News

  • 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, […]

  • U.K’s National Trust To Divest from all fossil fuel companies within the next three years

    Posted On July 4, 2019 - 11:36 AM | by Oil and gas press -

    The National Trust has announced it will sell off its investments in oil, coal and gas companies to better protect the planet. The charity – which with 5 million members is Britain’s biggest – said it was taking the decision because fossil fuel companies had made little progress in switching to greener alternatives. They issued […]

  • Traiana to Modernize Equity Swaps Market

    Posted On July 4, 2019 - 10:42 AM | by Oil and gas press -

    Traiana, the leading infrastructure service for trade lifecycle and risk management solutions, today announced that it has launched a new service to fully automate the post trade lifecycle management of the multi-trillion dollar equity swaps market. Traiana’s Equity Swaps Lifecycle Management service will transform the market’s previously manual, labor intensive and inefficient post trade affirmation […]

  • Gazprom signs Turkmen gas contract

    Posted On July 4, 2019 - 9:20 AM | by Oil and gas press -

    On July 1, the Gazprom Group signed a five-year contract to purchase natural gas from Turkmengas (for the period through June 30, 2024). According to the contract, supplies from Turkmenistan will add some 5.5 billion cubic meters of gas per year to Gazprom’s portfolio. Source / More : Gazprom Oil and Gas News Undiluted !!! […]

  • Saudi Aramco accelerates technology drive with Baker Hughes GE research partnership

    Posted On July 3, 2019 - 4:12 PM | by Oil and gas press -

    Saudi Aramco signaled its commitment to cutting edge technology and developing global partnerships with the opening yesterday of a “game-changing” Baker Hughes GE (BHGE) research facility at Dhahran Techno Valley. The state-of-the-art facility will house a host of groundbreaking technologies, including the first industry 3D printer for metal in Saudi Arabia and a data visualization […]

  • UK Retailer in Blockchain venture

    Posted On July 3, 2019 - 12:14 PM | by Oil and gas press -

    Finboot, a UK based-software development group that provides Blockchain solutions to enterprises in an easy-to-use fashion, has closed a major private investment led by Tom Singh, founder of UK fashion retailer New Look, with H-FARM and leading Angel investors. The capital raised will allow Finboot, which is part of the UK International Trade Department’s Global […]

  • Rustem Usmanov appointed Director General of Gazprom Transgaz Kazan

    Posted On July 3, 2019 - 7:37 AM | by Oil and gas press -

    Rustem Usmanov has been appointed Director General of Gazprom Transgaz Kazan. Rustem Usmanov put in charge of Gazprom Transgaz Kazan Rustem Usmanov was born in 1969 in Ufa. He graduated from Ufa Petroleum Institute, majoring in Design, Construction and Operation of Gas & Oil Pipelines and Gas & Oil Storage Facilities, and earned a management […]

  • Christine Lagarde on her Nomination as President of the European Central Bank

    Posted On July 2, 2019 - 6:17 PM | by Oil and gas press -

    Statement by International Monetary Fund Managing Director Christine Lagarde on her Nomination as President of the European Central Bank Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today. “I am honored to have been nominated for the Presidency of the European Central Bank. In light of this, and in […]

  • Aker BP’s “Walk to Work” campaign

    Posted On July 2, 2019 - 4:10 PM | by Oil and gas press -

    Aker BP has completed the company’s first campaign using a gangway for access from a vessel to an unmanned platform. The campaign was carried out in the first stage of the hook-up phase on Valhall Flank West in the North Sea. The hook-up of Valhall Flank West started on Saturday, 20 June, just hours after […]

  • OPEC 176th Meeting concludes

    Posted On July 2, 2019 - 2:26 PM | by Oil and gas press -

    The 176th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Monday, 01 July 2019, under the Chairmanship of its President, HE Manuel Salvador Quevedo Fernandez, People’s Minister of Petroleum of the Bolivarian Republic of Venezuela and Head of its Delegation. The Conference welcomed new […]

  • Seplat to host a capital markets event

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

    Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading Nigerian indigenous oil and gas company dual-listed on the Nigerian Stock Exchange and London Stock Exchange, will host a capital markets event at the Nigerian Stock Exchange in Lagos for analysts and investors on Tuesday 9th of July at 13:30 (Lagos time). The session […]

  • Continental GT fastest production car ever on world renowned course

    Posted On July 1, 2019 - 11:40 AM | by Oil and gas press -

    The Bentley Continental GT has reinforced its status as the finest Grand Tourer ever produced by claiming the outright record for a production car at the Pikes Peak International Hill Climb on Sunday, 30th of June, 2019 in Colorado, USA. Driven by three-time champion, former “King of the Mountain’ Rhys Millen (NZ), the Continental GT […]

  • Record-Year For LNG Investments in Africa

    Posted On June 28, 2019 - 5:39 PM | by Oil and gas press -

    Africa is taking the lead in the next phase of global LNG mega-projects. 2019 will shatter previous records for the industry. Rystad Energy forecasts that LNG greenfield investment in 2019 will reach nearly $103 billion, the biggest investment year for the burgeoning industry to date. Mozambique’s Area 1 and Area 4 projects, the latter of […]

  • WOODFIBRE LNG SIGNS FOUNDATION CUSTOMER

    Posted On June 28, 2019 - 5:31 PM | by Oil and gas press -

    Pacific Oil & Gas Limited (PO&G) today announced that its wholly-owned subsidiary, Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export), has signed a binding LNG Sales and Purchase Agreement (SPA) with BP Gas Marketing Limited (BP), a wholly-owned indirect subsidiary of BP Plc, for the delivery of liquefied natural gas (LNG) from PO&G’s Woodfibre LNG […]

  • PDO and Ejaad Collaborate on 4IR Research on jobs

    Posted On June 28, 2019 - 10:05 AM | by Oil and gas press -

    Petroleum Development Oman (PDO) signed an agreement with The Research Council to conduct research on the overall impact of the Fourth Industrial Revolution (4IR) on jobs in the oil and gas sector through Ejaad, the platform to boost R&D collaboration between industry and academia in Oman. The study will explore the effect of 4IR on […]

  • Anchois Gas Field, Morocco

    Posted On June 28, 2019 - 8:15 AM | by Oil and gas press -

    Chariot Oil & Gas Limited Announce Development Feasibility Study and Gas Market Assessment completed for the Anchois Gas Field, Morocco Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas company, provided an update on the Lixus Offshore Licence (“Lixus”), with the completion of the Development Feasibility Study for the Anchois […]

  • Self-driving cars get first London test routes

    Posted On June 28, 2019 - 7:54 AM | by Oil and gas press -

    Self-driving cars have been granted their first ever London test routes in a major step forward for real-world driverless vehicle trials The testbed, which is a UK industry first, will consist of 26km of public road in Greenwich and the Queen Elizabeth Olympic Park in Stratford City A.M. reports. Source / More : City A.M. […]

  • US and China ‘agree tentative trade truce’ ahead of G20 summit

    Posted On June 28, 2019 - 7:42 AM | by Oil and gas press -

    China and the US have reportedly agreed to a tentative truce in their ongoing trade war, two days before crucial talks at the G20 summit this weekend. Details of the agreement, which would scrap plans for a further round of US tariffs on an additional $300bn (£236bn) of Chinese goods, will be laid out in […]

  • Hess Schedules Earnings Release Conference Call

    Posted On June 27, 2019 - 9:47 AM | by Oil and gas press -

     Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, July 31, 2019 at 10 a.m. Eastern Time to discuss its second quarter 2019 earnings release. To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 8892577 after 9:45 a.m.Outside the United States, parties should dial 443-295-9223 and enter the […]

  • Nigeria Govt. Appoints Acting Alternate Chairman of NNPC Governing Board

    Posted On June 26, 2019 - 5:22 PM | by Oil and gas press -

    President Muhammadu Buhari has appointed Dr. Thomas M.A. John as Acting Alternate Chairman of the NNPC Governing Board. Dr. John, a former Group Managing Director of the NNPC, is before the appointment, a member of the NNPC Governing Board. He will hold the position of the Acting Alternate Chairman of the Governing Board until a […]

  • ADNOC Group CEO Participates in Bloomberg Emerging and Frontier Forum

    Posted On June 26, 2019 - 5:03 PM | by Oil and gas press -

    His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC), participated in the inaugural Bloomberg Emerging and Frontier Forum, which brought together global financial policymakers in a dialogue on the key economic issues related to growth in emerging and frontier markets. Speaking during […]

  • Baker Hughes Launched Multimodal Facility Expansion in Angola

    Posted On June 26, 2019 - 4:10 PM | by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE), announced the inauguration of its multimodal facility (MMF) for oil and gas in Luanda, Angola. The facility, with its additional capabilities across multiple product lines, will deliver a suite of products and services across the oil and gas value chain. It will serve as a hub to support […]

  • 2019 Offshore Safety Awards

    Posted On June 26, 2019 - 3:42 PM | by Oil and gas press -

    The search is on for the people and companies who have gone the extra mile to ensure safety remains at the forefront of North Sea operations for the 2019 OGUK Offshore Safety Awards. Included in this year’s awards, jointly organised by OGUK and Step Change in Safety with principal sponsor TOTAL, is a new category […]

  • Dolphin Drilling ASA files for bankruptcy

    Posted On June 26, 2019 - 10:56 AM | by Oil and gas press -

    Reference is made to the previous stock exchange communications of Dolphin Drilling ASA (the “Company”) with respect to its financial situation and restructuring efforts. Regretfully, the creditors of Dolphin Drilling ASA have not been able to agree on the terms for a consensual restructuring, and the secured creditors have demanded payment of all amounts outstanding […]

  • First solar powered electric forecourt to be built in Essex,UK

    Posted On June 25, 2019 - 10:50 AM | by Oil and gas press -

    The first of more than 100 solar-powered forecourts set to be built in the UK has been announced for Braintree, Essex. GRIDSERVE is behind the project and envisions the eventual replacement of petrol stations with the sites that have 24 charging spaces for electric vehicles. Future versions will be found alongside busy roads to let […]

  • Trudeau Declares Climate Emergency… Then Approves Major Oil Pipeline

    Posted On June 21, 2019 - 11:43 AM | by Oil and gas press -

    Canada declared a national climate emergency on Monday. The next day, Prime Minister Justin Trudeau gave the greenlight to a massive oil sands pipeline. The House of Commons, with strong support declared climate change a “real and urgent crisis.” A week before, Justin Trudeau proposed a ban on single-use plastics, which, if implemented, would be the latest in a […]

  • Libra; Facebook’s new digital currency

    Posted On June 20, 2019 - 10:26 AM | by Oil and gas press -

    Facebook could soon have its own answer to bitcoin and it is called Libra. The social media giant has unveiled plans for a new virtual currency that it hopes will be used as widely as the US dollar. Facebook reportedly plans to allow its users to buy Libra and store it online in a digital […]

  • NNPC to Resume Oil Search in Chad Basin

    Posted On June 20, 2019 - 10:20 AM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has restated its commitment to resume oil search in the Chad Basin as soon as it receive security clearance. Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this today when the Governor of Bauchi State, Senator Bala Mohammed, paid him a business visit in Abuja. “We will […]

  • Global oil demand growth is slowing

    Posted On June 19, 2019 - 8:22 PM | by Oil and gas press -

    That is the view of all three major oil forecasting organisations, who have cut their assessments for what they expect in terms of an increase in crude consumption this year. The latest outlooks from the International Energy Agency, the U.S. Energy Information Administration and the Organisation of Petroleum Exporting Countries all show worldwide oil demand […]

  • Floating solar farms could be installed in oceans

    Posted On June 19, 2019 - 7:04 PM | by Oil and gas press -

    Scientists say the construction of 11 million ‘marine-based artificial islands,’ each as big as a football field, could help mitigate the disastrous effects of carbon-based fossil fuels. Millions of island-like solar farms could help suck CO2 from the atmosphere and repurpose the gas into synthetic fuel, say researchers. In a new paper, scientists from Norway […]

  • ABB secures full-scope power, automation and navigation contract

    Posted On June 18, 2019 - 4:17 PM | by Oil and gas press -

    ABB to deliver benefits of integrated vessel systems to two dredgers built by Keppel Offshore & Marine for Van Oord, securing a first full-scope power, automation and navigation contract for specialized dredger market The landmark order – ABB’s largest dredging vessel project for a European end customer – covers integrated electrical power, automation, control and […]

  • Solimões Basin Awarded with Priority Status

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

    The government of the Brazilian state of Amazonas assigned the priority status to Rosneft’s project in the Solimões Basin. According to the letter of intent signed between Rosneft Brasil (a 100% subsidiary of Rosneft) and the government of the Brazilian state, regional authorities are to provide conditions for the implementation of Rosneft’s project. In particular, […]

  • Valhall QP topside removed

    Posted On June 18, 2019 - 10:12 AM | by Oil and gas press -

    The original accommodation platform at Valhall (QP) in the southern part of the North Sea has been safely removed by the giant vessel Pioneering Spirit. This was the first of the original structures at Valhall to be removed as part of the modernization of the Valhall field centre. Executed in the morning of Friday 14 […]

  • Aramco Trading Company opens office in UAE

    Posted On June 17, 2019 - 1:14 PM | by Oil and gas press -

    Aramco Trading Co. (ATC), which expects to see its oil trading volume rise to 6 million barrels per day (bpd) by next year, has opened its second international office in Fujairah with the firm’s chairman and senior vice president of Downstream with Saudi Aramco, Abdulaziz M. Al-Judaimi, and ATC president and CEO Ibrahim Q. Al-Buainain […]

  • Crude Oil Price Movement to 13/06/19

    Posted On June 13, 2019 - 2:32 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $61.01 a barrel on Wednesday, 12 June 2019, compared with $62.56 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 […]

  • PGNiG to buy more LNG from Venture Global LNG

    Posted On June 13, 2019 - 10:54 AM | by Oil and gas press -

    During the visit of the President of the Republic of Poland Andrzej Duda in Washington, members of the management boards of Polskie Górnictwo Naftowe i Gazownictwo SA and Venture Global LNG signed an agreement that increases the purchase volume of liquefied natural gas by an additional 1.5 million tonnes of LNG per year. In accordance […]

  • ‘Torpedo’ attack on two vessels in the Gulf of Oman

    Posted On June 13, 2019 - 10:23 AM | by Oil and gas press -

    The Middle East is on high alert today after two oil tankers were hit by explosions in the Gulf of Oman. One of the ships, the MT Front Altair, caught fire after a suspected torpedo attack and Iran says it has sunk – although the ship’s Norwegian owner has denied the claim. The Altair and […]

  • SHORT-TERM ENERGY OUTLOOK

    Posted On June 13, 2019 - 9:59 AM | by Oil and gas press -

    Global liquid fuels Brent crude oil spot prices averaged $71 per barrel (b) in May, largely unchanged from April 2019 and almost $6/b lower than the price in May of last year. However, Brent prices fell sharply in recent weeks, reaching $62/b on June 5. EIA forecasts Brent spot prices will average $67/b in 2019, […]

  • Crude Oil Price Movement to 11/06/19

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

    The price of OPEC basket of fourteen crudes stood at $62.56 a barrel on Tuesday, 11 June 2019, compared with $63.01 the previous day, according to OPEC Secretariat calculations. Brent crude futures, the international benchmark for oil prices, were down $1.16, or 1.86 per cent, at $61.13 a barrel by 0616 GMT. US West Texas […]

  • New 2D Regional Multi-client Survey in East Africa, West Indian Ocean

    Posted On June 12, 2019 - 11:50 AM | by Oil and gas press -

    As industry interest in hydrocarbon exploration offshore East Africa increases, attention is turning to frontier areas in the region such as the West Indian Ocean. At first glance, this area looks like a barren oceanic crust with little potential, but there is tantalising evidence to suggest otherwise. CGG geoscientists have been sifting through the evidence […]

  • Total Update on Mero Field Development

    Posted On June 12, 2019 - 8:56 AM | by Oil and gas press -

    Total and its partners have taken the investment decision for the second phase of the Mero project (Libra block), located deep offshore, 180 kilometers off the coast of Rio de Janeiro, in the prolific pre-salt area of the Santos Basin in Brazil. This decision follows the production start-up on the field in November 2017 (Early […]

  • LUKOIL signs Heads of Agreement on the I-P-2 block

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

    At the 23rd St. Petersburg International Economic Forum, President of LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGaz Alik Aidarbayev have signed Heads of Agreement on the I-P-2 block located in the Kazakh Sector of the Caspian Sea. The Heads of Agreement call for the parties to hold negotiations to […]

  • Petrobras wins favorable Supreme Court decision

    Posted On June 11, 2019 - 12:49 PM | by Oil and gas press -

    Petrobras announced that the Plenary of the Federal Supreme Court (STF) reversed the provisional injunction granted by Minister Ricardo Lewandowski in ADI 5624, which conditioned the sale of control of subsidiaries and subsidiaries of state-owned companies to prior legislative authorization and public bidding. Petrobras continues with its divestments, fundamental for reducing its level of indebtedness […]

  • NOVATEK Creates a JV in China with Sinopec

    Posted On June 10, 2019 - 4:25 PM | by Oil and gas press -

    During the official visit of the President of the People’s Republic of China Xi Jinping to the Russian Federation, PAO NOVATEK (“NOVATEK” and/or the “Company”), Sinopec and Gazprombank signed Heads of Agreement (“Agreement”) on establishing a joint venture to market LNG and natural gas to end-customers in the People’s Republic of China. “Chinese companies are […]

  • Jordan receives $100 million soft loan from Germany

    Posted On June 10, 2019 - 1:26 PM | by Oil and gas press -

    Jordanian Minister of Foreign Affairs and Expatriates Ayman Safadi and his German counterpart Heiko Maas stressed pledged to further develop their strategic partnership and work hand-in-hand to resolve Middle East crises. The two sides held talks which dealt with ways of boosting economic cooperation between both countries, as Germany is the second largest donor to […]

  • ENERGY NEWSTRACK TO 10/06/19:

    Posted On June 10, 2019 - 12:28 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $60.88 a barrel Thursday, 6 June 2019, compared with $61.04 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 […]

  • 100,000 oil barrels lost daily to Oil thieves in Nigeria

    Posted On June 10, 2019 - 10:29 AM | by Oil and gas press -

    A report has revealed that oil theft has replaced activities of militants, with Nigeria losing 100,000 barrels daily, running into trillions of naira. The report by Bloomberg showed that between 2014 and 2019, millions of barrels of crude oil have been lost to theft, with as high as 100,000 barrels stolen daily in the last […]

  • West Africa’s Largest LPG Cylinder Manufacturing Plant

    Posted On June 10, 2019 - 10:18 AM | by Oil and gas press -

    Nigeria’s Vice-President, Prof. Yemi Osinbajo, announced on Friday that the Federal Government would collaborate with the Techno Oil Group to execute the newly introduced marketer cylinder ownership policy. Osinbajo made the announcement in Lagos while commissioning the multi-billion-naira cooking gas cylinder manufacturing plant built by Techno Oil Ltd. in Lagos. He said that government introduced […]

  • MX Oil Updates on Aje Participating Interest

    Posted On June 10, 2019 - 9:50 AM | by Oil and gas press -

    MX Oil plc, an oil and gas investing company quoted on AIM, announced on 4 February 2019 that consent had been received from the Ministry of Petroleum Resources (“MPR”) for the renewal of the OML 113 licence, which is part of the Aje Field, for another term of 20 years. The Company had acquired an […]

  • Capital Markets Day

    Posted On June 10, 2019 - 9:36 AM | by Oil and gas press -

    Seplat Petroleum Development Company Plc will host a capital markets event at the London Stock Exchange in London for analysts and investors on Wednesday 26th of June at 15:00. The session will focus on the Assa North and Ohaji South (“ANOH”) greenfield gas and condensate development project, in Nigeria. A Final investment decision was taken […]

  • MHI Conducts Running Test of Robot EX ROVR

    Posted On June 10, 2019 - 8:50 AM | by Oil and gas press -

    Mitsubishi Heavy Industries, Ltd. (MHI) has conducted a running test of the prototype EX ROVR, a plant inspection robot with explosion protection features to limit the danger of the robot itself igniting an explosion or fire from electric sparks or heat, even in areas with flammable gas. The test was conducted jointly with JXTG Nippon […]

  • BHGE Announces First Inspection Technologies Customer Solutions Center in Silicon Valley

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

    Baker Hughes, a GE company (NYSE: BHGE), announced plans to open a new Customer Solutions Center (CSC) in Silicon Valley for its Inspection Technologies (IT) business. The BHGE Silicon Valley CSC, located in San Jose, Calif., will bring BHGE’s most advanced non-destructive testing technologies under one roof and is the second facility of its kind in […]

  • IMF Approves Reform Package to Enhance Support to Low-Income Countries

    Posted On June 7, 2019 - 2:13 PM | by Oil and gas press -

    On May 24, 2019 the Executive Board of the International Monetary Fund (IMF) concluded the 2018-19 Review of Facilities for Low-Income Countries—Reform Proposals (“Facilities Review”) and the companion Review of the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Countries (“Financing Review”). Background The current framework for IMF concessional lending and program support for low-income countries […]

  • “Smart City” with experience and technologies of ROSATOM

    Posted On June 6, 2019 - 4:05 PM | by Oil and gas press -

    At the Petersburg International Economic Forum Acting Governor of Murmansk Region Andrey Chibis and Director General of Rusatom Infrastructure Solutions LLC (part of ROSATOM) Ksenia Sukhotina signed an agreement on implementation of joint initiatives regarding introduction of the “Smart City” digital solutions. Deputy Director General and Director for Development and International Business of ROSATOM Kirill […]

  • Nigerian Government revokes oil mining licence of five companies

    Posted On June 6, 2019 - 3:43 PM | by Oil and gas press -

    The Department of Petroleum Resources (DPR) has revoked the oil mining licences (OML) and one oil prospecting licence (OPL) belonging to five companies. A statement released by DPR today, says the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences. According to the statement, the five […]

  • China issues 5G commercial-use licenses

    Posted On June 6, 2019 - 10:28 AM | by Oil and gas press -

    China’s Ministry of Industry and Information Technology (MIIT) on Thursday granted 5G licenses for commercial use, marking the beginning of a new era in the country’s telecommunication industry. China Telecom, China Mobile, China Unicom and China Broadcasting Network are the first batch of companies that obtained the 5G licenses. The 5G technology will establish a […]

  • Shanghai unveils mega hydrogen station

    Posted On June 6, 2019 - 10:23 AM | by Oil and gas press -

    Shanghai unveiled Wednesday a mega hydrogen station that can charge a car within only three minutes and is able to power hundreds of vehicles per day. The 8,000-square-meter station can supply over 2 tonnes of hydrogen each day. It is located at an industrial park in Shanghai which supplies part of the hydrogen in the […]

  • Onshore shale gas operator faces ‘unreasonable regulations’ in UK

    Posted On June 5, 2019 - 10:01 AM | by Oil and gas press -

    Cuadrilla and its local contractors have contributed £15m into the Lancashire economy since 2016, but the firm’s CEO has warned that the benefits a shale revolution could bring to the county are being held back by unreasonable regulations. The latest Putting Lancashire First tracker results show that in the first three months of 2019 Cuadrilla […]

  • Repsol to reposition as a multi-energy company

    Posted On June 5, 2019 - 9:51 AM | by Oil and gas press -

    Repsol Chairman Antonio Brufau, at the Annual General Shareholders’ Meeting held in Madrid, advocated an energy transition that is “structured and makes the most of all possible solutions to maximum effect” because otherwise “we run the risk of destroying an essential part of our country’s value.” In his speech to the company shareholders, Antonio Brufau, […]

  • BP divests mature oil assets in Egypt to Dragon Oil

    Posted On June 5, 2019 - 9:18 AM | by Oil and gas press -

    BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary […]

  • IMF Executive Board Concludes Article IV Consultation with the Republic of South Sudan

    Posted On June 5, 2019 - 7:44 AM | by Oil and gas press -

    On May 29, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Republic of South Sudan. Since December 2013, South Sudan has been hit hard by a civil war and falling oil prices. The conflict along ethnic lines left hundreds of thousands dead, with severe social and economic […]

  • Equinor’s board of directors

    Posted On June 5, 2019 - 7:39 AM | by Oil and gas press -

    In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 4 June 2019, Finn Bjørn Ruyter was elected as a new member to Equinor’s board of directors. Furthermore, the corporate assembly re-elected Jon Erik Reinhardsen as chair and elected Jeroen van der Veer as deputy chair of the board in addition to […]

  • Crude Oil Price Movement to 31/05/19

    Posted On May 31, 2019 - 4:36 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $67.10 a barrel on Thursday, 30 May 2019, compared with $67.75 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), […]

  • NNPC Posts $490.03 million Export Sale of Crude Oil and Gas

    Posted On May 31, 2019 - 3:20 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) posted a total export sale of crude oil and gas of $490.03million in February 2019 which is 32.45 per cent higher than the previous month’s sale. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release of the February 2019 edition of the corporation’s Monthly […]

  • Dolphin Drilling ASA – Election of new chairman

    Posted On May 31, 2019 - 1:07 PM | by Oil and gas press -

    Reference is made to the market communication dated 21 May 2019 regarding resignation of board members, including the chairman of Dolphin Drilling ASA (the “Company”). The board of the Company has elected Aksel. O. Hillestad as chairman of the board with effect from 29 May 2019. The new chairman will be registered with the Norwegian […]

  • Tesla is now doomed

    Posted On May 29, 2019 - 7:07 PM | by Oil and gas press -

    Tesla completely transformed the automotive landscape when it introduced the Roadster, pioneering the mass-market electric car. It sold the first widely-available EV, and it did it with a product that you could easily live with every day. The company has done more to further the electric game than anyone else and deserves total credit for […]

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