News

  • Hess Named to Dow Jones Sustainability Index (DJSI) N. America

    Posted On September 17, 2019 - 5:45 PM | by Oil and gas press -

    Hess has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the tenth consecutive year. The index, which recognizes public companies for outstanding performance across economic, environmental and social factors, is used as a reference by shareholders who consider sustainability when making investment decisions. Only the most sustainable companies in […]

  • Etihad Stadium leading the way toward greener future

    Posted On September 16, 2019 - 1:40 PM | by Oil and gas press -

    A new study from FOOTY.com has named the Etihad the greenest stadium in the world. The study, which scored the stadiums of domestic winners for their eco-incentives, found the UK’s Man City ground to be doing the most to make the world a more environmentally friendly place. Out of a possible score of 90, the […]

  • Crude prices Rise

    Posted On September 16, 2019 - 12:53 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $60.02 a barrel on Friday, compared with $60.51 the previous day, according to OPEC Secretariat calculations. Oil prices surged Monday after an attack on Saudi Arabia’s largest oil processing plant halted output of more than 5.7 million barrels of crude a day. WTI U.S. crude […]

  • Drone attack on Saudi Arabia is a ‘turning point’ for world fuel supplies

    Posted On September 16, 2019 - 10:34 AM | by Oil and gas press -

    The drone attacks on a refinery and an oil field in Saudi Arabia disrupted the supply of some 5.7million barrels per day, or 5 per cent of global supply, with experts warning that petrol prices could rise by up to 24 cents per gallon in the US and four pence per litre in the UK […]

  • Shale Slowdown Affects U.S. Oil & Gas Jobs

    Posted On September 16, 2019 - 10:13 AM | by Oil and gas press -

    The US economy is rapidly deteriorating and currently experiencing a growth rate cycle downturn in employment, industrials, and inflation. One reason for the slowdown could be due to the oil and gas industry. Reuters reports oil and gas employment has declined as producers and service firms quickly cut back on operations due to a sharp […]

  • Japan Minister wants to scrap nuclear power

    Posted On September 16, 2019 - 10:00 AM | by Oil and gas press -

    Japan’s newly appointed environment minister has said he wants to “scrap” nuclear power plants, warning of the need to avoid a repeat of the 2011 Fukushima nuclear disaster. The comments from Shinjiro Koizumi, a rising political star and son of former Prime Minister Junichiro Koizumi, are his first on the controversial issue since he was […]

  • Court Orders Dome to Transfer Final 20% of Reid’s Dome Project PL 231 to State Gas

    Posted On September 16, 2019 - 9:32 AM | by Oil and gas press -

    Brisbane-based gas developer State Gas Limited (ASX:GAS) is pleased to advise on the outcome of proceedings in the Supreme Court of Queensland in respect of its acquisition of the final 20% interest in PL 231 and the Reid’s Dome Joint Venture. Highlights State Gas Limited successful in Supreme Court action to acquire final 20% interest […]

  • Houthi drone attacks on Saudi oil facilities

    Posted On September 15, 2019 - 3:27 PM | by Oil and gas press -

    Officials at Saudi Press Agency said on Saturday the blazes at the facilities in Abqaiq, which has a estimated crude oil processing capacity of 7 million barrels per day (bpd) and Khurais were under control. “At 4.00am (01:00 GMT) the industrial security teams of Aramco started dealing with fires at two of its facilities in […]

  • Xenophobia:, Nigerians repatriated from South Africa after attacks

    Posted On September 12, 2019 - 3:06 PM | by Oil and gas press -

    Nigerian airline to return more than 600 nationals Nigeria began repatriating more than 600 of its citizens from South Africa following a wave of deadly xenophobic attacks that soured relations among neighbouring nations.Nigerians, Ethiopians, Congolese, and Zimbabweans were attacked, according to local media. Private Nigerian airline Air Peace volunteered to fly people for free back […]

  • Nigeria FG to Deliver Four FIDs

    Posted On September 12, 2019 - 10:15 AM | by Oil and gas press -

    The Federal Government has revealed plans to deliver Final Investment Decisions (FIDs) on at least four key projects within the nation’s oil and gas industry by the end of last quarter this year. Minister of State for Petroleum Resources, Chief Timipreye Sylva, who represented the President of the Federal Republic of Nigeria disclosed this while […]

  • Equinor Update on status in the Bahamas

    Posted On September 11, 2019 - 1:18 PM | by Oil and gas press -

    The situation for the people on the Bahamas continues to be very challenging. Equinor has an ongoing operation to respond to and clean up the oil spill in the Bahamas. Equinor has a team working at South Riding Point terminal Bahamas including an advanced onshore response team with oil spill technical specialist. In total more […]

  • Mis-selling of solar panels in UK

    Posted On September 10, 2019 - 8:02 AM | by Oil and gas press -

    Thousands of home-owners in the UK who bought solar panels have complained that they’re not reaping the rewards they were promised. The Financial Ombudsman Service has received 2,000 complaints and Barclays has put aside millions to compensate those who took on costly loans to pay for mis-sold panels. According to a ruling on the Financial […]

  • Duke Oil relocates to Dubai

    Posted On September 9, 2019 - 11:40 AM | by Oil and gas press -

    The trading arm of the Nigerian National Petroleum Corporation (NNPC), Duke Oil, is leaving London to set up in Dubai to be closer to the Asian market, which is fast becoming the main buyer of Nigeria’s crude oil. While Nigeria once sold much of its oil to the United States, the shale boom displaced that, […]

  • LEKOIL gets three-year extension Extension on OPL 310 Licence

    Posted On September 9, 2019 - 11:35 AM | by Oil and gas press -

    LEKOIL (AIM: LEK), the Africa-focused oil and gas exploration, development and production company, is pleased to announce that pursuant to a letter dated 4 September 2019, the Federal Government of Nigeria and the Ministry of Petroleum Resources has approved the extension of OPL 310’s (“the Block”) exploration licence for three (3) years, subject to the […]

  • NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

    Posted On September 9, 2019 - 10:35 AM | by Oil and gas press -

    Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice Admiral […]

  • Oil Prices Today

    Posted On September 6, 2019 - 11:24 AM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $60.58 a barrel on Thursday, 5 September 2019 compared with $58.97 the previous day, according to OPEC Secretariat calculations. WTI Crude was US$56.43/barrel and Brent Crude US$60.97/barrel Vitol, the world’s biggest independent oil trader, expects oil prices to weaken in the fourth quarter this year, […]

  • Man told to remove his pro-oil and gas shirt during Senate tour

    Posted On September 6, 2019 - 10:11 AM | by Oil and gas press -

    A Calgary man on a recent tour of the Senate was told to remove a shirt that displayed his support for the oil and gas industry. William Lacey, a chief financial officer for Steelhead Petroleum Ltd., wore a shirt said “I (heart) (maple leaf) OIL & GAS” during a tour of the Senate over the […]

  • NSE Downgrades Oando To Low Priced Stock

    Posted On September 6, 2019 - 9:54 AM | by Oil and gas press -

    The Nigerian Stock Exchange (NSE) on Thursday downgraded Oando Plc to low priced stock. The exchange said that Oando had been reclassified to low priced stock from medium-priced stock, effective from Sept. 5. “This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules),” the NSE said in a […]

  • ExxonMobil Drops Out of Top 10 in S&P 500

    Posted On September 6, 2019 - 9:41 AM | by Oil and gas press -

    The hydrocarbon energy industry was recently dealt a major blow, with Exxon Mobil Corporation XOM dropping from the S&P 500 Index’s top 10 companies, ending a nine-decade-long streak. This August, energy stocks climbed down the ranking list, giving way to technology stocks. Currently, the top 10 places are occupied by companies from technology, communications, health […]

  • 2020 U.S Election Could Put Oil Out Of Business

    Posted On September 5, 2019 - 3:09 PM | by Oil and gas press -

    The Democratic presidential candidates are gearing up for a lengthy town hall event on CNN covering climate change, where they will discuss a range of plans that will entirely upend the U.S. energy sector. In the last few months, the candidates have tried to outdo each other as they released ever more aggressive plans on […]

  • NNPC, Navy to Deepen Collaboration to Stem Crude Oil Theft

    Posted On September 5, 2019 - 2:59 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Navy have pledged to deepen collaboration to tackle the menace of crude oil theft and attacks on oil and gas facilities. The two organisations came to the resolution when the NNPC GMD, Mallam Mele Kyari paid a courtesy visit to the Chief of Naval Staff, Vice […]

  • Hess Announces Regular Quarterly Dividend On Common Stock

    Posted On September 5, 2019 - 9:28 AM | by Oil and gas press -

    The Board of Directors of Hess Corporation (NYSE: HES) declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on September 30, 2019 to holders of record at the close of business on September 16, 2019. Source / More : Hess Oil and Gas News Undiluted !!! […]

  • Oil & Gas Bankruptcies

    Posted On September 4, 2019 - 2:30 PM | by Oil and gas press -

    Wall Street Gears Up For Onslaught Of Oil & Gas Bankruptcies Oil and gas companies are facing an onslaught of bankruptcies as the “shale revolution” appears to be coming to an unceremonious end, at least on Wall Street, according to the Wall Street Journal.  Companies like Sanchez Energy Corp., Halcon Resources Corp. and 26 other oil and gas producers […]

  • NEBOSH unveils new-look General Certificate

    Posted On September 4, 2019 - 12:07 PM | by Oil and gas press -

    The most trusted health and safety qualifications in the world – the NEBOSH National and International General Certificate in Occupational Health and Safety – have been updated with the input of 3,000 of the sectors leading experts and organisations. Listening to what businesses needed their managers to know and do, the refreshed qualifications now even […]

  • Self-driving cars of the future

    Posted On September 3, 2019 - 2:03 PM | by Oil and gas press -

    Waymo, as well as Honda, Uber and Lyft, penned a letter to NHTSA asking for progress to be made in refining the rules to help streamline the development of autonomous cars. The governing body is in a tricky position with existing laws and has been grappling for more than three years to address the problem […]

  • Ag barometer declines sharply as commodity prices weaken

    Posted On September 3, 2019 - 1:41 PM | by Oil and gas press -

     The Purdue University/CME Group Ag Economy Barometer weakened significantly in August to a reading of 124, down 29 points from July. The barometer is based on a mid-month survey of 400 agricultural producers across the U.S. and was conducted between August 12 and August 20, 2019, with nearly all of the responses collected following USDA’s release of the August […]

  • Shell upstream showcases future plans

    Posted On September 3, 2019 - 11:39 AM | by Oil and gas press -

    Shel is investing $700-800 million in the UK Continental Shelf annually and Steve Phimister is confident this level of outlay will be sustained for the next few years. Mr Phimister, vice-president of Shell’s UK upstream business, highlighted the company’s ambitious drilling plans for the basin. Shell remains in the hunt for “bolt-on” acquisitions and farm […]

  • Fire at ONGC Plant Hits Supply

    Posted On September 3, 2019 - 10:57 AM | by Oil and gas press -

    Several CNG stations were shut in Mumbai after a massive blaze at an ONGC plant in Navi Mumbai’s Uran, which killed four people, hit gas supply. Mahanagar Gas Limited (MGL) that supplies both CNG and PNG in Mumbai Metropolitan Region said in a statement: “Due to a major fire at ONGC’s gas processing facility at […]

  • Saudi Aramco Appoints new Chairman

    Posted On September 3, 2019 - 10:43 AM | by Oil and gas press -

    Saudi Aramco welcomes H.E. Yasir Othman Al-Rumayyan as new Chairman of its board of directors . H.E. Al-Rumayyan was appointed a member of the Company’s Board of Directors in 2016 and is currently the Governor of the Public Investment Fund. Source / More : Saudi Aramco Oil and Gas News Undiluted !!! “Oil is well” […]

  • Launch of online automatic SCAL simulator

    Posted On September 2, 2019 - 1:29 PM | by Oil and gas press -

    PanTerra announced the release of its new online software tool “AutoSCORES” (AUTOmatic Special CORE analysis Simulator). It is well known that relative permeability and capillary pressure interfere with one another during SCAL laboratory experiments. As an example: apparent residual oil is typically 10 to 15 saturation units too high which may have a significant business […]

  • JMMC commitment to maintain market stability at times of uncertainties

    Posted On September 2, 2019 - 12:48 PM | by Oil and gas press -

    The Joint Ministerial Monitoring Committee (JMMC) has reviewed the monthly report prepared by its Joint Technical Committee (JTC) and recent developments in the global oil market, as well as near-term prospects in 2019 and 2020. The JMMC noted the overall conformity of 159% in July 2019 was 22 pp higher than in June 2019, and […]

  • Innovative Low-Carbon Technology

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

    Cemvita Factory and Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental, announced that they have reached an investment agreement. OLCV’s investment will advance the development of new bio-engineered pathways that use CO2 as feedstock for sustainable production of intermediate chemicals and polymers. Cemvita Factory is a Houston-based biotechnology startup focused on creating economical […]

  • BHGE Awarded Contract by Venture Global LNG for Calcasieu Pass Project

    Posted On August 29, 2019 - 9:21 AM | by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE) announced that it has been awarded a contract and granted notice to proceed on the construction of its comprehensive LNG technology solution for Venture Global LNG’s Calcasieu Pass project. The final notice to proceed (FNTP) follows Venture Global’s Final Investment Decision and Financial Close for Calcasieu Pass and […]

  • Electric vehicles depreciate twice as quickly as petrol cars

    Posted On August 28, 2019 - 3:20 PM | by Oil and gas press -

    The rapid development of plug-in vehicles means electric cars on sale today are quickly outdated and become worth much less when it comes time to sell, a new study shows. The average electric model drops in value by 41 per cent after three years – that compares to 24 per cent for petrol cars and […]

  • Egyptian Oil Industry Poised to Support South Sudan Growth

    Posted On August 28, 2019 - 11:57 AM | by Oil and gas press -

    Egypt’s Petroleum Minister H.E. Tarek El-Molla will speak at the South Sudan Oil and Power 2019 (SSOP) conference alongside South Sudan Minister of Petroleum Hon. Awow Daniel Chuang; South Sudan’s Ministry of Petroleum calls for oilfield technology companies from Egypt and globally to optimize oilfields, increase production and improve environmental performance; Together South Sudan and […]

  • Chevron VP Presents Permian Performance Webcast at Barclays Conference

    Posted On August 27, 2019 - 7:19 PM | by Oil and gas press -

    Jeff Gustavson, Vice President, Chevron North America Exploration & Production Mid-Continent Business Unit, will deliver a presentation to the Barclays 2019 CEO Energy – Power ConferenceWednesday, September 4th, 2019 at 8:25 AM EDT. Gustavson will discuss Chevron’s performance in the Permian Basin in Texas and New Mexico. Source / More : Chevron Oil and Gas […]

  • TechnipFMC Reshaping Our Future

    Posted On August 27, 2019 - 5:27 PM | by Oil and gas press -

    TechnipFMC plc (“TechnipFMC”) (NYSE: FTI) (Paris: FTI) (ISIN: GB00BDSFG982) announces the availability of its full presentation, Reshaping Our Future, in connection with its teleconference on Monday, 26 August 2019 to discuss TechnipFMC’s plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development; and […]

  • Barclays CEO Energy-Power Conference

    Posted On August 23, 2019 - 2:28 PM | by Oil and gas press -

    Hess Corporation (NYSE: HES) announced today that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on September 5, 2019 at 7:45 a.m. ET. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available on  Hess.com

  • Microseismic event stops Preston New Road operations

    Posted On August 22, 2019 - 11:47 AM | by Oil and gas press -

    Cuadrilla was forced to halt fracking at its shale gas site near Blackpool in Lancashire on Wednesday night after triggering the largest tremor recorded at the location. A spokesman for Cuadrilla confirmed that micro seismicity had been detected at 8.46pm by the highly sophisticated monitoring system in place at the shale gas exploration site at […]

  • OPEC Turns Bearish On Oil

    Posted On August 21, 2019 - 4:27 PM | by Oil and gas press -

    OPEC sees a “somewhat bearish” outlook for the rest of 2019, even as supplies remain tight in the short run. In its latest report, OPEC only slightly downgraded its forecast for global oil demand, lowering it to 1.10 million barrels per day (mb/d) for 2019, down only a minor 0.04 mb/d from a month earlier. […]

  • U.S. Is Now Largest Oil and Gas Producer In The World

    Posted On August 21, 2019 - 3:56 PM | by Oil and gas press -

    Petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas, the Energy Information Administration (EIA) said on Tuesday. The U.S. had already surpassed Russia as the world’s biggest […]

  • UK shale gas reserves up to 80% lower than previously thought

    Posted On August 21, 2019 - 12:43 PM | by Oil and gas press -

    Controversial fracking in the UK could be doomed after a study found that the amount of gas it produces could be significantly lower than previously thought. Estimates that Britain had the equivalent of enough gas to supply the UK for 50 years were seized on by politicians including former Prime Minister David Cameron. He said […]

  • Equatorial Guinea to build West Africa’s first Liquefied Natural Gas (LNG) storage and regas plant

    Posted On August 20, 2019 - 5:18 PM | by Oil and gas press -

    Located at the Port of Akonikien, the landmark regasification plant will enable the storage, transportation and distribution of liquefied natural gas (LNG) to the country’s mainland; 12 bullet tanks will carry 14,000 cubic meters of storage capacity, supported by a truck loading station and 12-kilometers of ten-inch gas and diesel pipelines; The project will be […]

  • World’s largest all-electric ferry

    Posted On August 20, 2019 - 5:08 PM | by Oil and gas press -

    The world’s largest all-electric ferry completed its first voyage with passengers last week in Denmark. The Ellen sailed between the southern Danish ports of Fynshav to Soby, on the island of Aero. The e-ferry is capable of carrying 30 vehicles and 200 passengers and is powered by a battery “with an unprecedented capacity” of 4.3MWh, […]

  • TGS Awarded Five-Year Contract Extension by BSEE

    Posted On August 17, 2019 - 10:36 AM | by Oil and gas press -

    TGS-NOPEC Geophysical Company (TGS) has been awarded a five-year contract for Digital Well Log Data Processing with the United States Department of the Interior, Bureau of Safety and Environmental Enforcement (BSEE), a federal agency tasked with overseeing offshore oil and gas activities. TGS has been providing Digital Well Log Data Processing services to BSEE since […]

  • CNPC and Benin sign pipeline construction and operation agreement

    Posted On August 17, 2019 - 10:08 AM | by Oil and gas press -

    On August 5, China National Petroleum Corporation signed the Niger-Benin Pipeline Construction and Operation Agreement with the Republic of Benin. The pipeline will run from Agadem in Niger to Port Seme on the Atlantic coast in Benin.The more than1,900-kilometer pipeline, including 687 kilometers in Benin, is the largest cross-border crude pipeline invested by CNPC in […]

  • Nigeria-Morocco Gas Pipeline project

    Posted On August 15, 2019 - 2:29 PM | by Oil and gas press -

    The Nigeria-Morocco Gas Pipeline (NMGP) project would open new vistas for Nigeria’s gas aspirations, the Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, has said. Mallam Kyari disclosed this Tuesday in Abuja at a stakeholders’ engagement involving the corporation, its Moroccan partner on the Gas Project, the Morocco National Office for […]

  • ExxonMobil Expresses Confidence in Nigeria’s Oil & Gas Industry

    Posted On August 15, 2019 - 2:25 PM | by Oil and gas press -

    The Chairman and Managing Director of ExxonMobil companies in Nigeria, Mr. Paul McGrath, has expressed confidence and optimism in the Nigerian petroleum industry particularly the future of its business relationship with the Nigerian National Petroleum Corporation (NNPC) under the Mallam Mele Kyari-led Management team. Mr. McGrath, during a courtesy visit to the NNPC GMD in […]

  • Electric car charging sites overtake fuel stations in the UK

    Posted On August 15, 2019 - 9:35 AM | by Oil and gas press -

    Electric car owners have almost 1,000 more places to charge up than those with petrol or diesel vehicles. There are 9,300 battery vehicle charging stations in the UK, compared with 8,400 fuel stations, according to the website Zap-Map. Electric-only vehicle sales are up 70 per cent with helpful perks such as road tax exemption and, […]

  • Scientists say global methane emissions has come from exploiting shale gas

    Posted On August 14, 2019 - 5:34 PM | by Oil and gas press -

    The boom in fracking for shale gas has ‘dramatically increased’ global methane emissions in the past decade, a study has warned. Much of the rapid rise in levels of methane, a significant greenhouse gas has been attributed to cows, tropical wetlands and rice fields but fracking also played a role. Researchers from Cornell University looked […]

  • Australia in talks with the US to buy millions of barrels of oil

    Posted On August 6, 2019 - 12:38 PM | by Oil and gas press -

    The Morrison government is negotiating with the Trump administration to access the oil from America’s own fuel reserve, as Australia hunts for a way to address dwindling local supply. Energy Minister Angus Taylor says Australia now is in discussions with the US about tapping into the Strategic Petroleum Reserve. ‘The government has undertaken a second […]

  • NESR Announces Multiple Contract Awards in Saudi Arabia

    Posted On August 1, 2019 - 4:42 PM | by Oil and gas press -

    National Energy Services Reunited Corp. (“NESR” or the “Company”) , a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) and Asia Pacific regions, reported awards valued up to 2.5 Billion Saudi Riyal ($660 Million) for Coiled Tubing & N2, Stimulation Services and Cementing Services for a period of […]

  • GECAS provides Hongtu Airlines its first A320neo

    Posted On August 1, 2019 - 4:36 PM | by Oil and gas press -

    GECAS has delivered the first of four A320neo headed to Yunnan Hongtu Airlines (Hongtu Airlines). As announced at Farnborough 2018, Hongtu Airlines (operating as Air Travel) has agreed to lease four of the new-technology narrowbodies from GECAS’ skyline orderbook. This delivery marks the first LEAP-powered A320neo to enter service with Hongtu Airlines. Launching operations in […]

  • India cuts tax on electric vehicles to 5%

    Posted On July 31, 2019 - 6:49 PM | by Oil and gas press -

    The Indian government has announced on Saturday a major reduction in goods and services tax rate on electric vehicles (EV) from 12 per cent down to just 5 per cent. Additionally, the rate applicable to electric chargers and charging stations has been cut to 5% from 18%. To push EV sales, the government on July […]

  • Israel To Begin Exporting Natural Gas To Egypt Soon

    Posted On July 31, 2019 - 4:07 PM | by Oil and gas press -

    Israel is set to start natural gas exports to Egypt within four months, Israeli Energy Minister Yuval Steinitz told Reuters on Wednesday. Israel and Egypt, which mark this year 40 years since signing a peace treaty in 1979, have made meaningful advances in their natural gas industries in recent years and are competing to become Eastern Mediterranean’s next […]

  • Qatar Implements the IMF’s Enhanced General Data Dissemination System

    Posted On July 31, 2019 - 4:00 PM | by Oil and gas press -

    Qatar has launched a National Summary Data Page (NSDP) in implementing the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS). The e‑GDDS was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and surveillance. The NSDP is hosted […]

  • Neste hosts foundation stone ceremony for Singapore expansion

    Posted On July 31, 2019 - 1:11 PM | by Oil and gas press -

    Following up from the EUR 1.4 billion investment to expand its renewable products production capacity in Singapore, Neste today held a foundation stone ceremony to officially mark the extension of the new production line. The construction started at the beginning of the year. “The Singapore expansion marks an important step in the execution of our […]

  • Cuadrilla will return to hydraulic fracturing at Preston New Road

    Posted On July 30, 2019 - 11:12 AM | by Oil and gas press -

    British Onshore shale gas exploration operator Cuadrilla has successfully remobilised hydraulic fracturing equipment to its flagship Lancashire site in Preston New Road. Cuadrilla confirmed earlier this month that it will return to hydraulic fracturing and flow testing of natural gas at Preston New Road in the third quarter of 2019 and, subject to all required […]

  • Reform before we invest – U.S. firms tell Nigeria oil and gas sector

    Posted On July 30, 2019 - 8:02 AM | by Oil and gas press -

    Nigeria could attract more U.S. investment if the oil and gas sector becomes less opaque and a fuel-price peg is removed, according to a U.S. official. “Nigeria needs to think strategically about what is going to make it a more attractive destination,” Brent Omdahl, commercial counselor at the U.S. Department of Commerce, said in an […]

  • Cenovus Energy generates over $830 million in second-quarter free funds flow

    Posted On July 26, 2019 - 9:49 AM | by Oil and gas press -

    Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) reduced net debt to $7.1 billion in the second quarter after generating over $830 million in free funds flow. The company’s excellent financial performance was driven by higher realized oil prices, which contributed to oil sands operating margin of more than $1.0 billion. “Through focused operations and disciplined […]

  • Mubadala signs MoU to explore Petchem opportunities in Indonesia

    Posted On July 25, 2019 - 5:57 PM | by Oil and gas press -

    Mubadala, OMV and petrochemical leaders PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa signed a Memorandum of Understanding to explore opportunities for collaboration in the petrochemical sector in Indonesia. The agreement was signed by Musabbeh Al Kaabi, CEO of Petroleum and Petrochemicals Mubadala Investment Company, Dr. Rainer Seele, CEO of OMV and Erwin […]

  • NNPC to Guarantee Energy Security for Nigeria

    Posted On July 25, 2019 - 5:17 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation is set to leverage on the existing Direct-Sales-Direct-Purchase product supply arrangement to guarantee energy security for the nation. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kyari, made this commitment Wednesday at his maiden townhall meeting with staff of the corporation at the NNPC Towers, […]

  • BHP to invest US$400m to address climate change

    Posted On July 25, 2019 - 5:10 PM | by Oil and gas press -

    BHP announced a five-year, US$400m Climate Investment Program to develop technologies to reduce emissions from its own operations as well as those generated from the use of its resources. BHP CEO Andrew Mackenzie said: “Over the next five years this program will scale up low carbon technologies critical to the decarbonisation of our operations. It […]

  • Egypt-IMF Executive Board Completes Fifth Review

    Posted On July 25, 2019 - 10:49 AM | by Oil and gas press -

    On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion). This brings […]

  • Equinor declares dividends for second quarter 2019

    Posted On July 25, 2019 - 10:15 AM | by Oil and gas press -

    Key information relating to the cash dividend to be paid by Equinor (OSE: EQNR, NYSE: EQNR) for second quarter 2019. Dividend amount: 0.26 Declared currency: USD Last day including rights: 15 November 2019 Ex-date: 18 November 2019 Record date: 19 November 2019 Payment date: 27 November 2019 Other information: Dividend per share in NOK will […]

  • EV battery maker CATL H1 profit surges

    Posted On July 23, 2019 - 5:22 PM | by Oil and gas press -

    Contemporary Amperex Technology Co., Ltd. (CATL), China’s largest automotive lithium-ion battery maker, forecast a 120 percent to 150 percent annual profit growth in the first half of 2019 amid a booming new energy vehicle (NEV) market. Net profit in the Jan.-June period rose to between 2 billion yuan (290 million U.S. dollars) and 2.28 billion […]

  • ADNOC signs framework agreement with CNOOC

    Posted On July 23, 2019 - 5:18 PM | by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) on Monday signed the Strategic Framework Agreement with China National Offshore Oil Corporation (CNOOC) to explore new opportunities for collaboration in both the upstream and downstream sectors as well as in LNG (liquefied natural gas), China News Agency reported on Monday The exchange of the signed agreement was […]

  • CNOOC China Limited Signs Agreement with Sinopec Corp.

    Posted On July 23, 2019 - 4:41 PM | by Oil and gas press -

    CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced that CNOOC China Limited, its subsidiary, has signed a Cooperation Framework Agreement with China Petroleum & Chemical Corporation (“Sinopec Corp.”) regarding the sea areas of Bohai, Beibu Gulf and South Yellow Sea, as well as North Jiangsu Basin. The Cooperation Framework Agreement will be […]

  • Nigeria’s electricity challenge

    Posted On July 23, 2019 - 8:40 AM | by Oil and gas press -

    Muhammadu Buhari, @MBuhari, Nigerian President tweeted Please email us your industry related news for publication info@OilAndGasPress.com Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook Disclaimer Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news […]

  • Industrial 5G – The Wireless Network of the Future

    Posted On July 23, 2019 - 8:15 AM | by Oil and gas press -

    Smartphone users as well as industrial companies are looking forward to the advent of the new 5G wireless mobile standard, thanks to which companies will be able to connect their machines and thus make their production plants and intralogistics operations more efficient, more autonomous, and more flexible than ever before. Industrie 4.0, the smart factory, […]

  • Eni and Poste Italiane form Digital and financial services partnership

    Posted On July 22, 2019 - 7:22 PM | by Oil and gas press -

    Eni and Poste Italiane have signed a memorandum of understanding to launch a broad digital partnership. The non-binding cooperation agreement also covers financial services, and has been signed by Eni, Eni Refining & Marketing, Eni Gas e Luce, Poste Italiane and PostePay. This partnership between the two large Italian companies represents an important tool to […]

  • Ten Countries With The Greatest Fossil Fuel Production

    Posted On July 22, 2019 - 5:45 PM | by Oil and gas press -

    Despite the rapid growth of renewable energy over the past decade, fossil fuels still dominate global energy consumption. According to BP’s recently-released Statistical Review of World Energy 2019, fossil fuels represented 84.7 percent of global energy consumption in 2018. A few weeks ago I received a press kit on this topic. I usually receive several of these each week, […]

  • Iran sentences suspected US CIA spies to death

    Posted On July 22, 2019 - 3:37 PM | by Oil and gas press -

    Iran has announced that it broke a CIA spying ring and arrested 17 suspects. An intelligence official reportedly claimed that none of the 17 suspects who allegedly had “sophisticated training”, had succeeded in their sabotage missions. A statement read on state television said: “The identified spies were employed in sensitive and vital private sector centres […]

  • Nigeria aims to Supply 10 Per Cent of India’s National Crude Oil Demand

    Posted On July 22, 2019 - 2:39 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to continue to supply 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. This commitment was made by the Group Managing Director of the NNPC, Mallam Mele Kyari, during a visit by the Indian […]

  • Iran flys its flag over seized UK tanker

    Posted On July 22, 2019 - 10:59 AM | by Oil and gas press -

    The Iranian flag has been hoisted over seized British oil tanker Stena Impero, in new footage broadcast on state TV. Footage also shows Iranian armed forces patrolling the decks of the oil tanker after the Iranian Revolutionary Guard seized it in the Strait of Hormuz at 4pm on Friday. It comes after dramatic audio emerged […]

  • Hybrid Electric Retrofits Will Lead the Way in Decarbonizing Aviation

    Posted On July 19, 2019 - 3:34 PM | by Oil and gas press -

    In remarks ahead of the EAA AirVenture airshow this month, Ampaire CEO Kevin Noertker revealed the company’s roadmap toward new all-electric commuter aircraft, beginning with the rapid introduction of electric powertrains on currently certified aircraft. This approach addresses two major problems in commercial aviation today—high operating costs and the environmental impact of CO2 and other […]

  • Zion Oil & Gas Enters into Binding Agreements in Israel

    Posted On July 18, 2019 - 4:20 PM | by Oil and gas press -

    We have entered into binding agreements for 3-D seismic landowner permitting services and for consulting services in connection with the required approvals from the Israel Ministries of Transportation and Communication for importation of the seismic equipment. The biblically inspired vision of Zion Oil & Gas remains to discover oil and gas onshore in Israel. Our […]

  • China builds solar farm the size of 195 football pitches. Consists of 196,320 solar panels

    Posted On July 18, 2019 - 3:13 PM | by Oil and gas press -

    The city of Ordos set a Guinness World Record on July 9 with the largest solar panel image in the shape of a horse. The magnificent pattern was created at a solar energy power generation base in the hinterland of the Kubuqi desert in Dalad Banner with 196,320 solar panels, occupying an area of 1,398,421 […]

  • Energy360 Digitalizing Downstream Fuel Businesses in Nigeria

    Posted On July 17, 2019 - 7:59 PM | by Oil and gas press -

    Energy 360 Africa, an indigenous downstream petroleum technology firm, has launched a portfolio of innovative fuel management systems that help small, medium and large businesses optimise fuel consumption thereby boosting revenue and maximizing profit. The Chief Executive Officer of Energy360 Africa, Abayomi Elebute, who made this known during the unveiling of the technology solutions in […]

  • Has UAE oil tanker been seized by Iran?

    Posted On July 16, 2019 - 12:43 PM | by Oil and gas press -

    An oil tanker belonging to the United Arab Emirates has gone missing while sailing through the Strait of Hormuz, prompting fears it has been seized by Iran.   The Riah tanker was last tracked in the Strait around 11pm on Saturday when it suddenly slowed down and turned to face Iran, before it stopped transmitting data. US […]

  • Plains Midstream Canada announces Rangeland Pipeline Expansion

    Posted On July 16, 2019 - 11:43 AM | by Oil and gas press -

    Plains Midstream Canada (PMC) announces a proposed expansion of its Rangeland crude oil pipeline system for additional delivery capacity both north to Edmonton, Alberta and south to the border at Carway, Alberta. This expansion is subject to receiving sufficient commitments from shippers and receipt of necessary permits and regulatory approvals, and will provide incremental takeaway […]

  • Trestakk on stream with estimated recoverable resources of 76 million barrels of oil.

    Posted On July 16, 2019 - 9:19 AM | by Oil and gas press -

    Production from the Trestakk subsea field on Haltenbanken in the Norwegian Sea started on 16 July. Tied back to the Åsgard A floating production vessel, the field has estimated recoverable resources of 76 million barrels of oil. Field production started on time, below budget and without any serious incidents. “Together with our partners ExxonMobil and […]

  • Atshan gas field to supply Obari power plant

    Posted On July 15, 2019 - 1:13 PM | by Oil and gas press -

    The Board of Directors of National Oil Corporation (NOC) have approved Zallaf Oil & Gas Exploration and Production Company’s plans to expedite exploration at the Atshan gas field (NC210 and NC151), with a view to supplying natural gas to the Obari power plant located some 170 kilometres away. A feasibility study to further develop the […]

  • NNPC Pledges Closer Ties with Governors Forum

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

    The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to continuously work with the Nigerian Governors Forum (NGF) in order to grow crude oil production, renewable energy and generate more revenue for the country. A release today in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu stated that […]

  • BP launches Couchfood™ in collaboration with Uber Eats in Australia

    Posted On July 15, 2019 - 11:57 AM | by Oil and gas press -

    BP announced in June that it is trialling home delivery from its petrol and convenience stores. Launching Couchfood™ (powered by BP), the new service is now available via Uber Eats. Available from stores across Australia, snackers can now enjoy their favourite snack food from the comfort of their couch. As more customers shop convenience, meals […]

  • The 2019 Global Multidimensional Poverty Index (MPI)

    Posted On July 12, 2019 - 12:55 PM | by Oil and gas press -

    The 2019 global MPI data and publication ‘Illuminating Inequalities” released on 11 July 2019 sheds light on the number of people experiencing poverty at regional, national and subnational levels, revealing inequalities across countries and among the poor themselves. Jointly developed by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative […]

  • Nestoil Calls for Change in Energy Focus from Oil to Gas

    Posted On July 10, 2019 - 3:58 PM | by Oil and gas press -

    Group Managing Director of Nestoil Group Dr Ernest Azudialu-Obiejesi has called on the Federal Government to invest more in gas infrastructure rather than crude oil, which according to him will continue to decline in long term economic value as the world continues to embrace cleaner forms of energy. Dr Azudialu who was speaking at the […]

  • ADNOC’s Al Dhafra Petroleum JV Celebrates First Oil Production from Haliba Field

    Posted On July 10, 2019 - 3:27 PM | by Oil and gas press -

    Al Dhafra Petroleum, a joint venture between the Abu Dhabi National Oil Company (ADNOC), the Korea National Oil Company (KNOC) and GS Energy, and one of ADNOC’s youngest operating companies, announced, today, it has begun producing crude oil from Abu Dhabi’s Haliba field and discovered potential resources in three new fields in its concession area. […]

  • Kyari officially 19th GMD of NNPC

    Posted On July 10, 2019 - 2:29 PM | by Oil and gas press -

    The new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) , Mallam Mele Kolo Kyari, has vowed to reverse the trend of petroleum products importation in the country by rehabilitating the existing refineries and encouraging private sector investment in the refineries sub-sector. Mele Kyari has explained how he hoped to end petroleum products […]

  • NESR Announces Multiple Contract Awards in Bahrain

    Posted On July 9, 2019 - 5:39 PM | by Oil and gas press -

    National Energy Services Reunited Corp. (“NESR” or the “Company”) (NASDAQ: NESR), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) and Asia Pacific regions, today reported multiple awards of contracts for well intervention services by Tatweer Petroleum – Bahrain Field Development Company W.L.L. Mr. James Kenneth Eastlack, CEO […]

  • British warship ‘escorts UK-flagged tanker’ as it enters Strait of Hormuz

    Posted On July 9, 2019 - 2:38 PM | by Oil and gas press -

    A British warship appears to have escorted a UK-flagged tanker as it enters the Straits of Hormuz, amid threats of retaliation by Iran after Britain seized one of its ships last week dailymail.co.uk reports. . The tanker Pacific Voyager was sailing alongside a British military vessel earlier today amid high tensions in the Middle East, […]

  • Gas-powered KAMAZ taking part in Silk Way International Rally 2019

    Posted On July 9, 2019 - 8:46 AM | by Oil and gas press -

    Irkutsk hosted the opening of the Silk Way International Rally 2019. Gazprom is a general partner in the project. This year, the race will traverse Russia (Eastern Siberia), Mongolia, and China. A sports truck powered by natural gas is participating in the rally as part of the KAMAZ-Master team. The crew of the gas-fueled KAMAZ […]

  • Aiteo to spend $5 billion to boost output

    Posted On July 8, 2019 - 2:43 PM | by Oil and gas press -

    Aiteo Eastern E&P Co. reportedly plans to drill new oil wells and re-open existing ones as it seeks to raise production, CEO Victor Okoronkwo said Tuesday in an interview in Abuja, Nigeria. It will also seek to increase its stake in a joint venture with Nigeria’s state oil company. Plans to spend as much as […]

  • Iraq and Oman sign MoU on cooperation in the oil and gas sector

    Posted On July 8, 2019 - 2:25 PM | by Oil and gas press -

    Iraq and Oman have signed a memorandum of understanding (MoU) for cooperation in the oil and gas sector. The MoU also includes the possibility of building a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil ministry said in a statement. According to the MoU, Iraq will aim to export crude to […]

  • Posted On July 8, 2019 - 8:55 AM | by Oil and gas press -

    Iran has called for the “immediate release” of its oil tanker after British Royal Marines boarded and seized it off Gibraltar a day ago after it took a long 90-day trek around the tip of Africa, presumably to evade sanctions enforcement en route to Syria. Authorities had accused the Grace 1 supertanker of illegal smuggling […]

  • Millions In Jewelry, Seized From Corrupt Nigerian Ex-Oil Minister

    Posted On July 8, 2019 - 8:47 AM | by Oil and gas press -

    A Nigerian court has ordered the seizure of $40 million of luxury items, mainly jewelry and a customized golden iPhone belonging to the ex-minister of Nigeria’s petroleum resources Diezani Alison-Madueke, according to Reuters. In addition to the customized iPhone, the items seized included—but was not limited to—419 bangles, 315 rings, and 189 wristwatches, according to Sahara […]

  • J-Power Orders Two MHPS JAC Gas Turbines

    Posted On July 8, 2019 - 8:24 AM | by Oil and gas press -

    Mitsubishi Hitachi Power Systems (MHPS) announced today that J-Power USA Development Co. Ltd. (J-Power) has ordered two 1 on 1 M501JAC power trains for the 1,298 MW Jackson Generation Project in Elwood, Illinois. Carbon dioxide emissions from Illinois’ electric power grid have fallen by 32% since 2001, due to retirement of coal-fired power plants and […]

  • SEPLAT PetDevCom Plc – Capital Markets Day, Lagos – Postponed

    Posted On July 5, 2019 - 4:22 PM | by Oil and gas press -

    Seplat Petroleum Development Company Plc’s capital markets event was due to be held at the Nigerian Stock Exchange in Lagos for analysts and investors on Tuesday 9th of July 2019 at 13:30 (Lagos time). At the request of the Nigerian Stock Exchange, the session has been postponed to Friday 12th of July 2019 at 14.30 […]

  • Nigeria House of Reps to Prioritize Passage of PIGB

    Posted On July 5, 2019 - 1:56 PM | by Oil and gas press -

    The 9th National Assembly will give priority to the passage of the Petroleum Industry Governance Bill (PIGB) in order to consolidate and reposition the oil and gas industry for the benefit of all Nigerians. Speaker, House of Representatives, Hon. Femi Gbajiabiamila, made this commitment during a visit by the outgoing Group Managing Director of the […]

  • NNPC GMD congratulates OPEC Chief

    Posted On July 4, 2019 - 11:50 AM | by Oil and gas press -

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed delight over the re-election of Nigeria’s Dr. Mohammed Sanusi Barkindo as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) for a fresh three-year term. The NNPC GMD in a congratulatory letter to the OPEC Chief Scribe, […]

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