Latest Release

  • Climate Change Case Against Chevron Dismissed

    by Oil and gas press -

    The U.S. District Court for the Southern District of New York today granted Chevron Corporation’s Motion to Dismiss the climate change lawsuit filed against it by the City of New York. This decision follows the June 25th order by the U.S. District Court for the Northern District of California, which dismissed substantively identical complaints that […]

  • TechnipFMC Awarded Contract by Hindustan Petroleum

    by Oil and gas press -

    TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a substantial(1) contract by the state-owned Hindustan Petroleum Corporation Ltd. (HPCL) for a grassroot Hydrogen Generation Unit (HGU). The project is part of the brownfield expansion for HPCL’s Visakh Refinery Modernization Project located in Visakhapatnam, in the state of Andhra Pradesh in India. The contract covers project management, […]

  • PTTEP divests its stake in Montara field

    by Oil and gas press -

    As part of portfolio rationalization, PTTEP announces the divestment of a 100% stake in the Montara field to align with the company’s business strategy aimed to focus on the operations and projects in the strategic locations. Somporn Vongvuthipornchai, PTTEP Chief Executive Officer, said PTTEP Australasia (Ashmore Cartier) Pty Ltd, PTTEP’s subsidiary, has signed the Agreement […]

  • ADNOC Awards US $1.6bn Contracts to CNPC Affiliate

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its […]

  • Devon Energy Completes Sale of Ownership Interests in EnLink Midstream

    by Oil and gas press -

    Devon Energy Corp. (NYSE: DVN) announced today it has completed the sale of its ownership interests in EnLink Midstream Partners, LP (NYSE: ENLK) and EnLink Midstream, LLC (NYSE: ENLC) for $3.125 billion to affiliates of Global Infrastructure Partners (GIP), a leading global, independent infrastructure fund manager. With the closing of this transaction, the financial results […]

  • Naftogaz discloses extracts from the arbitration award

    by Oil and gas press -

    Naftogaz published some provisions on the issue contained in the Award issued by the Arbitration Institute of the Stockholm Chamber of Commerce on 28 February 2018. Naftogaz sought in arbitration, inter alia, amending the gas transit contract to the effect that Naftogaz be allowed to assign its rights and obligations under the contract, without the […]

  • GE, Lagos State Government Sign Agreement on Power, Healthcare

    by Oil and gas press -

    GE (NYSE: GE), and the Lagos State Government in Nigeria have agreed to pool their resources for the development of critical infrastructure in the state in the areas of Power, Healthcare and Skills Development. This was announced during the signing of a Support and Cooperation Agreement by both parties during the France-Nigeria Business Forum held […]

  • FRONTIER EXPLORATION LICENCE 2/14 SOUTHERN PORCUPINE BASIN

    by Oil and gas press -

    Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, provides a Licence Update on Frontier Exploration Licence (“FEL”) 2/14. Providence confirmed that, having received approval from the Minister of State at the Department of Communications, Climate Action and Environment, the farm-out comprising the assignment of equity (35%) and transfer […]

  • TSE , Petrofac joint venture secures services contract in Turkey

    by Oil and gas press -

    Petrofac, in a joint venture (JV) with Turkish Standards Institution (TSE), has secured a three-year multi-million dollar Project Management Consultancy (PMC) services contract in support of the BOTAŞ North Marmara Underground Gas Storage Expansion Project (Phase III) in Turkey. The existing facility, located approximately 60 kilometres west of Istanbul, has been in operation since 2007 […]

  • Woodside Achieved 100% reliability at Pluto LNG

    by Oil and gas press -

    CEO Peter Coleman said the start up of LNG production from Wheatstone Train 2 was the highlight of the period, which also saw another strong quarter of performance at Pluto. “Since starting up in June, Wheatstone Train 2 has achieved high production rates, building on the continuing operational success at Train 1. Output from Wheatstone, […]

  • First Yamal cargoes arrive in China

    by Oil and gas press -

    PAO NOVATEK (“NOVATEK” and/or the “Company”) has shipped its first cargos of liquefied natural gas (LNG) from the Yamal LNG project to China via the Northern Sea Route. Today, in the presence of Alexander Novak, the Minister of Energy of Russia and Nur Bekri, the Director of the National Energy Administration of China, an official […]

  • Eni and ENEA sign partnership agreement

    by Oil and gas press -

    Eni and ENEA have signed a partnership to start research in strategic scientific and technological areas which have considerable potential impact for the Country, including the circular economy, alternative energy and environmental protection. The Memorandum of Understanding was signed by the Chairman of ENEA, Federico Testa, and the CEO of Eni, Claudio Descalzi, at the […]

  • Eni and SONATRACH strengthen cooperation in Algeria

    by Oil and gas press -

    The Chairman and General Director of the Algerian state company SONATRACH, Abdelmoumem Ould Kaddour, and the Chief Executive Officer of Eni, Claudio Descalzi, signed an agreement that represents a further step towards the strengthen of their partnership in the Berkine basin. In combination with the existing assets of BRN (block 403) and MLE (block 405b), […]

  • CNRL Announces 1 Billion Barrel Production Milestone

    by Oil and gas press -

    Canadian Natural Resources Limited (“Canadian Natural”), as operator of the Jackpine and Muskeg River mines at the Athabasca Oil Sands Project (“AOSP”), announced that the AOSP has achieved a mined production milestone of 1 billion barrels since operations began in 2003. Canadian Natural’s President Tim McKay stated, “This is a significant milestone and demonstrates the […]

  • Equinor’s share saving plan allocates shares

    by Oil and gas press -

    The shares purchased by DNB on behalf of Equinor (OSE: EQNR, NYSE: EQNR) on 13 July 2018 for use in the group’s Share Saving Plan have on 18 July 2018 been distributed to the employees in accordance with their savings amount. Following this, the share saving plan has 9,300,409 shares. Source / More : Equinor […]

  • Saudi Aramco, KOTRA sign MoU

    by Oil and gas press -

    Saudi Aramco recently signed a comprehensive Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA) to facilitate closer business cooperation under the framework of Saudi Vision 2030. The MoU was signed by Ahmad A. Al Sa’adi, Saudi Aramco senior vice president of Technical Services, and Kwon Pyung-Oh, president of KOTRA. Under the MoU, […]

  • BP Eastern Trough Area Project hub celebrates 20 years of production

    by Oil and gas press -

    The Eastern Trough Area Project (ETAP) North Sea development, labelled by the Oil & Gas Authority (OGA) as the “poster child” for its Maximising Economic Recovery (MER UK) strategy, celebrates 20 years of production today, with the key hub expected to operate into the mid-late 2030s. ETAP, often regarded as one of the most ambitious […]

  • Result of Tullow Arbitration with Kosmos

    by Oil and gas press -

    Tullow Oil plc (Group) announces that a panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has delivered an award in favour of Kosmos Energy Ghana HC (Kosmos) in relation to its dispute with Tullow Ghana Limited (Tullow) regarding its share of the liability of costs related to the West Leo […]

  • Waste Plastic as a Raw Material for Fuels and Plastics Explored

    by Oil and gas press -

    Neste is now exploring ways to introduce liquefied waste plastic as a future raw material for fossil refining. The aim of the development project is to proceed to industrial scale trial during 2019. The company’s target is to process annually more than one million tons of waste plastic by 2030. “Neste has been ranked the […]

  • Wood Plc Appoints New Chief Technology Officer

    by Oil and gas press -

    Wood Plc announced the creation of the role of Chief Technology Officer with the appointment of Darren Martin. As part of the broader strategy to differentiate Wood’s capabilities across energy and industrial markets, he will redefine the digital offering, enabling us to harness technology that will further complement Wood’s deep industry domain knowledge. New geographies […]

  • Development of Yamal’s Kharasaveyskoye field to start in 2019

    by Oil and gas press -

    Alexey Miller, Chairman of the Gazprom Management Committee, held in Bovanenkovo (Yamal-Nenets Autonomous Area) a meeting on the pre-development project for the Kharasaveyskoye gas and condensate field and the gas transmission system. It was noted that the Yamal Peninsula was of strategic importance to the Russian gas industry and the long-term reliability of gas supplies […]

  • Venezuela Discuss Plans To Raise Oil Production

    by Oil and gas press -

    Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of the year. While Venezuela and its struggling oil firm claim that they are revising their production planning in order to increase the country’s oil production capacity and make this year […]

  • Tidewater And GulfMark To Merge

    by Oil and gas press -

    Tidewater Inc. (NYSE: TDW) (“Tidewater”) and GulfMark Offshore, Inc. (NYSE: GLF) (“GulfMark”) today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement to combine the two companies. This combination, if consummated, will create a global offshore support vessel leader positioned to capitalize on significant cost synergies and superior growth […]

  • Transocean Ltd. Awarded 11-Well Contract for GSF Development Driller I

    by Oil and gas press -

    Transocean Ltd. (NYSE:RIG) announced today that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia. The estimated firm contract backlog, excluding integrated services, is approximately $158 million. Additionally, the contract includes four one-well options. Source / More […]

  • Chevron Donates $1 Million

    by Oil and gas press -

    Friends of the Global Fight Against AIDS, Tuberculosis and Malaria (Friends) announced it received a two-year, $1 million grant from Chevron. The grant will help expand Friends’ work to mobilize private sector, faith, youth and other partners for the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) and other programs aimed at ending […]

  • Eni partners with the paediatric hospital IRCCS

    by Oil and gas press -

    Eni and IRCCS Giannina Gaslini, one of Europe’s most important paediatric hospitals, have agreed a partnership to implement paediatric initiatives, providing clinical support for local populations and staff training in the countries Eni operates in. In particular, the agreement aims to provide training for the medical, nursing and technical staff of foreign hospitals by the […]

  • C-Kore Subsea Testing units successfully deployed by PTTEP

    by Oil and gas press -

    C-Kore Systems Ltd recently completed another successful deployment for PTTEP Australasia. The supplied C-Kore Subsea Testing units optimized the offshore operation, quickly bringing the field back on-line. C-Kore’s Subsea Testing tools are used to monitor the health of electrical systems by measuring the insulation resistance and continuity directly onto assets subsea. They are easy to […]

  • TechnipFMC awarded a master services agreement in Brazil

    by Oil and gas press -

    TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded by Petróleo Brasileiro S.A. (Petrobras) a 3-year master services agreement in Brazil, with a 2-year renewal option. This contract for subsea services covers components for both the subsea equipment and flexible pipelines. The scope of work includes maintenance services, technical assistance, inspection and end-fitting re-termination(1) of flexible pipes and […]

  • CNOOC to Invest $3bn in Nigeria

    by Oil and gas press -

    The Management of China National Offshore Oil Corporation (CNOOC) has expressed readiness to invest additional $3billion in its existing stakes in offshore oil and gas operations in the Nigerian jurisdiction. Leading a team of CNOOC top executives to the corporate headquarters of the Nigerian National Petroleum Corporation (NNPC), Yuan Guangyu, Chief Executive Officer of the […]

  • Evy Glørstad-Clark appointed SVP Exploration of Aker BP

    by Oil and gas press -

    Evy Glørstad-Clark has been appointed SVP Exploration of Aker BP, and will be part of the Executive Management Team. She currently holds a position as Asset Development Manager for NOAKA, and has been with the company since 2011. She holds a PhD in Petroleum geology/ sedimentology. She will commence in her new role on August […]

  • Rolls-Royce signs agreement to sell Commercial Marine business

    by Oil and gas press -

    Rolls-Royce announced that it has signed an agreement to sell its Commercial Marine business, to KONGSBERG, for an enterprise value of £500m and net proceeds of around £350m to £400m. KONGSBERG, headquartered in Kongsberg, Norway, is an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant […]

  • Maersk Drilling secures two contract extensions

    by Oil and gas press -

    Maersk Drilling has been awarded contract extensions for the high-efficiency jack-up rigs Maersk Resolute and Maersk Resolve by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively. The extensions allow the two rigs to continue their high-performance operations in the North Sea. Maersk Resolute has been awarded a 56-day contract extension by Petrogas E&P Netherlands […]

  • S&P Global Ratings affirms Saipem rating

    by Oil and gas press -

    Saipem announces that S&P Global Ratings published a research update affirming its “BB+” rating, with negative outlook, for the long term corporate credit rating and for senior unsecured facilities, including a € 1.5 billion Revolving Credit Facility and four bond issues of € 500 million each executed under its Euro EMTN Programme. Saipem is one […]

  • IMF Staff Concludes Visit to Nigeria

    by Oil and gas press -

    An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Nigeria from June 27 to July 9, 2018 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. At the end of the visit, Mr. Mati issued the following statement: “Higher […]

  • Total Closes the acquisition of Engie’s Upstream LNG Business

    by Oil and gas press -

    Total announces the closing of the acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5 billion. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years. This portfolio includes participating […]

  • Chevron Tech Challenge

    by Oil and gas press -

    Chevron Technology Ventures LLC (CTV) announced the launch of its latest initiative focused on cultivating the oil and gas industry’s innovation ecosystem and leveraging external technology to add value across Chevron operations. The Chevron Tech Challenge encourages entrepreneurs and startups as well as academics and other innovators to propose innovative solutions to industry challenges while […]

  • BP Ventures invests in Voltaware

    by Oil and gas press -

    BP Ventures, in support of BP Alternative Energy’s strategy in low-carbon power, storage and digital energy, has invested £1.5 million in Voltaware, whose innovative energy monitor offers businesses the ability to track their energy demand in detail, down to individual appliances. BP Alternative Energy is exploring the impact that digitisation will have on the energy […]

  • Premier Oil Trading and Operations Update

    by Oil and gas press -

    Premier provides an update on recent operational activities and guidance in respect of its half year financials to 30 June 2018. Highlights Production averaged 76.1 kboepd during 1H with recent run rates over 90 kboepd; full year guidance of 80-85 kboepd is unchanged Catcher plateau production rates of 60 kbopd (gross) consistently achieved following commencement […]

  • Occidental Petroleum Increases Dividend

    by Oil and gas press -

    Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared an increase of the company’s regular quarterly dividend to $0.78 per share. On an annual basis, the dividend is $3.12 per share at the new rate, compared to the previous annual rate of $3.08 per share. The $0.78 per share quarterly dividend […]

  • Golar Completes sale of equity interest in Golar Hilli LLC

    by Oil and gas press -

    We refer to the press release dated August 16, 2017, which announced the transaction to sell an equity interest in Golar Hilli LLC, the indirect owner of the FLNG Hilli Episeyo, to Golar LNG Partners LP (the “Partnership”). Golar LNG Limited and affiliates of Keppel Shipyard Limited and Black and Veatch have now closed the […]

  • Kvaerner awarded additional scope at Njord A

    by Oil and gas press -

    Kvaerner signed a contract with Equinor for the complete upgrading of the Njord A floating production platform. This contract includes the full upgrading of hull and topside, a scope which will enable the contract to produce oil and gas for decades ahead. In addition to production from the Njord field, the platform will also receive […]

  • Aker BP Second Quarter and First Half Year 2018 Report

    by Oil and gas press -

    Aker BP ASA reports total income of USD 975 million and operating profit of USD 552 million for the second quarter 2018. Net profit was USD 136 million and earnings per share were USD 0.38. The company paid a dividend of USD 0.3124 (NOK 2.51718) per share in the quarter. The company’s net production in […]

  • TEPCO & MHPS Launch Digital Solution Service

    by Oil and gas press -

    TEPCO Fuel & Power, Inc. (TEPCO FP) and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) have begun providing a digital solution service for the Pagbilao Power Station(1) operated by TeaM Energy Corporation in the Philippines. TEPCO FP and MHPS have been working towards commercialization of operations and maintenance (O&M) solutions services for power plants since concluding […]

  • Saudi’s Solution To Rising U.S. Gas Prices

    by Oil and gas press -

    The first U.S.-bound shipment of reformulated blendstock gasoline produced at a Saudi refinery operated by Aramco and Total is on its way, Reuters reports, citing the official Twitter account of the Aramco-Total joint venture. The news suggests that with U.S. gas prices at the pump at three-year highs, perhaps this market has proved too potentially […]

  • June 2018 Rig Counts

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced that the Baker Hughes international rig count for June 2018 was 959, down 8 from the 967 counted in May 2018, and down 1 from the 960 counted in June 2017. The international offshore rig count for June 2018 was 195, down 3 from the 198 counted in […]

  • ALTAGAS ACQUIRES WGL HOLDINGS, INC.

    by Oil and gas press -

    AltaGas Ltd. (AltaGas) (TSX: ALA) announced the closing of its approximately $9 billion acquisition of WGL Holdings, Inc. (WGL), creating a North American leader in the clean energy economy. The combination of AltaGas and WGL supports AltaGas’ long-term vision and strategy, and results in a company with an enterprise value of over $17 billion, a […]

  • Aker Solutions Announce Second-Quarter and Half-Year Results 2018

    by Oil and gas press -

    Aker Solutions’ earnings strengthened in the second quarter of 2018 as orders almost doubled from a year earlier amid a pickup in activity. The company delivered strong execution on major projects globally and made good progress on the second phase of its cost-efficiency program. These efforts helped maintain margins compared with a year earlier. “While […]

  • Kværner ASA Announce 2nd quarter and half year results 2018

    by Oil and gas press -

    Kvaerner’s second quarter and half year results are on track to the targets for the full year. Net cash at 30 June increased to more than NOK 3 billion, above levels over the last year. The total EBITDA result for the Field Development segment was NOK 118 million in the second quarter, and was NOK […]

  • Rawson Oil and Gas Signs Gas Sale MOU with Weston Energy

    by Oil and gas press -

    Rawson Oil and Gas Limited “Rawson” announced that it has executed a non‐binding Memorandum of Understanding (“MOU”) with Weston Energy Pty Limited (“Weston Energy”) to sell gas from the Nangwarry‐1 exploration well in the Otway Basin, South Australia in the event of a commercial discovery. The MOU represents a significant step towards signing a binding […]

  • Emerson Introduces New E&P Software

    by Oil and gas press -

    Emerson announces the release of the Paradigm® 18 integrated software solution suite, running on a unifying platform for generating high-resolution images and models of the subsurface. This release includes advanced technologies that use reservoir intelligence to help customers improve performance, enhance operational certainty and support effective asset management. Designed to optimize result accuracy while allowing […]

  • Neste MY Renewable Diesel™ reduced the carbon footprint of Flow Festival

    by Oil and gas press -

    World’s second most sustainable company according to the Global 100 list, Neste is for the fifth year in a row partnering with Flow Festival to support the event’s environmentally friendly agenda. This year, Neste is also the main partner of Sustainable Flow. Neste provides Neste MY renewable diesel – produced 100% from renewable raw materials […]

  • CME Group and Cheniere Energy to Develop Physically Deliverable LNG Futures Contract at Sabine Pass Terminal

    by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, and Cheniere Energy, Inc., a pioneer in the liquefaction and export of U.S. liquefied natural gas (LNG), reached an agreement through which CME Group will develop an LNG futures contract with physical delivery to Cheniere’s Sabine Pass terminal on the U.S. Gulf Coast. “In recent […]

  • Hess Corporation Publishes 2017 Sustainability Report

    by Oil and gas press -

    Hess Corporation (NYSE:HES) published its 2017 Sustainability Report today, providing a comprehensive review of the company’s strategy and performance on safety, environmental, social and governance programs and initiatives. An electronic version is available at http://www.hess.com/sustainability/sustainability-reports. “Our company is committed to developing oil and gas resources in a responsible and sustainable manner,” CEO John Hess said. […]

  • Milaha Deploys Flagship Vessel Off West African Coast

    by Oil and gas press -

    Milaha, a Qatar-based maritime and logistics conglomerate, has announced the deployment of its liftboat, Milaha Explorer, off the coast of West Africa as part of a long-term charter with a major international oil company. Milaha Explorer is the largest of its kind to be owned by a Qatari company, and has a large deck area, […]

  • Wood wins Dounreay nuclear design and engineering contract

    by Oil and gas press -

    Wood has won a framework contract to provide design and engineering services to the Dounreay nuclear site in Scotland, UK. Effective immediately, it will run for up to four years, including two potential one-year extensions and has an estimated value of $3-4m to Wood. The framework will help deliver the overarching decommissioning programme overseen by […]

  • Roxtec secures safety seal order with Britain’s £200m polar ship

    by Oil and gas press -

    International manufacturer Roxtec is helping protect Britain’s new £200m polar research vessel – RRS Sir David Attenborough – after supplying a range of specialist safety seals. The new build ship is being funded by the Natural Environment Research Council (NERC) built by Cammell Laird in Birkenhead and run by the British Antarctic Survey (BAS). It […]

  • Total completes the acquisition of 73% of Direct Energie

    by Oil and gas press -

    Total and Direct Energie announce the completion of the acquisition today by Total of 73.04% of the share capital of Direct Energie1, for 42 euros per share, representing approximately 1.4 billion euros. This acquisition, which is subsequent to the satisfaction of all conditions precedent referred to in the agreements executed on April 17, 2018 with […]

  • Eni announces a second oil discovery in the Faghur Basin

    by Oil and gas press -

    Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa. The well is the second one drilled by Eni to explore the deep geological sequences of the Faghur Basin. SWM B1-X has been […]

  • Rovuma LNG production expected to commence in 2024

    by Oil and gas press -

    Mozambique Rovuma Venture has submitted the development plan to the government for the first phase of the Rovuma LNG project, which will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block offshore Mozambique. The plan details the proposed design and construction of two liquefied natural gas trains which […]

  • Update on Cairn’s assets in India

    by Oil and gas press -

    Cairn is providing an update on its ongoing arbitration with the Government of India under the UK-India Bilateral Investment Treaty (“the Treaty”). All of the written submissions by Cairn and the Government of India have now been made, and the final arbitration hearings are scheduled for two weeks commencing on 20 August 2018 in The […]

  • Equinor acquires Danske Commodities

    by Oil and gas press -

    Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad […]

  • NNPC Posts Daily Gas Supply of 854.40million Standard Cubic Feet in March

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has announced the attainment of a two-year record spike in gas supply to power generation, which hits 854.40million Standard Cubic Feet of gas per day (mmscfd) for March 2018, translating to an equivalent power generation of 3,492MW. Details of the March 2018 National Gas Production figures contained in the […]

  • Appeals Court Rejects Fraudulent Ecuadorian Judgment Against Chevron

    by Oil and gas press -

    An appeals court in Argentina has rejected an attempt to enforce a fraudulent Ecuadorian judgment against Chevron Corporation, making Argentina the latest country where courts have dismissed the judgment found by U.S. courts to have been obtained through racketeering and corruption. The three-judge panel from the Chamber of Appeals in Buenos Aires unanimously dismissed the […]

  • New Oil Cartel Threatening OPEC

    by Oil and gas press -

    When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying. “The timing is right. The boom in U.S. oil and gas […]

  • Enbridge Announces Sale of Canadian Gas Gathering & Processing Businesses for $4.31 Bn

    by Oil and gas press -

    Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced that it has entered into definitive agreements to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia (B.C.) and Alberta (the “G&P Business”) to Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) […]

  • PDO for Snorre Expansion Project approved

    by Oil and gas press -

    The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) for the Snorre Expansion Project. Investments of just above NOK 19 billion (2017) will increase recovery from the Snorre field by almost 200 million barrels and extend the field life beyond 2040. Snorre Expansion Project is the largest project for […]

  • BP starts-up landmark Shah Deniz 2 development in Azerbaijan

    by Oil and gas press -

    BP and its partners in the Shah Deniz consortium today announced the start-up of the landmark Shah Deniz 2 gas development in Azerbaijan, including its first commercial gas delivery to Turkey. The BP-operated $28 billion project is the first subsea development in the Caspian Sea and the largest subsea infrastructure operated by BP worldwide. It […]

  • SBM Offshore Awarded Contracts by EEPGL

    by Oil and gas press -

    SBM Offshore announced that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the Company contracts to perform Front End Engineering and Design (FEED) for a second Floating Production, Storage and Offloading vessel (FPSO) for the Liza development located in the Stabroek block in Guyana. EEPGL is the operator of the Stabroek block […]

  • SeaBird awarded work in Asia Pacific region

    by Oil and gas press -

    SeaBird Exploration announced that it has received a letter of award to provide a source vessel for an upcoming seismic project in the Asia Pacific region. The project is anticipated to commence during Q3 and will have a duration of approximately three months. SeaBird will be using the Voyager Explorer for the project. Source / […]

  • Glencore subpoenaed by the US Department of Justice

    by Oil and gas press -

    Glencore Ltd, a subsidiary of Glencore plc, has received a subpoena dated 2 July, 2018 from the US Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes. The requested documents relate to the Glencore Group’s business in Nigeria, the […]

  • €2.7 billion capital investment made by INEOS

    by Oil and gas press -

    INEOS has approved a €2.7 billion capital project to build both a world scale ethane cracker and a PDH (Propane Dehydrogenation) unit in Northern Europe. Both units will benefit from US shale gas economics. This will be the first new cracker built in Europe for two decades. It will also be one of the most […]

  • C-Kore Systems awarded contract with A/S Norske Shell

    by Oil and gas press -

    C-Kore Systems recently secured a contract with A/S Norske Shell for a deployment in the fall 2018 on their Draugen field in Norway. The agreement includes the delivery of their C-Kore Subsea Testing tools to test the insulation resistance and continuity of electrical lines subsea. C-Kore’s monitoring units are used on installation/commissioning campaigns and fault-finding […]

  • Equinor aligns partnership in Brazil’s Carcará area

    by Oil and gas press -

    Equinor and Barra Energia (“Barra”) have signed an agreement for Equinor to acquire Barra’s 10% interest in the BM-S-8 licence in Brazil’s Santos basin. This transaction will enable Equinor and its partners to fully align interests across the two licences for the Carcará area. In early June Equinor, ExxonMobil and Galp completed transactions in BM-S-8 […]

  • NNPC/FIRST E&P JV Finalize $724m Schlumberger Oil Finance Deal

    by Oil and gas press -

    One year after signing the tripartite term sheet for the financing and technical services arrangement between NNPC/FIRST E&P JV and Schlumberger for the Anyalu and Madu fields under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria, a final nod was given to the package over the weekend in London with the execution of […]

  • High Court Judgment for Seadrill vs Tullow Ghana Ltd

    by Oil and gas press -

    Tullow Oil plc (Group) announces that a judgment in the English Commercial Court case brought against its wholly owned subsidiary Tullow Ghana Limited (Tullow) by Seadrill Ghana Operations Limited (Seadrill) has been received today. The Hon. Mr Justice Teare has ruled that Tullow was not entitled to terminate its West Leo rig contract with Seadrill […]

  • Wood awarded multi-million dollar steam methane reformer contract

    by Oil and gas press -

    Wood has secured a new multi-million dollar contract with Hyundai Engineering to provide detailed engineering services and material supply for a steam methane reformer, part of a new Wood-licensed hydrogen production unit for the Melaka Refinery Diesel Euro 5 Project in Malaysia. Wood will deploy its leading proprietary Terrace WallTM technology for hydrogen production as […]

  • Plans for further development of the Troll field

    by Oil and gas press -

    Equinor and the partners in the Troll licence today submitted the plan for further development of the gigantic Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy. “The third phase of the Troll development realises 2.2 billion barrels of oil equivalent, it has a break-even of less than USD […]

  • Wintermar Offshore Repays US$39.72 Million Loan in Full

    by Oil and gas press -

    On 1st July 2018, the WINS Group (WINS.JK) fully repaid the US$39.72 million syndicated loan by OCBC Bank and PT OCBC NISP that was disbursed in 2010. Sugiman Layanto, Managing Director of PT Wintermar Offshore Marine Tbk (WINS), said, “Although the past few years have been very challenging for everyone in the oil and gas […]

  • Novara GeoSolutions Unveils New Geospatial Product in Oil & Gas Industry

    by Victoria Skogman -

    Novara GeoSolutions (Novara), the industry’s leader in geospatial software and services for pipeline assets, announces the launch of a new product that is intuitive and easy to use. Users in the geospatial industry that need the ability to locate specific events and locations based on stationing values can use the StationNav widget, a plug-in for […]

  • Scientific research alliance between Eni and Politecnico di Milano

    by Oil and gas press -

    Eni and Politecnico di Milano are inaugurating a new strategic scientific research alliance, based on innovation and development in the circular economy, digitalisation and the transition towards an increasingly more sustainable energy system. The Rector of Politecnico di Milano, Ferruccio Resta, and the CEO of Eni, Claudio Descalzi, signed the renewed framework agreement regulating the […]

  • Eni Norge and Point Resources merge into Vår Energi AS

    by Oil and gas press -

    Eni and leading private equity investor HitecVision announced an agreement to merge Point Resources AS into Eni Norge AS, and renaming the company Vår Energi AS. The combined entity will be a leading independent Norwegian Exploration & Production company, built on the existing organizations and leveraging on complementary strengths. The portfolio of the combined company […]

  • TechnipFMC awarded a subsea contract by Total E&P Angola

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a contract by Total E&P Angola for the Zinia Phase 2 field development, located offshore Angola at a water depth between 800 and 1,000 meters. The contract covers the Engineering, Procurement and Construction of subsea equipment including 9 subsea tree units as well as wellheads, subsea control […]

  • 3 Breakthrough Technologies Changing The Energy Sector

    by Oil and gas press -

    Energy has seen some big changes in the last few years. Coal has stumbled. Renewables have surged. Oil fell hard, then spent years clawing its way back up. But the biggest change in energy has been in tech. The shale revolution unlocked millions of barrels that had been trapped away in shale deposits for decades. […]

  • Nigeria Committed to Midwifing Gas-Driven Industrialisation

    by Oil and gas press -

    The Oil and Gas Industry is creating an enabling environment that would enable investors to contribute their quota towards making Nigeria’s abundant natural gas resources serve as launching pad for the nation’s industrialization take off. Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. […]

  • Saudis Won’t Prevent The Next Oil Shock

    by Oil and gas press -

    Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving quickly to head off a supply crunch, aiming to dramatically ramp up production to a record high 11 million barrels per day in July, according […]

  • Hess Announces Sale of Utica Acreage

    by Oil and gas press -

    Hess Corporation (NYSE:HES) today announced that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. “We continue to focus our portfolio by divesting lower return, non-core assets […]

  • IMF Completes Second Review of Staff Monitored Program with The Gambia

    by Oil and gas press -

    On June 18, 2018, the Managing Director of the International Monetary Fund completed the second review of the Staff Monitored Program (SMP) with The Gambia.[1] The SMP, which commenced in April 2017, was extended through September 2018 in the context of the first review in March 2018, to enable the authorities to establish a track […]

  • BP to acquire the UK’s electric vehicle charging company, Chargemaster

    by Oil and gas press -

    BP today announced that it has entered into an agreement to purchase Chargemaster, the UK’s largest electric vehicle (EV) charging company. Chargemaster operates the UK’s largest public network of EV charging points, with over 6,500 across the country. It also designs, builds, sells and maintains EV charging units for a wide range of locations, including […]

  • Rovuma LNG Marketing

    by Oil and gas press -

    Eni and ExxonMobil said today that marketing efforts are underway for the Rovuma LNG project, which will produce, liquefy and sell natural gas from the gas fields of the Area 4 block offshore Mozambique. Senior management representatives of the co-venture parties (ExxonMobil, Eni, CNODC, ENH, Kogas and Galp) met today during World Gas Conference in […]

  • DEA becomes operator of 3 exploration blocks in Mexico

    by Oil and gas press -

    Deutsche Erdoel Mexico, the subsidiary of the German E&P company DEA Deutsche Erdoel AG, and its partners have signed the contracts for the offshore blocks 16, 17 and 30. The contracts were awarded by the National Hydrocarbons Commission CNH (Comisión Nacional de Hidrocarburos) in Mexico’s shallow water bid round 3.1 in March 2018. In all […]

  • Oranto Petroleum Farms into Zambian Oil Blocks

    by Oil and gas press -

    Oranto Petroleum is farming into two exploration blocks located onshore Zambia. Blocks 17 and 27 represent Oranto’s first investment in the country. “Oranto Petroleum is committed to an aggressive work program to increase the level of prospectivity in one of the world’s last true frontier markets,” said Prince Aurthe Eze, Chairman of Oranto Petroleum. “Our […]

  • Fossil-Free Friesland project

    by Oil and gas press -

    The Elfwegentocht is a two-week-long event in July in which citizens of the province Friesland in the Netherlands will travel fossil-fuel-free. Friesland is the first province to offer 100% renewable diesel at local fuel stations. The renewable diesel is called Blauwe Diesel powered by Neste MY. Blauwe Diesel is a sustainable and renewable alternative to […]

  • Wood Announces H1 trading performance and outlook

    by Oil and gas press -

    In the first half, continued trading momentum has resulted in higher activity delivering revenue growth across our business. We anticipate delivering first half revenue of c$5.1bn – c$5.2bn and EBITA in the range of c$250-c$260m. Net debt at the end of June is anticipated to be approximately $1.7bn which reflects improved operational cash generation. We […]

  • Tullow Announce 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 half year to 30 June 2018. This is in advance of the Group’s Half Year Results, which are scheduled for release on Wednesday 25 July 2018. The information contained herein has not been […]

  • Equinor Completes Batwind installation

    by Oil and gas press -

    With Batwind in operation, it will for the first time be possible to store energy produced from an offshore wind farm. The battery storage solution was presented in Peterhead, Scotland today by Batwind partners Equinor and Masdar. Electricity produced at the world’s first floating offshore wind farm Hywind Scotland, located 25 kilometers off the coast […]

  • Chevron’s Motion to Dismiss Climate Change Case

    by Oil and gas press -

    The U.S. District Court for the Northern District of California has issued a ruling dismissing the climate change lawsuits filed against Chevron Corporation by the cities of San Francisco and Oakland. The court dismissed the complaint as requiring foreign and domestic policy decisions that are outside the proper purview of the courts. As the court […]

  • Chevron will support the Houston Texans’ social programs

    by Oil and gas press -

    Chevron Corporation (NYSE: CVX)and the Houston Texans today announced a five-year partnership designating Chevron as the Texans’ first-ever Official Volunteerism Partner. This marks an expansion of Chevron’s long-standing relationship with the Texans, with a focus on engaging the company’s large workforce in Houston with the team’s impactful community initiatives. “We are excited to expand our […]

  • AP Update on Senegal & The Gambia

    by Oil and gas press -

    African Petroleum, an independent oil and gas exploration company with licence interests in offshore West Africa, provides the following update: Senegal (SOSP & ROP PSCs – 90% interest) In January 2018, formal notices of dispute were lodged with the Senegalese authorities in respect of the Senegal Offshore Sud Profond (“SOSP”) and Rufisque Offshore Profond (“ROP”) […]

  • NNPC Outline Plans to Attract Private Investment

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has outlined plans to attract private investments, ensure sustainable development and spur growth in the nation’s Oil and Gas Industry. Group Managing Director of the corporation, Dr. Maikanti Baru, disclosed this while speaking on the theme “Investment in the Oil and Gas Industry” at the 7th International Seminar of […]

  • Closing of Post Acceptance Debt Financing

    by Oil and gas press -

    Golar LNG Limited (“Golar” or “The Company”) announces today that following the June 4th announcement of commercial acceptance of Hilli Episeyo, the Company has repaid the $640 million drawn under the $700 million construction financing facility and drawn down on the post acceptance $960 million lease financing facility provided by CSSC Leasing. After the closing […]

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