Latest Release

  • TOMTOM SELLS TELEMATICS BUSINESS TO BRIDGESTONE

    by Oil and gas press -

    Location technology specialist TomTom (TOM2) today announced the sale of its Telematics business to Bridgestone Europe NV/SA (“Bridgestone”), a subsidiary of Bridgestone Corporation in EMEA, for a purchase price of €910 million, and proposes to return the majority of the proceeds to its shareholders. This transaction allows the Telematics business to accelerate its growth trajectory […]

  • Backlog Could Trigger New Wave Of Shale Oil

    by Oil and gas press -

    The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow. The backlog of DUCs has continued to swell, […]

  • Cairn provides an update on its operations and trading performance

    by Oil and gas press -

    Oil and gas sales revenue was ~US$395m at an average realised price of US$68/boe (before hedging costs of US$1.34/boe) Average production cost was ~US$20 per boe Group cash at year end was US$66m Oil sales receivable at year end was US$39m Year end Norway exploration tax receivable was US$32m, with US$27m drawn under the Norway […]

  • World’s 3rd most sustainable company on the Global 100 list

    by Oil and gas press -

    Neste has placed 3rd on the Corporate Knights 2019 Global 100 Most Sustainable Corporations list. This is Neste’s second time in the top 3. It also marks the company’s 13th consecutive inclusion on the Global 100 list. Neste has been included on the list continuously for longer than any other energy company in the world. […]

  • Saudi Aramco and Dubai Electricity & Water Authority sign MoU

    by Oil and gas press -

    Saudi Aramco today signed a Memorandum of Understanding (MoU) with Dubai Electricity & Water Authority (DEWA) to foster collaboration in power supply and demand management. The MoU will also provide a framework to assess potential collaborations and ventures in new energy and smart grid applications, digital transformation, and operational excellence. “We look forward to our […]

  • Vår Energi AS (Eni 69.6%) awarded 13 licenses in Norway

    by Oil and gas press -

    Eni through Vår Energi, jointly owned by Eni (69.6%) and by HitecVision (30.4%), has been awarded a total of 13 licenses in the Awards in Predefined Areas 2018 (APA) by the Ministry of Petroleum and Energy of Norway (MPE). The company has been granted the following 4 operatorships and 9 partnerships in licenses covering all […]

  • SOCAR’s fertilizer plant now inaugurated

    by Oil and gas press -

    Neste Engineering Solutions has reached an important milestone with PMC (Project Management Consultant) project for SOCAR, the State Oil Company of the Azerbaijan Republic, in constructing a greenfield ammonia-urea fertilizer plant in Sumgayit, Azerbaijan. The inauguration of the SOCAR carbamide complex took place on 16th of January 2019 and was held by the President of […]

  • NNPC to Collaborate with African Transportation Union

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has sought effective collaboration with members of the African Union of Transportation and Logistics Organization to halt incidents of cross-border leakages of petroleum products. The corporation said smuggling of petroleum products remained a blight in the nation’s fuel supply and distribution matrix. NNPC Group Managing Director, Dr. Maikanti Baru, […]

  • Neste Shareholders’ Nomination Board’s proposal for the composition of Neste’s Board of Directors

    by Oil and gas press -

    The Shareholders’ Nomination Board, established by Neste Corporation’s Annual General Meeting (AGM) on 4 April 2013, proposes to the AGM to be held on 2 April 2019 that the company’s Board of Directors shall comprise the following members: The Shareholders’ Nomination Board proposes that Mr. Matti Kähkönen shall be re-elected as the Chair of the […]

  • Global alliance commits over USD$1.0 billion to end plastic waste

    by Oil and gas press -

    An alliance of global companies from the plastics and consumer goods value chain today launched a new organization to advance solutions to eliminate plastic waste in the environment, especially in the ocean. The cross value chain Alliance to End Plastic Waste (AEPW), currently made up of nearly thirty member companies, has committed over $1.0 billion […]

  • Global alliance for plastic waste end

    by Oil and gas press -

    Total today participates in the creation of an alliance of global companies from the plastics and consumer goods value chain to advance solutions to help end plastic waste in the environment, especially in the ocean. The cross value chain Alliance to End Plastic Waste, currently made up of nearly thirty member companies located throughout the […]

  • Gas and condensate discovery south of the Kristin field

    by Oil and gas press -

    Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well. Recoverable resources are estimated at 6-25 million barrels of oil equivalent. “We are pleased to start the new year by announcing a new discovery. Exploring for resources close to existing infrastructure […]

  • Tullow Oil plc – Trading Statement & Operational Update

    by Oil and gas press -

    Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2018. This is in advance of the Group’s Full Year Results, which are scheduled for release on Wednesday 13 February 2019. The information contained herein has not been audited […]

  • DEA awarded nine new licences in Norway

    by Oil and gas press -

    The Norwegian Ministry of Petroleum and Energy has awarded nine new licenses on the Norwegian Continental Shelf (NCS) to DEA in this year’s Awards in Predefined Areas (APA). Four of the awarded licences are located in the Norwegian Sea, three in the North Sea and two in the Barents Sea. DEA will be operator in […]

  • Equinor Gets 29 new licences on the Norwegian Continental Shelf

    by Oil and gas press -

    Equinor has been awarded 29 new licences by Norway’s Ministry of Petroleum and Energy as part of the Award in Predefined Areas (APA) for 2018 – 13 licences as operator and 16 as partner. “The APA rounds are important for Equinor to maintain exploration activity and replenish our portfolio on the Norwegian Continental Shelf (NCS). […]

  • Gullfaks partners Investing NOK 2.3 billion

    by Oil and gas press -

    The Gullfaks partners have decided to drill seven new wells and thereby improve oil recovery by 17 million barrels with good profitability. On behalf of the licence partners, Equinor’s executive vice president for Development and Production Norway, Arne Sigve Nylund, presented an amended plan for development and operation (PDO) to the minister of petroleum and […]

  • Heathrow to employ new Multimobby vehicles

    by Oil and gas press -

    The new electric vehicles are able to carry up to seven passengers through the terminals quickly, efficiently and safely, improving mobility through the airport. OmniServ, the UK’s leading airline and airport assistance services provider, and Heathrow Airport, are introducing a new multi-passenger electric vehicle – the Multimobby – which can carry up to seven people […]

  • BP and Eni Agree to work together in Oman

    by Oil and gas press -

    BP and Eni today signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards a significant new exploration opportunity in Oman. Under the HoA, the two companies will work with the Government of Oman towards the award of a new exploration and production […]

  • SDX Energy Announce Egypt Operations Update

    by Oil and gas press -

    SDX Energy Inc. (TSXV, AIM: SDX), provided an update on operational developments in Egypt. A full operations update will be announced in late January 2019. The SRM-3 well at South Ramadan (SDX 12.75% working interest and non-operator), reached a target depth of 15,635 feet and the operator has reported encountering 75 feet of net conventional […]

  • Shell and PGGM explore joint acquisition of Eneco

    by Oil and gas press -

    PGGM and Shell have joined forces to explore the opportunity to participate in the controlled auction for the sustainable energy provider Eneco. In December 2018 Eneco and its shareholders’ committee announced the start of the privatisation process. This consortium is impressed with Eneco’s achievements in transforming the Dutch energy system through investments in sustainability and […]

  • Eni signs new E&P Sharing Agreement in Oman

    by Oil and gas press -

    Eni and the state company Oman Oil Company Exploration and Production (OOCEP) have entered into an Exploration and Production Sharing Agreement (EPSA) for Block 47 with the Government of the Sultanate of Oman today. Block 47 is located onshore in the Omani A’Dakhiliyah Governorate and covers an approximate area of 8,524 sqkm. The Block was […]

  • Eni signs new MoU in Bahrain

    by Oil and gas press -

    A Memorandum of Understanding (MoU) has been signed today between the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and Eni with the aim to pursue petroleum exploration of Block 1, an offshore area of over 2,800 km2 still largely unexplored, located in the northern territorial waters of the Kingdom of Bahrain […]

  • Eni expands its presence in UAE

    by Oil and gas press -

    Eni signed today in Abu Dhabi two Concession Agreements for the acquisition of a 70% stake in the Offshore Block 1 and Offshore Block 2 exploration areas for a duration of 35 years, leading a consortium including Thailand’s PTT Exploration and Production Company Limited (PTTEP) with the remaining 30% stake. The two blocks, located in […]

  • TransCanada plans name change

    by Oil and gas press -

    TransCanada Corporation has announced its intention to change its name to TC Energy to better reflect the scope of the company’s operations as a leading North American energy infrastructure company. TransCanada’s shareholders will be asked to approve a special resolution to change the name at the company’s next Annual and Special Meeting of Shareholders. “TC […]

  • Equinor completes acquisition of Rosebank project

    by Oil and gas press -

    Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf. Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production during the first half […]

  • Aramco service stations to open in Saudi Arabia

    by Oil and gas press -

    In the not-too-distant future, drivers will pull up to Aramco service stations in the Kingdom, and the experience will be a new one. The fuel pumps will be modern and self-serve, if the driver so chooses, with the option of paying with a credit or debit card. A convenience store and a well-recognized restaurant will […]

  • New Appointment at Total

    by Oil and gas press -

    Brendan Warn Is Appointed Senior Vice-President, Investor Relations of Total, effective January 1, 2019. He succeeds Mike Sangster. Prior to joining Total, Brendan was Managing Director and UK Head of Equity Research at BMO Capital Markets in London. Brendan has more than 13 years of experience in equity research across three investment banks including Macquarie […]

  • BP to expand its presence in Korea

    by Oil and gas press -

    BP and Lotte have agreed a major expansion of production capacity at their joint venture Lotte BP Chemical Company Limited facility in Ulsan, South Korea. The expansion is expected to add 100,000 tonnes a year (tpa) of acetic acid capacity by May 2019 through debottlenecking, and to double the current 200,000 tpa vinyl acetate monomer […]

  • Dolphin Drilling and i3 Energy sign letter of intent (LOI)

    by Oil and gas press -

    Dolphin Drilling Ltd., a subsidiary of Dolphin Drilling ASA, has entered into a LOI with i3 Energy for a three-well appraisal and development drilling programme in the UK North Sea, using the semi-submersible drilling rig Blackford Dolphin or Borgland Dolphin. The program is scheduled to commence June 2019, and is estimated to 94 days. Source […]

  • DEA Deutsche Erdoel AG turns 120

    by Oil and gas press -

    The oil and gas production company DEA Deutsche Erdoel AG turned 120 years today. DEA is one of the most long-standing E & P companies in the world and was one of the first players at the dawn of the commercial oil production era. In Germany, DEA has provided important economic stimulus and made a […]

  • CTA Announces $10 Million Fund Commitment to Women, Diverse Founders

    by Oil and gas press -

    The Consumer Technology Association (CTA) announced at CES® – the world’s largest and most influential tech event – that CTA will invest $10 million in venture firms and funds focused on women, people of color and other underrepresented startups and entrepreneurs. “To continue to evolve and grow, the tech industry needs more equal access to […]

  • ExxonMobil and IBM partner to Advance Energy Sector Application of Quantum Computing

    by Oil and gas press -

    ExxonMobil said that it has signed a partnership agreement with IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies. The new partnership was formally announced during the 2019 Consumer Electronics Show (CES) in Las Vegas. As part of the agreement, ExxonMobil becomes the first energy company to join […]

  • Total Announce Results of the option to receive the 2018 second interim dividend in shares

    by Oil and gas press -

    The Board of Directors of Total S.A. met on December 12, 2018, and declared a 2018 second interim dividend of €0.64 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of June 1st, 2018, the option for shareholders to receive the 2018 second interim dividend in cash […]

  • TechnipFMC Awarded iEPCI™ Contract

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Atlantis Phase 3 project worth between $75 million and $250 million. Following final investment decisions from all partners, TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and […]

  • BP approves Atlantis expansion

    by Oil and gas press -

    Atlantis Phase 3 will include the construction of a new subsea production system from eight new wells that will be tied into the current platform, 150 miles south of New Orleans. Scheduled to come onstream in 2020, the project is expected to boost production at the platform by an estimated 38,000 barrels of oil equivalent […]

  • BP plans for significant growth in deepwater Gulf of Mexico

    by Oil and gas press -

    BP announced today that it has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region. The $1.3 billion Atlantis Phase 3 development is the latest example of […]

  • TechnipFMC and MMHE Sign Offshore Agreement with Saudi Aramco

    by Oil and gas press -

     TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982), in consortium with MMHE (Malaysia Marine and Heavy Engineering Sdn Bhd), has signed a Long-Term Offshore Agreement with Saudi Aramco. This agreement, valid for 6 years, covers engineering, procurement, fabrication, transportation and installation of offshore facilities for the development of Saudi Aramco’s offshore projects. This agreement builds on the long-term relationship between TechnipFMC and […]

  • Offshore Energy UK Limited Announces Launch of New Website

    by Andrew Nussbaum -

    Offshore Energy UK Limited, (https://www.oel-uk.com) a leading provider of project management, engineering and lifting management to the oil & gas, subsea telecommunications and renewables industries announced today the launch of its newly designed website . “We are pleased to debut the newly designed company website, which is part of a strategy to improve our digital […]

  • C-Kore supports Shell with subsea testing in the North Sea

    by Oil and gas press -

    C-Kore Systems recently deployed their Cable Monitor subsea testing units in the North Sea to monitor the installation of a new umbilical in Shell’s Nelson field. The health of the umbilical was constantly monitored and data-logged during the entire installation process from load-out to lay. This gave constant assurance that the cable remained in good […]

  • Shell starts production at new petrochemicals unit in US Gulf Coast

    by Oil and gas press -

    Successful completion of major expansion project makes Shell’s Geismar chemicals manufacturing site the largest producer of alpha olefins in the world. Shell Chemical LP (Shell) today announced the start of production of the fourth alpha olefins (AO) unit at its Geismar, Louisiana, USA chemical manufacturing site. The 425,000-tonne-per-year capacity expansion brings total AO production at […]

  • Digital operations support centres to boost production

    by Oil and gas press -

    In just a few months the support centres established to help create higher value, improve safety and reduce emissions from Equinor’s installations on the Norwegian continental shelf (NCS) have led to good results from the first onshore-supported fields. Today, 7 January 2019, two centres will be formally opened at Sandsli in Bergen by the petroleum […]

  • Hess Update on Drilling and Development Activities Offshore Guyana

    by Oil and gas press -

    Hess Corporation (NYSE: HES) said today that drilling has begun on the Haimara-1 exploration well offshore Guyana, the first of two planned exploration wells in January. The Stena Carron drillship is drilling the Haimara-1 well, located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeastern part of the Stabroek Block. The Noble […]

  • Oil Is At The Mercy Of Financial Markets

    by Oil and gas press -

    Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 percent by midday in New York, but come largely after U.S. equity markets shook […]

  • Eni acquires 70% of the Oooguruk oil field in Alaska

    by Oil and gas press -

    Eni enters into agreement to acquire 70% and operatorship of the Oooguruk oil field in Alaska from Caelus Natural Resources Alaska LLC. Eni already owns the remaining 30% working interest. The agreement is subject to the approval of the authorities and to certain closing conditions. The Oooguruk oil field, located in the Beaufort Sea approximately […]

  • Tullow Announce Total Voting Rights

    by Oil and gas press -

    In conformity with the FCA’s Disclosure Guidance and Transparency Rules, Tullow Oil plc today announces the following: As at Monday 31 December 2018, Tullow Oil plc’s issued share capital consists of 1,393,439,716 ordinary shares (with a nominal value of 10p each) with voting rights. No ordinary shares are held in treasury. Therefore, the total number […]

  • Nigeria Records 9% Increase in Daily Crude Oil Production in 2018

    by Oil and gas press -

    Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in outgone 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels. Pitched against the low-level daily crude oil production in 2016 and what obtains now, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, […]

  • DEA Sells gas storage facilities in Bavaria

    by Oil and gas press -

    DEA Deutsche Erdoel AG sold three underground natural gas storage facilities operating in southern Bavaria to Slovak NAFTA a.s., a company of the EPH Group, with effective transaction date of January 1st 2019. NAFTA will continue DEA’s successful activities in the natural gas storage business. Wolfersberg gas storage facility has been in operation since 1973, […]

  • Total Starts Up Production of Egina Field

    by Oil and gas press -

    Total has started up production on December 29, 2018 from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At plateau, the Egina field will produce 200,000 barrels of oil per day, which represents about 10% of Nigeria’s production. The Floating Production Storage and Offloading (FPSO) […]

  • DNO’s Offer substantially undervalues Faroe by 48 per cent

    by Oil and gas press -

    Independent expert’s asset valuation highlights the inadequacy of DNO’s Offer The Board of Faroe (the “Board”, “we”) announces that it is today publishing an independent current valuation report on Faroe’s assets which implies a valuation for Faroe in the range of 186p to 225p per share1. This independent valuation report clearly highlights the inadequacy of […]

  • Faroe Announce Results of Brasse East Exploration well

    by Oil and gas press -

    Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces the results of the Brasse East exploration well 31/7-3 S and the Brasse appraisal sidetrack 31/7-3 A in the northern North Sea (Faroe 50% working interest and operator). The Brasse East exploration well […]

  • Gazprom Neft and Repsol establish a joint venture

    by Oil and gas press -

    Gazprom Neft and Repsol have established a joint venture to undertake geological exploration in the Karabashsky zone of the Khanty-Mansi Autonomous Okrug-Yugra. The partners have jointly acquired a 100-percent interest in ASB Geo LLC, which holds the exploration license for the Karabashsky 10 block in the Khanty-Mansi Autonomous Okrug. Pursuant to the Shareholders’ Agreement, the […]

  • Transocean Ltd. Announces 5-Year $830 Million USD Drilling Contract

    by Oil and gas press -

    Transocean Ltd. (NYSE: RIG) announced that it has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA, Inc. (“Chevron”) for one of its two dynamically positioned ultra-deepwater drillships (“the drillship”) currently under construction at the Jurong shipyard in Singapore. The drilling contract has an estimated backlog […]

  • Statement regarding Guyana drilling

    by Oil and gas press -

    ExxonMobil said that drilling and development operations offshore Guyana are unaffected by an incident involving seismic acquisition vessels on Saturday. Two vessels operated by Petroleum Geo-Services ceased conducting 3-D seismic data acquisition in the northwest portion of the Stabroek Block offshore Guyana when approached by the Venezuela navy. The area where the incident occurred is […]

  • Rovuma LNG Project, Mozambique

    by Oil and gas press -

    Area 4 co-venture participants have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partners, a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project. Area 4 participants are ExxonMobil, Eni, the China National Petroleum Corporation, […]

  • NNPC Records Trading Surplus of ₦9.85Billion

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure which is higher than the previous month’s deficit of ₦3.90 billion. Details of the report which is contained in the newly released September 2018 edition of the NNPC Monthly Financial and Operations Report indicated […]

  • Syndial pilot plant in Gela begins transforming organic municipal waste into bio-oil

    by Oil and gas press -

    Syndial, Eni’s environmental services company, begins operating at its pilot plant at the the Gela refinery. The plant transforms Organic Fraction of Municipal Solid Waste (OFMSW) by recycling it into bio-oil, which can then be used to produce next-generation fuels. The plant represents the first milestone in a process driven by Eni’s own research and […]

  • Total to acquire two gas power plants from Uniper France’s portfolio

    by Oil and gas press -

    Following the transaction announced between Uniper France and EPH, that remains subject to approval by the relevant authorities, Total confirms that it has signed an agreement with EPH to acquire as from 1 January 2020 the two gas power plants from Uniper France’s portfolio which represent a capacity of 828 MW. This transaction is in […]

  • Shell completes sale of its New Zealand entities

    by Oil and gas press -

    Royal Dutch Shell plc (Shell) has completed the sale of its shares in Shell entities in New Zealand, to OMV for $578 million. This includes the Māui, Pohokura, and Tank Farm assets, and the sale of Shell’s interest in (and operatorship of) the Great South Basin venture, which was subject to a separate agreement. The […]

  • Equinor sells two non-core NCS assets

    by Oil and gas press -

    Equinor has completed the sales of two non-core discoveries on the Norwegian Continental Shelf (NCS) that were both announced in October 2018. The first sale, of a 77.8% operated interest in the King Lear discovery to Aker BP, was for a total of USD 250 million. The second, of non-operated interests of 42.38% in the […]

  • BP restructures U.S. Wind Energy business

    by Oil and gas press -

    BP has divested three wind energy operations in Texas as part of a broader restructuring designed to optimize its U.S. wind portfolio for long-term growth. The three wholly-owned BP wind facilities –Silver Star (60MW generating capacity), Sherbino Mesa 2 (145MW) and Trinity Hills (225 MW) — were purchased by funds managed by affiliates of Ares […]

  • BP announces FID for Phase 1 of the Greater Tortue Ahmeyim LNG Development

    by Oil and gas press -

    BP and partners today announced that the Final Investment Decision (FID) for Phase 1 of the innovative cross-border Greater Tortue Ahmeyim development has been agreed. The decision was made following agreement between the Mauritanian and Senegalese governments and partners BP, Kosmos Energy and National Oil Companies Petrosen and SMHPM. “Achieving sanction for the ground-breaking Greater […]

  • U.S Interest Rate Hike Hits Oil Hard

    by Oil and gas press -

    Oil prices have been slammed over the past week, dragged down by a variety of forces, including soaring U.S. shale production, higher-than-expected output from Russia, and worries about global demand. On Wednesday, the U.S. Federal Reserve decided to pile on. The central bank hiked interest rates by a quarter-point yet again, the fourth time this […]

  • Total To Launch a Fuel Retail Network with Sonangol

    by Oil and gas press -

    Total has agreed to develop joint activities in the downstream petroleum sector in Angola, with national company Sonangol. Already long-term partners in the upstream business, the two companies have decided to establish a Joint Venture company to develop a common retail and distribution activity in the country, the fourth largest market in sub-Saharan Africa. While […]

  • Total and Petrobras Announce Progress in their Strategic Alliance

    by Oil and gas press -

    Total and Petrobras announced that they have achieved significant progress in the scope of their Strategic Alliance, signed in March 2017: The first concrete results of jointly implemented R&D projects. Examples of such work include in particular: – With regard to artificial intelligence: new automatic techniques to identify geological faults, leading to significant efficiency gains. […]

  • Grozny TPP comes onstream

    by Oil and gas press -

    A commissioning ceremony for Power Unit No. 1 of the Grozny Thermal Power Plant (TPP) took place today in Grozny. Taking part in the event were Valery Golubev, Deputy Chairman of the Gazprom Management Committee, Alexander Matovnikov, Presidential Plenipotentiary Envoy to the North Caucasus Federal District, Ramzan Kadyrov, Head of the Chechen Republic, Denis Fyodorov, […]

  • Africa Oil Announces Additional Investment in Impact Oil and Gas

    by Oil and gas press -

    Africa Oil Corp. (TSX: AOI) (OMX: AOI) (“Africa Oil”, “AOC” or the “Company”) announced that it has made further investments of US$20.5 million in Impact Oil and Gas Limited (“Impact”), a private UK company with exploration assets in South and West Africa. Additional Investment in Impact Oil and Gas The Company has entered into a […]

  • ExxonMobil Named 2018 Large Cap Company of the Year and Explorer of the Year

    by Oil and gas press -

    ExxonMobil said today that it has been named 2018 Large Cap Company of the Year and Explorer of the Year by the World Oil and Gas Council in recognition of excellence and innovation in the global energy industry. Brad Corson, president of ExxonMobil Upstream Ventures, accepted the award for Large Cap Company of the Year. […]

  • BP and SOCAR explore the creation of a new petrochemicals joint venture in Turkey

    by Oil and gas press -

    BP and SOCAR Turkey announced that they have signed a heads of agreement (HoA) to evaluate the creation of a joint venture that would build and operate a world-scale petrochemicals complex in Turkey. The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tonnes per annum (tpa) of purified terephthalic acid (PTA), 840,000 […]

  • Eni and Vatican City State Sign Agreement to promote the circular economy

    by Oil and gas press -

    Eni and the Governorate of the Vatican City State have signed an agreement for the circular economy. S.E.R. Mons. Fernando Vérgez Alzaga, Secretary General of the Governorate of the Vatican City State and Giuseppe Ricci, Chief Refining & Marketing Officer of Eni, today signed a collaboration agreement for the use of high-quality biodiesel with a […]

  • Canadian government announces support for workers in oil and gas sector

    by Oil and gas press -

    The Government of Canada announced more than $1.6 billion to support jobs and workers in Canada’s oil and gas sector, as Canada seeks to diversify export markets for its resources beyond the United States. These measures will support workers and their families, foster competitiveness and improve the long-term environmental performance of the oil and gas […]

  • Diesel R33 enables CO2 savings of at least 20 percent

    by Oil and gas press -

    An extensive trial involving an innovative fuel that enables CO2 savings of at least 20 percent, compared to conventional fossil diesel, has been successfully completed. Over a period of nine months, employees at Volkswagen in Wolfsburg filled company vehicles exclusively with Diesel R33. Following the successful test phase, Diesel R33 is now being used at […]

  • New policy for U.S. LNG exporters

    by Oil and gas press -

    The U.S. Department of Energy (DOE) announced that it would now only require U.S. LNG exporters to report the country or countries of LNG deliveries, not country of end-use, to satisfy the DOE’s destination reporting requirement. Further, DOE announced additional efforts to streamline the reporting requirements for LNG export supply sales and contracts. “With the […]

  • · Executive Board decision brings total IMF disbursements to Gabon to about US$395.9 million.

    by Oil and gas press -

    The government’s reform program, supported by the IMF, aims to restore macroeconomic stability and lay the foundation for inclusive growth. On December 19, 2018, the Executive Board of the International Monetary Fund (IMF) completed the third review of Gabon’s economic program supported by an extended arrangement under the Extended Fund Facility [1] . Completion of […]

  • Large order for Johan Sverdrup highlights the benefits of the PG/Calder relationship

    by Oil and gas press -

    The acquisition of Calder by PG Flow Solutions in 2015 combined both the product and project knowledge gained by our companies over many years of supply to the North Sea energy sector. This, coupled with the flexibility of having two design and build facilities, gives us a technical and commercial advantage along with increased manufacturing […]

  • ADNOC Awards Austria’s OMV 5% Stake in Ghasha Offshore Ultra-Sour Gas Concession

    by Oil and gas press -

    The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria’s OMV a 5 percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields. OMV, which joins Italy’s Eni and Germany’s Wintershall as ADNOC’s partners in the concession, will contribute […]

  • Saipem Awarded new Onshore E&C contract

    by Oil and gas press -

    Saipem, in Joint Venture with Renaissance, a Turkish oil & gas services company, has been awarded a new Onshore E&C project in the Russian Federation worth 2.2 billion Euro overall. As leader of the JV, with a shareholding of 50%, Saipem’s portion of the total amount is therefore approximately 1.1 billion Euro. The contract has […]

  • Petrofac Announce Trading update

    by Oil and gas press -

    Petrofac issues the following pre-close trading update ahead of the announcement of its full year results for year ending 31 December 2018 on 28 February 2019. Trading in line with expectations New order intake(1) of US$5.0 billion in the year to date Net debt is expected to be around US$250 million at 31 December 2018 […]

  • Petrofac secures contract with Petroleum Development Oman

    by Oil and gas press -

    Petrofac has been awarded a contract worth around US$115 million for the development of the Qarn Alam Co-Generation Project, located 350 kilometres southwest of Muscat, Oman. This is the latest in a series of awards for Petrofac in Oman and the second to be secured under a landmark 10-year Framework Agreement with Petroleum Development Oman […]

  • Petrofac awarded Ithaca construction and commissioning contract

    by Oil and gas press -

    Petrofac’s Engineering and Production Services (EPS) business has secured a construction and commissioning contract with Ithaca Energy (UK) Limited (Ithaca) valued in the region of US$10 million. Under the terms of this reimbursable contract, Petrofac will be responsible for the topsides construction and commissioning works that are to be undertaken on the Ithaca-operated FPF-1 floating […]

  • Eni announces Gas discovery in the Indonesian offshore

    by Oil and gas press -

    Eni successfully drilled and tested the Merakes East prospect in East Sepinggan block, Offshore Kalimantan, Indonesia. The prospect is located 33 km south east from the Eni-operated Jangkrik field and just 3 km east of the Merakes Field. The well has been drilled to a depth of 3,400 m MD in 1,592 m of water […]

  • Statement by IMF Managing Director at the Conclusion of a Visit to Ghana

    by Oil and gas press -

    Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Accra at the conclusion of her visit to Ghana: “My visit to Accra has been very fruitful and informative, and I am extremely grateful for the warm hospitality of the people of Ghana. “I wish to thank President […]

  • MHPS Completes Handover for Turbine Generation Facilities in China

    by Oil and gas press -

    Mitsubishi Hitachi Power Systems, Ltd. (MHPS) announces that the steam turbine generation facilities supplied for the Haiyang Nuclear Power Plant in China have cleared all functional, safety confirmation, and required performance tests, and a handover was made on December 11. Operations at the plant have begun, making it the second site with a 1,250 megawatt […]

  • Aramco and Saudi Information Technology Company sign MOU establishing a JV

    by Oil and gas press -

    Saudi Aramco and the Saudi Information Technology Company signed a Memorandum of Understanding (MoU) for the creation of an Information and Communication Technology Investment Company; a joint venture (JV) to invest in commercial enterprises in the information, communication and technology sector. The focus of the new JV will be on opportunities with significant potential for […]

  • Big Oil Stocks Crash As Crude Prices Tumble

    by Oil and gas press -

    Shares in the largest oil companies in Europe dropped to their lowest level in eight months on Tuesday, dragged down by across-the-board equity sell-offs in global markets and tumbling oil prices due to fears of oversupply and slowing economic growth. Shares in Shell, Total, Eni, and Equinor were all down in the early afternoon in […]

  • Shale Under Pressure As Oil Falls Below $50

    by Oil and gas press -

    The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about the heady production figures expected from the shale patch. The IEA expects U.S. oil […]

  • Total’s R&D Department in Heart of Paris-Saclay Cluster from 2019

    by Oil and gas press -

    During his visit to the Ecole polytechnique cluster at Paris-Saclay to inaugurate the Ile-de-France Photovoltaic Institute (IPVF) and sign the Trend-X chair, Patrick Pouyanné, Chairman & Chief Executive Officer of Total, announced the planned opening of a new research & innovation centre in the heart of Ecole Polytechnique cluster at Saclay. In 2019, the management […]

  • Wood wins $66 million framework Contract

    by Oil and gas press -

    Wood has won a contract to supply programmable digital control technologies to the Sellafield nuclear site in Cumbria, UK. The 10-year framework, worth $66 million, covers all stages of system design, manufacture and assembly of equipment, obsolescence management and maintenance support to project work and decommissioning carried out by Sellafield Ltd. The contract will help […]

  • ScanOcean to resell Neste’s low-sulfur bunker fuel in Sweden

    by Oil and gas press -

    Neste and ScanOcean AB enter into cooperation in delivering Neste’s low-sulfur marine fuel. ScanOcean AB is now an official reseller for Neste’s 0.1% marine fuel products on the East Coast of Sweden. The low-sulfur marine fuel is one of Neste’s high quality products. “The re-seller partnership with ScanOcean is part of our marine fuel strategy […]

  • CNOOC Signs Agreements with 9 International Oil Companies

    by Oil and gas press -

    CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL (in alphabetical order). According to the agreements, the Strategic Cooperation […]

  • Qatar Petroleum to acquire interest in three offshore oil Fields in Mexico

    by Oil and gas press -

    Qatar Petroleum entered into an agreement with Eni to acquire a 35% participating interest in three offshore oil Fields in Mexico. The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay. The agreement is subject to customary regulatory approvals by the government of Mexico. Following […]

  • Sonangol and BP to advance BP’s activities in Angola

    by Oil and gas press -

    Angola’s Sonangol and BP today signed an agreement to progress to final investment decision the development of the Platina field in deepwater Block 18, offshore Angola. They also agreed to extend the production licence for the BP-operated Greater Plutonio project on Block 18 to 2032, subject to government approval, and for Sonangol to take an […]

  • Eni approves investment plan for Merakes Development Project in Indonesia

    by Oil and gas press -

    Eni will start with the execution of the Merakes Development Project in Indonesia following the approval received by the Minister of Energy of Indonesia and the authorization for the investment plan sanctioned by the company’s Board of Directors. The Merakes development project, located in the Kutei Basin, offshore East Kalimantan, consists in the drilling and […]

  • Wentworth to Relinquish Tembo Block Appraisal Licence

    by Oil and gas press -

    Wentworth, the Oslo Stock Exchange (OSE: WEN) and AIM (AIM: WEN) announced that further to its announcement dated 3 October 2018, it intends to relinquish the Tembo block with a planned effective date of 30 April 2019 ahead of the end of the current appraisal term on 15 June 2019. The Company will also exit […]

  • Golar LNG receives LNTP from BP

    by Oil and gas press -

    Golar LNG Limited announced today that it has received a Limited Notice to Proceed (“LNTP”) from BP Mauritania Investments Ltd and BP Senegal Investments Ltd, (together “BP”) in their capacity as block operators, in respect of the provision of a Floating Liquefaction Vessel (” FLNG”) to support the development of Phase 1 of the Greater […]

  • Cuadrilla Halts Fracking Operations in UK

    by Oil and gas press -

    “A series of micro seismic events in Blackpool have been recorded on the British Geological Survey (BGS) website today 14 December. The largest recorded was 0.9ML (local magnitude) at about 2pm. This occurred whilst we were hydraulically fracturing at the Preston New Road exploration site. “Detected by Cuadrilla’s sophisticated monitoring system, and verified by the […]

  • Sonangol EP And ExxonMobil Sign MoU

    by Oil and gas press -

    Sonangol EP and ExxonMobil Corporation, signed a Memorandum of Understanding defining the intention of signing the risks with service contracts , for Blocks 30, 44 and 45 of the Namibe Basin. Carlos Saturnino and Andre Kostelnik, Chairman of the Board of Directors of Sonangol EP and General Manager of ExxonMobil in Angola, respectively, were the […]

  • Final Investment Decision to Develop West Barracouta Gas Project

    by Oil and gas press -

    ExxonMobil said that it has made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin. The company recently completed front-end […]

  • Tower Announce Cameroon Drilling Contract

    by Oil and gas press -

    Tower Resources plc (the “Company” or “Tower” (TRP.L, TRP LN)), announced that its wholly owned subsidiary, Tower Resources Cameroon S.A, signed a contract with Vantage Drilling International (“Vantage”) for the Topaz Driller jack-up rig (“Topaz Driller”) to provide drilling operations for the NJOM-3 well which is planned for Tower’s 100% owned and operated Thali licence, […]

  • Aasta Hansteen on stream

    by Oil and gas press -

    On 16 December Equinor and its partners started production from the Aasta Hansteen gas field in the Norwegian Sea. Today, 17 December gas from the Aasta Hansteen field is available to the market for the first time and together with the Polarled pipeline the field opens a new region for gas export to Europe. “Aasta […]

  • Senegal Update: SNE development commence FEED activities

    by Oil and gas press -

    Woodside advises that the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture1 has agreed to commence front-end engineering and design (FEED) activities following the award of the subsea FEED contract to Subsea Integration Alliance2 for the SNE Field Development-Phase 1 (SNE development) offshore Senegal. Further FEED contracts are targeted to be awarded […]

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