Latest Release

  • Port Harcourt Refinery Bags Africa’s First ISO 9001:2015 Certification

    by Oil and gas press -

    Port Harcourt Refining Company (PHRC) Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has attained the International Organisation for Standardization (ISO) 9001:2015 Quality Management System (QMS) certification, the first by any refinery on the African continent. Mr. Richard Omale, Managing Director of 3FM Solutions, a Management Consulting Company whose outfit conducted the QMS […]

  • Wood announces disposal of non-core conveyor systems business

    by Oil and gas press -

    Wood today announces further progress with its non-core asset disposal programme having agreed the sale of its Terra Nova Technologies business, a conveying and material handling systems solutions business, to Cementation Americas, a business owned by Murray & Roberts Holdings Ltd. Cash proceeds in respect of the disposal will be $38m, representing a multiple of […]

  • TechnipFMC Awarded Integrated EPCI Contract Offshore Indonesia

    by Oil and gas press -

    TechnipFMC (NYSE:FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI™) contract by Eni for the Merakes project, located offshore Balikpapan Indonesia, at a water depth of approximately 1,500 meters. This contract covers five deepwater wells, and their 50-kilometer tie back to the existing Jangkrik Floating Production Unit in Indonesia. The […]

  • Eni and CNR sign Joint Research Agreement (JRA) in Italy

    by Oil and gas press -

    Massimo Inguscio, President of the Italian National Research Council (CNR), and Claudio Descalzi, Eni CEO, following their meeting held last May, signed today a Joint Research Agreement (JRA), , to set up four linked research centres in southern Italy. Also, in attendance were Prime Minister Giuseppe Conte, Minister for Southern Italy Barbara Lezzi and the […]

  • NLNG, NCDMB to sign $1bn Train 7 Project Nigerian Content Plan

    by Oil and gas press -

    The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited (NLNG) will on Friday in Abuja sign the Nigerian Content Plan (NCP) for NLNG’s Train 7 project, estimated to cost $1bn. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote and the Managing Director of NLNG, Engr. Tony Attah met at the […]

  • NNPC Starts Rehabilitation of Port Harcourt Refinery

    by Oil and gas press -

    Nigeria’s effort at ensuring local sufficiency in refined petroleum products was bolstered Thursday with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery complex that comprises the 60,000 barrels per day old Refinery built in 1965 and the 150,000 barrels per day, new Refinery, […]

  • Why No One Is Interested In Building EV Infrastructure

    by Oil and gas press -

    Across the United States, gas stations outnumber charging stations for electric vehicles by a ratio of approximately seven to one. Large stretches of highway without charging stations and a general scarcity of places to plug in give many potential EV adopters cold feet, and understandably so. This means that building more charging stations is in […]

  • Hungary gas imports from Gazprom up 9.3 per cent

    by Oil and gas press -

    A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, took place today in Moscow. The parties discussed their current cooperation issues, including gas supplies. In 2018, Hungary increased its gas imports from Gazprom by 9.3 per cent, up to 7.6 billion […]

  • Johan Sverdrup field centre Record-breaking lift

    by Oil and gas press -

    Three days – that’s what it took to lift four of the last pieces in the Johan Sverdrup puzzle into place – the two final platform topsides, a bridge and a flare stack. The processing platform lift was the heaviest lift ever performed offshore. “Now we are in the process of concluding the installation campaign […]

  • TechnipFMC Donates $100,000 to Support Cyclone Idai Relief Efforts in Mozambique

    by Oil and gas press -

    TechnipFMC (Paris:FTI) (NYSE:FTI) announced today a donation of $100,000 to assist disaster relief and recovery efforts following Cyclone Idai, which made landfall in Mozambique on March 14. The funds will be contributed to the Red Cross for ongoing rescue efforts and for shelter and basic commodities for the victims. TechnipFMC employees in Mozambique have all […]

  • Murphy Oil Corporation Announces Strategic Sale of Malaysian Portfolio

    by Oil and gas press -

    Murphy Oil Corporation (NYSE: MUR) (“Murphy”) announced today that a subsidiary has signed a sale and purchase agreement to divest the fully issued share capital of its two primary Malaysian subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., Ltd., to a subsidiary of PTT Exploration and Production Public Company Limited (“PTTEP”). PTTEP […]

  • NNPC Targets 2.3m bpd Crude Oil Production Budget Benchmark

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has said that the Oil Industry would achieve the 2.3million barrel per day production volume-target for the 2019 budget, assuring that measures have been emplaced to attain the set mark. Speaking in a presentation to the Senate Committee on Finance on the 2019 – 2021 Medium Term Expenditure Framework […]

  • Aramco unveils new ‘Fourth industrial revolution center’

    by Oil and gas press -

    At Aramco’s premises in Dhahran, a remodeled and vastly expanded office wing has been converted into a 4IR Center, where technological and digital innovation is, in turn, transforming the way in which the company runs its operations. In a global economy that is increasingly leveraging the opportunities afforded by what is known as the ‘Fourth […]

  • Total releases its Registration Document 2018

    by Oil and gas press -

    The Document de référence of TOTAL S.A. for the year 2018 was filed with the French Financial Markets Authority (Autorité des marchés financiers) on March 20, 2019. It can be consulted and downloaded from the Company’s website (total.com, under the heading Investors / Regulated information). An English translation of the Document de référence (Registration Document) […]

  • NNPC Hints of Progress in Drilling at Kolmani River-II Well

    by Oil and gas press -

    The Kolmani River-II Well which spud-in was flagged off last month by President Muhammadu Buhari is progressing satisfactorily, with drilling so far of 6,700 feet, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said. A release today in Abuja by NNPC Group General Manager, Group Public Affairs, Mr. […]

  • Aramco shows innovation and technology leadership at CERAWeek 2019

    by Oil and gas press -

    Saudi Aramco’s leading role in energy innovation was on full display at CERAWeek 2019 in Houston as the company’s technology strategists and researchers discussed their latest solutions and spoke about the path forward for new technologies to drive sustainability in the industry. Saudi Aramco chief technology officer Ahmad O. Al-Khowaiter spoke on a panel called […]

  • ExxonMobil support relief efforts in Mozambique following Cyclone Idai

    by Oil and gas press -

    ExxonMobil said that it is providing $300,000 to aid agencies to support disaster relief and recovery efforts in Mozambique following Cyclone Idai, which made landfall on March 14. Funding will be provided to the Red Cross and other agencies to assist with disaster relief efforts ExxonMobil employees, contractors reported safe Of this amount, $250,000 will […]

  • Crude Oil Price to 18/03/19

    by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $66.87 a barrel on Monday, 18 March 2019, compared with $66.91 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • BP inaugurates UK’s largest public rapid charging hub

    by Oil and gas press -

    The country’s largest universal rapid charging hub for electric vehicles has been inaugurated by Milton Keynes council and BP Chargemaster, which is operating the hub on Polar, the largest public charging network in the UK. The hub is located within a minute’s drive of the M1, just off junction 14 at Milton Keynes Coachway. Milton […]

  • INEOS to invest £1 Billion in UK

    by Oil and gas press -

    INEOS is to invest £1 billion in the UK in multiple projects designed to ensure its British assets stay world class for a generation. The biggest investment being announced is in the Forties Pipeline System (FPS). This £500 million investment will transform the asset and extend the life of the pipeline by at least twenty […]

  • OPEC and non-OPEC participants renew commitment to market stabilization

    by Oil and gas press -

    The Joint Ministerial Monitoring Committee (JMMC) convened in Baku, the Republic of Azerbaijan, for its thirteenth meeting on 18 March 2019. The Committee reviewed the monthly report prepared by its Joint Technical Committee (JTC) and recent developments in the global oil market, as well as immediate prospects for the remainder of 2019. The JMMC reiterated […]

  • New oil and gas discovery in North Sea

    by Oil and gas press -

    Eni through Vår Energi, jointly owned by Eni (69.6%) and by HitecVision (30,4%) announces an oil and gas discovery in production licence 869 in the North Sea by drilling the exploration well 24/9-14S and a horizontal appraisal well 24/9-14A in the Froskelår Main prospect. Vår Energi AS holds a 20% stake in the licence, while […]

  • 34 Per cent Increase in Pipeline Breaches Nationwide – NNPC

    by Oil and gas press -

    There appears to be no let-up in the activities of vandals who in December last year pushed pipeline breaches across the Country by a whopping 34 percentage point, NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated this in a release Sunday in Abuja. Ughamadu said the upward swing in the breaches […]

  • Imperial Oil ramps down Aspen oil sands project execution

    by Oil and gas press -

    Exxon’s Canadian subsidiary, Imperial Oil Ltd said it has slowed the pace of development of its Aspen in situ oil sands project given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges. Imperial’s view remains that free markets work and intervention sends a negative message to investors about doing business in Alberta […]

  • Millennial and Generation Z STEM Talent Are Interested in a Career in the Oil and Gas Industry

    by Oil and gas press -

    The oil and gas industry is facing strong competition in attracting science, technology, engineering and mathematics (STEM) talent, with 44% of STEM Millennials and Generation Zs (Gen Z) interested in pursuing a career in oil and gas, compared to 77% in the technology sector, 58% in life sciences and pharmaceuticals, and 57% in healthcare – […]

  • ADNOC Awards INPEX CORP. Onshore Exploration Concession

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) signed an agreement, today, awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s INPEX CORPORATION. A wholly-owned INPEX subsidiary, JODCO Exploration Limited, will hold and manage the interest in the concession on behalf of INPEX. The award has been endorsed by Abu Dhabi’s Supreme Petroleum […]

  • NOK 6,7 billion Johan Sverdrup living quarters topside ready for sail-away

    by Oil and gas press -

    With 560 beds the Johan Sverdrup living quarters topside is the largest of its kind in Norway. The fourth and last platform for the first phase of the giant project is now ready for sail-away from Kværner’s yard on Stord to the Johan Sverdrup field, where it will be installed in a single lift. “This […]

  • Kværner sets new completion standard with Johan Sverdrup platform

    by Oil and gas press -

    As the Johan Sverdrup Utility and Living Quarter platform is transported to the offshore field, it sets a new standard for how complete an installation can be before sail-away. The result is saved costs and shorter time before the production can start the flow of revenues to the licence owners and to the society. The […]

  • Crude Oil Price Movement to 17/03/19

    by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $66.91 a barrel on Friday, 15 March 2019, compared with $67.29 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • Eni presents company’s 2019-2022 Strategic Plan

    by Oil and gas press -

    Claudio Descalzi, Eni’s CEO, presented the company’s 2019-2022 Strategic Plan to the financial community. Building on the strong foundations of the last few years, Eni’s 2019-2022 plan marks a new era in the company’s evolution to a world-leading global energy provider. After having completed the transformation of its business model, now swifter, faster and with […]

  • Eni’s consolidated financial statements to December 31, 2018

    by Oil and gas press -

    Eni’s Board of Directors approved Eni’s consolidated financial statements and the separate draft financial statements of the parent company for the year ending December 31, 2018. They confirm the 2018 preliminary adjusted results announced on February 15, 2019. Consolidated net profit amounted to €4,126 million and net profit of the parent company amounted to €3,173 […]

  • Crude Oil Price Movement to 13/03/19

    by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $66.60 a barrel on Wednesday, 13 March 2019, compared with $66.30 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • Ophir Energy plc Announce 2018 Full Year Results

    by Oil and gas press -

    Ophir announces its full year results for the year ended 31 December 2018. Strategic Highlights Completed the acquisition of Southeast Asian production licences from Santos for a total consideration of $205 million. The assets delivered material cash flow returning $117 million (on a proforma basis) of the acquisition cost during 2018. Took steps to reduce […]

  • Equinor is Extending life of eight installations

    by Oil and gas press -

    Equinor has received the authorities’ approval for extending the life of eight installations on the Norwegian continental shelf (NCS) during the last three years. Several of these installations were originally scheduled for shutdown already, or in only a few years. Instead, the extensions will give many more years of operation on the NCS. “Field life […]

  • Another gas discovery in the Nour prospect, Offshore Egypt

    by Oil and gas press -

    Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km North of the Sinai peninsula. The Nour-1 New Field Wildcat (NFW), which has led to the discovery, was drilled by the Scarabeo-9 semi-sub in a water depth […]

  • Saipem awarded US$220m Onshore Drilling contracts

    by Oil and gas press -

    Saipem has been new awarded new contracts, and extensions to other already existing contracts, in Onshore Drilling worth approximately 220 million USD in total. The new contracts involve projects to be carried out in Bolivia and Saudi Arabia, while the extensions of contracts already underway concern Saudi Arabia, Peru, Morocco and Romania. Francesco Racheli, Chief […]

  • Wood awarded construction contract by Siemens

    by Oil and gas press -

    Wood has secured a contract from Siemens to install a new Siemens HL-class gas turbine at a power generating station in North Carolina. The award will see Wood mobilize a team of around 400 people to the project site to deliver this notable construction project for a period of approximately 11 months. Andrew Stewart, Wood’s […]

  • Total Announce Distribution of the third 2018 interim dividend

    by Oil and gas press -

    The Board of Directors met on March 13, 2019 and declared the distribution of a third interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board’s decision of October 25, 2018, an amount equal to the first and second 2018 interim dividends, increased by 3.2% compared to the three […]

  • Arbitration Tribunal Orders Venezuela to Pay ConocoPhillips $8.7 Billion

    by Oil and gas press -

    ConocoPhillips (NYSE: COP) announced that an international arbitration tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has unanimously ordered the government of Venezuela to pay the company the amount of $8.7 billion in compensation for the government’s unlawful expropriation of ConocoPhillips’ investments in Venezuela in 2007, plus interest. […]

  • PTTEP makes new gas discovery in Orchid-1, offshore Australia

    by Oil and gas press -

    Phongsthorn Thavisin, President and Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP) disclosed that PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AAA), a wholly owned subsidiary of PTTEP had made a successful discovery of gas and condensate at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor […]

  • CME Group to Operate in Amsterdam

    by Oil and gas press -

    CME Group, announced that its new legal entity CME Amsterdam B.V. has received approval from the Dutch Minister of Finance. The establishment of the new Amsterdam-based entity will ensure that CME Group’s BrokerTec and EBS venues and CME Regulatory Reporting services (formerly NEX Regulatory Reporting) can continue to service their EU27 clients, regardless of the […]

  • BP to collaborate with Environmental Defense Fund

    by Oil and gas press -

    BP and Environmental Defense Fund (EDF) announced today a three-year strategic commitment to advance technologies and practices to reduce methane emissions from the global oil and gas supply chain. The agreement enables joint collaboration on projects that test technologies and emerging strategies to continue to improve methane management. Working with universities and third party experts, […]

  • Eni farms out 30% stake in the Tarfaya Area, comprising 12 exploration blocks

    by Oil and gas press -

    Eni and Qatar Petroleum signed a farm out agreement to enable Qatar Petroleum to acquire a 30% participating interest in Tarfaya Offshore Shallow Petroleum Agreement, comprising 12 exploration blocks in the offshore of Morocco. The agreement is subject to the authorization by the Moroccan authorities. The Tarfaya Area is located in the southern part of […]

  • Eni announces a major oil discovery offshore Angola

    by Oil and gas press -

    Eni announces a major oil discovery in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water. The new discovery is estimated to contain between 450 and 650 million barrels of light oil in place with further upside. The Agogo-1 NFW well, which has led to the discovery, is located approximately 180 kilometers off […]

  • Boeing 737 Max 8 Airplane banned in following countries

    by Oil and gas press -

    This is the same model as the Ethiopian Airlines plane that killed all 157 people on board last Sunday in a crash. Six months earlier, the same model airplane, operated by Lion Air in Indonesia— crashed and killed all 189 people onboard. While the cause of Sunday’s tragedy remains undetermined, and the investigation into the […]

  • NNPC to Woo Foreign Investors at CERA Week, Houston

    by Oil and gas press -

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, will on Wednesday address foreign investors at the CERAWeek, an international energy conference taking place in Houston, United States. Dr. Baru, who will speak during a Special Session entitled “Africa: Foundations for New Investment”, will be joined by some African petroleum […]

  • Emerson and Repsol to Form Strategic Alliance

    by Oil and gas press -

    Emerson (NYSE: EMR), and Repsol announced they have established a strategic alliance to deliver advanced subsurface geophysical technologies to significantly reduce the time to prospect and produce first oil. To achieve this critical industry goal, Emerson will work collaboratively with Repsol to implement and deploy advanced subsurface imaging technologies, with core technologies developed by Repsol […]

  • Eni and Cassa Depositi e Prestiti sign collaboration agreement

    by Oil and gas press -

    The Chief Executive Officer of Cassa Depositi e Prestiti (CDP), Fabrizio Palermo, and the Chief Executive Officer of Eni, Claudio Descalzi, have signed a collaboration agreement for the identification and joint promotion of initiatives in Italy related to the circular economy, decarbonization and sustainability, to be undertaken also through the revitalization of industrial sites. They […]

  • BP responds to Financial Times article on methane regulation

    by Oil and gas press -

    The Financial Times today published an article on BP’s stance on the regulation of methane emissions. BP does not believe the article reflects its commitment to tackling methane emissions nor the extensive actions it is taking across its business. The full statement, below, was provided to the FT before the piece was published. Natural gas […]

  • BP Awards Contracts to BHGE & McDermott

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) and Baker Hughes, a GE company (NYSE: BHGE) have announced today that they have been awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts by BP for the Greater Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal. BP, BHGE and McDermott are working […]

  • Eni accelerates the shift to decarbonization

    by Oil and gas press -

    Eni has begun the construction of two new solar photovoltaic projects in Pakistan and Tunisia. The Pakistan plant will be built in close proximity to the Bhit gas field at which Eni is the operator with a 40% stake, through its subsidiary Eni New Energy Pakistan. The Tunisia plant will be built at the ADAM […]

  • Zero Island project in Sweden

    by Oil and gas press -

    Neste, a global leader in renewable diesel and renewable jet fuel made from waste and residues and one of the world’s most sustainable companies is introducing sustainable Zero Vacation. The Zero Vacation is a part of Neste’s Zero Island project that looks for different ways to reach zero emissions in Sweden. The vacations take place […]

  • BP introducing new marine fuel

    by Oil and gas press -

    BP Marine has announced that it will begin to retail low sulphur fuel that meets new MARPOL regulations limiting the sulphur content of marine fuels. BP is introducing a new very low sulphur fuel oil (VLSFO), with a maximum 0.5% sulphur content, following successful sea trials with fuel manufactured and supplied by BP in the […]

  • Aker Solutions Wins FEED Contract

    by Oil and gas press -

    Aker Solutions has been awarded a master contract to support the delivery of a subsea compression system for the Chevron Australia-operated Jansz-Io field offshore Australia. The first service order under the master contract will be for front-end engineering and design of a subsea compression station that will boost the recovery of gas from the field. […]

  • MHPS’ H-100 Gas Turbine Gains Momentum

    by Oil and gas press -

    MHI Group’s efforts to compete for world-scale LNG liquefaction trains continues to move forward with the completion of successive technical qualification, conducted by oil majors and engineering companies. To date, major LNG players, including ExxonMobil, Shell, Total, along with key engineering contractors such as Bechtel, have all completed extensive qualification studies on Mitsubishi Hitachi Power […]

  • Cairn updates on its proceedings against India

    by Oil and gas press -

    Under the UK-India Bilateral Investment Treaty (the “Treaty”) Cairn commenced proceedings against India in 2015 following retrospective taxation actions undertaken by the Indian Income Tax Department (“IITD”) in 2014. Final merits hearings for the arbitration concluded during 2018. Cairn’s claim under the Treaty is for monetary compensation of ~US$1.4 billion, the sum required to reinstate […]

  • Shell to Pay Fourth Quarter 2018 Euro and GBP Equivalent Dividend

    by Oil and gas press -

    The Board of Royal Dutch Shell plc (“RDS”) announced the pounds sterling and euro equivalent dividend payments in respect of the fourth quarter 2018 interim dividend, which was announced on January 31, 2019 at US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by […]

  • Eni signs up to the Startup Europe Partnership (SEP) platform

    by Oil and gas press -

    Eni has signed up to a pan-European open innovation platform, Startup Europe Partnership (SEP), led by international advisory firm Mind the Bridge. Launched in 2014 at the World Economic Forum in Davos, SEP’s aim is to create synergy between the best innovative start-ups in Europe by connecting them with big companies and the main international […]

  • ExxonMobil Supports “She Counts” program

    by Oil and gas press -

    ExxonMobil said today that it will provide about $5 million in grants to support local and global organizations dedicated to empowering women economically. New grants of $5 million support organizations that empower women economically More than $120 million in grants since ExxonMobil’s women’s initiative began in 2005 Company procures about $500 million a year from […]

  • Eni and COREPLA to produce hydrogen from waste

    by Oil and gas press -

    Eni signed an agreement with COREPLA, the National Consortium for the Collection, Recycling and Recovery of Plastic Packaging, to launch research projects to produce hydrogen from non-recyclable plastic packaging waste. The agreement was signed by Giuseppe Ricci, Eni Chief Refining & Marketing Officer, and Antonello Ciotti, President of COREPLA. It defines the joint working group […]

  • 20-year Gas Sales Agreement Signed between Pearl Petroleum and KRG

    by Oil and gas press -

    Pearl Petroleum Company Limited (“Pearl Petroleum”), the Consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government to enable production and sales of an additional 250 MMscf/day that the Consortium aims to produce by 2021 as part of their expansion […]

  • Saudi Aramco at Geneva International Motor Show

    by Oil and gas press -

    Saudi Aramco is participating in the Geneva International Motor Show for the first time to showcase a number of transport technologies that have the potential to significantly enhance efficiency and reduce carbon dioxide (CO2) emissions. This participation is in line with the Company’s active efforts to improve the efficiency of energy use in the transport […]

  • February 2019 Rig Counts

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for February 2019 was 1,027, up 3 from the 1,024 counted in January 2019, and up 48 from the 979 counted in February 2018. The international offshore rig count for February 2019 was 250, up 8 from the 242 counted […]

  • DEA extends Concessions in Egypt

    by Oil and gas press -

    DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez. At a formal ceremony event, witnessed by H.E. Eng. Tarek El-Molla the Egyptian Minister of Petroleum and Mineral Resources, DEA’s General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for […]

  • DEA’s Ogarrio field in Mexico gets approval

    by Oil and gas press -

    The Field Development Plan for DEA’s operated oil field Ogarrio Onshore Mexico has been approved by the National Hydrocarbons Commission (CNH). With the planned Ogarrio development, DEA aims to increase production and optimize operations of the mature oil field in the Mexican state Tabasco. Juan Manuel Delgado, Country Manager for DEA’s Mexican business, said: “This […]

  • Canadian Natural Announces 2018 Fourth Quarter and Year End Results

    by Oil and gas press -

    Net earnings of $2,591 million were realized in 2018, an increase of $194 million over 2017 levels. Adjusted net earnings of $3,263 million were achieved in 2018, a $1,860 million increase over 2017 levels. ANNUAL HIGHLIGHTS Cash flows from operating activities were $10,121 million in 2018, an increase of $2,859 million compared to 2017 levels. […]

  • ExxonMobil updates growth plans

    by Oil and gas press -

    ExxonMobil today said it has updated its growth plans and expects annual earnings potential to increase by more than 140 percent by 2025 from 2017 adjusted earnings, assuming an oil price of $60 per barrel and based on 2017 margins. Plans have upside potential in key growth areas, including Guyana and Permian On track to […]

  • Permian output to reach 1 million barrels per day by 2024

    by Oil and gas press -

    ExxonMobil said it has revised its Permian Basin growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. The size of the company’s resource base in the Permian is approximately 10 billion oil-equivalent barrels and […]

  • First-Ever Electronic Spot Auction of U.S. Crude Oil Export Cargo

    by Oil and gas press -

    CME Group today announced it completed the first successful spot auction of one crude oil export cargo of U.S. Gulf Coast light sweet crude oil. Seventeen global energy firms participated in the auction for crude sold by Enterprise Products Partners L.P. (Enterprise), available for delivery and export at its Enterprise Houston Ship Channel (EHSC) terminal. […]

  • Hess Announces Regular 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 March 29, 2019 to holders of record at the close of business on March 18, 2019. Hess Corporation is a leading global independent energy company engaged […]

  • Gazprom’s gas supplies to Austria grow by 32.9 per cent in early 2019

    by Oil and gas press -

    A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took place in Moscow. The parties reviewed current issues related to their cooperation, including the growth in gas exports to Austria. Between January 1 and March 5, 2019, the Company’s gas supplies to […]

  • Chevron Outlines Strategy for Growth

    by Oil and gas press -

    At its annual Security Analyst Meeting today, Chevron Corporation (NYSE: CVX) announced expectations for significant cash flow growth, disciplined spending, and expanding production over the next five years. “Chevron is in an exceptional position to deliver industry-leading value to shareholders,” said Michael Wirth, Chevron’s chairman and chief executive officer. “Our advantaged portfolio is driving strong […]

  • ENERGY NEWSTRACK TO 05/03/19

    by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $64.86 a barrel on Monday, 4 March 2019, compared with $65.32 the previous Friday, according to OPEC Secretariat calculations.. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • Three start-ups selected for Eni’s CallForGrowth open innovation initiative

    by Oil and gas press -

    Fluxedo, Nuvap and Inglobe are the Italian start-ups that Eni has chosen to explore the joint development of cutting-edge digital solutions in the fields of personal health and safety, service area improvements, and the integration of business manuals with digital twins. By collaborating with some of the best Italian start-ups, Eni accelerates its own digital […]

  • BP partners with Virent and Johnson Matthey on Virent’s Bioforming® process

    by Oil and gas press -

    BP, Virent Inc. and Johnson Matthey (JM) have signed an agreement that will further advance the commercialization of Virent’s Bioforming® process for production of bio-paraxylene (PX), a key raw material for the production of renewable polyester. Virent’s Bioforming® technology, which is being developed with JM, produces drop-in reformate product from renewable sources that can be […]

  • AITEO updates on fire accident in Nigeria

    by Oil and gas press -

    The Niger River Delta Nembe Creek No. 7 oil wells (Nembe Creek Well 7) near the (Nigerian Bayelsa state Mile 1 A suspected explosion occurred behind the Community. Despite the difficulties at the beginning, our action team was able to reach the wellhead area after the fire was completely extinguished in the early hours of […]

  • TechnipFMC completes remaining conditions with Middle East Oil Refinery

    by Oil and gas press -

    TechnipFMC (NYSE:FTI) (Paris:FTI) has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. As previously stated, this major(1) EPC contract covers the debottlenecking of existing units, the […]

  • Sweden proposes aviation greenhouse gas emission reduction target

    by Oil and gas press -

    Sweden has an ambitious target of being fossil-free by 2045. As a part of the initiative, a proposal for decarbonizing aviation in Sweden was announced today, on 4 March. The proposal suggests that Sweden would introduce a greenhouse gas reduction mandate for aviation fuel sold in Sweden. The reduction level would be 0.8% in 2021, […]

  • Oil discovery from Visund in the North Sea

    by Oil and gas press -

    Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 million barrels of recoverable oil. “We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf […]

  • Emerson to Support Permian Basin Oil and Gas Producers

    by Oil and gas press -

    Emerson (NYSE: EMR) today announced the opening of a new $4 million Permian Basin Service Center to bring enhanced oil and gas technologies and services to the fast-growing region. The technology center is the latest investment in Emerson’s efforts to guide customers on their path to digital transformation and train the workforce of the future. […]

  • ExxonMobil to expand Baton Rouge operations

    by Oil and gas press -

    ExxonMobil said today that it will fund the construction of a new polypropylene production unit in Baton Rouge that will expand production capacity along the Gulf Coast by up to 450,000 tons per year. Construction will begin in 2019 and startup is anticipated by 2021. The project is expected to create up to 600 jobs […]

  • ExxonMobil announce the appointment of Karen McKee as president of ExxonMobil Chemical Company

    by Oil and gas press -

    Exxon Mobil Corporation said today that John Verity, president of ExxonMobil Chemical Company, has elected to retire after 38 years of Service. The board of directors appointed Karen McKee, senior vice president for basic chemicals, integration and growth, to be president of ExxonMobil Chemical Company, effective April 1, 2019. McKee, 52, joined Exxon Chemical Company […]

  • Eni’s Syndial Signs agreement with Veritas to build a plant in Porto Marghera

    by Oil and gas press -

    Porto Marghera is born anew with circular economy: a Memorandum of Understanding between Syndial (Eni) and Veritas was signed today in Venice to jointly study the construction methods, in an abandoned and reclaimed area of the petrochemical plant at Porto Marghera, of an industrial plant that will transform the organic fraction of solid municipal waste […]

  • KBR awarded pre-FEED study contract

    by Oil and gas press -

    KBR Inc. announced that it has been awarded a pre front-end engineering design (pre-FEED) contract by Mexico Pacific Ltd (MPL) for a mid scale LNG liquefaction project in Puerto Libertad on Mexico’s Pacific coast. Under the contract, KBR will provide a pre-FEED and cost estimate for the project. The work will be carried out by […]

  • Akaso-15 Well Completed

    by Oil and gas press -

    San Leon Energy plc, announced on 10 December 2018 that Eroton, the operator of the OML 18 licence, onshore Nigeria, was preparing to spud the new well OSMU-1 in the Akaso field. The Company is pleased to announce that the Akaso-15 well (known as OSMU-1 prior to completion) has been drilled and completed, and connection […]

  • Investors Urged to Utilize Nigeria’s $48bn Oil & Gas Investment Opportunities

    by Oil and gas press -

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has called on investors to utilize the over $48billion investment opportunities available in the upcoming capital projects within Nigeria’s Oil and Gas Industry. He made this call while speaking at a Panel Session on the topic “Insights on Future Exploration Hotspots: […]

  • Natural gas discovery, offshore Cyprus

    by Oil and gas press -

    ExxonMobil said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well. Glaucus-1 well encounters a gas-bearing reservoir of approximately 436 feet (133 meters) Well is located in offshore Block 10 southwest of Cyprus in the Eastern Mediterranean Further evaluation of Block 10 potential continues The well, located […]

  • Africa Oil Announce Full Year 2018 Financial Results

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for three months and year ended December 31, 2018. The Company ended the year with cash of $370.3 million and working capital of $340.7 million in comparison to cash of $392.3 million and working capital of $436.3 million at the end […]

  • TechnipFMC Awarded EPCIC Contract

    by Oil and gas press -

    TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded by BP a large(1) contract for the engineering, procurement, construction, installation and commissioning (EPCIC) of the floating production storage and offloading (FPSO) unit to be deployed offshore on the maritime border of Mauritania and Senegal. This award is a continuation to the FEED (front end engineering design) contract […]

  • DPP preparing to prosecute Shell

    by Oil and gas press -

    OPL 245 – RDS plc informed of DPP preparing to prosecute We have been informed by the Dutch Public Prosecutor’s Office (DPP) that they are nearing the conclusion of their investigation and are preparing to prosecute Royal Dutch Shell plc for criminal charges directly or indirectly related to the 2011 settlement of disputes over Oil […]

  • Apache Announces Fourth-Quarter and Full-Year 2018 Financial Results

    by Oil and gas press -

    Apache Corporation (NYSE, Nasdaq: APA) today announced its financial and operational results for the fourth-quarter and full-year 2018. Apache reported a loss of $381 million or $1.00 per diluted common share during the fourth-quarter 2018. When adjusted for certain items that impact the comparability of results, including primarily the impact of asset impairments in the […]

  • Subsea 7 Wins offshore UK contract

    by Oil and gas press -

    Subsea 7 S.A. announced the award of a substantial contract by BP Exploration for the provision of subsea construction, inspection, repair and maintenance services covering BP’s North Sea region portfolio of assets West of Shetland and Northern North Sea. Under the terms of the five year agreement, i-Tech Services will provide a Life of Field […]

  • Rowan Announce Full-Year 2018 Results

    by Oil and gas press -

    For the quarter ended December 31, 2018, Rowan Companies plc (“Rowan” or the “Company”) (NYSE: RDC) reported a net loss of $14.3 million, or $0.11 net loss per diluted share, compared to net income of $112.0 million, or $0.89 net income per diluted share, in the fourth quarter of 2017. The net loss for the […]

  • BHP Announce Executive leadership Changes

    by Oil and gas press -

    BHP Chief Executive Officer, Andrew Mackenzie, today announced changes to the BHP Executive Leadership Team to reflect BHP’s simplified portfolio and transformation agenda. Joining the Executive Leadership Team are: Geraldine Slattery, President Operations Petroleum Vandita Pant, Chief Commercial Officer Jonathan Price, Chief Transformation Officer Laura Tyler, Chief Geoscientist They join Peter Beaven, Geoff Healy, Mike […]

  • Pátria Investimentos, Shell and Mitsubishi Hitachi Power Systems (MHPS) announce thermoelectric partnership

    by Oil and gas press -

    Pátria Investimentos, the Shell Group and Mitsubishi Hitachi Power Systems (MHPS) have announced the construction and operation of the Marlim Azul (Blue Marlin) gas-powered thermoelectric power plant in Macaé, Rio de Janeiro state in Brazil. The partnership includes construction of the power plant and the sale of its energy on both the regulated market, via […]

  • 67% of Equinor purchases was from Norwegian suppliers in 2018

    by Oil and gas press -

    In 2018 Equinor purchased goods and services worth NOK 141,7 billion from more than 9000 suppliers globally. NOK 95,2 billion of this went to suppliers with a Norwegian billing address, i.e. 67% of total purchases. “A competitive supply industry is highly important for the Norwegian continental shelf (NCS) and Equinor. Over the last year the […]

  • Exploration well completed in the southern Barents Sea

    by Oil and gas press -

    Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling of exploration well 7121/1-2 S, targeting the Pointer and Setter prospects in PL767 in the southern Barents Sea. Oil shows were encountered at various intervals in the Pointer prospect but the well is classified as […]

  • SAIPEM BOARD APPROVES 2018 DRAFT FINANCIAL STATEMENTS

    by Oil and gas press -

    “The results for 2018 are beyond expectations: the guidance is fully confirmed, EBITDA is higher than expected and, thanks to cash generation, net debt is falling. Over the course of the year we have redefined the objectives of Company repositioning, which are already demonstrating the appropriateness and timeliness of the strategic choices implemented. In particular, […]

  • Repsol Presents 2018 results

    by Oil and gas press -

    Repsol posted net income of 2.341 billion euros in 2018, a 10% increase from the 2.121 billion earned in 2017 and the highest in eight years. This was achieved with average Brent oil prices at 71 dollars per barrel last year, compared with more than 111 dollars in 2011. Adjusted net income, which specifically measures […]

  • Next-Generation Nuclear Power Plants in China

    by Oil and gas press -

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) announces that the steam turbine generation systems supplied for the Sanmen and Haiyang nuclear power plants in China have cleared all functional, safety confirmation, and other required performance tests. Full-fledged operations have already begun for Sanmen Unit 1 and Haiyang Unit 1, the first and second 1,250 megawatt (MW) […]

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