News

  • Appointment of Senior Vice-President, Investor Relations at Total

    Posted On March 25, 2019 - 11:22 AM | by Oil and gas press -

    Ladislas Paszkiewicz is appointed Senior Vice-President, Investor Relations of Total and is a member of the Group Performance Management Committee. Mike Sangster will retake the role on an interim basis until then. Ladislas Paszkiewicz joined Total in 1985 in the Finance Division. From 2005 to 2015, he was in the Exploration & Production Business Unit […]

  • Bank of England holds interest rates

    Posted On March 22, 2019 - 1:58 PM | by Oil and gas press -

    The Bank of England’s monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data. The Bank cited weakening global economic conditions and “shifting expectations” about Britain’s withdrawal from the European Union. It signalled it had future rates rises pencilled in, […]

  • Crude Oil Price Movement to 21/03/19

    Posted On March 22, 2019 - 12:35 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $67.78 a barrel on Thursday, 21 March 2019, compared with $67.54 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 […]

  • U.S. Chiller Services Awarded maintenance contract by ADNOC in Ruwais City

    Posted On March 22, 2019 - 11:44 AM | by Oil and gas press -

    U.S Chiller services (USCS) announced that they have been awarded the comprehensive operation and maintenance of 3 district cooling plants for the Abu Dhabi National Oil Company. USCS will be responsible for complete operation, maintenance, services and energy optimization of the three chilled water plants for five years beginning March 1, 2019. The three plants […]

  • ADNOC Wins National Award for Oil and Gas Project of the Year

    Posted On March 22, 2019 - 11:36 AM | by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) has won a national award for the Oil and Gas Project of the Year at the 2019 MEED Projects Awards. The award was presented to ADNOC for the Taweelah Gas Compression Plant project that was completed in record time and under the highest safety standards. The award recognizes […]

  • Rise for Bayelsa Campaign

    Posted On March 22, 2019 - 9:28 AM | by Oil and gas press -

    Bayelsa State governor, Seriake Dickson has accused multinational oil companies operating in the Niger Delta of funding “terrorism, criminality and breakdown of law and order.” He alleged that oil pipeline surveillance contracts awarded by the oil firms were foundational to the security threats in the region. In a statement issued on Thursday, Dickson’s Special Adviser […]

  • Sonangol attributes fuel shortage to logistic problem

    Posted On March 20, 2019 - 3:47 PM | by Oil and gas press -

    Angola State-owned oil firm “Sonangol” has told its consumers that the fuel supply situation in Luanda province would be tackled but it did not set any deadline for the full solution to the problem, recorded since the early hours of last Saturday. In its statement, Sonangol attributed the fuel shortage to logistic problem, saying that […]

  • World Happiness Report

    Posted On March 20, 2019 - 9:15 AM | by Oil and gas press -

    The World Happiness Report, released today, ranked 156 countries by happiness levels, based on factors such as life expectancy, social support and corruption. The World Happiness Report is a landmark survey of the state of global happiness that ranks 156 countries by how happy their citizens perceive themselves to be. This year’s World Happiness Report […]

  • Panoro Announce: First crude oil lifting from Tunisia

    Posted On March 19, 2019 - 7:53 PM | by Oil and gas press -

    Panoro Energy ASA (“Panoro” with OSE ticker: “PEN”) provided an update on lifting operations in Tunisia. The first cargo of approximately 151,000 barrels of Rhemoura blend crude oil has been lifted from La Skhirra Terminal in Tunisia on 6 March 2019. The lifting operations were completed successfully and without any delays or incidents. The pricing […]

  • INEOS set to acquire Cristals from Tronox

    Posted On March 19, 2019 - 4:34 PM | by Oil and gas press -

    INEOS Enterprises has today announced that it has signed an agreement to acquire The North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited (NYSE:TROX) for $700 million. Cristal’s North American business includes two-plants located at the Ashtabula Ohio (US) complex. The deal forms the proposed remedy package submitted to the US […]

  • Pearl signs Gas Sales Agreement with Kurdistan Regional Government

    Posted On March 19, 2019 - 12:45 PM | 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 […]

  • U.K Government’s policy on fracking

    Posted On March 18, 2019 - 11:20 AM | by Oil and gas press -

    Commenting on the news that elements of the Government’s fracking policy ruled unlawful, Dr Jonathan Marshall, Head of Analysis at the Energy and Climate Intelligence Unit (ECIU) said: “Natural gas is not a low-carbon fuel, therefore the ruling to call into question governmental claims that it is make sense. With the UK’s electricity system almost […]

  • Neste Announce disposal of own shares based on the share ownership plan

    Posted On March 18, 2019 - 9:53 AM | by Oil and gas press -

    A total of 56,033 treasury shares of Neste Corporation has been on the 15th of March 2019 conveyed without consideration to the key persons participating in the Share Ownership Plan 2016 according to the terms and conditions of the plan. The decision of the Board of Directors is based on a share issue authorization granted […]

  • SNEPCo’s entry into the offshore exploration in the Gulf of Guinea

    Posted On March 18, 2019 - 8:40 AM | by Oil and gas press -

    The government partner of the Shell Nigeria Exploration and Production Company (SNEPCo) has showered encomiums on the firm for its pioneering role in the deep-water sector of the Nigerian oil and gas industry. Group Managing Director of NNPC, Maikanti Baru, described SNEPCo as a clear leader in deep water whose performance is exemplary. “SNEPCo is […]

  • Nigerian Government takes over oil well from Shell

    Posted On March 14, 2019 - 6:20 PM | by Oil and gas press -

    President, Mohammadu Buhari has said that with effect from 2019, existing oil licensees will not be renewed by the Federal Government of Nigeria and its Public Corporations. No reason has so far been given for this development, but sources within the Presidency reportedly revealed that the move is in keeping with this electioneering campaign promises, […]

  • Karoon Energy Chairman Announces Company Strategy

    Posted On March 14, 2019 - 9:44 AM | by Oil and gas press -

    Against the backdrop of a very strong balance sheet, the board has undertaken a review of the company’s strategy encompassing the evaluation of several future scenarios. The overriding principle in evaluating the strategic alternatives was based solely on potential shareholder returns. The major components of the strategic review included: a significant production acquisition; pursuing our […]

  • Crude Oil Price Movement to 12/03/19

    Posted On March 13, 2019 - 4:00 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $66.30 a barrel on Tuesday, 12 March 2019, compared with $66.01 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 […]

  • US imports of Nigerian crude falls by 43%

    Posted On March 13, 2019 - 3:51 PM | by Oil and gas press -

    The United States (US) cut its imports of Nigerian crude oil by 48.87 million barrels or 43 per cent in 2018, according to the latest data released by the Energy Information Administration. US imports of Nigerian crude fell from 148.48 million barrels in 2012 to 87.40 million barrels in 2013 on the back of the […]

  • Petro Environment 2019

    Posted On March 13, 2019 - 3:29 PM | by Oil and gas press -

    Held for the third time in Saudi Arabia, the 25-year-old “Symposium and Exhibition on Environmental Progress in the Petroleum & Petrochemical Industry” hosted by the Environmental Technology & Management Association, gathers the oil and gas, and petrochemicals sectors for an interactive symposium and commercial exhibition. The event’s patron, HRH Prince Saud ibn Nayef ibn ‘Abd […]

  • Total’s Exploration prospects in Africa

    Posted On March 13, 2019 - 3:19 PM | by Oil and gas press -

    Total announced a significant achievement off the coast of South Africa: the discovery of an important gas condensate field on the Brulpadda (“bullfrog” in Afrikaans) prospect deep offshore. João Amaral, Vice President, General Affairs and Exploration Affiliates, Africa for Total Exploration & Production, discusses follow-up prospects to the recent discovery in South Africa. The Group’s […]

  • Commercial Operation at Stoneray Wind Project in Minnesota

    Posted On March 13, 2019 - 8:41 AM | by Oil and gas press -

    EDF Renewables North America announced that the 100 megawatt (MW) Stoneray Wind Project (Project) is fully operational. Located in Pipestone and Murray counties in Southwestern Minnesota, the Project consists of 39 wind turbines manufactured by Siemens Gamesa. The electricity generated by the project will be delivered to Southern Minnesota Municipal Power Agency (SMMPA) beginning in […]

  • Cheniere Partners Announces Substantial Completion of Train 5

    Posted On March 12, 2019 - 6:44 PM | by Oil and gas press -

    Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) announced that Substantial Completion of Train 5 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on March 7, 2019. Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) has turned over care, […]

  • Eni and Qatar Petroleum sign farm out agreement

    Posted On March 12, 2019 - 4:03 PM | by Oil and gas press -

    Eni and Qatar Petroleum signed a farm out agreement to enable Qatar Petroleum to acquire a 25.5% participating interest in Block A5-A, offshore Mozambique. The agreement is subject to the authorization by the Mozambican authorities. Block A5-A, located in the deep waters of the Northern Zambezi Basin, approximately 1,500 km north-east of the capital Maputo, […]

  • Cairn Announce Full Year Results 2018

    Posted On March 12, 2019 - 3:00 PM | by Oil and gas press -

    2018 Summary as follows Combined net production averaged ~17,500* boepd Oil and gas sales revenue US$396m, average realised price US$68 boe**; average production cost US$20.5 per mmboe Net cash inflow from oil and gas production US$229m Capital expenditure: cash outflow of US$252m***, remaining cash outflows post year end US$30m Year end Group cash US$66m; US$85m […]

  • Saudi Aramco Energy Ventures invests in Earth Science Analytics

    Posted On March 8, 2019 - 5:53 PM | by Oil and gas press -

    Earth Science Analytics AS, a Norwegian provider of artificial intelligence-based petroleum geospatial software, has closed a financing round A with Saudi Aramco Energy Ventures (SAEV). Saudi Aramco Energy Ventures is the corporate venture arm of Saudi Aramco, a world-leading integrated energy and chemical company. Earth Science Analytics is at the forefront of developing the next […]

  • ExxonMobil Sponsors Smithsonian’s Traveling Exhibition of Green Book History

    Posted On March 7, 2019 - 4:24 PM | by Oil and gas press -

    ExxonMobil said today that it will sponsor a Smithsonian Institution traveling exhibition showcasing the history of The Green Book, a guide for African-American travelers in the segregated United States of the mid-20th century. ExxonMobil predecessor Standard Oil Company of New Jersey was the only major retail distributor of The Green Book through its network of […]

  • Eni collaborates with LUISS Guido Carli University

    Posted On March 7, 2019 - 4:06 PM | by Oil and gas press -

    The agreement involves three collaborative programmes in the area of geopolitical training, orientation and analysis. The historic partnership between the energy company and the prestigious university named after Guido Carli has now been even further strengthened. The first area of collaboration envisaged by the agreement is the Sub-Saharan Africa Project, through which Eni will contribute […]

  • NNPC to Build, Fertilizer Plants in Bayelsa State

    Posted On March 7, 2019 - 1:06 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has expressed its preparedness to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which is expected to add 4,0000 megawatts of power to stabilize the national grid. The National Oil Company also disclosed that it would construct a Fertilizer Project in Brass, Bayelsa State. Chief Financial […]

  • CNRL Announces Quarterly Dividend

    Posted On March 7, 2019 - 10:27 AM | by Oil and gas press -

    Canadian Natural Resources Limited announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.375 (thirty-seven and one half cents) per common share. The dividend will be payable April 1, 2019 to shareholders of record at the close of business on March 22, 2019. Canadian Natural is a senior […]

  • Eni and the Government of Ghana launch Project

    Posted On March 6, 2019 - 10:06 AM | by Oil and gas press -

    The Minister of Planning Prof. Gyan Baffour in representation of the President of Ghana Nana Akufo-Addo, the Krontihene of Dormaa Barimah Ansu Agyei, and Eni’s Executive Vice President for Sub-Saharan Africa Guido Brusco cut today in Kyeremasu, Dormaa East, Bono Region, the sod of a new training center for diversified agricultural development and entrepreneurship. The […]

  • Total Signs Agreements for Entry into Arctic LNG 2

    Posted On March 5, 2019 - 9:47 AM | by Oil and gas press -

    Total announces that it has signed the definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia. Taking into account Total’s 19.4% stake in Novatek and Novatek’s intention to retain 60% of the project, the […]

  • CME Group Averaged 19 Million Contracts Per Day in February 2019

    Posted On March 4, 2019 - 1:02 PM | by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 19 million contracts in February 2019. This is up 7 percent from January 2019, but down from a record 27.3 million contracts per day in February 2018. Open interest (OI) at the end of February was 126 million contracts, […]

  • Joint Venture to redefine AI Technology for Power Grids

    Posted On March 4, 2019 - 12:57 PM | by Oil and gas press -

    Mitsui & Co., Ltd. (“Mitsui”), GCL-Poly Energy Holdings Limited (“GCL-Poly”) and eVolution Networks (now part of eVolution Innovation Group,) today announced the establishment of a joint venture company named Evolution Energy Limited (“eVolution Energy”) to redefine AI technology for Power Grids infrastructure with aim to improve the grid loss and performance. eVolution’s AI algorithms collects […]

  • Citgo severs ties with PDVSA

    Posted On March 2, 2019 - 5:54 PM | by Oil and gas press -

    Citgo completed its breakup with PDVSA, cutting off a crucial stream of revenue for the Venezuelan government. The opposition, led by self-proclaimed president Juan Guaidó, hopes to obtain control of Citgo and its resources, which would provide the new government with a revenue base. Recent data from Kpler and the WSJ suggests that Venezuela’s oil […]

  • Germany commits 60 billion euros to development of electric mobility

    Posted On March 2, 2019 - 5:33 PM | by Oil and gas press -

    Germany’s car industry is to invest nearly 60 billion euros ($ 68 billion) over the next three years on electric cars and automated driving, the head of the VDA car industry association said ahead of the Geneva motor show. “We will invest over 40 billion euros in electric mobility during the next three years, and […]

  • MARATHON OIL DIVESTS FROM U.K.

    Posted On March 1, 2019 - 10:39 AM | by Oil and gas press -

    Marathon Oil Corporation (NYSE: MRO) announced that the Company has entered into a share purchase agreement through its subsidiaries for the sale of its U.K. businesses Marathon Oil U.K. LLC (MOUK) and Marathon Oil West of Shetland Limited (MOWOS). The transaction represents a complete country exit for Marathon Oil. MOUK holds a 37 to 40 […]

  • U.S. To draw down From Strategic Petroleum Reserve

    Posted On March 1, 2019 - 9:36 AM | by Oil and gas press -

    The U.S. Department of Energy plans to sell up to 6 million barrels of crude oil from the Strategic Petroleum Reserve (SPR), with deliveries taking place in April and May, the Department of Energy said on Thursday. DOE plans to draw down and sell crude oil from three SPR sites—Bryan Mound and Big Hill in […]

  • ENERGY NEWSTRACK TO 28/02/19:

    Posted On February 28, 2019 - 4:18 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $64.97 a barrel on Wednesday, 27 February 2019, compared with $64.08 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 […]

  • Subsea 7 Announces Full Year 2018 Results

    Posted On February 28, 2019 - 1:05 PM | by Oil and gas press -

    Subsea 7 S.A. (the Group) announced today results for the fourth quarter and full year which ended 31 December 2018. Unless otherwise stated the comparative period is the full year which ended 31 December 2017. Fourth Quarter and Full Year 2018 highlights Reported Adjusted EBITDA percentage margin of 16% for the full year 2018 and […]

  • Woodside awards MODEC International Inc.FEED contract

    Posted On February 28, 2019 - 12:26 PM | by Oil and gas press -

    Woodside, as Operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, has awarded MODEC International Inc. the front-end engineering design (FEED) contract for the SNE Field Development Phase 1 floating production storage and offloading (FPSO) facility. Following FEED, and subject to necessary government and joint venture approvals, it is anticipated […]

  • Benthic completes geotechnical investigation offshore East Malaysia.

    Posted On February 28, 2019 - 12:15 PM | by Oil and gas press -

    Benthic, a global geosciences company, partnered with Asian Geos Sdn Bhd (Asian Geos), has successfully completed its geotechnical investigation in the Limbayong Field, offshore East Malaysia for PETRONAS Carigali Sdn Bhd (PETRONAS Carigali). Asian Geos was awarded a contract by PETRONAS Carigali forthe Provision of Soil Investigation Services for Limbayong Deepwater Development. Benthic’s Portable Remotely […]

  • Flights from Dubai, Abu Dhabi to Pakistan, India Cancelled

    Posted On February 28, 2019 - 9:29 AM | by Oil and gas press -

    Flights to all Pakistani airports from Dubai and Abu Dhabi were cancelled on Wednesday, leaving scores of passengers stranded at terminals. Some flights to India have been affected as well, including those operated by Spicejet, Indigo and Airblue. UAE-based carrier flydubai cancelled Wednesday’s and Thursday’s flights to a number of destinations, including Faisalabad, Multan, Sialkot […]

  • World’s Largest Mixed Feed Cracker for Ruwais Petrochemicals Complex

    Posted On February 27, 2019 - 4:29 PM | by Oil and gas press -

    Borouge, a leading petrochemicals company , has awarded TechnipFMC, Maire Tecnimont and WorleyParsons three major contracts for the fourth phase of the Ruwais petrochemicals complex which will include the world’s largest mixed feed cracker. CONTRACTS SIGNING CEREMONY In a ceremony held in Abu Dhabi, Borouge signed the FEED (Front-End Engineering and Design) contract, PMC (Project […]

  • Occidental Petroleum Announces Dividend

    Posted On February 27, 2019 - 3:16 PM | by Oil and gas press -

    Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared a regular quarterly dividend of $0.78 per share on common stock payable on April 15, 2019, to stockholders of record as of March 11, 2019. Occidental has paid quarterly dividends continuously since 1975 and has increased its dividend each year since 2002. […]

  • ONGC CSR work recognized by FICCI

    Posted On February 27, 2019 - 1:11 PM | by Oil and gas press -

    Oil and Natural Gas Corporation Limited (ONGC) has been conferred with FICCI award for Corporate Social Responsibility (CSR) projects undertaken by it in Baramulla and Uri of Jammu & Kashmir. ONGC undertook CSR projects in the field of skill development, education, rehabilitation work on the frontiers and contribution to nation building in association with the […]

  • Muhammadu Buhari wins 2019 Presidential election in Nigeria

    Posted On February 27, 2019 - 11:14 AM | by Oil and gas press -

    Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, declared Muhammadu Buhari of APC as winner of the 2019 presidential election that held on February 23rd, 2019. President Buhari of the All Progressives Congress (APC) polled a total of 15,191,847 (56%) votes, winning in 19 of the states while Atiku Abubakar received 11,262,978 […]

  • Staff changes at Gazprom

    Posted On February 26, 2019 - 3:43 PM | by Oil and gas press -

    Alexander Medvedev has been relieved of his post as Deputy Chairman of the Management Committee. He is going to focus on the International Business Congress and FC Zenit. Valery Golubev has been relieved of his post as Deputy Chairman of the Management Committee. Alexey Miller, Chairman of the Gazprom Management Committee, has thanked Valery Golubev […]

  • McDermott Awarded EPC Contract for Hydrogen Cryogenic Sphere

    Posted On February 26, 2019 - 12:18 PM | by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced today it was awarded a sizeable* contract by Precision Mechanical, Inc. for a double wall liquid hydrogen sphere at the John F. Kennedy Space Center in Cape Canaveral, Florida. The scope of the contract includes the engineering, procurement and construction of the sphere, which will be the largest ever […]

  • ExxonMobil Employees Inspire Girls to Pursue Engineering Fields

    Posted On February 25, 2019 - 10:05 PM | by Oil and gas press -

    More than 1,000 middle-school girls have joined ExxonMobil for the company’s 16th annual Introduce a Girl to Engineering Day, which aims to inspire female students to consider engineering as a career. Over several days, employees from ExxonMobil and its subsidiary XTO Energy across the United States led students through interactive activities that range from chemistry […]

  • NNPC Championing Cause of Women Engineers

    Posted On February 25, 2019 - 2:49 PM | by Oil and gas press -

    The Nigerian Society of Engineers (NSE) has commended the Nigerian National Petroleum Corporation (NNPC) for its exemplary role in the advocacy of science and engineering-based education for the girl child through support for the activities of the Association of Professional Women Engineers of Nigeria (APWEN). Engr. Adekunle Mokuolu, President Nigerian Society of Engineers (NSE), stated […]

  • Saudi Aramco signs agreement to form Joint Venture with NORINCO and Panjin Sincen

    Posted On February 25, 2019 - 12:38 PM | by Oil and gas press -

    Saudi Aramco signed an agreement to form a joint venture with NORINCO Group and Panjin Sincen to develop a fully integrated refining and petrochemical complex, located in the city of Panjin in the Liaoning province of China. The partners will create a new company, Huajin Aramco Petrochemical Co. Ltd., as part of a project that […]

  • Gunmen Attack Anadarko LNG Project In Mozambique

    Posted On February 25, 2019 - 11:37 AM | by Oil and gas press -

    Militants have attacked Anadarko’s LNG project in Mozambique, Bloomberg reported, citing Portuguese news agency Lusa and unnamed sources. More than a dozen masked, armed men reportedly attacked a convoy near the project, which is still under construction, and injured four people. The attackers are suspected to be members of an Islamic militant group that has […]

  • Top Five Least fuel efficient cars tested by What Car?

    Posted On February 21, 2019 - 2:20 PM | by Oil and gas press -

    Motoring title What Car? has listed the 10 most and least frugal models you can buy today using its own ‘true MPG’ tests based on real-world driving on town roads, rural routes and motorways Daily Mail reports Alfa Romeo Giulia Quadrifoglio – True MPG: 23.5mpg Audi SQ5 – True MPG: 24.6mpg Mercedes S500 Cabriolet – […]

  • “Clean Beach” project in Ghana

    Posted On February 21, 2019 - 10:53 AM | by Oil and gas press -

    Eni Ghana launched the “Clean beach” initiative, a community-based project to clean-up the shorelines of the communities of Sanzule, Bakanta, Krisan and Eikwe, in the Western Region. The scheme is designed to improve waste collection and waste management activities in the area. The “Clean Beach” day took place on January 31st with massive turnout from […]

  • Nigeria ready to reduce oil output to boost prices

    Posted On February 20, 2019 - 6:02 PM | by Oil and gas press -

    President Muhammadu Buhari today pledged the cooperation of Nigeria to the effort to reduce oil output in order to attract higher prices in the global market. Speaking at an audience with Ahmad Qattan, Minister of State for African Affairs and Special Envoy of King Salman Bin Abdulaziz of Saudi Arabia, at the State House, Abuja, […]

  • ENERGY NEWSTRACK TO 20/02/19:

    Posted On February 20, 2019 - 3:34 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $65.79 a barrel onTuesday, 19 February 2019, compared with $66.03 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 Light […]

  • Transocean Ltd. Reports Full Year 2018 Results

    Posted On February 20, 2019 - 12:01 PM | by Oil and gas press -

    Total contract drilling revenues were $748 million, compared with $816 million in the third quarter of 2018; Revenue efficiency(1) was 96%, compared with 95% in the prior quarter; Operating and maintenance expense was $497 million, compared with $447 million in the prior period; Net loss attributable to controlling interest was $242 million, $0.48 per diluted […]

  • Sonatrach and CHEC sign contract for the extension of the Skikda oil port

    Posted On February 18, 2019 - 2:22 PM | by Oil and gas press -

    The Sonatrach Group and the Chinese company China Harbor Engineering Company (CHEC) signed in Algiers a contract for the study, supply and construction of an LNG marine jetty and marine and port infrastructure located in the port of Skikda hydrocarbons called “El Djedid”. With a contractual amount of nearly 53 billion DA, this project, consisting […]

  • Nigeria slashes unit cost of petrol for 5 days for election reasons

    Posted On February 18, 2019 - 12:02 PM | by Oil and gas press -

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reportedly said petroleum will be sold across the country from Wednesday, February 20th at N140/litre. A statement released by Chinedu Okoronkwo, IPMAN’s National President, said the slash in price will last five days and end on the 25th of February. IPMAN says the decision is to […]

  • PG&E does not endorse Baker Mills’ unsolicited mini-tender offer

    Posted On February 16, 2019 - 11:17 AM | by Oil and gas press -

    PG&E Corporation (NYSE: PCG) announced that it received notice of an unsolicited “mini-tender” offer from Baker Mills LLC (“Baker Mills”), dated February 4, 2019. Baker Mills has offered to purchase up to 200,000 shares of PG&E Corporation common stock, which represents approximately 0.04% of the outstanding shares of PG&E Corporation common stock, at a price […]

  • Nigeria’s Presidential election Postponed to 23 Feb

    Posted On February 16, 2019 - 10:48 AM | by Oil and gas press -

    The Independent National Electoral Commission has decided to shift Saturday’s presidential and National Assembly elections till next week 23 February. The governorship and house of assembly, FCT area council elections have also been shifted from 2 March to 9 March. INEC chairman, Professor Mahmood Yakubu confirmed NAN report of the shift of the presidential election, […]

  • New wells drilled in Shahdeniz-2 in Azerbaijan

    Posted On February 15, 2019 - 2:20 PM | by Oil and gas press -

    15 wells in total for Shah Deniz 2 production and subsequent ramp up, and have completed four wells on the North Flank, four wells on the West Flank and three wells on the East South Flank. Drilling operations will continue to deliver all wells required to ramp up to plateau level, according to BP. During […]

  • Fluor Awarded Contract in China

    Posted On February 15, 2019 - 12:25 PM | by Oil and gas press -

    Fluor Corporation (NYSE: FLR) announced today that it was awarded the engineering, procurement and construction management contract for Valvoline’s new blending and packaging facility in Zhangjiagang, China. The project is Valvoline’s first plant in China. Fluor booked the undisclosed contract value in the fourth quarter of 2018. “With the growing automotive market in China, Fluor […]

  • Rowan Announce Contract Petronas Mexico

    Posted On February 15, 2019 - 9:52 AM | by Oil and gas press -

    Rowan Companies plc (“Rowan” or the “Company”) (NYSE: RDC) announced that the Rowan Renaissance, an R-Class ultra-deepwater drillship, has been awarded a one-well contract in Mexico by PC Carigali Mexico Operations, S.A. de C.V. (“Petronas”) for an estimated duration of 80 days that is expected to commence in the second quarter of 2019. Following the […]

  • Rowan Announce Contract Extension With Exxonmobil

    Posted On February 15, 2019 - 9:46 AM | by Oil and gas press -

    Rowan Companies plc (“Rowan” or the “Company”) (NYSE: RDC) announced that ExxonMobil has exercised the third of four options for the Rowan Relentless, an R-Class ultra-deepwater drillship. The option will be used for operations in the US Gulf of Mexico and has an expected duration of 180 days. The Rowan Relentless has been under contract […]

  • Gazprom and Uniper discuss gas supplies and Nord Stream 2

    Posted On February 15, 2019 - 9:12 AM | by Oil and gas press -

    A meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Bernhard Reutersberg, Chairman of the Supervisory Board of Uniper, took place in Saint Petersburg where the parties discussed ongoing and future cooperation, including Russian gas supplies to Germany. It was noted that the amount of gas exports to the country was maintained at […]

  • European aerospace industry of tomorrow

    Posted On February 14, 2019 - 7:04 PM | by Oil and gas press -

    Airbus and Dassault Systèmes have signed a five-year Memorandum of Agreement (MOA) to cooperate on the implementation of collaborative 3D design, engineering, manufacturing, simulation and intelligence applications. This will enable Airbus to take a major step forward in its digital transformation and lay the foundation for a new European industrial ecosystem in aviation. Under the […]

  • India , Nigeria Pledge Deeper Collaboration on Energy Sector

    Posted On February 14, 2019 - 5:57 PM | by Oil and gas press -

    Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries. The consensus came on the heels of a visit in Abuja of the Indian High Commissioner to Nigeria, His Excellency, Abhay Thakur, to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti […]

  • ENERGY NEWSTRACK TO 14/02/19:

    Posted On February 14, 2019 - 5:11 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $62.94 a barrel on Wednesday, 13 February 2019, compared with $61.88 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 […]

  • KBR Awarded Contract In Saudi Arabia

    Posted On February 14, 2019 - 11:38 AM | by Oil and gas press -

    KBR, Inc. (NYSE: KBR) announced it had been awarded a contract by SATORP (a joint venture between Saudi Aramco and Total) to debottleneck Train 2 of its existing 440,000 barrels per day refinery in Jubail, Kingdom of Saudi Arabia (KSA). The debottlenecking project is expected to increase the original refinery’s throughput by 15% once completed […]

  • MHPS Tops Heavy Duty Gas Turbines Market

    Posted On February 13, 2019 - 9:00 AM | by Oil and gas press -

    Mitsubishi Hitachi Power Systems (MHPS) has achieved a major milestone in the global Power Generation sector, securing 2018 market share leadership in global orders for heavy duty gas turbines (100 MW and above). The result is based on data compiled by McCoy Reports, the premier reporting agency in the gas turbine market. This segment is […]

  • ”Start your digital journey“: Implico to promote digital transformation at StocExpo Europe

    Posted On February 11, 2019 - 5:49 PM | by Tobias Piwek -

    Market leader EMEA for terminal management systems will showcase new products and innovations for the tank storage industry in Rotterdam The oil and gas specialist Implico will attend this year’s StocExpo in Rotterdam under the motto “Start your digital journey”. From 26 to 28 March 2019, the international software and consulting company will exhibit its […]

  • Uber Boat in Mumbai

    Posted On February 11, 2019 - 4:36 PM | by Oil and gas press -

    Uber, the world’s largest ridesharing company, announced a pilot launch of Uber Boat service in Mumbai, in partnership with Maharashtra Maritime Board. The on-demand service will provide transportation from three of the city’s popular coastal routes namely Gateway of India, Elephanta Islands and Mandwa Jetty, via speed boats. Starting February 1, riders can access two […]

  • Washington Eyes Crackdown On OPEC

    Posted On February 11, 2019 - 12:30 PM | by Oil and gas press -

    Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the U.S. Justice Department to sue members of OPEC for manipulating the oil market. The so-called “NOPEC” bill would remove sovereign immunity, exposing member countries to […]

  • Bill allowing U.S. to sue OPEC moves forward

    Posted On February 11, 2019 - 10:53 AM | by Oil and gas press -

    Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, which would subject the cartel to possible […]

  • Shelf Drilling secures a six-month contract extension

    Posted On February 11, 2019 - 10:40 AM | by Oil and gas press -

    Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) announced today that it has secured a six-month contract extension on the Shelf Drilling Resourceful jack-up rig in direct continuation of its current contract for drilling operations offshore Nigeria. Source / More : Shelf Drilling Oil and Gas News Undiluted !!! “Oil is well” Please […]

  • Zhonghua Gas Announces Increase of 90% Net Profit for the FY2018

    Posted On February 11, 2019 - 10:06 AM | by Oil and gas press -

    Zhonghua Gas Holdings Limited (the “Company”; Stock Code: 8246) together with its subsidiaries (collective namely the “Group”) today announces that the Group is expected to record a significant increase in consolidated net profit for the year ended 31 December 2018 (the “Current Year”) of approximately 90% as compared to that for the year ended 31 […]

  • Saudi Aramco employee receives Fellowship from MIT

    Posted On February 11, 2019 - 9:58 AM | by Oil and gas press -

    Saudi Aramco fellow Ali Dogru has been recognized by the Massachusetts Institute of Technology’s (MIT) Earth Resources Laboratory (ERL) and the Department of Earth, Atmospheric and Planetary Sciences (EAPS) with a new Fellowship honoring leading researchers in geophysics, and related areas. Dogru is among the first class of ERL Fellows, which also includes Dirk Smit, […]

  • Gazprom and Inter State Gas Systems sign MoU

    Posted On February 7, 2019 - 10:58 AM | by Oil and gas press -

    Gazprom delegation headed by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, paid a visit to the Islamic Republic of Pakistan where they met with, Vitaly Markelov and Mobin Saulat, Managing Director of Inter State Gas Systems (Private) Ltd., Both parties signed a Memorandum of Understanding. The document, which serves as a follow-up to […]

  • Canadian Natural Update on the South Africa Block 11B/12B

    Posted On February 7, 2019 - 10:33 AM | by Oil and gas press -

    Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces in connection with its 20% working interest in the South Africa Block 11B/12B (“the Block”), the operator of the exploration well, Total E&P South Africa B.V. (“Total”) has issued a press release with updates related to the discovery of significant gas condensate on the prospect. […]

  • Total proposes a final dividend of 0.64 €/share

    Posted On February 7, 2019 - 9:08 AM | by Oil and gas press -

    The Board of Directors met on February 6, 2019, and decided to propose to the Shareholders’ Meeting, which will be held on May 29, 2019, the distribution of an annual dividend of 2.56 €/share for fiscal year 2018, an increase of 3.2% compared to 2017, in accordance with the 2018 20 shareholder return policy announced […]

  • NNPC, Nigeria Police Renew Synergy on Anti-Pipeline Vandalism Campaign

    Posted On February 6, 2019 - 2:48 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) and the Nigeria Police have pledged to work together in a renewed drive to combat the perennial menace of oil theft and pipeline vandalism across the country. Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, stated in a release Tuesday in Abuja that the […]

  • Green taxis to benefit from new chargepoints in United Kingdom

    Posted On February 6, 2019 - 1:46 PM | by Oil and gas press -

    The UK government has awarded more than £6 million to support ultra-low emission taxis right across the country, furthering its ambition for a zero emission future. Announced at the Smart Transport conference by the Future of Mobility Minister, the funding will see almost 300 rapid chargepoints and 46 fast chargepoints installed for ultra-low emission taxis […]

  • Nigerian National Petroleum Corporation Increases Gas Supply to Power

    Posted On February 5, 2019 - 4:09 PM | by Oil and gas press -

    A total of 735 Million Standard Cubic Feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared with October 2018 where an average of 627mmscfd was supplied, a release by the Nigerian National Petroleum Corporation Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said in Abuja. Details […]

  • Neas Energy A/S becomes Centrica Energy Trading A/S

    Posted On February 5, 2019 - 2:09 PM | by Oil and gas press -

    Centrica subsidiary, Neas Energy A/S changes company name to Centrica Energy Trading A/S as it becomes fully integrated with Centrica Energy Marketing & Trading uniting activities, growth strategy and company culture across multiple office locations. Neas Energy was acquired by Centrica in 2016 in line with Centrica’s strategy to expand and diversify its route to […]

  • African Oil Industry Endorses Cape VII Congress

    Posted On February 5, 2019 - 1:46 PM | by Oil and gas press -

    The African Energy Chamber is proud to endorse the APPO Cape VII Congress and Exhibition to be held in Malabo on April 2-5, 2019. Hosted by the African Petroleum Producers Organization under the Auspices of President Obiang Nguema Mbasogo, the summit will include a first-level meeting of oil ministers from the four corners of the […]

  • British demand for alternatively fuelled vehicles surges

    Posted On February 5, 2019 - 1:18 PM | by Oil and gas press -

    The UK’s new car market dipped -1.6% in January, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 161,013 new cars were registered for use on UK roads, with trends in fuel choice seen last year continuing in the first month of 2019. Following a decline in December, […]

  • Shell, ExxonMobil, and Chevron Post Best Results In Years

    Posted On February 5, 2019 - 11:18 AM | by Oil and gas press -

    Despite the nearly 40-percent oil price slide in the fourth quarter, supermajors booked solid sets of Q4 and 2018 results, suggesting that they have learned to raise profits even when oil prices are well below $100 a barrel and may never return to the triple-digit mark. Three of Big Oil’s five—Shell, ExxonMobil, and Chevron—reported strong […]

  • Equinor and partners award contract to Wergeland Base

    Posted On February 5, 2019 - 10:57 AM | by Oil and gas press -

    Gulen Industrial Harbour in Sogn og Fjordane county has been awarded the contract for assembly site for the floating Hywind Tampen wind turbines before they are transported to the field in the North Sea. No work will commence prior to an investment decision for Hywind Tampen. Hywind Tampen could become the world’s first project to […]

  • Chevron Announces Senior Leadership Appointments

    Posted On February 5, 2019 - 9:49 AM | by Oil and gas press -

    Chevron Corporation (NYSE:CVX) named Pierre Breber vice president and chief financial officer, effective April 1, 2019. Breber replaces Patricia Yarrington who has elected to retire after 38 years of extraordinary service with the company. In related moves, Mark Nelson, currently vice president Midstream, Strategy & Planning, will succeed Breber as executive vice president of Downstream […]

  • Bentley Motors maintains Top Employer Status

    Posted On February 4, 2019 - 4:25 PM | by Oil and gas press -

    Bentley Motors has again been named as a Top Employer by the internationally recognised Top Employer Institute who commended the company’s commitment to professional development and nurturing of future talent. The award is the eighth successive year Bentley has been recognised and is presented at the same time that the company and its 4,000-strong workforce […]

  • CME Group Averaged 17.8 Million Contracts Per Day in January 2019

    Posted On February 4, 2019 - 4:03 PM | by Oil and gas press -

    CME Group, reached average daily volume (ADV) of 17.8 million contracts per day in January 2019, down 6 percent from January 2018. Open interest at the end of January was 122 million contracts, down 1 percent from January 2018 and up 5 percent from year-end 2018. Equity Index volume averaged 3.3 million contracts per day […]

  • CNOOC Announce a New Discovery in UK North Sea

    Posted On February 4, 2019 - 11:49 AM | by Oil and gas press -

    CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced a new discovery on the Glengorm prospect, located in offshore UK Central North Sea. The Glengorm discovery is located in License P2215 with a water depth of approximately 86 meters. The exploration well Glengorm was drilled to a total depth of 5,056 meters and […]

  • Google’s GDPR fine to cost it more than just €50m

    Posted On January 31, 2019 - 1:46 PM | by Oil and gas press -

    On January 21, 2019, the CNIL’s restricted training pronounced a sanction of 50 million euros against the company GOOGLE LLC in application of the RGPD for lack of transparency, unsatisfactory information and lack of valid consent for the personalization of advertisement. The complaints were brought by two French privacy advocacy organizations shortly after the new […]

  • Medco to buy Ophir in £390m deal

    Posted On January 31, 2019 - 10:39 AM | by Oil and gas press -

    The boards of Medco, Medco Global and Ophir announced that they have reached agreement on the terms of a recommended acquisition pursuant to which Medco Global will acquire the entire issued and to be issued ordinary share capital of Ophir (other than any ordinary shares held by Ophir in treasury) (the “Acquisition”). It is anticipated […]

  • Shell announces the third tranche of the share buyback programme

    Posted On January 31, 2019 - 9:52 AM | by Oil and gas press -

    Royal Dutch Shell plc (the ‘company’) today announces the commencement of trading in the third tranche of its share buyback programme previously announced on July 26, 2018. In the third tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares […]

  • Chevron Announces Increase in Quarterly Dividend

    Posted On January 31, 2019 - 9:27 AM | by Oil and gas press -

    The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and nineteen cents($1.19) per share, payable March 11, 2019, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 15, 2019. This increase puts Chevron on track […]

  • 19 suspects and two boats handed over to to EFCC

    Posted On January 30, 2019 - 1:42 PM | by Oil and gas press -

    The Nigerian Navy has reportedly handed over 19 suspects and two fibre boats laden with petroleum products to the Economic and Financial Crimes Commission, EFCC, for further investigation and prosecution, local news agencies reported. They were arrested on August 30, 2018 in Lagos and some parts of Ondo State and are alleged to be involved […]

  • Asharami Synergy ISO Certified for Quality Management Systems

    Posted On January 29, 2019 - 7:05 PM | by Oil and gas press -

    Asharami Synergy Plc (a Sahara Group Company), has been awarded the ISO 9001:2015 Certification, an internationally recognized standard for organisations whose services and products meet the needs of customers through an effective quality management system. The organisation was audited and found to meet the requirements of the aforementioned management systems based on industry best practice. […]

  • Lekoil Update Re: Application for a Declaration regarding Ministerial Consent on OPL 310

    Posted On January 29, 2019 - 6:56 PM | by Oil and gas press -

    LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, provides an update on OPL310 (the “Block”) with reference to the Company’s Application for a Declaration regarding Ministerial Consent filed at the Federal High Court, Lagos on March 28, 2018. Further to the Company’s announcement on 23 January […]

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