp. announced a second large oil discovery on the Orinduik block in the Joe-1 exploration well resulting in the opening of a new Upper Tertiary oil play in the Guyana basin. The Joe-1 exploration well was drilled by the Stena Forth drillship to a total depth of 2,175 metres in water depth of […]

  • Tullow Announce Joe-1 oil discovery

    by Oil and gas press -

    Tullow Oil plc (Tullow) announces that the Joe-1 exploration well has successfully opened a new Upper Tertiary oil play in the Guyana basin. The Joe-1 exploration well was drilled by the Stena Forth drillship to a Total Depth of 2,175 metres in water depth of 780 metres. Evaluation of logging and sampling data has confirmed […]

  • Houthi drone attacks on 2 Saudi Aramco oil facilities

    by Oil and gas press -

    Incidents at Abqaiq and Khurais Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles. These attacks resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H. Nasser, Saudi Aramco President & CEO, said: […]

  • Nigeria LNG Seeks $10B Funding To Expand

    by Oil and gas press -

    The operator of Africa’s biggest natural gas plant, Nigeria LNG, is seeking a loan of US$10 billion from domestic and international lenders to expand its operations with a seventh train, the company’s chief executive Tony Attah told Bloomberg in an interview. Nigeria LNG signed earlier this week a letter of intent (LOI) for the Train 7 engineering, procurement and […]

  • Equinor Responds to Fire on board tanker

    by Oil and gas press -

    At 1102 hours local time, Equinor’s emergency response centre received reports of a fire in the engine room of the tanker “Dubai Harmony”. The ship is moored at the quayside at the Sture terminal in Øygarden municipality in Hordaland. The public emergency rescue service and authorities have been notified of the situation, and Equinor’s emergency […]

  • Weakening Shale Productivity “VERY Bullish” For Oil Prices

    by Oil and gas press -

    After years of improvements in drilling techniques and impressive “efficiency gains,” there is now evidence that the U.S. shale industry is reaching the end of the road on well productivity. A report earlier this month from Raymond James & Associates finds that the U.S. shale industry may struggling to achieve further productivity gains. If these improvements begin […]

  • Oil spill recovery in progress in the Bahamas

    by Oil and gas press -

    Equinor is progressing oil spill recovery at the South Riding Point terminal in the Bahamas after the impact of Hurricane Dorian. An onshore team has started to recover oil and move it into tank storage. A response team continues to assess the damage and plan the recovery work. Initial recovery assets have been deployed and […]

  • TWI, Saudi Aramco and ADNOC open Innovation Center in Cambridge, UK

    by Oil and gas press -

    Saudi Aramco Technologies Company (AramcoTech), and the Abu Dhabi National Oil Company (ADNOC) on Monday officially opened the Nonmetallic Innovation Center (NIC) — a research center focused on innovation and advancing the use of nonmetallic industrial applications. The launch of NIC will play an important role in advancing nonmetallic solutions across industries. The center is […]

  • Eni Report on the purchase of treasury shares

    by Oil and gas press -

    During the period from September 2 to September 6, 2019, Eni acquired n. 1,168,564 shares, at a weighted average price per share equal to 13.725063 euro, for a total consideration of 16,038,614.81 euro within the authorization to purchase treasury shares approved at Eni’s Ordinary General Meeting of shareholders on 14 May 2019, previously subject to […]

  • Oil Flash crashes After Trump Fires Security Advisor Bolton

    by Oil and gas press -

    A new deal between the United States and Iran may be on the horizon as US President Donald Trump just fired US National Security Advisor John Bolton—and oil prices are expected to take a turn for the worse. “I informed John Bolton last night that his services are no longer needed at the White House. […]

  • BP North Sea deploys Mars technology in world-first methane monitoring project

    by Oil and gas press -

    BP’s North Sea business has successfully executed a groundbreaking pilot project testing innovative ways of remotely monitoring methane emissions on its offshore assets. The pilot, which combined highly advanced sensor technology originally designed by NASA for the Mars Curiosity Rover with a fixed-wing remote piloted air system (RPAS), or drone, broke the UK’s record for […]

  • BP deploys continuous methane measurement for new projects

    by Oil and gas press -

    BP today announced that it will deploy continuous measurement of methane emissions in its future BP-operated oil and gas processing projects as part of its ambitious programme to detect, measure and reduce methane emissions. Continuous measurement, including instruments such as gas cloud imaging (GCI), will be rolled out to all new major projects worldwide. The […]

  • Cairn Announce Half-yearly Results 2019

    by Oil and gas press -

    Oil and gas sales revenue US$257m, average realised price US$68/boe; average production cost US$17/boe H1 2019 SummaryCombined net oil and gas production ahead of 2019 guidance at ~23,700 boepd (+15% v previous six months) Net cash inflow from oil and gas production US$177m Capital expenditure: cash outflow US$135m (US$14m of tax refund receivable) Group cash […]

  • Shell Announce second quarter 2019 Euro and GBP equivalent dividend payments

    by Oil and gas press -

    The Board of Royal Dutch Shell plc (“RDS”) today announced the pounds sterling and euro equivalent dividend payments in respect of the second quarter 2019 interim dividend, which was announced on August 1, 2019 at US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, […]

  • Equinor Bahamas update

    by Oil and gas press -

    Equinor continues the work to respond to the effects of Hurricane Dorian on the South Riding Point terminal and the oil spill at the terminal site and nearby. The situation in the Bahamas remains challenging due to damage to infrastructure. We are supporting employees affected by the hurricane. The first vessel, contracted by Equinor, with […]

  • MHPS Receives Order from HK Electric

    by Oil and gas press -

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received an order for natural-gas-fired gas turbine combined cycle (GTCC) power generation system equipment for Lamma Power Station’s Unit 12 (output: 380 megawatts [MW]) to be built in Hong Kong by The Hongkong Electric Co., Ltd. (HK Electric). MHPS will supply the main components through Mitsubishi Corporation (MC), […]

  • NNPC Seeks DSS Intervention to Halt Rising Cross-Border Leakages

    by Oil and gas press -

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has called on the Department of State Services (DSS) to help squelch the escalating cases of petroleum products smuggling and other allied vices which had remained a clog in the drive to achieve efficiency in the operations of the Oil and […]

  • Equinor to clean up the Bahamas oil spill

    by Oil and gas press -

    In the aftermath of Hurricane Dorian there are reports of widespread devastation across the Bahamas. Equinor will clean up the spills from the South Riding Point oil terminal. Resources are being mobilized as quickly as possible to safeguard people, the environment and the facility. At the time of arrival of the hurricane, Equinor had 54 […]

  • ADNOC Closes Pipeline Infrastructure Investment deal with GIC

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) announced today that it has formally closed its $600 million pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. This marks the successful closing of the total investment transaction, following the formal closing of the initial investment agreement with BlackRock and KKR on June 27, and the […]

  • NNPC/NAOC/OANDO JV makes Significant Discovery Onshore Niger Delta

    by Oil and gas press -

    Oando PLC (“Oando” ), through its Upstream subsidiary Oando Energy Resources (OER) announced that the NNPC/NAOC/OANDO Joint Venture (NNPC 60%, Oando 20% and NAOC the operator 20%), has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta. The Obiafu-41 Deep appraisal/exploration well has reached […]

  • Exxon Agrees $4 Billion Sale Of 20 Oil And Gas Assets In Norway

    by Oil and gas press -

    Exxon has agreed to sell off its oil and gas assets in Norway in a $4 billion deal, Reuters sources familiar with the matter said on Thursday, in what will mark an end to its long presence in Norway’s upstream sector. Exxon is selling its minority-held stages in 20 fields, currently operated by Equinor and […]

  • Gazprom and KOGAS Discuss further cooperation on LNG

    by Oil and gas press -

    Alexey Miller, Chairman of the Gazprom Management Committee, met with Hee-Bong Chae, President and Chief Executive Officer of KOGAS, at the 5th Eastern Economic Forum in Vladivostok. The meeting participants reviewed the state and prospects of cooperation between the companies, highlighting the stability of LNG supplies under the contract between Sakhalin Energy Investment Company Ltd. […]

  • Venice, Eni and Toyota sign agreement

    by Oil and gas press -

    Venice is experimenting with hydrogen-fuelled mobility, which only releases water vapour from exhausts. This afternoon in Mestre, as part of the events organised by Italy’s Japan Foundation for ‘Japan Week’, the Municipality and the Metropolitan City of Venice, Eni and Toyota signed an agreement to evaluate the construction of a hydrogen refuelling station in the […]

  • Euro Gas Prices Plunge To 10-Year Low

    by Oil and gas press -

    Natural gas prices in Europe are set to drop even lower than the current ten-year lows this fall. Storage facilities across the continent are fuller than usual for this time of the year. Natural gas suppliers are not expected to curb deliveries despite the low prices, abundant supply, and tepid demand. The winter heating season […]

  • Saudi Aramco signs MoU with China Zhejiang Free Trade Zone

    by Oil and gas press -

    Saudi Aramco today signed a Memorandum of Understanding (“MoU”) with China’s Zhejiang Free Trade Zone, in which the Zhoushan Government emphasized its support for incentivizing Saudi Aramco’s greater investment in Zhejiang’s future downstream growth. The MoU was signed in conjunction with a visit to Saudi Aramco’s headquarters in Dhahran by Yuan Jiajun, Governor of the […]

  • Equinor Statement on the Bahamas after Hurricane Dorian

    by Oil and gas press -

    We are concerned by the reports of widespread devastation coming from the Bahamas in the aftermath of Hurricane Dorian. All Equinor personnel in the Bahamas are now confirmed safe and accounted for. The safety and well-being of our personnel, their families, and the local environment is our first priority. At the time of arrival of […]

  • Equinor launches a USD 5 billion share buy-back programme

    by Oil and gas press -

    Equinor (OSE: EQNR, NYSE: EQNR) is launching a share buy-back programme of up to USD 5 billion over a period until the end of 2022. The first tranche of the programme of around USD 1.5 billion is commencing today and will end no later than 25 February 2020. “Equinor is committed to capital distribution to […]

  • Johan Sverdrup start-up schedule Fast Tracked

    by Oil and gas press -

    Equinor and its partners are preparing for production start from the world class Johan Sverdrup field already in October this year, one month ahead of schedule. Equinor also presents updated operating costs and strong cash flow estimates for the initial year of production. The Johan Sverdrup development continues to progress well through the final stages […]

  • Ancala Midstream secures multi-million-pound contract with Zennor

    by Oil and gas press -

    Ancala Midstream Acquisitions (“Ancala Midstream”) has secured a life-of-field contract to process the gas sourced from the Finlaggan field owned by Zennor Pathway (“Zennor”). The gas will be processed through Ancala Midstream’s Scottish Area Gas Evacuation (SAGE) terminal in St. Fergus, north east Scotland. The multi-million-pound contract with Zennor will help ensure the SAGE system […]

  • Launch of the Giant Arctic LNG 2 Development

    by Oil and gas press -

    Total, Novatek and the other project shareholders have approved the final investment decision (FID) for Arctic LNG 2, a major liquefied natural gas (LNG) development located on the Gydan peninsula, Russia. The project will have a production capacity of 19.8 million tons per year (Mt/y) and is expected to export its first LNG cargo by […]

  • First Cargo from Freeport LNG Train 1

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) along with its partners, Chiyoda International Corporation and Zachry Group, announced today that the first commissioning cargo of liquefied natural gas (LNG) has been shipped from the Freeport LNG project on Quintana Island in Freeport, Texas. Feed gas was introduced into Freeport LNG Train 1 on July 22 and today’s […]

  • Gazprom delegation visits China

    by Oil and gas press -

    A Gazprom delegation headed by Alexey Miller, Chairman of the Company’s Management Committee, paid a visit to China today. Beijing hosted working meetings of Alexey Miller with Han Zheng, Vice Premier of the State Council of the People’s Republic of China, and Wang Yilin, Chairman of the Board of Directors of CNPC. The meetings were […]

  • CME Group to Launch First-Ever Physical LNG Futures Contract

    by Oil and gas press -

    Connecting Global Gas Market Participants to U.S. Exports in October CME Group, the world’s leading and most diverse derivatives marketplace, today announced its new liquefied natural gas (LNG) futures contract – U.S. LNG Export futures – will be available for trading on October 14, 2019, pending regulatory review. U.S. LNG Export futures will be the […]

  • CME Group Reaches Second-Highest Monthly Volume Ever

    by Oil and gas press -

     CME Group , the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 24.3 million contracts during August 2019, up 53% from August 2018 and the second-highest monthly ADV on record. During a month that historically sees lower average daily volumes, August 2019 was the company’s best August ever. Open interest (OI) at the end of […]

  • Snefrid Nord on stream

    by Oil and gas press -

    On 1 September Equinor and its partners started production from the Snefrid Nord gas field, the first discovery tied back to the Norwegian Sea Aasta Hansteen field. It also sets a new depth record on the Norwegian continental shelf (NCS). Recoverable resources for Snefrid Nord are estimated at 4.4 billion standard cubic metres of gas […]

  • Atlantic Petroleum issues Clarification to Berlingske Business News Article .

    by Oil and gas press -

    P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK & Oslo Stock Exchange: ATLA NOK) hereby needs to clarify statements made by Danish media company Berlingske Business in a news article published earlier today. The statements made in the news article have also been cited by several other news media. Fee imposed by NASDAQ Copenhagen In the […]

  • Wood secures contract extension with TAQA

    by Oil and gas press -

    Wood has been awarded a contract extension for engineering, construction and maintenance services on TAQA’s North Sea assets. Effective immediately, the 18-month extension builds on a previous agreement covering the Cormorant Alpha, Eider, Tern, North Cormorant and subsequently Harding offshore assets, and will see Wood’s activities continue to support these installations. The work will be […]

  • DNV GL awarded verification services contract with Apache

    by Oil and gas press -

    Apache Corporation has awarded DNV GL a new verification services contract. The contract, which has a primary term of three years, and two one year extension options, involves operations and project verification for all Apache’s North Sea assets; Beryl A & B and Forties A, B, C, D & E. DNV GL will offer a […]

  • Aker Solutions Launches Intelligent Subsea

    by Oil and gas press -

    Aker Solutions today launches its Intelligent Subsea offering designed to accelerate field development and maximize performance. The industry has standardized, simplified and reduced the size of equipment in recent years, but a further step-change is needed to drive a sustainable future for the subsea industry and the world it serves. With Aker Solutions’ intelligent subsea […]

  • Africa Oil Open London Office

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) reports that it has opened a new corporate office in Central London as of September 1, 2019. Three senior management staff will be relocating to London including Keith Hill (CEO), Tim Thomas (COO) and Paul Martinez (VP Exploration). The technical and accounting staff and function will continue […]

  • CNOOC Report Surge in Net Profit

    by Oil and gas press -

    CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced its 2019 interim results for the six months ended June 30, 2019. CNOOC Limited devoted efforts in exploration and development activities during the first half of 2019 through a pragmatic and enterprising approach, and successfully increased oil and gas reserves and production levels. The […]

  • Weatherford Signs $80 Million Agreement With Equinor

    by Oil and gas press -

    Weatherford International plc (OTC-PINK: WFTIQ) announced it has signed an $80 million liner-hanger frame agreement with Equinor, a Norwegian-based international energy company. The four-year deal represents the largest liner-hanger frame agreement ever signed by Weatherford. Mark Hopmann, President of Completions for Weatherford said, “Weatherford is the market leader for liner-hanger technology across the North Sea. […]

  • Total’s Executive Committee

    by Oil and gas press -

    Two new members have joined Total’s Executive Committee. As of August 1, 2019, Jean-Pierre Sbraire is Chief Financial Officer and member of the Total Executive Committee, following Patrick de La Chevardière’s retirement. As of August 19, 2019, Helle Kristoffersen is President, Strategy & Innovation and a Total Executive Committee member. The position was previously held […]

  • China Helps Venezuela Boost Oil Production

    by Oil and gas press -

    China has financed the construction of a new oil blending plant in Venezuela that will boost the country’s flagging oil production by 120,000 bpd, IHS Markit reports, citing an investment of US$3 billion, provided by China’s CNPC, PDVSA’s partner in the Sinovensa venture that will operate the new plant. The news could turn into yet […]

  • OPEC Abandons ‘’Whatever It Takes Strategy’’

    by Oil and gas press -

    OPEC’s production increased in August thanks to Iraq and Nigeria a Reuters survey found on Friday. OPEC’s August production has been estimated at 29.61 million barrels per day, which is 80,000 barrels per day over July’s production level. The production increase is surprising, given that Iran and Venezuela are producing less not by choice, and […]

  • No Explosion on NNPC Pipeline

    by Oil and gas press -

    Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has disclaimed reports of explosion on the Abura Crude Trunk line operated by the Corporation. The line, situated at Otu-Jeremi town in Ughelli, Delta State, which is operated by the Nigerian Petroleum Development Company (NPDC), NNPC’s Upstream subsidiary, was reported to have […]

  • NNPC Assures Host Communities of Sustained Partnership

    by Oil and gas press -

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has assured host communities of oil and gas installations of sustained and symbiotic engagement with the national oil company in such a way as to entrench mutually beneficial partnership with the industry. The NNPC GMD made the pledge in response to […]

  • Neste appoints Jeremy Baines President of Neste US

    by Oil and gas press -

    Jeremy Baines has been appointed as President of Neste US as of 1 September 2019. In his role, he is responsible for supporting and aligning regional business strategies to deliver the strategic growth targets, and he acts as Neste’s primary representative for the external community in the US. “The US presents important opportunities for our […]

  • Gazprom Announce Results for the six months ended June 30, 2019 (under International Financial Reporting Standards (IFRS)

    by Oil and gas press -

    Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the six months ended June 30, 2019. The table below presents the unaudited consolidated interim condensed statement of comprehensive income for the six months ended June 30, 2019 and for […]

  • Blue Corridor – Gas into Engines 2019 Rally

    by Oil and gas press -

    The Blue Corridor – Gas into Engines 2019 Rally kicked off today in Istanbul. The large-scale international rally for vehicles powered by natural gas will traverse Europe and Russia. The event is organized by Gazprom and Germany’s Uniper. The race features more than 20 cars, trucks and passenger vehicles powered by compressed and liquefied natural […]

  • Equinor completes sale of shares in Lundin Petroleum

    by Oil and gas press -

    Equinor and Lundin have completed both parts of the transaction announced on 7 July 2019. This follows all transaction conditions being met, including government and regulator approvals. The overall result is that Equinor has divested a 16 percent shareholding in Lundin for a direct interest of 2.6 percent in the Johan Sverdrup field and a […]

  • Oceanteam ASA reports half-year 2019 results

    by Oil and gas press -

    The financial restructuring of the Group has been successfully completed. Both segments performed according to expectations and in combination with decreased financing costs after financial restructuring led to a return of profitability over the first half of 2019. Equity ratio improved further to 72 percent (H1 2018: 62 percent). Both vessels were under charter contract […]

  • Arrival of Liza Destiny Offshore Guyana

    by Oil and gas press -

    Hess Corporation (NYSE: HES) today announced that the Liza Destiny, Guyana’s first oil production vessel, has arrived at the Stabroek Block. The Floating, Production, Storage and Offloading (FPSO) vessel arrived following a 42 day journey from Singapore. This FPSO is a significant component of the Liza Phase 1 development, which involves four undersea drill centers […]

  • Total Terminates Agreement with Tullow

    by Oil and gas press -

    On January 9, 2017, Total and Tullow entered into a Sale and Purchase Agreement (SPA) whereby Total would acquire 21.57% out of Tullow’s 33.33% interest in the Lake Albert licenses. CNOOC exercised its right to pre-empt 50% of the transaction. As a result, Total and CNOOC would have each increased their interest to 44.1% while […]

  • The President of Mexico meets Eni CEO

    by Oil and gas press -

    The President of Mexico, Andrés Manuel López Obrador, and the CEO of Eni, Claudio Descalzi, met yesterday in Mexico City. The meeting took place in the presence of the Secretary of Energy, Rocío Nahle, and was the occasion to discuss Eni’s important operational activities, present and future, in the country. Particular emphasis was given to […]

  • Golar LNG Interim results for the period ended June 30, 2019

    by Oil and gas press -

    Financial Highlights Contract Earnings Backlog1 (Golar LNG Limited share) of $6.5 billion. Agreed to phased buyback of the 3 million shares underlying the Total Return Swap (“TRS”) at an incremental cash cost of approximately $31 million. Dividend suspended for two quarters to finance intended TRS buyback. Adjusted net debt1 of $2.3 billion, $1.0 billion of which relates […]

  • Total and CNOOC Terminate farm-down agreement in Uganda

    by Oil and gas press -

    Tullow Oil plc (“Tullow”) announces it has been informed that its farm-down to Total and CNOOC will terminate at the end of today, 29 August 2019, following the expiry of the Sale and Purchase Agreements (SPAs). Tullow has been unable to secure a further extension of the SPAs with its Joint Venture Partners, despite previous […]

  • ‘G-Camp’ offers invaluable geology experience for U.S. educators

    by Oil and gas press -

    Thirty American science teachers recently went on an educational trek across the southwestern U.S. in a geology program that combines classroom learning with real world experiences sponsored by Houston-based Aramco Services Company (ASC). Founded in 2007, the annual Geology Camp (G-Camp) is a Texas A&M University program investing in the professional development of teachers, and […]

  • Neste commercial fueling sites now open in Northern and Central California

    by Oil and gas press -

    Fleet drivers in Northern and Central California can now fuel up at multiple commercial fueling sites with high-performance, low-carbon Neste MY Renewable Diesel™, thanks to the recent opening of three new locations. The new cardlock stations join the first location in San Leandro, California, which opened in March 2019. Made by the world’s largest producer […]

  • Roxtec appoints new marine and offshore manager

    by Oil and gas press -

    Greater Manchester-based international safety seal manufacturer Roxtec has appointed a new Marine and Offshore Sales Manager. James Yates, joins Roxtec from another well-known international manufacturer and will be responsible for northern England and Wales. “It is an exciting time to work for Roxtec when momentum is building in the marine and offshore sectors,” said John […]

  • GE completes gas turbine upgrade at Tanzania’s Songas Ubungo Power Plant

    by Oil and gas press -

    GE (NYSE: GE) and Songas announced they have successfully completed upgrades to the entire GE fleet of three LM6000PA and one LM6000PC gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania. These technology upgrades will increase the power plant’s efficiency and reliability, enabling Songas to maintain the plant in the most […]

  • ExxonMobil and Mosaic Materials to explore new carbon capture technology

    by Oil and gas press -

    Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale. “New technologies in carbon capture will […]

  • BP to sell Alaska business to Hilcorp

    by Oil and gas press -

    BP announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage, Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion. The sale will include BP’s entire upstream and midstream business in the […]

  • Total Strengthens Partnership with Qatar Petroleum

    by Oil and gas press -

    Total and Qatar Petroleum have further strengthened their international partnership by signing agreements under which Qatar Petroleum will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. Following completion of the transactions, which are subject to approval by relevant authorities, Qatar Petroleum will partner with Total in each country as outlined below: Namibia Total […]

  • Ten selected for Equinor’s Techstars Energy Accelerator 2019

    by Oil and gas press -

    Equinor today announced the second class of global start-up companies selected to participate in the Techstars Energy Accelerator. Three Norwegian companies participate in the programme. The ten start-up companies have been selected from hundreds of applicants across 42 countries. Through an intensive 13-week programme they will seek to accelerate their solution by tapping into a […]

  • TechnipFMC to Create 2 Industry-Leading, Independent, Publicly Traded Companies

    by Oil and gas press -

    TechnipFMCplc (NYSE: FTI) (Paris: FTI) today announced its Board of Directors has unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development; and SpinCo, a leading engineering and construction (E&C) player, poised to capitalize on the global energy transition. The […]

  • Africa Oil Spuds Joe-1 Well Offshore Guyana

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced that drilling of the Joe prospect has commenced offshore Guyana. This is the second exploration well on the Orinduik Block. Joe-1 was spud on 25 August 2019 using the Stena Forth drillship which drilled the recently announced Jethro oil discovery. The well is estimated to take […]

  • Equinor dividend per share for the first quarter 2019 in NOK

    by Oil and gas press -

    Equinor (OSE: EQNR, NYSE: EQNR) announced 3 May 2019 dividend per share of USD 0.26 for first quarter 2019. The NOK dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 20 August 2019, in total seven business days. Average Norges Bank […]

  • Significant gas and condensates discovery onshore Niger Delta

    by Oil and gas press -

    Eni, through its affiliate NAOC (Eni 20%, operator, NNPC 60%, Oando 20%) has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta. The Obiafu-41 Deep well has reached a total depth of 4.374 m encountering an important gas and condensate accumulation within the deltaic […]

  • Eni awarded Exploration Block in the Kutei Basin Indonesia

    by Oil and gas press -

    Eni (40% Operator) and its partners, Pertamina (30%) and Neptune (30%), have been awarded by the Ministry of Energy and Mineral Resources the West Ganal exploration block in the Kutei Basin, offshore Indonesia, as a result of the second conventional oil and gas bidding round 2019. West Ganal is a new Gross Split PSC (Production […]

  • Rosneft, INP and ENH Sign Agreement in Mozambique

    by Oil and gas press -

    Rosneft Oil Company and the National Petroleum Institute (Instituto Nacional de Petróleo, INP) have signed a Cooperation Agreement. The document was signed by Chief Executive Officer of Rosneft Oil Company Igor Sechin and Chairman of INP Carlos Zacarias. In addition, Rosneft has signed a Memorandum on Expansion of cooperation in Mozambique with the National Hydrocarbon […]

  • LEKOIL Acquires Participating Interest in OPL276

    by Oil and gas press -

    LEKOIL (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa more generally, has agreed to acquire, subject to the receipt of the required consents, via Lekoil 276 Limited (“Lekoil 276” which is a 100 per cent. owned subsidiary of Lekoil Nigeria), a 45 per cent. participating […]

  • U.S. To “Drown The World” In Oil

    by Oil and gas press -

    The U.S. could “drown the world in oil” over the next decade, which, according to Global Witness, would “spell disaster” for the world’s attempts to address climate change.  The U.S. is set to account for 61 percent of all new oil and gas production over the next decade. A recent report from this organization says that to […]

  • Enova supporting pioneer project

    by Oil and gas press -

    Enova has approved an application for funding of up to NOK 2.3 billion to support the Hywind Tampen project for developing the world’s first floating offshore wind farm supplying renewable power to offshore oil and gas installations. Equinor and its partners are considering the possibility of supplying electricity from a floating offshore wind farm to […]

  • TechnipFMC Awarded Contract for the Shell PowerNap project

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors for three wells, in addition to the supply of 20 […]

  • CNPC Discovery Confirms South Sudan’s Immense Oil Potential

    by Oil and gas press -

    In what has become a remarkable month for exploration in Africa, a CNPC-led consortium has made a 300 million barrels of recoverable oil discovery in South Sudan’s northeastern Upper Nile state. It is almost as much as the Oyo Discovery announced earlier this month in Congo. The exploration well was drilled at a total depth […]

  • Zohr gas production reaches 2.7 bcfd

    by Oil and gas press -

    Eni announces that the production from Zohr field has now reached more than 2.7 billion cubic feet per day (bcfd), about 5 months ahead of the Plan of Development (PoD). This remarkable result has been achieved following the completion of all eight onshore treatment production units – the last one commissioned in April 2019 – […]

  • Oil Prices Steady As EIA Reports Small Crude Draw

    by Oil and gas press -

    Oil prices held steady on Wednesday morning after the Energy Information Administration today reported a draw of 2.7 million barrels in crude oil inventories. Analysts had expected a draw, after yesterday the API also reported lower inventories and much lower than forecast, at that. The Institute’s estimate was for a 3.45-million-barrel decline versus expectations for a draw of 1.889 […]

  • Successful C-Kore deployment in the North Sea

    by Oil and gas press -

    C-Kore Systems have completed another successful deployment in the North Sea, on the Greater Guillemot Area field, with the help of the C-Kore subsea testing tools. Faulty elements in the subsea network were diagnosed and replaced within 24 hours of the start of the fault-finding campaign. The GGA area is operated by Dana Petroleum with […]

  • Equinor JV with YPF for offshore exploration in Argentina

    by Oil and gas press -

    Equinor’s executive vice president for Exploration, Tim Dodson, and YPF’s CEO Daniel Gonzalez have signed an agreement to jointly explore the CAN 100 offshore block, located in the North Argentinian Basin. The preliminary agreement, which was signed at Equinor’s office in Oslo, Norway, sets the core terms and conditions for YPF’s transfer of 50% of […]

  • Aker Solutions to Deliver Umbilicals for Project in the UAE

    by Oil and gas press -

    Aker Solutions has won an order from ADNOC (Abu Dhabi National Oil Company) to deliver subsea umbilicals for the Dalma gas development project located offshore UAE in the shallow waters of the Persian Gulf. “This is the first subsea umbilical award by ADNOC in the UAE and the first subsea award for Aker Solutions in […]

  • West Africa’s First LNG Storage and Regasification Plant

    by Oil and gas press -

    German companies ESC Engineers and Noordtec worked closely with Equatoguinean contractor Elite Construcciones on the design, development and construction of the Akonikien LNG project in Equatorial Guinea. The 14,000 cubic metres storage and regasification plant was inaugurated this week by H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, and is the first such […]

  • Light oil discovery in the Barents Sea

    by Oil and gas press -

    Equinor and partners OMV and Petoro have made an oil discovery in the Sputnik exploration well in the Barents Sea. Recoverable resources are preliminarily estimated at 20-65 million barrels of oil. The Sputnik well was drilled in licence PL855, approximately 30 kilometres North East of the Wisting discovery. The well encountered a 15 metre oil […]

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