Luno II appraisal well 16/4-8 S in PL359 successfully completed
Posted On Sep 01 ,2014 - 09:10-AM | by admin

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), announced that drilling of appraisal well 16/4- 8 S in the Luno II discovery has been succ...

Tanker with $100 million Iraqi oil goes missing off Texas coast
Posted On Aug 29 ,2014 - 08:28-AM | by admin

An oil tanker, United Kalavrvta, which is carrying a cargo of Kurdish crude oil, worth $100 million of disputed crude oil from Iraq's semi-autonomous Kurdistan region has gone missing, reports say. ...

Shell Petroleum Development Company (SPDC) selloff continues
Posted On Aug 29 ,2014 - 08:59-AM | by admin

Shell Petroleum Development Company (SPDC) has concluded plans to sell four of its oil fields in Nigeria, as part its $15 billion global divestment plan. They confirmed the sale process through a spok...

DHL Express Sub Saharan Africa, benefits from robust growth in the Energy sector
Posted On Aug 28 ,2014 - 08:03-PM | by admin

Particularly due to exploration companies Despite a challenging global economic environment, import and export trade volumes for DHL Express Sub Saharan Africa remain strong and are forecast to grow...

Turning Challenges into Opportunities in Future Oil Industry
Posted On Aug 28 ,2014 - 08:08-AM | by admin

Speech by the Chief Executive of Saudi Aramco, Khalid Al-Falih, at the Offshore Northern Seas Conference My friends, as we meet today, many observers point to a cloudy outlook for our industry and ...

Schlumberger Launches Industry-First Photorealistic Reservoir Geology Service
Posted On Aug 27 ,2014 - 08:13-PM | by admin

Schlumberger today launched the Quanta Geo* photorealistic reservoir geology service at the Offshore Northern Seas Annual Conference and Exhibition. The new service includes the industry’s first ...

OML 113 Aje Field, Nigeria
Posted On Aug 27 ,2014 - 08:55-AM | by admin

Key Highlights: Panoro Energy ASA has a 6.502% interest in OML113 which is operated by Yinka Folawiyo Petroleum (YFP) and is located in the extreme western part of offshore Nigeria adjacent t...

Oando targets 100,000bpd oil production
Posted On Aug 26 ,2014 - 08:19-PM | by admin

Oando Plc is looking to achieve 100,000 barrels per day (bpd) of oil production over the next five years, buoyed by the recent acquisition of the Nigerian upstream oil and gas assets of United States-...

2014 Barclays CEO Energy-Power Conference
Posted On Aug 26 ,2014 - 08:12-PM | by admin

Baker Hughes Incorporated (NYSE: BHI) announced that the Company's Chairman and Chief Executive Officer, Martin Craighead, will present at the Barclays CEO Energy-Power Conference on Wednesday, Septe...

Brent crude edged up towards $103 a barrel on Tuesday
Posted On Aug 26 ,2014 - 08:00-PM | by admin

Brent crude rose 8 cents to $102.73 a barrel as of 0627 GMT, after closing up 36 cents. U.S. crude, or West Texas Intermediate (WTI), gained 18 cents to $93.53 a barrel after settling down for the thi...

Libya needs outside help to protect its oilfields, airports
Posted On Aug 26 ,2014 - 08:39-PM | by admin

Libya wants the international community to help protect its oilfields, airports and other state assets as it is too weak to stop armed groups fighting for control, its ambassador in Cairo said on Mond...

Noble Energy To Present At Barclays Conference
Posted On Aug 26 ,2014 - 08:45-AM | by admin

Noble Energy, Inc. (NYSE: NBL) announced today that Charles D. Davidson, the Company's Chairman & CEO, will present at the Barclays CEO Energy-Power Conference on Tuesday, September 2, 2014 at 2:25 p....

OPEC daily basket price
Posted On Aug 25 ,2014 - 08:45-PM | by admin

OPEC daily basket price stood at $99.19 a barrel Friday, 22 August 2014 Brent crude dipped towards $102 a barrel on Monday as ample supply and a stronger US dollar continued to pressure oil market...

RIL, ONGC, BP, Cairn demand immediate hike in natural gas price
Posted On Aug 25 ,2014 - 08:57-PM | by admin

Energy giants led by Reliance Industries, ONGC, BP and Cairn India on Monday unanimously demanded an immediate hike in natural gas prices, saying current sub-market price of US $4.2 was impeding devel...

Anadarko to Present at Upcoming Energy Conference
Posted On Aug 25 ,2014 - 08:42-PM | by admin

Anadarko Petroleum Corporation (NYSE: APC) today announced that Al Walker, Chairman, President and CEO, will present at the 2014 Barclays Capital CEO Energy-Power Conference on Wednesday, Sept. 3, 201...

Drilling Begins on the Libra Field in Brazil
Posted On Aug 25 ,2014 - 08:41-AM | by admin

With a target depth of 5,850 meters, the first appraisal well was spudded on Libra field off the coast of Brazil in early August. The super-giant field, located 200 kilometers offshore, has estimated ...

Nigeria Records 34,047 Cases of Pipeline Breaks
Posted On Aug 22 ,2014 - 08:10-AM | by admin

The Nigerian National Petroleum Corporation (NNPC) has disclosed that about 34,047 cases of pipeline vandalism were recorded in parts of the country between 1999 and 2013. Also, about 1.3 million metr...

Oil Companies Turning Away From The Middle East
Posted On Aug 20 ,2014 - 08:59-AM | by admin

The violence and cutthroat politics of the Middle East, combined with declining oil and gas production levels, has triggered a subtle but significant shift away from what has long been the center of t...

5 Countries Most Plagued by Oil Theft
Posted On Aug 20 ,2014 - 08:52-AM | by admin

Nigeria As much as 400,000 barrels of oil a day are stolen in Nigeria. This equates to losses of $1.7 billion a month for Africa’s new largest economy. This represents 7.7 percent ...

Hess Toy Truck to Celebrate 50th Anniversary
Posted On Aug 20 ,2014 - 08:31-AM | by admin

Hess Corporation announced plans to celebrate the much anticipated 50th Anniversary of the Hess Toy Truck during the upcoming holiday season. In keeping with its annual tradition, Hess will unveil ...

ORYX GTL will present at the 4th Annual Global Refining Technology Forum, Qatar
Posted On Aug 18 ,2014 - 08:23-PM | by admin

Anton Punt, Lead Business Analyst - Business Development at ORYX GTL (Qatar) has joined the speaker panel for the 4th Annual Global Refining Technology Forum to be held from 15 - 17 September 2014 at ...

Environmentalists split over green group's fracking industry ties
Posted On Aug 18 ,2014 - 08:46-AM | by admin

Ties between the Center for Sustainable Shale Development and oil and gas companies highlight growing divide -

ONGC-Mittal Energy Ltd gives up oil block in Nigeria
Posted On Aug 18 ,2014 - 08:31-AM | by admin

ONGC Mittal Energy Ltd (OMEL), a joint venture between ONGC Videsh Ltd and Mr. Lakshmi Mittal’s Mittal Investment Sarl, has relinquished an oil block in Nigeria after the federal government refused ...

Neste Oil's Porvoo refinery to see reduced production
Posted On Aug 18 ,2014 - 08:26-AM | by admin

One of the hydrogen production units at Neste Oil's Porvoo refinery has been damaged and production at the site has been reduced. Preliminary findings indicate that repairing the unit will take severa...

Sinopec subsidiary awarded approximately US$1.329bil. Malaysia refinery contract
Posted On Aug 12 ,2014 - 08:57-PM | by admin

Sinopec Engineering Group, a subsidiary of China's biggest refiner Sinopec, has been awarded a refinery contract worth 1.33 billion U.S. dollars by Malaysian oil firm Petronas, Sinopec announced on Tu...

Total has invested $10b in Nigeria’s oil, gas sector in last 5 years
Posted On Aug 12 ,2014 - 08:53-AM | by admin

TOTAL Exploration and Production Nigeria Limited (TEPNG) has invested about $10 billion (N1.6 trillion) in the nation’s oil and gas sector in the last five years, even as it pledged further investme...

Oil demand and prices held down despite conflict in Libya, Iraq and Ukraine
Posted On Aug 12 ,2014 - 08:48-AM | by admin

IEA lowers outlook for oil demand on unsteady global growth Unsteady global economic growth is holding down oil demand and prices despite worries about conflict in key regions, the IEA said lowering...

Saudi Arabia Revenues to exceed SR1.17 trillion
Posted On Aug 11 ,2014 - 08:17-PM | by admin

Saudi Arabia is heading for a record budget surplus this year, with actual revenues expected to exceed SR1.17 trillion, SR315 billion more than what was projected in the budget set by the Finance Mini...

Chad withdraws Chinese exploration permits
Posted On Aug 11 ,2014 - 08:45-PM | by admin

Chad has decided to withdraw five exploration permits issued to a Chinese company and press charges in a row over a $1.2bn fine for environmental violations, the oil ministry has said. Djerassem Le...

Genel issues Update regarding Kurdistan Region of Iraq
Posted On Aug 08 ,2014 - 08:02-PM | by admin

Following recent events in the vicinity of the Kurdistan Region of Iraq (‘KRI’), Genel Energy plc can confirm that the Taq Taq and Tawke fields remain safe and secure. Operations there are unaffec...

NNPC to pursue ongoing transformation, says new GMD Dawha
Posted On Aug 07 ,2014 - 08:07-PM | by admin

THE transformations being carried out by the Nigerian National Petroleum Corporation (NNPC) under the immediate past Group Managing Director (GMD), Andrew Yakubu, would be sustained, the new helmsman,...

Shut oil wells in Bayselsa reopened
Posted On Aug 07 ,2014 - 08:59-PM | by admin

Communities hosting the Nigerian Agip Oil Company (NAOC) operation at Biseni in Yenagoa Local Government Area of Bayelsa have re-opened five oil wells earlier shut down in the Idu Oil Fields. The ...

CME Group Declares Dividend
Posted On Aug 06 ,2014 - 08:50-PM | by admin

CME Group Inc., the world's leading and most diverse derivatives marketplace, today declared a third-quarter dividend of $0.47 per share, payable September 25, 2014, to shareholders of record as of Se...

Crude prices fall ahead of supplies data
Posted On Aug 06 ,2014 - 08:12-PM | by admin

Crude prices dropped Tuesday as the market was awaiting U.S. crude inventories data due to be released Wednesday. The Energy Information Administration is scheduled to report the U.S. crude supplie...

Egbert Imomoh to head Afren plc
Posted On Aug 06 ,2014 - 08:45-AM | by admin

On 30 July 2014 Afren plc ("Afren" or the “Company”) announced that the Board had temporarily suspended the CEO, Osman Shahenshah and the COO, Shahid Ullah. In the course of an independent revi...

BHP, BG awarded deepwater blocks offshore Trinidad and Tobago
Posted On Aug 06 ,2014 - 08:50-AM | by admin

Trinidad and Tobago’s Ministry of Energy and Energy Affairs has awarded two deepwater blocks to a consortium of BHP Billiton Petroleum (International Exploration) Pty. Ltd. and BG International Ltd....

Shell not cleaning oil pollution, Report reveals
Posted On Aug 04 ,2014 - 08:14-PM | by admin

Little action has been taken to clean up pollution caused by oil production in Nigeria’s Niger Delta region, either by the government or Shell Oil, Amnesty International and other groups charged Mon...

Second Quarter 2014 Results
Posted On Aug 04 ,2014 - 08:49-PM | by admin

Petrobras announces that it will disclose 2nd quarter 2014 Results on Friday, August 8th, 2014, after market closing. The company would like to invite investors and analysts for the conference call/w...

Regal Petroleum Plc reacts to Change in Ukrainian Subsoil Taxes
Posted On Aug 04 ,2014 - 08:39-AM | by admin

Regal, the AIM-quoted oil and gas exploration and production group (symbol: RPT), announces that on 31 July 2014 the Ukrainian Parliament approved a significant increase in the subsoil taxes payable b...

JKX Oil reacts to Ukrainian Emergency Legislation
Posted On Aug 04 ,2014 - 08:07-AM | by admin

The Board of JKX Oil & Gas plc ("JKX") has noted that the Ukrainian Government has passed emergency budget legislation which will substantially increase production taxes for the oil and gas industry f...

Why NNPC GMD was fired
Posted On Aug 03 ,2014 - 08:18-PM | by admin

Yakubu and the Managing Director of the Nigerian Petroleum Development Company (NPDC), Mr. Victor Briggs, were unceremoniously dumped at the weekend by President Goodluck Jonathan who immediately ...

Nigerian President Sacks Andrew Yakubu GMD of NNPC, Appoints Thlama Dawha
Posted On Aug 03 ,2014 - 08:45-PM | by admin

President Goodluck Jonathan has sacked the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu. No reason has been given for the sack. Special Advis...

Completion of Acquisition of Interests in three UK Producing Oil Fields
Posted On Aug 01 ,2014 - 08:15-PM | by admin

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) (“Ithaca” or the “Company”) reports that, further to the announcement made on 23 June 2014, it has now completed the acquisition of the three UK pro...

Oando Oil Production expected to rise with Acquisition of ConocoPhillips Nigeria
Posted On Aug 01 ,2014 - 08:12-AM | by admin

Oando Energy Resources Incorporated (OER), a subsidiary of Oando Plc, yesterday announced a swift rise in its total crude oil production capacity from just about 4,500 barrels per day (bpd) to 50,000b...

Colombia bidding round 2014 - preliminary award of 3 discovered oil fields
Posted On Aug 01 ,2014 - 08:29-AM | by admin

The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce, as part of the Colombia bidding round 2014, the preliminary award of three undeveloped fields with conventional oil discoveries, locate...

Chevron Announces Quarterly Dividend
Posted On Jul 31 ,2014 - 07:36-AM | by admin

The Board of Directors of Chevron Corporation (NYSE:CVX) today declared a quarterly dividend of one dollar and seven cents ($1.07) per share, payable September 10, 2014, to holders of common stock as ...

Shell appoints Harry Brekelmans as Projects & Technology Director
Posted On Jul 31 ,2014 - 07:48-AM | by admin

Royal Dutch Shell plc (the ‘Company’) today announces the appointment of Harry Brekelmans as Projects & Technology Director with effect from October 1, 2014. In his new role, Harry will become a...

Moscow says U.S. sanctions "unsubstantiated and illegitimate"
Posted On Jul 30 ,2014 - 07:42-PM | by admin

The sanctions imposed by the United States are a revenge on Russia, the Russian Foreign Ministry said Wednesday. "There is an impression that the American sanctions have only one aim: to get even w...

Oil depot ablaze in Libyan capital
Posted On Jul 30 ,2014 - 07:42-PM | by admin

A fire at the oil depot for the airport in Libya's capital raged out of control Monday after being struck in the crossfire of warring militias battling for control of the airfield, the latest violence...

EU and US Russian sanctions
Posted On Jul 30 ,2014 - 07:15-PM | by admin

The US introduced sanctions targeted specifically at dozens of companies, including Rosneft (the major oil producer), Gazprombank (Russia's third-largest bank) and Kalashnikov, the gun maker. "If Russ...

Tangiers Petroleum issues TAO-1 Operational Update
Posted On Jul 29 ,2014 - 07:27-PM | by admin

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or the "Company")provides the following update on the TAO-1 exploration well located in the Tarfaya Offshore Block, Morocco. The TAO-1 e...

NNPC struggles to revive its 4 refineries
Posted On Jul 29 ,2014 - 07:58-AM | by admin

The Nigerian National Petroleum Corporation (NNPC) has strategic temporary solutions to revive the ailing refineries, even as it continues negotiations with Original Equipment Manufacturers (OEM),who ...

Suicide Bomber Hits Nigeria's NNPC Mega Station
Posted On Jul 29 ,2014 - 07:36-AM | by admin

A suicide bomber suspected to be female had slipped into the crowd of citizens buying kerosene at the NNPC Mega Filling Station at Hotoro Quarter along Maiduguri Road, Kano. before detonating the exp...

SEPLAT announce Board Committee Appointments
Posted On Jul 29 ,2014 - 07:35-AM | by admin

The Board of SEPLAT Petroleum Development Company Plc ("Seplat" or "the Company"), a leading Nigerian indigenous oil and gas company, listed on both the NSE and LSE, announces the following Board Comm...

Savanna Energy Services Corp. to Release Q2 2014 Results
Posted On Jul 29 ,2014 - 07:51-AM | by admin

Savanna Energy Services Corp. intends to release its Second Quarter 2014 results after markets close on Tuesday, August 5, 2014. The results will be available on the Company’s web site after the di...

Sound Oil completes £14 million Institutional Investment
Posted On Jul 29 ,2014 - 07:16-AM | by admin

Sound Oil, the Mediterranean focused upstream oil and gas company, is pleased to announce the completion of the final stage of the £14 million institutional investment first announced by the Company ...

Nigeria's Petroleum Industry Bill get political
Posted On Jul 28 ,2014 - 07:46-AM | by admin

A civil society group, the Environmental Rights Action/Friends of the Earth Nigeria, has warned members of the National Assembly not to contemplate re-election in 2015, if they fail to pass the Petrol...

Neste Oil to publish its second quarter results on 5 August 2014
Posted On Jul 28 ,2014 - 07:08-AM | by admin

Neste Oil will publish its second quarter 2014 results on Tuesday, 5 August 2014 at approximately 9 a.m. (EET). The release will be available on the Neste Oil website immediately after publishing. A ...

Gazprom considering extension of gas supplies from Kazakhstan
Posted On Jul 24 ,2014 - 07:47-PM | by admin

In a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan. The parties discu...

China to loan $4-billion to Venezuela
Posted On Jul 23 ,2014 - 07:52-PM | by admin

China will provide Venezuela with a new $4-billion credit line under an agreement signed on Monday, with the money to be repaid by oil shipments from OPEC member Venezuela. President Nicolas Maduro...

Schlumberger Announces Third-Quarter 2014 Results Conference Call
Posted On Jul 23 ,2014 - 07:27-PM | by admin

Schlumberger Limited (NYSE:SLB) will hold a conference call on October 17, 2014 to discuss the results for the third quarter ending September 30, 2014. The conference call is scheduled to begin at ...

Exxon Mobil Moves Ahead With Russian Oil Drilling Project
Posted On Jul 23 ,2014 - 07:14-PM | by admin

Exxon Mobil, which is assisting a Russian state energy company in exploring the Arctic Ocean for oil and natural gas, took a pivotal step to further this project over the weekend. A drilling rig to...

Closing of Sale of Songa Mercur and Songa Venus
Posted On Jul 23 ,2014 - 07:55-PM | by admin

Songa Offshore SE ("Songa Offshore") has today completed the previously announced sale of the Songa Mercur and Songa Venus rigs to the Opus Offshore Group ("Opus Offshore"), in line with the press rel...

Nigeria's Former Petroleum Minister, Dead
Posted On Jul 21 ,2014 - 07:20-PM | by admin

Rilwan Lukman, a former Minister of Petroleum in Nigeria, has died in Austria. Rilwanu Lukman, one of the longest-serving heads both the Nigerian oil industry and OPEC

Royal Dutch Shell advance notice of 2nd quarter 2014 results and interim dividend announcement
Posted On Jul 21 ,2014 - 07:39-AM | by admin

On Thursday, July 31, 2014 at 07.00 BST (08.00 CEST and 02.00 EDT) Royal Dutch Shell plc will release its second quarter results and second quarter interim dividend announcement for 2014....

Production resumes on Njord A
Posted On Jul 21 ,2014 - 07:56-AM | by admin

Statoil resumed oil and gas production on the Njord A platform in the Norwegian Sea on 19 July, after a major reinforcement of the platform structure. Production has been shut down since last summer. ...

Schlumberger Declares Quarterly Dividend
Posted On Jul 17 ,2014 - 07:32-PM | by admin

The Board of Directors of Schlumberger Limited (NYSE:SLB) today declared a quarterly dividend of $0.40 per share of outstanding common stock. The dividend is payable on October 10, 2014 to stockholder...

£15m for new UK offshore oil and gas industry regulator
Posted On Jul 17 ,2014 - 07:40-PM | by admin

The UK Government has committed to £15m funding to help kick-start a national offshore oil and gas regulator. The money will be invested over the next five years in response to Sir Ian Wood's Wood...

BRICS Sign Treaty
Posted On Jul 17 ,2014 - 07:31-AM | by admin

A treaty for the establishment of the BRICS Contingent Reserve Arrangement has been signed in the framework of BRICS summit held in Brazil. BRICS is the acronym for an association of five major eme...

The Islamic State: Be Afraid, Be Very Afraid
Posted On Jul 17 ,2014 - 07:32-AM | by admin

If you think the oil industry is already too powerful, imagine that power under the control of already powerful terrorists whose aim is political supremacy over multiple territories. For the group ...

Eni report on the purchase of treasury shares
Posted On Jul 16 ,2014 - 07:20-PM | by admin

During the period from July 7 to July 11, 2014, Eni acquired n. 452,250 shares for a total consideration of € 8,925,613.91, within the authorization to purchase treasury shares approved at Eni’s G...

Back to Permian: US Oil Comes Full Circle
Posted On Jul 16 ,2014 - 07:03-PM | by admin

Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to hor...

Oil fields in the north of Iraq
Posted On Jul 16 ,2014 - 07:20-AM | by admin

A week ago Kurdish forces took control over two key oil facilities in the North of Iraq. The Iraqi Oil Ministry has denounced the takeover of the two key crude oil production facilities. "The Mini...

Iran, Russia set to promote gas cooperation
Posted On Jul 16 ,2014 - 07:16-AM | by admin

Iran and Russia, as two main gas producers, are going to increase their cooperation in the gas sector, Managing-Director of National Iranian Gas Company (NIOC), Hamid-Reza Araqi said Monday. Araqi...

NRG Energy donates $100,000 to fund solar power expansion at the Houston Food Bank
Posted On Jul 16 ,2014 - 07:36-AM | by admin

The Houston Food Bank received a $100,000 donation from NRG Energy, Inc. to support the installation of a solar array at the 308,000-square foot facility just east of downtown Houston. Before the end ...

South African government keen on fracking
Posted On Jul 15 ,2014 - 07:11-PM | by admin

Mineral Resources Minister Ngoako Ramatlhodi confirmed the state has a keen interest in drilling for shale gas itself, suggesting it could help end the historic injustices of natural resource explora...

Size of Israeli gas field 16% bigger than estimates
Posted On Jul 15 ,2014 - 07:03-PM | by admin

The size of natural gas reserves in Israel’s Leviathan offshore natural-gas field is 16.4% bigger than previously estimated, partners in the field said on Sunday. Based on an updated analysis by ...

Sonatrach to drill 4 wells in Ahnet, Illizi in 2014
Posted On Jul 15 ,2014 - 07:42-PM | by admin

Sonatrach plans to drill this year four exploration wells of shale gas in the basins of Ahnet (south of In Salah) and Illizi, after the Council of Ministers authorized the state-owned oil group to con...

Half the Domestic Gas Market Will Be In ‘Nigerian Hands’ By 2018 – Austin Avuru
Posted On Jul 15 ,2014 - 07:52-PM | by admin

Nigerian independents will be responsible for 1.5Billion Cubic Feet Per Day (1.5Bcf/d), or half of the total supply of natural gas in the Domestic gas market by 2018, in the opinion of Austin Avuru, m...

Nigerian Petroleum Development Company (NPDC), Targets Production Capacity of 250,000bpd by 2020
Posted On Jul 15 ,2014 - 07:29-PM | by admin

NPDC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) targets to raise its crude oil generating capacity from the 70,000 barrels per day recorded about few years to 250,000 barrels ...

MicroSeismic awarded contract for hydraulic fracture monitoring services
Posted On Jul 15 ,2014 - 07:29-PM | by admin

MicroSeismic, Inc. (MicroSeismic) announced that it has been awarded a large contract for hydraulic fracture monitoring services for RSP Permian (RSP) (NYSE: RSPP). MicroSeismic will provide its integ...

Honeywell Upgrades Qatar Petrochemicals Expansion
Posted On Jul 15 ,2014 - 07:29-AM | by admin

Honeywell (NYSE: HON) Process Solutions announced that it will supply a new integrated control and safety system for Qatar Fuel Additives Company’s (QAFAC) Mesaieed Industrial City plant, 50 kilome...

Gazprom is developing innovative technologies
Posted On Jul 15 ,2014 - 07:52-AM | by admin

The Gazprom Board of Directors approved the report on the progress in 2013 with Gazprom's Innovative Development Program until 2020. Gazprom Group goes on allotting considerable funds for R&D finan...

Greenpeace video criticizes Lego and Shell partnership
Posted On Jul 10 ,2014 - 07:24-PM | by admin

Greenpeace have attacked Lego for partnering with Shell in a viral video showing the a toy brick version of the Arctic being drowned in a tide of oil. The video shows elaborate scenes made entirel...

China, Russia Sign $1.6Bln Deal on Siberian LNG Project
Posted On Jul 10 ,2014 - 07:34-PM | by admin

A subsidiary of Chinese state oil giant China National Offshore Oil Corporation, or CNOOC, has signed a deal worth about $1.6 billion to build equipment for a liquefied natural gas project in Siberia,...

U.S. threatens more sanctions against Russia
Posted On Jul 10 ,2014 - 07:40-AM | by admin

The US on Wednesday threatened to slap additional sanctions against Russia " very soon," should Moscow fail to "change course" in eastern Ukraine. "We're ready to impose more costs, including targe...

$2 Billion per year loss in revenue due to Gas Flaring in Nigeria
Posted On Jul 09 ,2014 - 07:30-AM | by admin

Nigeria loses about $2 billion to gas flaring annually which is an economic crime committed by the oil companies involved in flaring, Mr. Nnimmo Bassey, an environmentalist and a delegate at the ongoi...

Fracking protest in Romania by Greenpeace
Posted On Jul 07 ,2014 - 07:50-PM | by admin

Dozens of Greenpeace campaigners chained themselves to the gates of a shale gas exploration well in Pungesti in eastern Romania, the Reuters news agency reported They insist the use of fracking techn...

ENI HQ raided in fresh investigation into billion dollar Nigerian oil scandal
Posted On Jul 07 ,2014 - 07:56-PM | by admin

It was reported that Italian financial police raided the headquarters of the oil company ENI, Italy's largest company. The raid is part of a fresh investigation into ENI's role in its acquisition of t...

Akwa Ibom Community Shuts Down ExxonMobil
Posted On Jul 07 ,2014 - 07:34-AM | by admin

Operations of Exxon Mobil, a multinational firm has been shut down by protesting youths from the host communities in Ibeno, Akwa Ibom State following what they described as recurrent oil spills and st...

Lasi-Ungheni pipeline -Romania
Posted On Jul 07 ,2014 - 07:51-AM | by admin

Moldova’s section of the Iasi-Ungheni gas pipeline will be finalised by 15 August 2014, according to Minister of Energy Razvan Nicolescu. In a conference on the issue of energy strategy of Romani...

Ithaca Energy Inc announce additional Shares Listing
Posted On Jul 07 ,2014 - 07:40-AM | by admin

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) (“Ithaca” or the “Company”) announces that certain Directors and Officers have increased their shareholdings in the Company. Share options expiring ...

DNO Resumes Yemen Production
Posted On Jul 07 ,2014 - 07:33-AM | by admin

DNO ASA, the Norwegian oil and gas operator, today announced resumption of oil production from Block 32 Howarime and Block 43 South Howarime in the Republic of Yemen. DNO ASA is an Oslo-listed, Mid...

Caza Oil & Gas completes placing of 32,679,739 common shares
Posted On Jul 07 ,2014 - 07:11-AM | by admin

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ) (AIM:CAZA) is pleased to announce that it has completed the placing of 32,679,739 common shares (the "Placing Share") at a price of £0.18 per ...

United Hydrocarbon announces lawsuit
Posted On Jul 04 ,2014 - 07:36-PM | by admin

United Hydrocarbon International Corp. ("United" or the "Company") announces that it has been served with a Statement of Claim with respect to the ownership of the Company's Production Sharing Contrac...

West Zhetybai field, Kazakh State
Posted On Jul 04 ,2014 - 07:31-AM | by admin

Jupiter Energy Limited (ASX: "JPR", AIM: "JPRL" and KASE: "AU_JPRL") advised that the relevant Kazakh State Bodies have approved the Preliminary Reserves Report for the West Zhetybai field. The app...

Setback to fracking in New York State
Posted On Jul 03 ,2014 - 07:18-AM | by admin

The upstate town of Dryden, was taken to court by an energy company after it prohibited fracking. By a 5-2 vote, the New York Court of Appeals, the state’s highest court, ruled that the actions t...

Eni reports on the purchase of treasury shares
Posted On Jul 02 ,2014 - 07:24-PM | by admin

Following the purchases announced today, considering the treasury shares already held, on 27 June 2014 Eni holds n. 22,830,037 shares equal to 0.63% of the share capital. During the period from Jun...

Elena Burmistrova appointed Director General of Gazprom Export
Posted On Jul 02 ,2014 - 07:15-AM | by admin

Elena Burmistrova was appointed Director General of Gazprom Export. This decision was made due to a considerable increase in the day-to-day business and its geographical expansion, as well as product ...

LNG and FLNG projects rise globally with increasing energy demand
Posted On Jul 02 ,2014 - 07:12-AM | by admin

Increasing demand in natural gas is seeing a rise in LNG and FLNG projects. Global Gas Opportunities Summit will look closely at the recent developments in the gas industry. Recently BP's Chief Exe...

South Stream Transport obtains construction permit for South Stream in Russia
Posted On Jul 02 ,2014 - 07:33-AM | by admin

The Ministry of Construction, Housing and Utilities of the Russian Federation granted today a construction permit to South Stream Transport for the South Stream gas pipeline in Russia. South Stream T...

Nigeria to Support EU Long Term Gas Supply Security
Posted On Jul 01 ,2014 - 07:46-PM | by admin

The Federal Government has stated its resolve to support the long term gas supply security for the European Union countries as part of measures to expand the nation’s gas market across veritable fro...

OPEC daily basket price stood at $108.59 a barrel Monday, 30 June 2014
Posted On Jul 01 ,2014 - 07:55-PM | by admin

The price of OPEC basket of twelve crudes stood at 108.59 dollars a barrel on Monday, compared with $109.17 the previous Friday, according to OPEC Secretariat calculations. (View Archives) Oil pric...

Letho Announces Signing of Letter of Intent to Acquire Interest in Namibia Oil & Gas Licenses
Posted On Jul 01 ,2014 - 07:16-PM | by admin

Letho Resources Corp. ("Letho" or the "Company") (TSX VENTURE:LET) announce that it has signed a letter of intent with Incan Energy Inc. ("Incan") whereby the parties have agreed to negotiate the defi...

Polarcus receives Letter of Intent for 3D seismic acquisition
Posted On Jul 01 ,2014 - 07:36-PM | by admin

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announce that the Company has received a Letter of Intent for a 3D marine seismic acquisition project for an undisclosed client offshore West...

Marathon Petroleum to announce 2014 second-quarter financial results
Posted On Jul 01 ,2014 - 07:39-AM | by admin

Marathon Petroleum Corporation (NYSE: MPC) announced that it will host a conference call on Thursday, July 31, at 10 a.m. EDT to discuss 2014 second-quarter financial results, which will be released e...

6MW Freetown Solar Park project
Posted On Jun 30 ,2014 - 06:05-PM | by admin

Sierra Leone Ministry of Finance and Economic Development (http://mofed.gov.sl) is pleased to announce that Sierra Leone has won the first call for proposals for the prestigious International Renewabl...

Sale of Songa Mercur and Songa Venus
Posted On Jun 30 ,2014 - 06:48-AM | by admin

Closing of the sales of the rigs Songa Mercur and Songa Venus from Songa Offshore SE to companies within the Opus Offshore Group, previously contemplated to take place within second quarter 2014, is n...

Incident at Monroe County, Ohio Statoil well pad
Posted On Jun 30 ,2014 - 06:56-AM | by admin

The fire reported on June 28 at Statoil’s onshore Eisenbarth well pad in Monroe County, Ohio has been extinguished but follow-up work is continuing. The fire involved equipment at the location. T...

Shell completed sell-down of 78 million shares in Woodside
Posted On Jun 18 ,2014 - 06:17-PM | by admin

Further to the announcement on 17 June 2014, Royal Dutch Shell plc (“Shell”) confirms its subsidiary has completed the sell-down of 78.27 million shares of Woodside Petroleum Limited (“Woodside...

Shell Shuts in 40,000bpd Crude Oil Production in Nigeria
Posted On Jun 13 ,2014 - 06:44-AM | by admin

Shell Petroleum Development Company of Nigeria Limited (SPDC) has suspended crude oil production at the EA field for repair of the Soft Yoke Mooring Platform (SYMP), which connects the Floating Produc...

Tangiers announce resignation of Joint Company Secretary
Posted On Jun 13 ,2014 - 06:00-AM | by admin

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or the "Company")announces the resignation of Dr Iva Stejskal as Joint Company Secretary, effective close of business 13 June 2014. The Di...

Aker Solutions Appoints David Phillips as Head of Industry and Investor Relations
Posted On Jun 13 ,2014 - 06:07-AM | by admin

Aker Solutions has recruited David Phillips from HSBC Global Equity Research as head of industry and investor relations. He will start on June 17. Phillips, 43, served as global co-head of oil an...

Aker Solutions Sells Fornebu Hotel Property
Posted On Jun 13 ,2014 - 06:29-AM | by admin

Aker Solutions has sold its stake in Quality Hotel Expo in Fornebu outside of Oslo for NOK 447 million. The company divested its 93 percent holding in the property to Fornebu Hotellinvest AS, a syn...

UK launches subsea research centre
Posted On Jun 12 ,2014 - 06:47-PM | by admin

A new research centre has been launched to address challenges that are being faced in the UK Continental Shelf (UKCS) and the worldwide subsea industry. The National Subsea Research Institute (NSRI...

Faroe Petroleum plc , 2013 Annual Report and Notice of AGM
Posted On Jun 11 ,2014 - 06:05-PM | by admin

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the Atlantic margin and the North Sea, announces that the Co...

OPEC daily basket price stood at $105.89 a barrel Tuesday, 10 June 2014
Posted On Jun 11 ,2014 - 06:01-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.89 dollars a barrel on Tuesday, compared with $105.72 the previous day, according to OPEC Secretariat calculations....

China defends legitimacy of oil rig in S. China Sea
Posted On Jun 11 ,2014 - 06:22-PM | by admin

In an article posted on its Foreign Ministry website, China has defended the legitimacy of its oil drilling rig in the South China Sea, urging Vietnam to stop provocative actions. The article says the...

Non-passage of PIB delays Nigeria LNG train 7 project
Posted On Jun 10 ,2014 - 06:59-PM | by admin

“The delay in the passage of the Petroleum Industry Bill, PIB, is one of the major hindrances to the progress of the project.” The long delay in the passage into law of the draft Petroleum Indu...

Nigeria: Shell, Schlumberger, Others Invest $1bn in Snake Island Integrated Free Zone
Posted On Jun 10 ,2014 - 06:41-PM | by admin

Shell Nigeria Exploration and Production Company (SNEPCO), Schlumberger, Globestar, Atlantic Aviation and 19 other enterprises operating within the Snake Island Integrated Free Zone (SIIFZ) in Lagos h...

Morgan Stanley to Sell TransMontaigne Ownership Stake to NGL Energy Partners
Posted On Jun 10 ,2014 - 06:47-PM | by admin

Morgan Stanley (NYSE:MS) announced a definitive agreement to sell its ownership stake in TransMontaigne Inc., a U.S.-based oil storage, marketing and transportation company, to NGL Energy Partners LP....

Spirax Sarco to conduct a workshop at the Global Refining Technology Forum Qatar
Posted On Jun 09 ,2014 - 06:25-AM | by admin

Global Refining Technology Forum Qatar will see a workshop on Advance steam condensate system - challenges and solutions conducted by Spirax Sarco Qatar Petroleum in a recent joint venture agreemen...

NNPC to explore gas sales potential in european market
Posted On Jun 09 ,2014 - 06:33-AM | by admin

Nigeria's National Petroleum Corporation (NNPC) has disclosed that it is looking for more markets for Nigeria’s gas. It stated that it was looking further into the European markets for sale of ga...

Noble Corporation Provides Fleet Contract Status Update
Posted On Jun 06 ,2014 - 06:35-PM | by admin

Noble Corporation (NYSE:NE) today announced that its report of drilling rig status and contract information has been updated as of June 5, 2014. The report, titled "Fleet Status Report," can be found...

European demand for Russian natural gas continued to grow
Posted On Jun 06 ,2014 - 06:44-AM | by admin

In 2013 the volume of Gazprom Group’s gas sales to the countries beyond the CIS hit the record figure of 174.3 billion cubic meters since the 2008 crisis, which accounts for one-third of the total g...

Urals Energy gets loan from Petraco Oil Company Limited
Posted On Jun 06 ,2014 - 06:31-AM | by admin

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that it has entered into a secured short-term loan agreement with Petraco under whic...

SEPLAT Petroleum give notice of AGM
Posted On Jun 06 ,2014 - 06:18-AM | by admin

SEPLAT Petroleum Development Company Plc announces that its 2014 Annual General Meeting will be held at the Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, Nigeria on Monday 30 June 2014 at...

Max Petroleum announce appointment of Nominated Adviser
Posted On Jun 06 ,2014 - 06:28-AM | by admin

Max Petroleum plc (the "Company"), an oil and gas company focused on Kazakhstan, announced the appointment of Oriel Securities Limited as Nominated Adviser with immediate effect. Oriel Securities wil...

Nigeria Petroleum Industry Bill (PIB) still awaiting passage in National Assembly
Posted On Jun 05 ,2014 - 06:34-AM | by admin

Alison-Madueke commented yesterday at an interactive forum on the Petroleum Industry Bill (PIB) which is awaiting passage at the National Assembly. She warned that the development should spur Nigerian...

Hess Announces Regular Quarterly Dividend On Common Stock
Posted On Jun 05 ,2014 - 06:03-AM | by admin

The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on June 30, 2014 to holders of re...

Serica Energy gives Notice of AGM
Posted On Jun 03 ,2014 - 06:33-PM | by admin

Serica Energy plc (TSX & AIM: SQZ) announces that the 2014 Annual General Meeting of shareholders ("AGM") will be held on Thursday 26 June 2014 at 10am (British Summer Time) at the offices of Instinct...

McDermott Consortium Selected in Gendalo-Gehem Tender Process
Posted On Jun 03 ,2014 - 06:56-PM | by admin

McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced that a consortium, which includes subsidiaries of McDermott and PT Encona Inti Industri, has been notified of its selection as the...

Oil and Gas jobs in Oman
Posted On Jun 03 ,2014 - 06:05-AM | by admin

Up to 50,000 jobs for Omanis are set to be created by the oil and gas industry by 2020, according to Petroleum Development Oman (PDO) Managing Director Raoul Restucci. "I am confident that between ...

Oil tanker from Kurdistan finds no takers in the U.S.
Posted On Jun 03 ,2014 - 06:49-AM | by admin

A crude oil tanker with oil from Kurdistan, heading toward the U.S. Gulf Coast, reversed its course after The U.S. State Department said that any buyer who purchases the oil could risk a legal suit fr...

Iraq crude oil exports rise in May 2014
Posted On Jun 03 ,2014 - 06:13-AM | by admin

Iraq crude oil exports increased slightly in May despite a militant attack in March that had kept a crucial oil pipeline inactive. The Iraq Oil Ministry said in a report that exports of oil average...

Tullow Oil appoints Mike Daly as a non-executive Director
Posted On Jun 02 ,2014 - 06:11-AM | by admin

Tullow Oil plc (Tullow) is pleased to announce the appointment of Dr. Michael Daly as a non-executive Director with effect from 1 June 2014. Mike Daly joins Tullow with extensive oil & gas experien...

NNPC / Shell Cup
Posted On May 30 ,2014 - 05:55-PM | by admin

Shell and Feyenoord strengthen cooperation Shell Nigeria wants cooperation with Feyenoord around the NNPC / Shell Cup consolidate in the coming years. The NNPC / Shell Cup is a prestigious national...

Petroceltic 's Response to Worldview Announcements
Posted On May 30 ,2014 - 05:26-AM | by admin

Petroceltic International plc (‘Petroceltic’ or ‘the Company’), the upstream oil and gas exploration, development and production company focused on the Middle East and North Africa (MENA), the...

Eni Board of Directors approves the measures to carry out the programme of share repurchases
Posted On May 28 ,2014 - 05:16-PM | by admin

Following the approval of the share buyback programme at the Shareholders’ Meeting held on 8 May 2014 and announced to the market, the Board of Directors has approved the measures to carry out the p...

Acquisition of Panoro Energy Shares by Afrique Energie Corporation
Posted On May 28 ,2014 - 05:49-PM | by admin

Gasol, the AIM listed gas to power company, announced that its associate company, Afrique Energie Corporation, has purchased 23,600,000 shares in Panoro Energy ASA, constituting 10.06 per cent. of the...

Leni Gas & Oil PLC
Posted On May 28 ,2014 - 05:45-AM | by admin

LGO announces that the second of its Goudron development wells, GY-665, was successfully spudded at 14:50 hours (Trinidad time) yesterday and is now drilling ahead. ...

OPEC daily basket price as at Monday, 26 May 2014
Posted On May 27 ,2014 - 05:21-PM | by admin

The price of OPEC basket of twelve crudes stood at 106.73 dollars a barrel on Monday, compared with $106.92 the previous Friday, according to OPEC Secretariat calculations. ...

Iran to Increase Gas Condensates Output
Posted On May 27 ,2014 - 05:23-PM | by admin

Iranian Deputy Oil Minister Abbas Kazzemi underlined the ministry's determination to boost the country's gas condensates production through implementation of several mini-refineries in the Southern pr...

COSL Receives 3 Awards at the China Center for Market Value Management of Listed Companies
Posted On May 27 ,2014 - 05:53-PM | by admin

China Oilfield Services Limited ("COSL" or the "Company") announced that at the 8th Annual China Center for Market Value Management of Listed Companies Forum, COSL was included in the league of Top 10...

Hays Oil & Gas Job Index Q1 2014
Posted On May 27 ,2014 - 05:59-AM | by admin

Hays Oil & Gas reports that this quarter they have found that new projects and investment have led to an increase in hiring, however, skills shortages continue to impact employers globally. The Hay...

Hess to Continue “Hess Toy Truck” Tradition
Posted On May 27 ,2014 - 05:15-AM | by admin

Following the announcement that Hess Corporation is selling its retail business to Marathon Petroleum Corporation, Hess confirmed that it will produce a 2014 Hess Toy Truck, that will be the 50th ann...

Jurassic Shale of the Weald Basin shale oil and shale gas resource estimation
Posted On May 23 ,2014 - 05:26-PM | by admin

The British Geological Survey (BGS) in association with the Department of Energy and Climate Change (DECC) has completed an estimate for the amount of shale oil and shale gas in the Weald Basin in sou...

Seplat Confident of Winning Chevron's Assets
Posted On May 23 ,2014 - 05:32-PM | by admin

The company’s Chief Executive Officer, Mr. Austin Avuru was quoted by Reuters to have said this during the presentation of Seplat's interim management statement. He said the company had appealed aga...

ONGC advances two places in Forbes Global Oil and Gas Club
Posted On May 22 ,2014 - 05:27-PM | by admin

Indian Energy Maharatna ONGC has moved up two places in Forbes ranking of the global players in oil and gas operation industry. ONGC has moved up two places to 21st position from previous 23rd it held...

Gas stocks in China rises after Russian supply deal
Posted On May 22 ,2014 - 05:36-PM | by admin

Shares of mainland gas distributors rose yesterday after Beijing signed a long-awaited US$400 billion gas import deal with Russia that is expected to boost their sales, but investor concern weighed on...

Philex Petroleum in talks with CNOOC to drill oil wells in the South China Sea
Posted On May 22 ,2014 - 05:57-PM | by admin

A unit of Philippine firm Philex Petroleum is revisiting talks with Chinese state oil giant CNOOC to drill two oil wells in disputed waters in the South China Sea, its chairman Manuel Pangilinan said ...

Saudi Aramco says downstream investments would exceed $100 billion over the next decade
Posted On May 22 ,2014 - 05:26-PM | by admin

CEO Khalid Al-Falih made the announcement at the ongoing Middle East Petrotech 2014, a Middle East refining and petrochemicals conference and exhibition, held in Bahrain. "Globally, these investmen...

U.S. imports of crude oil from Africa fell by more than 90 percent between 2010 and early 2014
Posted On May 22 ,2014 - 05:51-AM | by admin

African crude oil exports to the United States averaged 170,000 barrels per day (bbl/d) for the first four months of 2014 as rapidly rising U.S. crude production has reduced U.S. refiner demand for im...

Tethys on Track for a 15 Year Extension to Kyzyloi Gas Contract
Posted On May 21 ,2014 - 05:34-PM | by admin

Tethys Petroleum Limited today announced that the Kazakh State Reserves Committee (GKZ) has approved the Company's gas reserve evaluation for the Kyzyloi Production Contract area (the "Contract"). Thi...

Bakken crude is like other light crudes & meets current safety requirements for rail shipment
Posted On May 21 ,2014 - 05:16-PM | by admin

A comprehensive third-party study released today by the North Dakota Petroleum Council (NDPC) shows that Bakken crude oil is very similar to other light crudes and meets all federal regulations and ta...

China, Russia sign gas deal
Posted On May 21 ,2014 - 05:41-PM | by admin

China and Russia today signed the long-awaited gas deal in Shanghai, ending the decade-long natural gas supply talks between them. Two documents, China and Russia Purchase and Sales Contract on Eas...

CME Group Declares Dividend
Posted On May 21 ,2014 - 05:29-AM | by admin

CME Group Inc., the world's leading and most diverse derivatives marketplace, declared a second-quarter dividend of $0.47 per share, payable June 25, 2014, to shareholders of record as of June 10, 201...

GS E&C consortium wins $1.44 bln UAE crude oil processing plant deal
Posted On May 20 ,2014 - 05:14-PM | by admin

GS Engineering & Construction, one of South Korea's leading builders, said Tuesday it won a US$1.44 billion crude oil processing plant deal in the United Arab Emirates (UAE) by forming a consortium wi...

US Secretary of Commerce, Visit Nigeria and Ghana
Posted On May 20 ,2014 - 05:00-PM | by admin

The United States Secretary of Commerce, Penny Pritzker, is leading 20 American companies on an energy business development trade mission to West Africa, specifically to Ghana and Nigeria. Secretary P...

NNPC Jetty Explosion in Nigeria
Posted On May 19 ,2014 - 05:28-AM | by admin

The Port Harcourt Refinery Jetty in Okrika Local Government Area of Rivers State was rocked by an explosion on Sunday according to various agency reports. It was gathered that several persons were...

Jordan, Iraq plan to build refinery in Aqaba
Posted On May 19 ,2014 - 05:45-AM | by admin

Jordan and Iraq started talks to build a refinery in the Red Sea city of Aqaba south of the Kingdom, an Iraqi official said on Sunday. Adnan Al Janabi, chairman of Iraq's energy parliamentary commi...

ConocoPhillips Donates More Than $1 Million to The University of Texas at Austin
Posted On May 16 ,2014 - 05:50-PM | by admin

ConocoPhillips (NYSE: COP) continued its commitment of funding quality higher education at The University of Texas at Austin yesterday with a contribution of $1.185 million. A portion of the donati...

Force majeure on on Crude Exports from Forcados Terminal lifted
Posted On May 16 ,2014 - 05:15-AM | by admin

Shell’s Media Relations Manager, Mr. Precious Okolobo, confirmed in a statement that the force majeure was lifted yesterday. “SPDC lifts force majeure on crude exports from Forcados terminal, e...

U.S. crude production continues to rise
Posted On May 15 ,2014 - 05:58-PM | by admin

The crude oil output in the United States rose 78,000 barrels a day to 8.428 million barrels last week, the most since 1986, thanks to a burgeoning shale production, the statistical arm of the U.S. De...

Oil Spill in Atwater Village, California
Posted On May 15 ,2014 - 05:38-PM | by admin

At least 50,000 gallons of crude oil spilled over a half-mile area after an above-ground 20-inch oil line broke around 1 a.m. Thursday near 5175 W. San Fernando Rd. Oil was seen shooting 15 to 20 f...

Centrica and QPI to acquire further gas assets in Canada
Posted On May 15 ,2014 - 05:07-AM | by admin

CQ Energy Canada Partnership (CQE), the joint venture between Centrica plc and Qatar Petroleum International (“QPI”), has agreed to acquire a package of natural gas assets in the Foothills region ...

Eni amendmends 2014 financial calendar
Posted On May 15 ,2014 - 05:05-AM | by admin

Eni announces that the meeting of the Board of Directors convened to resolve the distribution of an interim dividend for the year 2014, which was scheduled for 18 September 2014, has been brought for...

Three Indians get 15yrs jail term for illegal bunkering in Bayelsa State, Nigeria
Posted On May 15 ,2014 - 05:17-AM | by admin

A Federal High Court, sitting in Yenagoa, Balyesa State, has convicted three Indian nationals, Ajay Bhatiya (owner of Vessel MT Akshay), Sailesh Kumar Singh, (the captain of the vessel) and Chadrashek...

Repsol Sells Argentinean Bonds to JP Morgan
Posted On May 14 ,2014 - 05:35-AM | by admin

Repsol has agreed with JP Morgan several sale operations of the bonds delivered by the Republic of Argentina as a means of payment of the compensation for the expropriation of the controlling stake of...

ConocoPhillips Announces Quarterly Dividend
Posted On May 14 ,2014 - 05:21-AM | by admin

ConocoPhillips (NYSE: COP) today announced a quarterly dividend of 69 cents per share, payable June 2, 2014, to stockholders of record at the close of business on May 23, 2014....

China, Turkmenistan cooperation on energy
Posted On May 14 ,2014 - 05:36-AM | by admin

Turkmen President Gurbanguly Berdymukhamedov arrived in Beijing on Sunday to pay a three-day state visit to China as a guest of Chinese President Xi Jinping. On Monday, Xi and Berdymukhamedov sign...

OPEC daily basket price stood at $104.50 a barrel Tuesday, 13 May 2014
Posted On May 14 ,2014 - 05:52-AM | by admin

OPEC raised its forecast on the demand for its oil in 2014 to 29.8 million barrels per day (bpd), 110,000 bpd higher than its previous projection, the cartel said Tuesday. In its latest monthly rep...

Azerbaijan to resume gas exports to Russia
Posted On May 14 ,2014 - 05:27-AM | by admin

Azerbaijan's state oil company (SOCAR) aims to resume gas supply to Russia after completing the restoration work on the gas pipeline running in a northerly direction, SOCAR head Rovnag Abdullayev said...

Marathon Oil Corporation to Participate in UBS Global Oil and Gas Conference
Posted On May 14 ,2014 - 05:39-AM | by admin

Marathon Oil Corporation (NYSE: MRO) announced that John R. (J.R.) Sult, Marathon Oil executive vice president and chief financial officer, will present at the UBS Global Oil and Gas Conference in Aus...

U.A.E., Tajikistan joint committee discuss cooperation
Posted On May 14 ,2014 - 05:32-AM | by admin

The first meeting of the U.A.E. and Tajikistan Joint Committee discussed here on Monday new avenues for cooperation in various fields that include the economy, investment, trade, energy, oil and gas, ...

Maqam Echahid redefines Algiers skyline with spectacular Philips LED digital lighting
Posted On May 13 ,2014 - 05:41-AM | by admin

Algiers iconic “Independence monument” illuminated with innovative, energy-efficient lighting during Philips’ fifth consecutive Cairo to Cape Town Roadshow

Tangiers Petroleum to raise A$5mln ahead of Morocco drilling
Posted On May 13 ,2014 - 05:11-AM | by admin

Tangiers Petroleum (LON:TPET) confirmed its funding plans, with A$5mln being raised through a private placing of shares to certain institutional and sophisticated investors. The cash is intended to...

Qatar Petroleum to invest QAR 40 bln (USD 11 billion) in Bul Hanine oilfield
Posted On May 12 ,2014 - 05:37-PM | by admin

Qatar Petroleum on Friday unveiled a plan to invest over QAR 40 billion (about USD 11 billion) in the redevelopment of Bul Hanine offshore oilfield, some 120 km off the eastern coast of Qatar. The ...

Egdon Resources comments on Alkane Energy's onshore shale assets
Posted On May 12 ,2014 - 05:25-PM | by admin

Egdon Resources plc (AIM:EDR) notes the press commentary on Saturday 10 May and confirms it is in advanced discussions with Alkane Energy on a potential transaction involving an acquisition of Alkane'...

Lac Dinga Potash Project, Republic of Congo
Posted On May 12 ,2014 - 05:18-PM | by admin

African Potash Limited, the AIM listed African exploration company, announce that it has secured financial and technical resources with an aggregate value of approximately $2m to commence its "Phase 1...

Seplat’s Market Value Rises by N6.8bn to N377bn
Posted On May 12 ,2014 - 05:50-AM | by admin

The market capitalisation of Seplat Petroleum Development Company Plc increased by N6.841 billion, following listing of additional 10.026 million shares of 50 kobo of the company on the Nigerian bour...

SEPLAT to boost powersupply with $300m gas plant‐ Signs contractwithAzura‐Edo IPP
Posted On May 12 ,2014 - 05:36-AM | by admin

Seplat Petroleum Development Company Plc has announced the signing of a major gas sale and supply contract which will leverage NPDC/ Seplat's ($300m) investment in gas domestication busin...

Dubai to Host 5th Middle East FireSafe Conference
Posted On May 12 ,2014 - 05:25-AM | by admin

The 5th Middle East FireSafe Conference to focus on the functionality of fire safety benchmarks in the Middle East Most fire outbreaks are due to the lack of following safety measures or ignorance ...

Offshore Chopper Crash in Ghana
Posted On May 09 ,2014 - 05:10-PM | by admin

Lukoil Overseas, operator of international upstream projects of Lukoil Group, confirmed that on Thursday, May 8, a helicopter crashed in the coast waters of the Republic of Ghana 3.4 nautical miles (...

Nigeria FG Rules out Impending Crisis over IOC’s Divestments
Posted On May 08 ,2014 - 05:27-PM | by admin

The Nigerian federal government has given a firm assurance that the spate of divestment of assets by international oil companies (IOCs) will not result in a crisis in the Nigerian oil and gas sector, ...

U.A.E Minister of Energy and Egyptian Ambassador discuss cooperation in the field of energy
Posted On May 08 ,2014 - 05:49-AM | by admin

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, and Ihab Imam Hamouda, Ambassador of Egypt to the U.A.E., have discussed bilateral relations between the U.A.E. and Egypt and joint coo...

Iran defends oil output in face of sanctions
Posted On May 07 ,2014 - 05:50-PM | by admin

Iran’s oil minister robustly defended the country’s production capabilities yesterday and said if sanctions are lifted foreign companies would mostly be confined to a supporting role. With some...

Neste Oil Corporation: Share Repurchase 7.5.2014
Posted On May 07 ,2014 - 05:24-PM | by admin

Neste Oil Corporation Announcement 7.5.2014 Share Repurchase 7.5.2014 In the Helsinki Stock Exchange Trade date 7.5.2014 Bourse trade BUY Share NES1V Amount 41.000...

ADNOC to continue investing in oil and gas to ensure steady supplies
Posted On May 07 ,2014 - 05:55-PM | by admin

Abu Dhabi national Oil Company (ADNOC) will continue investing in projects to boost production to ensure reliable and steady supply of oil and gas, a company official has said. Addressing the 9th m...

Abu Dhabi's ADNOC seeks stronger partnership with US energy firms
Posted On May 07 ,2014 - 05:39-PM | by admin

Senior executives from the Abu Dhabi National Oil Company (ADNOC) taking part in Offshore Technology Conference (OTC 2014) currently being organised in Houston, Texas, U.S.A., have discussed ways of s...

China , Nigeria rail contract signed
Posted On May 07 ,2014 - 05:31-PM | by admin

China Railway Construction Corp Ltd has signed a $13.1 billion deal to build a high-speed railway in Nigeria, as China's pushes to develop fast rail and other infrastructure projects on the continent....

Chinese Premier in Nigeria
Posted On May 07 ,2014 - 05:52-AM | by admin

Chinese Premier Li Keqiang arrived here yesterday for a visit to Nigeria, the second leg of his first Africa visit since he took office in 2013. The ongoing three-day visit to Nigeria is expected to ...

ROLLS-ROYCE SIGNS AGREEMENT TO SELL ITS ENERGY GAS TURBINE AND COMPRESSOR BUSINESS TO SIEMENS
Posted On May 07 ,2014 - 05:42-AM | by admin

Rolls-Royce announced today that it has signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a £785 million cash consideration. The business being sold suppli...

Chevron starts shale gas exploration in Romania
Posted On May 06 ,2014 - 05:07-PM | by admin

Chevron said it has started drilling its first exploration well for shale gas in Romania. "Chevron can confirm that drilling activities have commenced at its exploration well site" near the villag...

Bosnia Seeks Adviser for Oil, Gas Concession
Posted On May 06 ,2014 - 05:09-PM | by admin

The energy ministry of Bosnia’s Muslim-Croat Federation said it has called a tender for a consultant that will advise it with regards to the planned award of a concession for oil and gas exploration...

CAMAC Energy Schedules First Quarter 2014 Earnings Conference Call for May 8
Posted On May 02 ,2014 - 05:50-PM | by admin

CAMAC Energy Inc. (NYSE MKT: CAK) will host a conference call on Thursday, May 8, 2014 at 9 a.m. CT (10 a.m. ET) to discuss its first quarter 2014 financial and operating results. Earnings will be rel...

Aker Solutions ASA: Mandatory Notification of Trade
Posted On May 02 ,2014 - 05:51-PM | by admin

Concurrent with the expiration of the total return swap reported on November 1, 2013, Aker ASA ("Aker") has today acquired 891,762 shares in Aker Solutions ASA ("AKSO") at a price of NOK 97.75 per sha...

Iran cancels CNPC contract for Azadegan oilfield
Posted On May 02 ,2014 - 05:28-AM | by admin

Iran has terminated China National Petroleum Corporation's (CNPC) contract to develop the Azadegan oilfield after the Chinese energy giant ignored repeated appeals to work on it, Iranian news agency s...

Delays forseen in sale of Shell assets in Nigeria
Posted On May 01 ,2014 - 05:57-AM | by admin

Shell, has said that it may take up to a year for it to complete the planned sale of its oil assets in Nigeria. It also said that the process may be complicated by the upcoming Nigerian general ele...

Chevron Announces Quarterly Dividend
Posted On May 01 ,2014 - 05:19-AM | by admin

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and seven cents ($1.07) per share, payable June 10, 2014, to holders of common stock as show...

Neste Oil Corporation Announce Share Repurchase
Posted On Apr 30 ,2014 - 04:34-PM | by admin

Share Repurchase 30.4.2014 In the Helsinki Stock Exchange Trade date 30.4.2014 Bourse trade BUY Share NES1V Amount 50.000 shares Total cost 746.525,00 EUR Average ...

Annual Report 2013 for Songa Offshore SE
Posted On Apr 30 ,2014 - 04:32-PM | by admin

Please note that following the agreement with Opus Offshore for the sale of the two drilling rigs Songa Mercur and Songa Venus on 25 April 2014, the following adjustments have been made in the 2013 fi...

Royal Dutch Shell plc announce revised 2014 interim dividend timetable
Posted On Apr 30 ,2014 - 04:39-PM | by admin

The Board of Royal Dutch Shell plc today announced a revised intended timetable for the 2014 quarterly interim dividends. This timetable takes into account changes made by the London Stock Exchange an...

Baker Hughes, Major Oil And Gas Firm, Set To Disclose Fracking Chemicals
Posted On Apr 28 ,2014 - 04:40-PM | by admin

The oil and gas industry has said the fracking chemicals are disclosed at tens of thousands of wells, but environmental and health groups and government regulators say a loophole that allows companies...

Schlumberger Announces Second-Quarter 2014 Results Conference Call
Posted On Apr 28 ,2014 - 04:47-PM | by admin

Schlumberger Limited (NYSE:SLB) will hold a conference call on July 18, 2014 to discuss the results for the second quarter ending June 30, 2014. The conference call is scheduled to begin at 7:00 am (...

Nigeria seeks alternative markets for its crude oil
Posted On Apr 28 ,2014 - 04:07-AM | by admin

The federal government has been looking for alternative markets for its crude oil since the growing oil output in the US and the discovery of shale gas reduced North American demand for light sweet cr...

Nigeria Minister of Petroleum Resources Defends Award of 60% of Oil Contracts to Local Firms
Posted On Apr 28 ,2014 - 04:26-AM | by admin

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said the recent award of crude oil term contracts primarily to indigenous oil and gas companies is part of the federal government’s ...

Cuadrilla announces updated plans for Becconsall site
Posted On Apr 28 ,2014 - 04:29-AM | by admin

Cuadrilla will be applying for planning permission in order to allow time to carry out measurement of the pressure of the gas in the shale rock at its Becconsall well, near Banks The well will not ...

Leni Gas & Oil Company Update
Posted On Apr 24 ,2014 - 04:30-PM | by admin

LGO today announces that, after careful consideration, the Board has decided not to petition the Court of Appeal in its case brought in January 2013 against Mediterranean Oil and Gas plc. The Compan...

Texas family wins $2.925 million verdict for ‘first fracking trial’
Posted On Apr 24 ,2014 - 04:25-AM | by admin

A jury in Dallas, Texas awarded $2.925 million to plaintiffs Bob and Lisa Parr, who sued Barnett shale fracking company Aruba Petroleum Inc. for intentionally causing a nuisance on the Parr's property...

Aiteo, Taleveras, Barbedos, Others Win $40bn Oil Lifting Contracts in Nigeria
Posted On Apr 23 ,2014 - 04:09-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) has awarded yearly crude oil lifting term contracts for 2014/2015 of about $40 billion to mostly Nigerian companies comprising Aiteo, Taleveras, Barb...

Noble Energy Announces Its First Quarter 2014 Earnings Webcast and Conference Call
Posted On Apr 23 ,2014 - 04:22-PM | by admin

Noble Energy, Inc. (NYSE: NBL) will host its first quarter 2014 earnings webcast and conference call at 9:00 a.m., Central Time, Thursday, April 24, 2014. The Company plans to issue its financial and...

Midway Resources seeks buyout at €1.3bn field
Posted On Apr 22 ,2014 - 04:24-PM | by admin

A POTENTIAL €1.3bn Nigerian oilfield project backed by former Anglo Irish Bank chairman Sean FitzPatrick may help clear the bankrupt banker's €110m debts if it is sold to a rival oil firm. Ca...

EZ Flow, will revolutionize how oil is produced and distributed says PetroMotion
Posted On Apr 22 ,2014 - 04:10-AM | by admin

New Additive Will Revolutionize Heavy Oil Production and Transportation And Save Producers at least $4 - $5 per barrel Oil production continues to surge in Alberta and with it the use of diluent, ligh...

Anadarko Schedules First-Quarter 2014 Earnings Conference Call for May 6
Posted On Apr 17 ,2014 - 04:10-AM | by admin

Anadarko Petroleum Corporation (NYSE: APC) will host a conference call on Tuesday, May 6, 2014, at 8 a.m. CDT (9 a.m. EDT) to discuss its first-quarter 2014 financial and operating results. Earnings w...

OPEC production drops
Posted On Apr 15 ,2014 - 04:45-PM | by admin

OPEC production fell by 890,000 barrels a day to 29.6 million in March, the Paris-based IEA said in its monthly oil market report. The group will need to pump 30.6 million barrels a day in the second ...

Total Cuts Angolan Oil Project Costs to $16 Billion
Posted On Apr 15 ,2014 - 04:58-PM | by admin

Total SA (FP), Europe’s third-largest oil company, cut the cost of its Kaombo project off Angola by about a fifth to $16 billion as it decided to proceed with the development. The company and par...

Abu Dhabi National Oil Company (ADNOC) signs rig deal
Posted On Apr 11 ,2014 - 04:49-PM | by admin

ADNOC has signed a new deal with US company National Oilwell Varco for the construction of a new rig, to be built in the UAE, which will help ADNOC’s main onshore operator increase output to 1.8m ba...

Yingli Green Energy in China Commence Construction
Posted On Apr 11 ,2014 - 04:48-PM | by admin

Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Ying...

VNG Norge has entered into a farm-in agreement with Tullow Oil Norge for a 10 % share in PL550
Posted On Apr 11 ,2014 - 04:20-PM | by admin

PL550 lies in the North Sea, in the same area as two of our newly awarded production licences from APA 2013, PL741 and PL742, and in the vicinity of the Brage field. It is a prospective area with hope...

Mexican Petroleum Institute and GE Oil & Gas sign technological partnership agreement
Posted On Apr 11 ,2014 - 04:31-PM | by admin

The Mexican Petroleum Institute (IMP) and General Electric Oil & Gas (GE) signed a cooperation agreement in technology, which will be focused on the oil and gas sector. In the presence of the CEO of P...

ExxonMobil Foundation’s 2013 Educational Matching Gift Program
Posted On Apr 10 ,2014 - 04:33-PM | by admin

ExxonMobil and Employees Donate: $1.3 Million to Oklahoma Colleges and Universities $729,900 to Kansas Colleges and Universities $1.1 Million to New Jersey Colleges and Universities $3.0 Millio...

U.S Crude oil reserves at start of 2013 reach highest level since 1976
Posted On Apr 10 ,2014 - 04:39-PM | by admin

U.S. crude oil proved reserves rose for the fourth consecutive year in 2012, increasing by 15% to 33 billion barrels, according to the U.S. Crude Oil and Natural Gas Proved Reserves (2012) report rele...

Chevron Issues Interim Update for First Quarter 2014
Posted On Apr 10 ,2014 - 04:24-AM | by admin

Chevron Corporation (NYSE:CVX) today reported in its interim update that earnings for the first quarter 2014 are expected to be lower than fourth quarter 2013, principally as a result of adverse forei...

Technips announce General Shareholders’ Meeting
Posted On Apr 09 ,2014 - 04:54-PM | by admin

Technips’ Shareholders are invited to participate to Technip’s Shareholders’ Meeting which will be held on Thursday, April 24, 2014, at 3:00 p.m. at Auditorium Paris Centre Marceau, 12 avenue Ma...

Announcement of Intention to Float
Posted On Apr 09 ,2014 - 04:38-AM | by admin

SEPLAT, an indigenous independent oil and gas company incorporated and operating in Nigeria with a strategic focus on Nigeria, announces its intention to proceed with an initial public offer of its Or...

Completion of $650 million senior notes offering by Tullow Oil
Posted On Apr 08 ,2014 - 04:31-PM | by admin

Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that it has completed its offering of $650 million aggregate principal amount of 6.250% senior notes due 2022 (the “Notes”...

Bayelsa State,Nigeria, records about 40 spill cases in a month
Posted On Apr 08 ,2014 - 04:12-PM | by admin

The National Oil Spill Detection and Response Agency, NOSDRA, has revealed that Bayelsa State, records about 40 spill cases in a month. The Director General, Dr. Peter Idabor, who disclosed this al...

Nigeria FG Appoints New Company Secretary For NNPC
Posted On Apr 08 ,2014 - 04:24-PM | by admin

President Jonathan yesterday approved the appointment of Mr. Ikechukwu Oguine as the Coordinator, Legal Services and Company Secretary of the Nigerian National Petroleum Corporation (NNPC). Mr. Ogu...

Tullow refinances its corporate revolving credit facility
Posted On Apr 07 ,2014 - 04:54-AM | by admin

Tullow Oil plc (Tullow) is pleased to announce that it has refinanced its US$500 million corporate revolving credit facility and that it has successfully increased the size of the facility to US$750 m...

Siemens to supply control tools and electrical systems for South Stream’s offshore
Posted On Apr 07 ,2014 - 04:25-AM | by admin

South Stream Transport and Siemens entered into a contract to supply electrical systems and Control & Instrumentation for the offshore section of the South Stream gas pipeline. The document stipulates...

Technip to release First Quarter 2014 results on April 24, 2014
Posted On Apr 04 ,2014 - 04:42-AM | by admin

Technip will publish its First Quarter 2014 results on Thursday, April 24, 2014 at 7:00 a.m. CET. Thierry Pilenko, Chairman and CEO, as well as Julian Waldron, CFO, will comment on Technip’s res...

Naftogaz of Ukraine should take urgent action to settle accumulated debt
Posted On Apr 04 ,2014 - 04:37-AM | by admin

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Andrey Kobolev, CEO of Naftogaz of Ukraine. The focus of the meeting fell...

Tullow announce pricing of $650 million senior notes
Posted On Apr 03 ,2014 - 04:56-PM | by admin

Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that it has priced its offering of $650 million aggregate principal amount of 6.250% senior notes due 2022 at par (the “Note...

Eni clarification on CEO's remuneration
Posted On Apr 03 ,2014 - 04:11-PM | by admin

Eni clarifies that the total remuneration paid to Chief Executive Officer Paolo Scaroni in 2013 amounted to €4.555 million, 29% lower than his remuneration in 2012 (€ 6.397 million). The amount...

Victoria Oil & Gas at UK Investor Show
Posted On Apr 03 ,2014 - 04:05-AM | by admin

Victoria Oil & Gas, the emerging African energy utility company, announces that it will be hosting a stand at the UK Investor Show, which takes place at the Queen Elizabeth II Conference Centre in Wes...

Special courts to try pipeline vandals in Nigeria
Posted On Apr 02 ,2014 - 04:48-AM | by admin

The Senior Special Assistant to the President on Public Affairs, Dr. Doyin Okupe, yesterday disclosed the decision of the federal government to set up a special court to try pipeline vandals in the co...

Tullow Oil plc
Posted On Apr 02 ,2014 - 04:33-AM | by admin

Tullow Oil plc (the “Company”) today announces that it intends to offer $500 million in aggregate principal amount of senior notes due 2022 (the “Notes”). The Notes, whose net proceeds will be...

Italian court sentences Eni CEO to prison term
Posted On Apr 02 ,2014 - 04:47-AM | by admin

An Italian court has sentenced the chief executive officer of an oil major, Eni, Paolo Scaroni, to three years in prison. The ruling, which came amidst a separate judicial inquiry into corruption ...

BP Appoints New Head of Russian Business
Posted On Apr 01 ,2014 - 04:57-PM | by admin

BP announced the appointment of David Campbell as President of BP Russia, reporting directly to Bob Dudley, BP Group Chief Executive. Campbell, who is currently Head of the Group Chief Executive’...

Nigeria - DPR 'delays' planned acquisition by Oando Plc
Posted On Apr 01 ,2014 - 04:48-AM | by admin

The Department of Petroleum Resources (DPR) Monday faulted the alleged claims by indigenous oil and gas firm, Oando Plc, that its planned acquisition of the business interests of the United States fir...

Mobil Producing Nigeria Unlimited to build a 575megawatt power station in Eket – Akwa Ibom state of Nigeria
Posted On Mar 29 ,2014 - 03:33-PM | by admin

Nigerian Electricity Regulatory Commission, NERC, has granted operational licence to international oil company, Mobil Producing Nigeria Unlimited, MPN, to build and operate a 575 megawatts power plant...

Nord Stream and South Stream strengthening ties between Russia and Europe
Posted On Mar 28 ,2014 - 03:41-AM | by admin

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Jean-Maurice Ripert, Ambassador Extraordinary and Plenipotentiary of F...

Gazprom and Kuwait addressing cooperation options, including LNG supplies
Posted On Mar 27 ,2014 - 03:19-AM | by admin

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Abdulaziz Al-Adwani, Ambassador Extraordinary and Plenipotentiary of the Sta...

No Chartered Jet for Exclusive Use of Petroleum Minister – NNPC
Posted On Mar 26 ,2014 - 03:56-PM | by admin

The Management of the Nigerian National Petroleum Corporation, NNPC has reacted to media reports on the purported charter of aircraft by the Corporation for the personal use of the Minister of Petrole...

Eni's CEO meets with new Libyan Prime Minister
Posted On Mar 24 ,2014 - 03:39-PM | by admin

Paolo Scaroni, Eni’s CEO, has met the new Libyan Prime Minister, Abdullah al Thani in Tripoli. The key issue discussed in the meeting was the importance of maintaining and increasing Eni’s cu...

Subsea 7 S.A. awarded contract offshore Brazil
Posted On Mar 24 ,2014 - 03:16-PM | by admin

Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of a lump sum contract valued at approximately $110 million by Shell for the installation of jumpers, umbilicals and associated subsea structures f...

Nigeria, Namibia to Build Joint Oil Refinery
Posted On Mar 24 ,2014 - 03:22-AM | by admin

The Nigerian federal government and the Republic of Namibia have proposed to construct a joint oil refinery to maximise cooperation in the area of energy. The decision was reached during the two-day o...

Nigeria ermarks $1bn to fight pipeline vandalization and Oil theft
Posted On Mar 24 ,2014 - 03:38-AM | by admin

President Goodluck Jonathan has announced that the federal government has set aside $1 billion for the implementation of a comprehensive programme to curb crude oil theft, vandalism of oil and gas inf...

Eni's Enjoy car sharing scheme, record numbers for the third month with 55 thousand members and over 200 thousand rentals
Posted On Mar 20 ,2014 - 03:16-PM | by admin

55 thousand registered customers and over 200 thousand rentals in just three months; these record numbers, together with hundreds of new subscriptions every day, demonstrate the success of the Enjoy c...

NNPC gets new Group Executive Directors (GEDs)
Posted On Mar 20 ,2014 - 03:37-PM | by admin

President Goodluck Jonathan has appointed new Group Executive Directors (GEDs) for the Nigerian National Petroleum Corporation (NNPC) to fill critical vacancies according to news reports.

NNPC, IOCs warn of rising cost of oil and gas projects in Nigeria
Posted On Mar 20 ,2014 - 03:57-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) and the International Oil Companies (IOCs) have decried the high cost of projects in Nigeria’s oil and gas sector, saying the development will “k...

Pinnacle Oil to Construct $250 Million Mooring Facility at Lekki Free Zone
Posted On Mar 19 ,2014 - 03:44-PM | by admin

Pinnacle Oil has announced its plans to construct a $250 million mooring facility at Lekki Free Zone, giving the Free Zone a real boost. The Single Point Mooring (SPM) and Conventional Buoy Mooring (C...

Noble Energy Announces Its First Quarter 2014 Earnings Webcast and Conference Call
Posted On Mar 17 ,2014 - 03:13-PM | by admin

Noble Energy, Inc. (NYSE: NBL) will host its first quarter 2014 earnings webcast and conference call at 9:00 a.m., Central Time, Thursday, April 24, 2014. The Company plans to issue its financial and...

$1b petrochemical plant in Duqm planned
Posted On Mar 17 ,2014 - 03:11-PM | by admin

BP is negotiating with the Oman government to build a large petrochemical plant in Duqm, with an envisaged investment of over $1 billion, to manufacture acetic acid using a patented technology. BP ...

Shootout between anti pipeline vandalism unit and pipeline vandals in Nigeria
Posted On Mar 17 ,2014 - 03:24-PM | by admin

A suspected pipeline vandal was arrested, while others reportedly escaped, abandoning five of their operational speed boats with 4,000 empty 50-litre jerry cans. The vandals, said to be numbering ove...

Farm-in agreement on significant US oil and gas project
Posted On Mar 17 ,2014 - 03:22-PM | by admin

Rose Petroleum (AIM: ROSE) is pleased to announce that it has signed a farm-in agreement under which its newly formed subsidiary, Rose Petroleum (Utah) LLC (“Rose Utah”), can acquire 75% of certai...

Oil-rich rock deposits found in Kent, Surrey, Sussex and Hampshire
Posted On Mar 17 ,2014 - 03:20-AM | by admin

Large oil deposits have been discovered under southern England which could equal a third of the North Sea reserves but would need fracking to extract it. Oil-bearing shale rocks in the Weald area sp...

Wintershall plans the sale of its VNG shares to EWE
Posted On Mar 15 ,2014 - 03:22-PM | by admin

Wintershall, Germany’s largest internationally active crude oil and natural gas producer, is planning to divest its shareholding in the Eastern German company Verbundnetz Gas AG (VNG) as part of it...

Nigeria FG Stops Total’s Ofon II project as Contractor staffs Project with 185 expatriates
Posted On Mar 14 ,2014 - 03:34-AM | by admin

The federal government, through the Nigerian Content Development and Monitoring Board (NCDMB) has wielded the big stick against Total Exploration and Production Nigeria, by stopping the company’s Of...

OPEC daily basket price stood at $103.75 a barrel Wednesday, 12 March 2014
Posted On Mar 13 ,2014 - 03:57-PM | by admin

The price of OPEC basket of twelve crudes stood at 103.75 dollars a barrel on Wednesday, compared with $104.38 the previous day, according to OPEC Secretariat calculations. Oil prices rose today as OP...

Fracking suspended in Ohio county,USA after five earthquakes
Posted On Mar 13 ,2014 - 03:50-PM | by admin

Ohio officials said Tuesday that an oil and gas well near the site of two small earthquakes was undergoing hydraulic fracturing, or fracking, when the quakes occurred. The state Department of Natur...

Shale Gas Verification Service Launched by DNV GL
Posted On Mar 13 ,2014 - 03:43-PM | by admin

DNV GL, an independent foundation with the purpose of safeguarding life, property and the environment, announced today the launch of a comprehensive, tailor-made independent verification service based...

Eni reports on the purchase of treasury shares
Posted On Mar 13 ,2014 - 03:17-AM | by admin

Following the purchases announced today, considering the treasury shares already held, on 7 March 2014 Eni holds n. 18,950,466 shares equal to 0.52% of the share capital. During the period from Mar...

Sinopec Signed Strategic Cooperation Agreement with Chongqing Municipality
Posted On Mar 12 ,2014 - 03:48-PM | by admin

Mr. Sun Zhengcai, member of the Political Bureau of the 18th CPC Central Committee and Secretary of the CPC Chongqing Municipal Committee and Mr. Huang Qifan, Vice Secretary of the CPC Chongqing Munic...

Libya PM Ali Zeidan dismissed
Posted On Mar 12 ,2014 - 03:01-PM | by admin

As oil tanker, Morning Glory 'breaks blockade' The tanker was earlier reported to have taken on at least 234,000 barrels of crude at Sidra's oil terminal. MPs called a vote of confidence in Mr Zeidan...

CRUISERS in Salida, CA, Now Selling E85 (Ethanol Blended) Gasoline
Posted On Mar 12 ,2014 - 03:48-PM | by admin

1 of the Only 3 Stations in Stanislaus County from Boyett Petroleum Selling E85 Salida, California, March 7, 2013, Boyett Petroleum's Cruisers branded gas station formally announces the addition o...

John Crane Awarded Patent for Gas Seal Monitoring Technology
Posted On Mar 11 ,2014 - 03:07-PM | by admin

Reflects continued investment in new technology and potential to transform $8 billion gas seal industry The U.S. and European patent offices have awarded John Crane a patent for a breakthrough tech...

Libya warns against buying stolen crude
Posted On Mar 11 ,2014 - 03:12-AM | by admin

Libya's NOC issued a press release regarding the stolen property and illicit transaction. Libya's National Oil Corporation wishes to make clear that the crude oil loaded upon the vessel "Morning Gl...

4th Annual Global Pipeline Integrity Summit
Posted On Mar 10 ,2014 - 03:16-PM | by admin

Ensuring timely measures for fortifying existing pipelines Jassim Alhor, Lead Specialist Engineer (EES) - Technical Services at Qatar Petroleum will present at the 4th Annual Global Pipeline Integr...

Keystone XL pipeline
Posted On Mar 07 ,2014 - 03:23-PM | by admin

The Keystone Pipeline System is an oil pipeline system in Canada and the United States. It runs from the Western Canadian Sedimentary Basin in Alberta, Canada, to refineries in the United States in St...

Statement by IMF European Department Director Reza Moghadam on his Visit to Ukraine
Posted On Mar 07 ,2014 - 03:34-PM | by admin

“During my visit to Kyiv on March 6-7, I had productive discussions with the Prime Minister and his economic team. I am positively impressed with the authorities’ determination, sense of responsib...

Ukraine and Russia crisis
Posted On Mar 07 ,2014 - 03:10-PM | by admin

The rising threat of war between Ukraine and Russia spooked markets and sent investors scurrying for relative safety on Monday, pushing stocks down sharply and lifting gold to a four-month high. Ru...

Eni's CEO Paolo Scaroni meets with Libyan Prime Minister Ali Zidan
Posted On Mar 07 ,2014 - 03:47-PM | by admin

Libyan Prime Minister, Ali Zidan, and Eni’s CEO, Paolo Scaroni, met today in Rome to discuss Eni's activities in Libya and the energy sector in the Country. During the meeting, Prime Minister Ali...

NNPC Supplies Over 200 Million Litres of Fuel to Lagos, other Cities
Posted On Mar 07 ,2014 - 03:44-AM | by admin

he Nigerian National Petroleum Corporation, NNPC, has revealed that over 209 million litres of premium motor spirit otherwise called petrol has been discharged in Lagos ports in the last 24 hours. ...

Neste Oil's Annual Report and Corporate Governance Statement for 2013 published
Posted On Mar 06 ,2014 - 03:24-AM | by admin

Neste Oil's Annual Report 2013 has been published and can be read online in Finnish at 2013.nesteoil.fi and in English at 2013.nesteoil.com. The online Annual Report 2013 includes the Financial St...

Ghana loses US$70 million in oil and gas sector
Posted On Mar 05 ,2014 - 03:20-AM | by admin

Ghana lost about $70 million over the past two years in the oil and gas sector due to her inability to apply the Capital Gains Tax provided in the Internal Revenue Act, 2000 (Act 592).

BP's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill rejected
Posted On Mar 05 ,2014 - 03:34-AM | by admin

United States appeals court has rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disast...

Glencore shows interest in buying Shell oil assets
Posted On Mar 05 ,2014 - 03:03-AM | by admin

Commodity trader and miner Glencore confirmed on Tuesday its interest in buying oil assets that oil major Shell is selling in Nigeria. A source said last month that Glencore and commodity trading hous...

NNPC Moves to Clear Fuel Queues in Lagos, Others
Posted On Mar 04 ,2014 - 03:36-PM | by admin

As PPMC, DPR, PPPRA Commence Aggressive Monitoring of fuel stations to halt hoarding Says No Plan to Increase fuel price The Management of the Nigerian National Petroleum Corporation, NNPC over th...

China, Africa's biggest trading partner
Posted On Mar 04 ,2014 - 03:27-PM | by admin

Chinese President Xi Jinping, hosting Senegalese visiting President Macky Sall in Beijing was reported as stating that, "In 2013, Chinese-African trade surpassed $200 billion for the first time, makin...

Ghana struggling to translate oil money into development gains
Posted On Mar 04 ,2014 - 03:33-PM | by admin

Seven years ago, oil in commercial quantities was discovered off Ghana's southern coast, more than 93 miles west of Sekondi-Takoradi. Attracted by the city's existing harbour and airport, oil companie...

Belzona takes Bronze at the 15th Middle East Corrosion Conference
Posted On Mar 03 ,2014 - 03:58-PM | by admin

From February 2-5, Belzona Polymerics and local distributor Hatcon Bahrain showcased their novel technologies at the 15th Middle East Corrosion Conference, organised by NACE Dhahran Saudi Arabia Secti...

Chevron Corporation's 2014 Security Analyst Meeting
Posted On Mar 03 ,2014 - 03:50-PM | by admin

Chevron Corporation (NYSE:CVX), will hold its security analyst meeting on Tuesday, March 11, 2014 in New York City from 9:00 a.m. to 12:00 p.m. ET (6:00 a.m. – 9:00 a.m. PT). ...

Nigerian Navy partners with its Italian counterpart in training to ensure maritime security.
Posted On Mar 03 ,2014 - 03:06-PM | by admin

The Italian Navy has arrived Nigeria with its flagship warship under the 30 Italian Naval Group, comprising Cavour Aircraft Carrier, Etna Supply Ship, Bergamini Frigate and Borsini patrol ship, with a...

RWE Dea Norge commences drilling at Titan (PL420)
Posted On Mar 03 ,2014 - 03:57-PM | by admin

RWE Dea Norge commenced drilling a well at production license (PL) 420, to appraise the Titan discovery. Recoverable volumes are estimated at approximately 12 million standard cubic metres oil equival...

Iran's Rising Oil Sales Worry the U.S.
Posted On Feb 28 ,2014 - 02:34-PM | by admin

Official figures indicate that China has boosted purchases of unrefined petroleum from Iran by almost 30 percent since November, when the Middle Eastern nation agreed to temporarily restrict some of i...

IMF sees lower GDP growth for Ghana in 2014
Posted On Feb 28 ,2014 - 02:55-PM | by admin

Economic growth in Ghana is expected to slip further to 4.8 percent at the end of 2014, the International Monetary Fund (IMF)'s Country Director Samir Jahja said here on Thursday. In 2014, non-oil ...

China scraps tariffs on oil exploration facilities
Posted On Feb 28 ,2014 - 02:50-PM | by admin

The Chinese government announced on Friday to include a range of oil and gas exploitation equipment to the duty-free list, to improve the country's competitiveness in the emerging sector. The newly...

CNPC and CNAF ink framework agreement for aviation fuel supply in 2014
Posted On Feb 28 ,2014 - 02:30-PM | by admin

On February 24 in Beijing, CNPC and China National Aviation Fuel (CNAF) signed a framework agreement for aviation fuel supply in 2014, indicating a further step taken by both sides in years of coopera...

Oil worker dies after falling overboard from Taqa platform Harding
Posted On Feb 28 ,2014 - 02:31-PM | by admin

LATEST UPDATE ON UK NORTH SEA HARDING PLATFORM INCIDENT TAQA can confirm that a team from the company, along with investigators from Police Scotland and the Health and Safety Executive, has arrived o...

Shell shuts Nigerian oil pipeline
Posted On Feb 27 ,2014 - 02:22-PM | by admin

Shell has shut down the Nembe Creek Trunk oil pipeline to stop a leak caused by oil theft and sabotage, a spokesman said on Thursday, without disclosing the volume of output loss. "We closed the Nembe...

Merger of companies into Petrobras
Posted On Feb 27 ,2014 - 02:44-AM | by admin

Petrobras, in compliance with the provision set forth in CVM Instruction 358/02, announces that its Board of Directors has approved the merger proposals of Termoaçu S.A., Termoceará Ltda. and Compan...

Eni Awards $1.1B contract to Chiyoda-Saipem-Tripatra-HHI JV
Posted On Feb 26 ,2014 - 02:28-PM | by admin

Eni Muara Bakau (Eni: 55 percent, GDF Suez: 45 percent, Operator: Eni) has awarded Chiyoda's group company PT. Chiyoda International Indonesia, in collaboration with PT. Saipem Indonesia (Leader), PT ...

Nigeria Loses $8bn Through Crude Oil Swaps
Posted On Feb 26 ,2014 - 02:12-AM | by admin

Nigeria may be losing an estimated $8 billion annually through the crude oil-for-refined products exchange arrangement, better known as crude oil swaps, which the Nigerian National Petroleum Corporati...

Petrobras announces that its Board of Directors has approved the 2030 Strategic Plan (SP 2030)
Posted On Feb 26 ,2014 - 02:24-AM | by admin

Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors has approved the 2030 Strategic Plan (SP 2030) and the 2014 – 2018 Business and Management Plan (BMP 2014-2018). Pet...

Boko Haram Issues Threats on Refineries
Posted On Feb 25 ,2014 - 02:10-PM | by admin

Boko Haram, Nigeria’s main Islamist militant group, have issued threats of a new attack. The group’s leader, Abubakar Shekau, has threatened to attack the country’s refineries and schools in the...

NNPC funds NPDC
Posted On Feb 25 ,2014 - 02:07-PM | by admin

The attention of the Management of the Nigerian Petroleum Development Company Limited (NPDC) has been drawn to several publications alleging that NPDC denied receiving the sum of US$6 billion from its...

Israel's gas royalties rose significantly in 2013
Posted On Feb 24 ,2014 - 02:53-PM | by admin

Israel's royalties from natural gas rose to a record 543 million shekels (about 155 million U.S. dollars) in 2013, the Israeli Ministry of National Infrastructures announced Sunday. The start of ga...

Addressing the skills gap in Nigeria’s Oil & Gas Industry
Posted On Feb 24 ,2014 - 02:21-PM | by admin

CWC School for Energy has combined forces with Levmora Services Limited, a Nigerian energy consultancy and business solutions provider, to drive a Nigerian talent powered oil & gas industry. The jo...

UK Government to boost North Sea oil production
Posted On Feb 24 ,2014 - 02:11-AM | by admin

The UK government has said this morning that it will fast-track implementing recommendations of an independent report by Sir Ian Wood The oil and gas industry, whose major North Sea operators inclu...

Gazprom and Shell sign roadmap for third train of Sakhalin II project
Posted On Feb 24 ,2014 - 02:44-AM | by admin

Sochi hosted the signing of a memorandum-roadmap between Alexey Miller, Chairman of the Gazprom Management Committee and Ben van Beurden, Chief Executive Officer of Shell. The document envisages th...

Exploration of crude oil and gas in the Chad Basin
Posted On Feb 22 ,2014 - 02:47-PM | by admin

Nigerian Federal Government has restated its unwavering commitment to the exploration of crude oil and gas in the Chad Basin inspite of all drawbacks.

Saipem a Top Employer in France for 2014
Posted On Feb 22 ,2014 - 02:36-PM | by admin

For the sixth consecutive year, Saipem, through Saipem SA, has been recognised as a Top Employer in France. The certificate, awarded by the Top Employers Institute, acknowledges the excellence of S...

Anadarko to Host Investor Conference
Posted On Feb 22 ,2014 - 02:27-PM | by admin

Anadarko Petroleum Corporation (NYSE: APC) Tuesday, March 4, 2014 8:30 a.m. EST Dial-in number: 855.812.0464 International dial-in number: 970.300.2271 Confirmation number: 3508229 Anadarko...

KPMG chief warns on shale threats, poor investment in oil
Posted On Feb 20 ,2014 - 02:03-PM | by admin

KPMG has warned the Federal Government of Nigeria of the dangers of not investing in the upstream oil sector and the threat of shale oil to the country’s revenue drive. KPMG’s Global Chairman, Ene...

Facebook buys WhatsApp
Posted On Feb 20 ,2014 - 02:14-PM | by admin

Facebook will pay a whopping $19bn for the app ($4bn cash, $12bn Facebook shares, $3bn stock at a later date), which allows users to send messages over wifi and data connections, thereby bypassing tex...

Nigeria names new Central Bank Governor, Suspends Sanusi
Posted On Feb 20 ,2014 - 02:22-PM | by admin

President Goodluck Jonathan Thursday named the Managing Director of Zenith Bank of Nigeria, Mr. Godwin Emefiele, as the next Governor of Central Bank of Nigeria. In a letter addressed to Senate Pre...

Technip releases Fourth Quarter & Full Year 2013 results
Posted On Feb 20 ,2014 - 02:47-AM | by admin

Reports order intake of €12 billion Revenue of €9.3billion, Up 14% Net income of €563m, Up 4%

Myron Scholes Appointed to CME Group's Competitive Markets Advisory Council
Posted On Feb 19 ,2014 - 02:02-PM | by admin

CME Group, the world's leading and most diverse derivatives marketplace, today announced that Myron S. Scholes, Nobel Laureate in Economic Sciences and the 'Frank E. Buck' Professor of Finance, Emerit...

Eni announce report on the purchase of treasury shares
Posted On Feb 19 ,2014 - 02:12-PM | by admin

Following the purchases announced today, considering the treasury shares already held, on 14 February 2014 Eni holds n. 16,538,287 shares equal to 0.46% of the share capital. During the period from...

Trading in American Depositary Receipts (ADRs) representing Gazprom's shares started today at the Moscow Exchange
Posted On Feb 18 ,2014 - 02:31-PM | by admin

Listing of Gazprom's ADRs at a Russian stock exchange assures higher demand for these securities and, consequently, the Company's shares. It is another milestone of Gazprom's consistent efforts aimed ...

Shareholders approve Nigeria's Oando capital raising plans
Posted On Feb 18 ,2014 - 02:04-PM | by admin

Oando said on Tuesday it's shareholders had approved plans to raise 250 billion naira ($1.54 billion) through a combination of rights issues, bonds and global depository receipts. Of that, 50 billi...

CAMAC Energy to Present at Upcoming Energy Conference
Posted On Feb 18 ,2014 - 02:59-PM | by admin

CAMAC Energy Inc. (NYSE MKT: CAK) announced today that Earl W. McNiel, Senior Vice President and Chief Financial Officer, will present at EnerCom's The Oil & Services Conference on Wednesday, February...

Nigeria's NNPC remittance saga continues
Posted On Feb 18 ,2014 - 02:11-PM | by admin

Remittance of oil proceeds to the Federation Account by the Nigerian National Petroleum Corporation, (NNPC), has been enmeshed in controversy. Central Bank Governor, Mallam Sanusi Lamido Sanusi, raise...

Mart Resources announce Umugini Pipeline Update
Posted On Feb 14 ,2014 - 02:52-PM | by admin

Clearing of the right of way for the last five kilometres of the first section of the Umugini pipeline has been completed and pipeline construction is ongoing. Clearing of the right of way for the s...

Maersk Drilling awarded long term contract for jack-up rig Maersk Completer
Posted On Feb 14 ,2014 - 02:39-PM | by admin

Brunei Shell Petroleum has awarded Maersk Drilling a four year contract for the jack-up rig Maersk Completer for operation offshore Brunei. The contract commences in November 2014 in direct continuati...

Sanusi insists N3tr (Naira) Oil money missing
Posted On Feb 14 ,2014 - 02:49-PM | by admin

Nigeria Central Bank Governor Sanusi Lamido Sanusi yesterday said he stood by his claims that the Nigerian National Petroleum Corporation (NNPC) was yet to account for $20 billion oil sales money. He...

Aasta Hansteen creating 200 jobs in the north
Posted On Feb 14 ,2014 - 02:52-PM | by admin

The Aasta Hansteen and Polarled development projects will have significant spinoff effects in the north. So far the projects are set to ensure jobs for 200 people on the Helgeland coast. “Aasta H...

Oman Oil Company announces the opening of representative office in Tanzania
Posted On Feb 13 ,2014 - 02:49-PM | by admin

As part of its broad investment programme to increase presence in key growth markets, Oman Oil Company (OOC) has announced the opening of its first representative overseas office in Dar es Salaam, Tan...

Nigerian energy assets sale by three oil majors continues
Posted On Feb 13 ,2014 - 02:28-PM | by admin

Commodity trading houses Glencore and Mercuria are among the shortlisted consortiums expected to make final bids on Nigerian energy assets worth around $3 billion that three oil majors are selling, so...

CNPC discovers largest monomer marine uncompartmentalized gas reservoir in China
Posted On Feb 13 ,2014 - 02:30-PM | by admin

A major breakthrough was made by CNPC in natural gas exploration in the Sichuan Basin. As certified by the Ministry of Land and Resources, the newly added proven gas in place in the Longwangmiao forma...

Concept selection for the Johan Sverdrup field
Posted On Feb 13 ,2014 - 02:37-AM | by admin

Statoil and the partners in the Johan Sverdrup field have decided on a concept for the first development phase. The partners have agreed on a field centre consisting of four installations and power fr...

Chevron's Havoline® Brand Selected as Preferred Motor Oil for Gas Monkey Garage
Posted On Feb 12 ,2014 - 02:21-PM | by admin

Richard Rawlings to serve as spokesperson for the Havoline brand Chevron Products Company, a Chevron U.S.A. Inc. division, maker of the Havoline® brand of advanced engine oils, today announced the...

Anadarko Declares Dividend
Posted On Feb 12 ,2014 - 02:06-PM | by admin

The Board of Directors of Anadarko Petroleum Corporation (NYSE: APC) today declared a quarterly cash dividend on the company's common stock of 18 cents per share, payable March 26, 2014, to stockholde...

OPEC basket, 3rd Feb 2014
Posted On Feb 04 ,2014 - 02:44-PM | by admin

The price of OPEC basket of twelve crudes stood at 102.55 dollars a barrel on Monday, compared with $104.45 the previous Friday, according to OPEC Secretariat calculations

BP announce Fourth Quarter and Full Year 2013 Results
Posted On Feb 04 ,2014 - 02:32-PM | by admin

BP’s fourth-quarter replacement cost (RC) profit was $1,507 million, compared with $2,009 million for the same period in 2012.

Premier announces CEO to step down
Posted On Feb 04 ,2014 - 02:28-PM | by admin

Premier announces that Simon Lockett, Chief Executive Officer, has notified the Board of his intention to step down. Simon has agreed to remain Chief Executive Officer until a successor has been i...

Range Resources successfully Bid for St. Mary’s Block in Trinidad
Posted On Feb 04 ,2014 - 02:45-PM | by admin

The Board of Range announced that the Company has been successful with its bid for the St.Mary’s block in Trinidad following the submission in the Trinidad Onshore Bid Round 2013. The successful bid...

Wind Energy Summit South Africa will be held in Cape Town, April 9-10
Posted On Feb 04 ,2014 - 02:53-PM | by admin

With almost 2,000MW of onshore wind South Africa is under the global spotlight as the industry’s most exciting market. In the most recent round of the Renewable Energy Independent Power Produce...

African Petroleum release quarterly report - 31 January 2014
Posted On Feb 04 ,2014 - 02:27-AM | by admin

CORPORATE HIGHLIGHTS  Approximately US$7.93 million cash at bank at 31 December 2013  In addition, approximately US$12 million restricted cash at 31 December 2013 being security deposits tha...

Onne Oil and Gas Free Zone
Posted On Jan 31 ,2014 - 01:15-PM | by admin

The Onne Oil and Gas Free Zone has been a crucial development in Nigeria. It is the only Free Zone in the world to focus exclusively on the oil and gas industry. http://youtu.be/WRULjO4VSUw...

Gas supply to Asogli, VRA plants from Nigeria Improves
Posted On Jan 31 ,2014 - 01:59-PM | by admin

Ghana’s natural gas supply from Nigeria has increased from 30 million cubic feet to 100 million cubic feet, a senior official of the Ministry of Energy and Petroleum has said. Mr Edward Bawah, th...

Transcorp, GE Partner to Improve Power Generation in Nigeria
Posted On Jan 31 ,2014 - 01:23-PM | by admin

Transnational Corporation of Nigeria Plc (Transcorp) has notified The Nigerian Stock Exchange that Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corporation of Nigeria Plc ...

Aker Solutions Completes Sale of Mooring and Loading Systems Business to Cargotec
Posted On Jan 30 ,2014 - 01:51-PM | by admin

Aker Solutions has completed the sale of its mooring and loading systems business to Cargotec for an enterprise value of NOK 1.4 billion. The unit, known for the Pusnes brand name, provides mooring...

Nigeria Mobilises $700m for Trans-Sahara Gas Project
Posted On Jan 30 ,2014 - 01:59-PM | by admin

President Goodluck Jonathan Wednesrday announced that Nigeria had mobilised $700 million to support the completion of Nigeria-Algeria gas pipeline project. Jonathan made this known in Addis Ababa i...

OAO LUKOIL and Pemex sign cooperation agreement
Posted On Jan 30 ,2014 - 01:41-AM | by admin

Vagit Alekperov, OAO LUKOIL President, and Emilio Lozoya, General Director of Mexico’s Pemex, signed a cooperation agreement as part of the World Economic Forum in Davos (Switzerland). The docume...

Chevron Announces Quarterly Dividend
Posted On Jan 30 ,2014 - 01:38-AM | by admin

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar ($1.00) per share, payable March 10, 2014 to holders of common stock as shown on the transfe...

Royal Dutch Shell plc Directorate change
Posted On Jan 30 ,2014 - 01:27-AM | by admin

Royal Dutch Shell plc (the "Company") announces its intention to propose to the 2014 Annual General Meeting that Euleen Goh and Patricia A. Woertz be elected Non-executive Directors of the Company wit...

Eni issues report on the purchase of treasury shares
Posted On Jan 30 ,2014 - 01:21-AM | by admin

During the period from January 20 to January 24, 2014, Eni acquired n. 955,000 shares for a total consideration of € 16,585,211.11, within the authorization to purchase treasury shares approved at E...

Oando announces agreement for US$50 million private placement
Posted On Jan 29 ,2014 - 01:33-PM | by admin

Oando Energy Resources Inc.today announced that it intends to complete an arms length non-brokered private placement (the "Offering") for proceeds of US$50,000,000 . In addition, in connection with t...

Sri Lanka to continue oil cooperation with Iran
Posted On Jan 29 ,2014 - 01:36-PM | by admin

Sri Lankan Minister of Industry and Commerce Rishad Bathiyutheen says his country will proceed with oil cooperation with Iran. Speaking to IRNA on Monday, Bathiyutheen added that his country failed t...

Noble Energy Declares Quarterly Dividend
Posted On Jan 28 ,2014 - 01:25-PM | by admin

Noble Energy, Inc.'s (NYSE: NBL) Board of Directors today declared a quarterly cash dividend of 14 cents per common share payable on February 24, 2014 to the shareholders of record on February 10, 201...

CGG and Spectrum Commence the Foz do Amazonas Multi-Client Survey Offshore Brazil
Posted On Jan 28 ,2014 - 01:57-AM | by admin

CGG and Spectrum announced today that the acquisition of the high-end BroadSeisTM 3D multi-client survey program offshore Brazil in the Foz do Amazonas Basin has commenced early January as planned. A...

Court rules Chevron cannot sell assets pending dispute in Nigeria
Posted On Jan 27 ,2014 - 01:18-PM | by admin

Chevron banned from selling its onshore assets until a legal dispute with local firm Brittania-U is resolved ...

Nigeria Waters
Posted On Jan 27 ,2014 - 01:04-PM | by admin

Pirates operating along the creeks and waterways of the Niger Delta struck again over the weekend when a tug boat belonging to the Nigerian Agip Company (NOAC) was attacked along the Nembe Waterways i...

Uganda set to sign pact with Tullow to allow for oil production
Posted On Jan 27 ,2014 - 01:56-AM | by admin

Uganda has completed negotiations with Britain's Tullow Oil and its partners and will soon sign an agreement that could pave the way for the start of crude production according to news reports. In ...

Britain launches new tender for offshore oil and gas licences
Posted On Jan 24 ,2014 - 01:25-PM | by admin

The government said on Friday it expected a high level of interest in the tender after it awarded a record 219 licenses in the previous round two months ago. “There continues to be extremely high l...

Iran to seek foreign investment in oil, gas industries at Davos
Posted On Jan 24 ,2014 - 01:36-PM | by admin

Iran will urge oil giants to invest in its oil and gas industries at the ongoing World Economic Forum in Davos, Switzerland, local media quoted the oil minister as saying on Thursday. Iranian Oil M...

New bank may be set up to finance GECF joint projects
Posted On Jan 24 ,2014 - 01:00-AM | by admin

It has emerged that the 13-nation Gas Exporting Countries Forum (GECF) may soon set up a new bank to finance its joint projects The decision was reached after a discussion by the group, which the n...

Iran examining ways for exporting natural gas to India
Posted On Jan 23 ,2014 - 01:49-PM | by admin

Iran is probing ways to export natural gas to India, Irans Ambassador to New Delhi Gholam Reza Ansari said. Speaking to reporters on the sidelines of a Friday conference, Ansari pointed to India’s ...

Eni wins award for best corporate website in the world
Posted On Jan 23 ,2014 - 01:08-PM | by admin

For the fourth time Eni has won gold once more in the Global 100 KWD Webranking survey which evaluates some of the world’s best companies, for digital corporate communications. Moreover, with 88....

BP Energy Outlook 2035 Shows Global Energy Demand Growth Slowing
Posted On Jan 23 ,2014 - 01:01-PM | by admin

Despite Increases Driven by Emerging Economies Outlook focuses on supply sufficiency, security and sustainability. Global energy demand continues to grow but that growth is slowing and mainly driven...

Gazprom and CNPC getting ready to sign contract for Russian gas supply
Posted On Jan 23 ,2014 - 01:15-AM | by admin

Beijing hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC). The meeting participan...

Nigeria's oil savings in the Excess Crude Account (ECA)
Posted On Jan 23 ,2014 - 01:55-AM | by admin

Nigerian central bank governor Lamido Sanusi says Nigeria's oil savings in the Excess Crude Account (ECA) had now fallen to just $2.5 billion, compared with $11.5 billion a year ago.

Addax signs 10-year Gabon petroleum deal
Posted On Jan 22 ,2014 - 01:46-PM | by admin

Addax Petroleum Corp, the biggest overseas subsidiary of Sinopec Group, has won a 10-year contract to extract oil at three fields in Gabon. At peak production, the company will account for about 20,00...

Nigeria's Dangote group consides buying oil fields
Posted On Jan 22 ,2014 - 01:03-PM | by admin

DANGOTE Group, is considering buying Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer. The company, which has interests from cement...

Chinese investment in Nigeria almost $13billion
Posted On Jan 22 ,2014 - 01:59-PM | by admin

Chinese investment in Nigeria totaled $15.6 billion (the highest in sub-Saharan Africa) in 2012, according to the Washington-based Heritage Foundation. Most Chinese investment was in the technology, t...

Ghana oil industry
Posted On Jan 22 ,2014 - 01:14-PM | by admin

Ghana expects at least $20 billion of investment in its booming oil industry over the next five years, mainly from foreign companies, the head of the state-owned Ghana National Petroleum Corporation (...

CNOOC Plan $200m Investment in Nigeria
Posted On Jan 20 ,2014 - 01:40-PM | by admin

The China National Offshore Oil Corporation Energy Group (CNOOC) and Gas Group plans to invest over $200 million in the Nigerian oil and gas industry. Already, the firms had invested $50million in...

NNPC has no right to retain oil revenue -Sanusi
Posted On Jan 20 ,2014 - 01:50-PM | by admin

The Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi Friday insisted that the Nigerian National Petroleum Corporation (NNPC) had no right retaining $10.8 billion oil revenue, saying...

Iran starts implementation of nuclear deal
Posted On Jan 20 ,2014 - 01:42-PM | by admin

Iran halted its most sensitive uranium enrichment work as part of a landmark deal struck with world powers, easing concerns over the country's nuclear program and clearing the way for a partial liftin...

Iran examining ways for exporting natural gas to India
Posted On Jan 20 ,2014 - 01:02-PM | by admin

Iran is probing ways to export natural gas to India, Irans Ambassador to New Delhi Gholam Reza Ansari said. Speaking to reporters on the sidelines of a Friday conference, Ansari pointed to India’...

Nigeria to implement metering system in the oil and gas industry
Posted On Jan 20 ,2014 - 01:38-PM | by admin

The Nigerian Federal Government has scheduled February 1, 2014 to commence full implementation of metering system in the oil and gas industry under its Weights and Measures Act. The Director of Wei...

Saudi unconcerned by the US shale oil boom
Posted On Jan 20 ,2014 - 01:24-PM | by admin

Saudi Arabia, an OPEC member, is unconcerned by the US shale oil boom, Oil Minister Ali al-Naimi said today as he met the US energy secretary in Riyadh. "We discussed the increased production of shale...

Oil price falls due to decline in China growth
Posted On Jan 20 ,2014 - 01:29-PM | by admin

The price of oil fell below $94 a barrel Monday after a report showed China's economic growth declined in the last quarter of 2013. By early afternoon in Europe, benchmark U.S. crude for February deli...

Cameron announces change in onesubsea top management
Posted On Jan 17 ,2014 - 01:38-PM | by admin

Cameron (NYSE: CAM) announced the retirement of John Carne as Chief Executive Officer of OneSubsea effective February 28, 2014. John has served as CEO of OneSubsea since the Cameron and Schlumberger j...

Leni oil and gas provides update on goudron field drilling
Posted On Jan 17 ,2014 - 01:11-PM | by admin

LGO today announces that the Environmental Management Agency of Trinidad and Tobago has confirmed that the Company's application for a Certificate of Environmental Compliance ("CEC") for the planned d...

Sunbird-1 Drilling Commences in Area L10A Offshore Kenya
Posted On Jan 17 ,2014 - 01:50-PM | by admin

Pancontinental Oil & Gas NL (ASX: PCL) is pleased to advise that the exploration well Sunbird-1 has commenced drilling in Licence area L10A offshore Kenya. The well is managed by the L10A Joint V...

Sale of Eni stake in Severenergia to Novatek and GazpromNeft was finalized
Posted On Jan 17 ,2014 - 01:48-AM | by admin

Eni announces that the sale of 60 percent stake held in Arctic Russia to Yamal Development, joint venture between Novatek and GazpromNeft, was completed. The sale price is 2.94 billion dollars. Art...

Anadarko Schedules Year-End 2013 Earnings Conference Call for Feb. 4
Posted On Jan 17 ,2014 - 01:37-AM | by admin

Anadarko Petroleum Corporation (NYSE: APC) will host a conference call on Tuesday, Feb. 4, 2014, at 8 a.m. CST (9 a.m. EST) to discuss its fourth-quarter and year-end 2013 financial and operating resu...

Pancontinental announce Tullow Oil has commenced a 3D seismic survey in Namibia
Posted On Jan 17 ,2014 - 01:56-AM | by admin

Pancontinental Oil & Gas has advised that Tullow Oil has commenced a 3D seismic survey in Licence area EL 0037 offshore Namibia. The 3D acquisition will be of approx. 3,000 sq km and a second acquisit...

Woodside announce fourth quarter report for period ended 31 December 2013
Posted On Jan 17 ,2014 - 01:24-AM | by admin

Highlights Record annual production of 87 million barrels of oil equivalent (MMboe), up 2.5% on 2012. Global exploration strategy takes shape with new entries to Ireland and New Zealand. Quarterly ...

Sudan offers ONGC Videsh two oil, gas blocks
Posted On Jan 17 ,2014 - 01:13-AM | by admin

Sudan reportedly offered ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp, two oil and gas blocks as India looks to strengthen energy ties with the African nation. Mo...

Petrotech 2014 the best ever says Petroleum Minister Veerappa Moily, after bilaterals with Oil Ministers of Ecuador, Uganda, Canada, Sudan, Turkmenistan and Azerbaijan
Posted On Jan 17 ,2014 - 01:59-AM | by admin

Petrotech 2014 has been an emphatic success and the best ever so far, said Dr. M VeerappaMoily, Hon’ble Union Minister for Petroleum & Natural Gas, while addressing the media on the penultimate even...

Time to buy Shell, says Barclays
Posted On Jan 15 ,2014 - 01:18-PM | by admin

It is the right time to invest in Royal Dutch Shell (LON:RDSB), according to the oil and gas team at Barclays Capital, which named the major as its top pick in the sector. Repeating its ‘outperfo...

NEOS GeoSolution to explore Lebanon's oil and gas resources
Posted On Jan 14 ,2014 - 01:19-PM | by admin

Lebanon's caretaker energy minister Gebran Bassil signed Friday a contract with the American company NEOS GeoSolutions, which enables it to survey Lebanon's oil and gas resources. In a statement by...

New CNOOC gas field starts production
Posted On Jan 14 ,2014 - 01:35-PM | by admin

China National Offshore Oil Corp. Limited (CNOOC Ltd.), the country's largest offshore oil producer, announced Tuesday that Liuhua 19-5 gas field has started production. The gas field is expected t...

Chinese, Nigerien ruling parties to boost bilateral ties
Posted On Jan 14 ,2014 - 01:03-PM | by admin

The Communist Party of China (CPC) and the Nigerien Party for Democracy and Socialism (PNDS) have affirmed the positive results of cooperation between Niamey and Beijing and decided to reinforce the c...

Meeting between the President of Mexico, Pena Nieto, and Eni CEO Paolo Scaroni
Posted On Jan 14 ,2014 - 01:27-AM | by admin

The President of Mexico, Enrique Peña Nieto, and Eni’s CEO, Paolo Scaroni met in Mexico City within the framework of the official visit of Italian Prime Minister Enrico Letta. In this occasion, ...

Fracking incentive in UK
Posted On Jan 13 ,2014 - 01:45-PM | by admin

In a speech today, the United Kingdon PM, David Cameron will promise local authorities will be allowed to keep all the business rates they collect from fracking projects, rather than the 50% they usua...

Hess Completes Sale of Pangkah Asset in Indonesia
Posted On Jan 10 ,2014 - 01:37-PM | by admin

Hess Corporation (NYSE:HES) today completed the previously announced sale of its Pangkah asset to a subsidiary of PT Saka Energi Indonesia, which exercised its pre-emption rights, for a total after ta...

Aker Solutions Completes Sale of Well-Intervention Services Business to EQT
Posted On Jan 09 ,2014 - 01:18-PM | by admin

Aker Solutions completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund. The unit was sold for an enterprise value of NOK 4 billion and the agreement...

Dana Petroleum awarded new exploration acreage in Egyptian Western Desert line
Posted On Jan 09 ,2014 - 01:30-AM | by admin

Dana Petroleum has signed concession agreements for the West Dakhla 1 and 2 areas in the Egyptian Western Desert. The blocks were awarded through the GANOPE Bid Round 2010. The forecasted activitie...

Oil Bunkering Operations in Nigerian Waters
Posted On Jan 09 ,2014 - 01:08-AM | by admin

The Nigerian federal government has approved the resuscitation of bunkering operations in Nigerian territorial waters, a few years after the operations were suspended. Bunkering is the downstream b...

Overview of Colombia, after partial privatization of state oil company Ecopetrol
Posted On Jan 08 ,2014 - 01:14-PM | by admin

Colombia has seen a dramatic increase in oil, natural gas, and coal production in recent years after the implementation of a series of regulatory reforms. The enactment of a series of regulatory re...

Overview of Nigeria,the largest oil producer in Africa
Posted On Jan 08 ,2014 - 01:12-PM | by admin

Nigeria is the largest oil producer in Africa, holds the largest natural gas reserves on the continent, and was the world's fourth leading exporter of liquefied natural gas (LNG) in 2012. Nigeria beca...

Nigeria Federal Government Reverses Decision to Sell Refineries
Posted On Jan 08 ,2014 - 01:08-PM | by admin

The government would now work with the unions in the oil sector to formulate workable business models and strategies for the refineries. The Turn Around Maintenance (TMA) which is already in proces...

Hess Schedules Earnings Release Conference Call
Posted On Jan 08 ,2014 - 01:45-PM | by admin

Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, January 29, 2014, at 10 a.m. Eastern Standard Time to discuss its fourth quarter 2013 earnings release. ...

Statoil Resuming production at Hammerfest LNG
Posted On Jan 08 ,2014 - 01:32-PM | by admin

Production from the Hammerfest LNG plant has been resumed after a gas leak Sunday night. "We started run-up of the Hammerfest LNG plant Tuesday night, and the plant has now reached stable operation...

Licence Blocks A1 and A4 The Gambia
Posted On Jan 08 ,2014 - 01:58-AM | by admin

African Petroleum Corporation Limited (NSX: AOQ) (African Petroleum or the Company) can confirm that its wholly owned subsidiary African Petroleum Gambia Limited (AP Gambia) has received today from Th...

Wintershall signs farm-in-agreement with Gas y Petróleo del Neuquén
Posted On Jan 08 ,2014 - 01:25-AM | by admin

Future exploration of the Aguada Federal block in the Neuquén Province in Argentina President of Gas y Petróleo del Neuquén S.A., Martin Bachmann, Member of the Board of Executive Directors of W...

Gambia strips firms of oil licences and warns against 'speculation'
Posted On Jan 07 ,2014 - 01:19-PM | by admin

Gambia has stripped three oil firms of their exploration and production licences, according to a statement by the president's office that accused them of failing to meet their contractual obligations....

NNPC says $10.8bn Not Missing, Part of Unpaid Operational Costs
Posted On Jan 07 ,2014 - 01:53-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) has said the disputed $10.8 billion, which has not been paid into the Federation Account, is not missing but formed part of its operational costs wit...

Aker Solutions Names David Currie as UK Regional President
Posted On Jan 07 ,2014 - 01:09-PM | by admin

Aker Solutions hires David Currie as head of its UK business to help lead the company's expansion in a key market. Currie comes from FMC Technologies, where he has since 1985 held various positions...

Attract more FDI to Nigeria, Yakubu charges Ambassadors-Designate
Posted On Jan 06 ,2014 - 01:35-PM | by admin

The Group Managing Director of the NNPC, Engr. Andrew Yakubu has called on Nigeria’s new Ambassadors-designate to work hard towards attracting more Foreign Direct Investment (FDI) into the country, ...

Suroco announce commencement of drilling operations for the Quinde-4 well
Posted On Jan 06 ,2014 - 01:17-PM | by admin

Suroco Energy Inc. (TSX Venture Exchange: SRN) (“Suroco” or the “Corporation”) is pleased to announce the commencement of drilling operations for the Quinde-4 well in the Suroriente Block and ...

BlackRock, Inc.'s holding in Neste Oil Corporation above 5%
Posted On Jan 06 ,2014 - 01:30-PM | by admin

Neste Oil Corporation has received on 27 December 2013 an announcement pursuant to Chapter 9, Section 5 of the Securities Markets Act regarding a change in its shareholding. BlackRock, Inc. has annou...

ExxonMobil Employees Raise More Than $1.7 Million for North Texas Charities
Posted On Dec 23 ,2013 - 12:47-PM | by admin

More than 175 local nonprofit organizations benefit from employee-giving campaign ExxonMobil and its employees and retirees in North Texas raised more than $1.7 million for charitable organizations...

CGG wins contract for PDO subsurface imaging centre
Posted On Dec 23 ,2013 - 12:19-PM | by admin

CGG has been awarded a further contract by Petroleum Development Oman (PDO) to provide seismic imaging services at its dedicated center in Muscat, Oman. CGG has been operating the PDO dedicated cen...

Oando to raise $193 million to fund ConocoPhillips deal
Posted On Dec 23 ,2013 - 12:43-PM | by admin

Nigerian energy firm Oando is offering 30.75 billion naira ($193 mln) in shares to help it buy ConocoPhillips' assets in Nigeria, bankers close to the deal told Reuters. Oando, which is also listed in...

Aker Solutions Wins Johan Sverdrup Framework Contract
Posted On Dec 23 ,2013 - 12:32-PM | by admin

Aker Solutions won a framework contract from Statoil to provide engineering services, procurement and management assistance (EPma) for as many as 10 years at the Johan Sverdrup development in the Norw...

Cuadrilla pulls out of Lancashire site
Posted On Dec 18 ,2013 - 12:29-PM | by admin

Cuadrilla has announced it is pulling out of a fracking site near Weeton in Lancashire previously linked to two earth tremors. A Cuadrilla spokesman said: "As part of its ongoing evaluation of its ...

$77.5 per barrel as the oil benchmark for Nigeria
Posted On Dec 18 ,2013 - 12:56-AM | by admin

After days of intense negotiations on the appropriate oil benchmark for 2014 budget, the conference committee of the National Assembly assigned to resolve the impasse has finally adopted $77.5 per bar...

Eni and GasTerra reach agreement on a price review under a Dutch gas supply contract
Posted On Dec 18 ,2013 - 12:33-AM | by admin

Eni and GasTerra have agreed on a package solution for outstanding price reviews under a Dutch long-term gas supply contract. As part of the agreement, Eni achieves a significant price reduction an...

Nigerian Court Stops Chevron from Sale of Oil Blocks to Seplat Petroleum, Others
Posted On Dec 17 ,2013 - 12:48-AM | by admin

A Federal High Court sitting in Lagos has issued an interim junction restraining Chevron Corporation of the United States and its Nigerian subsidiary, Chevron Nigeria Limited (CNL), and their agents f...

Tullow Oil plc (‘Tullow’) announces the following changes to Board responsibilities
Posted On Dec 13 ,2013 - 12:03-PM | by admin

David Bamford – retirement from the Board David Bamford, Senior Independent Director and Chairman of the Remuneration Committee, will retire from the Board at the conclusion of Tullow’s 2014 Annu...

Aker Solutions ASA release mandatory notification of trade
Posted On Dec 13 ,2013 - 12:55-AM | by admin

ker Solutions ASA on 12 December 2013 completed a minor additional award of bonus shares under the company's 2011 share purchase programme. The adjustment concerned an award of in total 96 own shares ...

Wintershall to sell selected oil and gas assets in the North Sea to Hungarian-based MOL
Posted On Dec 13 ,2013 - 12:52-AM | by admin

Selected non-operated assets on the UK Continental Shelf to be divested for US$ 375 Million - Closing of transaction expected in the first quarter of 2014 - BASF subsidiary focuses on own-operated e...

Jon M. Huntsman Jr. Elected to Chevron Board of Directors
Posted On Dec 12 ,2013 - 12:22-AM | by admin

Chevron Corporation (NYSE: CVX) announced that Jon M. Huntsman Jr. has been elected to Chevron's board of directors, effective Jan. 15, 2014, and will serve on the company's Board Nominating and Gover...

Highlights of the latest Oil Market Report by IEA
Posted On Dec 11 ,2013 - 12:47-PM | by admin

The IEA released some statistics on the general outlook on oil supply today. It states that Futures prices fell in early November but bounced back later and into December as refinery runs picked up. O...

OPEC daily basket price stood at $106.83 a barrel Tuesday, 10 December 2013
Posted On Dec 11 ,2013 - 12:53-PM | by admin

The price of OPEC basket of twelve crudes stood at 106.83 dollars a barrel on Tuesday, compared with $107.72 the previous day, according to OPEC Secretariat calculations. ...

Sonangol to explore five onshore blocks
Posted On Dec 11 ,2013 - 12:57-PM | by admin

Sonangol EP, Angola’s state-owned oil company, will explore five onshore blocks and tender them for development if successful, according to a decree by President Jose Eduardo dos Santos. The com...

Kenya Water Treatment Plant treats 92 megalitres of water a day
Posted On Dec 11 ,2013 - 12:21-PM | by admin

QGC – the Australian business of BG Group – has commissioned and is operating a plant which purifies water that would otherwise not be available for irrigation or drinking because it is too salty....

Premier oil withdraws from Block L10A Kenya
Posted On Dec 09 ,2013 - 12:48-PM | by admin

Having conducted a further exploration review, Premier has withdrawn from Block L10A, offshore Kenya. The Company retains its 25 per cent equity in the adjacent Block L10B. Prospect maturation of this...

OGX announces the beginning of Tubarão Martelo field production in the Campos Basin
Posted On Dec 09 ,2013 - 12:20-PM | by admin

OGX announces that it has begun, yesterday, the production in the Tubarão Martelo field, located in the BM-C-39 and BM-C-40 blocks, through the horizontal well TBMT-8H. In November 29, 2013 the Co...

Fleming Gulf Conferences to address growth in KSA plastics industry
Posted On Dec 09 ,2013 - 12:44-PM | by admin

The summit to give an overview, discuss challenges and new trends in the Kingdom's Downstream sector. Polymer demand in the Middle East is projected to grow by 20% in 2016. Highlighting the growth ...

Fire at the Tebidaba-Brass Pipeline in Bayelsa State,Nigeria
Posted On Dec 09 ,2013 - 12:37-AM | by admin

The pipeline fire, comes barely two weeks after a large amount of crude oil was spilled near the company’s facility during the loading of crude oil into export tanker. Eni, which operates in Nige...

Saudi Aramco opens R&D center in Boston area
Posted On Dec 07 ,2013 - 12:46-PM | by admin

The Aramco Research Center in Cambridge, Mass., opens today as the first of three U.S.-based research and development centers aimed at expanding the global research network and capability of Saudi Ara...

BP Accused of Racism by Fired Top Executive
Posted On Dec 07 ,2013 - 12:02-PM | by admin

BP fired a top executive after warning her that braiding her hair and wearing dashikis made her colleagues "uncomfortable," and that she should do so only "during 'culture day' [or] black history mont...

Middle East fuel aid package support for Egypt
Posted On Dec 07 ,2013 - 12:04-PM | by admin

In September, Hisham Ramez, Egypt’s central bank governor, had said the country had, so far, also received US$7bn in aid — US$3bn from the UAE and US$2bn each from Saudi Arabia and Kuwait. “...

RGU and St Andrews University researchers embark on £1.1m biofuel project
Posted On Dec 07 ,2013 - 12:38-PM | by admin

Researchers at two leading Scottish universities have embarked on a £1.1m project to find a clean and effective way of producing biofuel using solar energy. Robert Gordon University (RGU) experts...

CNOOC Limited Wins Golden Bauhinia Best Listed Company Award
Posted On Dec 07 ,2013 - 12:10-AM | by admin

On November 28, the China Listed Companies Overseas Summit Forum and the China Securities Golden Bauhinia Award Ceremony, sponsored by the Ta Kung Pao newspaper, were held in Hong Kong. CNOOC Limited ...

Hess Completes Sale of Its Natuna Asset in Indonesia
Posted On Dec 07 ,2013 - 12:18-AM | by admin

Hess Corporation (NYSE:HES) today completed the previously announced sale of its Natuna A asset, located off the coast of Indonesia, to PT Pertamina and PTT Exploration and Production Company Limited ...

Statoil insist Johan Sverdrup powered from land
Posted On Dec 06 ,2013 - 12:48-PM | by admin

Øyvind Reinertsen, senior vice president for the Johan Sverdrup field says “We are not considering any other solutions for the Johan Sverdrup field than land-based power supply,” “The projec...

Peak Oil & Gas announce seismic acquisition has commenced at South Block A
Posted On Dec 06 ,2013 - 12:27-PM | by admin

Peak Oil & Gas has announced that seismic acquisition has commenced at South Block A and seismic data for the first line received. Initial indications are that the data is of excellent quality and wil...

OPEC daily basket
Posted On Dec 05 ,2013 - 12:33-PM | by admin

The price of OPEC basket of twelve crudes stood at 108.92 dollars a barrel on Wednesday, compared with $108.08 the previous day, according to OPEC Secretariat calculations....

OPEC expects to keep output quota unchanged
Posted On Dec 05 ,2013 - 12:15-PM | by admin

The Organization of the Petroleum Exporting Countries (OPEC) is expected to keep the current oil output quota of 30 million barrels per day unchanged, the grouping said Wednesday. at its 164th mee...

100 innovations for sustainable development: Schneider Electric's BipBop access to energy program doubly recognized
Posted On Dec 05 ,2013 - 12:34-PM | by admin

Schneider Electric announces that two projects in its BipBop (1) access to energy program have been chosen to participate in the “Africa Forum – 100 innovations for sustainable development” taki...

Max Petroleum Plc announce appointment of Joint Corporate Broker
Posted On Dec 05 ,2013 - 12:09-AM | by admin

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has appointed Charles Stanley Securities as joint corporate broker, to work a...

Statoil announce new executive vice president for Development and Production Norway
Posted On Dec 05 ,2013 - 12:12-AM | by admin

Arne Sigve Nylund has been appointed executive vice president for Development and Production Norway. Nylund will assume his new responsibilities on 1 January 2014 and report to Helge Lund, Chief Ex...

Eni and its CEO deny any involvement in the Algerian events under judicial investigation
Posted On Dec 05 ,2013 - 12:45-AM | by admin

With regards to press reports which state that, during interrogation by the Milan prosecutor a former Saipem manager indicated that Eni and its CEO were involved in illegal activities in Algeria, Eni ...

EIA to Release Updated Energy Forecasts to 2040
Posted On Dec 05 ,2013 - 12:56-AM | by admin

WHO: Adam Sieminski, Administrator U.S. Energy Information Administration (EIA) WHAT: EIA presents the reference case from Annual Energy Outlook 2014 Early Release Overview with projections o...

Ophir Energy PLC Total Voting Rights
Posted On Dec 02 ,2013 - 12:13-PM | by admin

Ophir notifies the market that, following the allotment of new ordinary shares on the exercise of share options during November, the Company's issued share capital as at close of business on 29 Novemb...

Statoil says East Canadian oil finds may signal Moroccan crude
Posted On Dec 02 ,2013 - 12:40-PM | by admin

Statoil said oil discoveries off eastern Canada may signal potential crude finds off Morocco in northwest Africa because the regions could have similar geology. Statoil’s latest Bay du Nord find...

South Africa’s ponders on Shale gas exploration
Posted On Dec 02 ,2013 - 12:23-PM | by admin

South Africa is seeking to tap as much as 485 Tcf of gas resources in the Karoo, published draft regulations governing hydraulic fracturing on October 15, a year after lifting a ban on fracking. Pr...

Force majeure on Bonny Light lifted
Posted On Dec 02 ,2013 - 12:31-PM | by admin

The Force Majeure (FM) declared by Shell Petroleum Development Company of Nigeria Ltd (SPDC) on Bonny Light exports was lifted on November 27, 2013. The FM was declared on April 15, 2013 as a result o...

BW Offshore signs contract extension for Abo
Posted On Dec 02 ,2013 - 12:46-AM | by admin

BW Offshore has signed an extension contract for FPSO Abo with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., of six months until the end of Q2 2014. The extension has been agreed to se...

Fortune Oil announces Change of Financial Year-end Date
Posted On Dec 02 ,2013 - 12:20-AM | by admin

Fortune Oil announces the change of its financial year-end date from 31 December to 31 March starting from the financial year of 2014. The change of the Company's financial year end is to align th...

Falkland Islands Oil Executives Threatened With Prison By Argentina
Posted On Nov 29 ,2013 - 11:21-PM | by admin

Argentina has threatened fines, confiscations, and prison sentences for oil executives who operate from the Falkland Islands, claiming new exploration is in breach of United Nations decisions. The ...

UK’s energy minister awards record number of licences to UK independent oil exploration companies
Posted On Nov 29 ,2013 - 11:06-PM | by admin

UK independent oil and gas companies will be incentivised to invest and undertake additional exploration, as Government awarded a further 52 oil and gas licences today, bringing the total number of of...

Discovery of Oil and Gas at Saand Well # 01
Posted On Nov 29 ,2013 - 11:46-AM | by admin

The Joint Venture of Nim Block comprising of Pakistan's Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government Holdings Private Limited (5%) has discovered gas and condensa...

Group Chief Executive at Dana Petroleum steps down
Posted On Nov 29 ,2013 - 11:25-AM | by admin

After three very successful years leading Dana Petroleum, Dr Marcus Richards has decided to step down as Group Chief Executive. Dr Richards joined the company following its takeover by the Korea Na...

GeoPark awarded two new hydrocarbon blocks in Brazil's Round 12
Posted On Nov 29 ,2013 - 11:26-AM | by admin

GeoPark, has been awarded two new licences in the Brazilian Round 12 held yesterday. The awarded blocks were: PN-T-597 Block in the Paranaiba Basin in the State of Maranhao SEAL-T-268 Block in th...

Petróleo Brasileiro S.A. announce result of the 12th Bidding Round of ANP
Posted On Nov 29 ,2013 - 11:28-AM | by admin

Petrobras has acquired, alone or in partnership, 49 blocks, out of the 50 to which the company presented offers, in the 12th Bidding Round held today by the Brazilian National Petroleum, Natural Gas a...

Iran opens contacts with oil groups
Posted On Nov 27 ,2013 - 11:30-PM | by admin

Iran’s oil ministry has opened contacts with western majors as the government of Hassan Rouhani tries to capitalise on progress in nuclear talks and encourage companies to prepare for an eventual li...

ENI outlook revised to negative by Fitch
Posted On Nov 27 ,2013 - 11:41-PM | by admin

Fitch Ratings has revised Italy-based ENI SpA's outlook to negative from stable and affirmed its long-term issuer default rating and senior unsecured rating at 'A+'. Fitch says the outlook revision is...

Fortune Oil Allotment and Issuance of China Gas Holdings Limited Shares
Posted On Nov 27 ,2013 - 11:34-PM | by admin

Pursuant to the Company's announcement headed "Election of China Gas Holdings Limited Shares for Settling the Second Cash Consideration" dated 21 November 2013, Fortune Oil submitted its Share Electio...

PetroChina sued in U.S. court
Posted On Nov 27 ,2013 - 11:50-AM | by admin

PetroChina, China's largest oil and gas producer, recently received notice of complaint from a U.S. court against its former directors and senior management. On Sept. 6 this year, PetroChina confi...

Total eyes Gazprom's Baltic LNG project
Posted On Nov 27 ,2013 - 11:09-AM | by admin

Total is looking for a stake in Russian gas firm Gazprom's future Baltic liquefied natural gas plant after the partners decided to mothball their Shtokman LNG project, Vedomosti daily said on Wednesda...

Notice of extraordinary general meeting issued by Songa Offshore SE
Posted On Nov 27 ,2013 - 11:47-AM | by admin

onga Offshore SE (the "Company") has today issued notice of an extraordinary general meeting in connection with the private placement of shares and the convertible bond issue described in the announce...

Topaz wins Seatrade’s ‘Workboats’award
Posted On Nov 26 ,2013 - 11:18-AM | by admin

Topaz Energy and Marine, a leading offshore support vessel owner with primary operations in the Middle East and Caspian, is pleased to announce that it has won the ‘Workboats’ award at the recent ...

Repsol has initial deal with Argentina on YPF
Posted On Nov 26 ,2013 - 11:59-AM | by admin

Repsol and Argentina reached a preliminary deal on Monday for the Spanish oil major to get paid for the 51 percent stake in the South American's country's main energy company YPF that the Argentine go...

Gazprom anounce first LNG supply to Kaliningrad Region scheduled for late 2017
Posted On Nov 26 ,2013 - 11:41-AM | by admin

Led by Alexey Miller, Chairman of the Gazprom Management Committee, a meeting dedicated to increasing the security of gas supply to the Kaliningrad Region took place in the Company's headquarters. ...

PENGASSAN vows to rejects federal government’s plan to privatise Nigeria’s four refineries
Posted On Nov 26 ,2013 - 11:04-AM | by admin

Oil workers, under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG) have vowed to resi...

Update on the report ‘Swiss traders’ opaque deals in Nigeria’
Posted On Nov 26 ,2013 - 11:25-AM | by admin

The House of Representatives of the Federal Republic of Nigeria ordered an immediate investigation into a multibillion dollar scheme used by the Nigerian National Petroleum Corporation (NNPC) and Nige...

Arne Blystad resigns from Board of Directors of Songa Offshore SE
Posted On Nov 26 ,2013 - 11:50-AM | by admin

Songa Offshore SE announces that Mr. Arne Blystad yesterday resigned from his position as Director with immediate effect....

Partial sale of OGX oil well to ExxonMobil approved
Posted On Nov 25 ,2013 - 11:05-PM | by admin

The Brazilian government Thursday approved U.S. oil giant ExxonMobil's bid to purchase a 35-percent stake in an offshore oil well licensed to Brazil's financially troubled OGX, local media reported. ...

Iraq's oil exports up in October
Posted On Nov 25 ,2013 - 11:50-PM | by admin

The average of Iraq's oil exports increased in October to 2.25 million barrels per day (bpd), compared to 2.07 million bpd in September, the Oil Ministry said on Saturday. Iraq exported a total of...

Oil pipeline explosion in Qingdao city update
Posted On Nov 25 ,2013 - 11:00-PM | by admin

The deaths in an oil pipeline explosion in Qingdao city in China's Shandong province have climbed to 52, rescuers said Sunday. According to the rescue agency, four more bodies were found at the blasts...

9th Middle East Energy Security (MEESEC) Forum
Posted On Nov 25 ,2013 - 11:43-PM | by admin

Constant changes in energy dependence is also changing the dynamics in energy security. Highlighting the latest strategies and technologies to effectively mitigate threats, the 9th Middle East Energy ...

Schneider Electric inaugurate a technology for producing electricity, drinking water and heat simultaneously
Posted On Nov 25 ,2013 - 11:55-AM | by admin

Schneider Electric (http://www.schneider-electric.com), the market leader in energy management with operations in more than 100 countries, inaugurated the MiCROSOL project aims to develop a single, mo...

Wintershall,Petoro AS and Centrica Resources (Norge) AS have a preferred solution for the development of the Maria field
Posted On Nov 25 ,2013 - 11:34-AM | by admin

Wintershall and the two license partners Petoro AS and Centrica Resources (Norge) AS have a preferred solution for the development of the Maria field in the Norwegian Sea: According to the solution, t...

Songa Offshore SE: Group calls in respect of proposed transactions
Posted On Nov 25 ,2013 - 11:09-AM | by admin

Reference is made to the announcement earlier today in respect of proposed transactions involved in a comprehensive refinancing of Songa Offshore SE (the "Company"). The Company will host two grou...

Nigeria promotes increased use of rail network for oil transportation
Posted On Nov 22 ,2013 - 11:21-PM | by admin

The Federal Government has given the go-ahead for the construction of additional rail lines to oil depots in Apapa, Lagos in a bid to ease traffic congestion on the roads. The Minister of Transporta...

Nigeria's state owned oil refineries to be sold off
Posted On Nov 22 ,2013 - 11:20-PM | by admin

The Nigerian Minister of Petroleum Resources, Diezani Alison-Madueke, has revealed that the Federal Government is planning to sell off the state owned oil refineries before the end of the first quarte...

Benthic awarded geotechnical investigation contract
Posted On Nov 21 ,2013 - 11:19-AM | by admin

Benthic, a global geosciences company, has been awarded a contract by Neptune Marine Services Ltd for an offshore geotechnical investigation to collect seabed geotechnical data off the coast of north ...

OCEANTEAM SHIPPING ASA - CSV SOUTHERN OCEAN BAREBOAT EXTENDED UNTIL END OF 2018
Posted On Nov 21 ,2013 - 11:32-AM | by admin

Oceanteam Shipping ASA (OTS) is pleased to confirm the extension of tha bareboat charter with Fugro TS Marine Australia for the CSV Southern Ocean until the end of 2018. The extension of the bareboat ...

GE, Carbon Holdings sign $500m technology cooperation deal
Posted On Nov 20 ,2013 - 11:31-PM | by admin

GE and Carbon Holdings Monday signed a $500 million agreement to provide technology and equity support to the greenfield naphtha cracker and olefins complex project of Tahrir Petrochemicals in Ain Sok...

Apache Declares Cash Dividend On Common Shares
Posted On Nov 20 ,2013 - 11:27-PM | by admin

Sets Date For 2014 Annual Meeting The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) has declared the regular cash dividend on the company's common shares. The dividend on common sh...

OPEC daily basket price stood at $105.04 a barrel Monday, 18 November 2013
Posted On Nov 19 ,2013 - 11:20-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.04 dollars a barrel on Monday, compared with $105.24 the previous Friday, according to OPEC Secretariat calculations . OPEC Reference Basket...

Nigeria to privatise four state-owned oil refineries
Posted On Nov 19 ,2013 - 11:49-AM | by admin

The Nigerian federal government plans to begin the privatisation of four of its state-owned oil refineries before the end of the first quarter of next year, the Minister of Petroleum Resources, Mrs. D...

UK Energy firms's latest price rises puts customers on brink of financial despair
Posted On Nov 19 ,2013 - 11:47-AM | by admin

In the UK households have been subjected to price rises from the big six energy firms since October 2010 that are eight times higher than increases in average earnings, reveals Citizens Advice. Prices...

Statoil accepts Oseberg C fine
Posted On Nov 19 ,2013 - 11:06-AM | by admin

Statoil has decided to accept the NOK 10 million fine imposed on the company for sending 180 cubic metres of wash water with chemicals and scale stored on board the Oseberg C platform with the oil flo...

Lekoil fails to agree terms for OML113 stake
Posted On Nov 19 ,2013 - 11:18-AM | by admin

Lekoil has decided to terminate the binding conditional sale and purchase agreement over the proposed acquisition of an interest in OML113. Lekoil says it has been unable to agree final terms with Pan...

ANP presented at the LatAm HSE in Oil, Gas, Petrochemicals and Energy
Posted On Nov 19 ,2013 - 11:37-AM | by admin

2nd Annual LatAm HSE in Oil, Gas, Petrochemicals and Energy organized by Fleming Gulf Conferences got off to a good start today with The National Agency of Petroleum, Natural Gas and Biofuels - ANP de...

Sonde Resources Corp. Announces Termination of the Viking Farm-Out in North Africa
Posted On Nov 18 ,2013 - 11:41-AM | by admin

Sonde Resources Corp. (“Sonde”) (TSX: SOQ) (NYSE MKT: SOQ) announced today that the North Africa farm-out agreement with Viking Exploration and Production Tunisia Limited (“Viking”) has been t...

PetroChina acquires entire shares of Petrobras Energia Peru S.A.
Posted On Nov 18 ,2013 - 11:33-AM | by admin

On November 13, CNPC E&D Holdings Cooperatief U.A. (CNPC Holdings) and CNODC International Holding Ltd. (CNODC International), both being indirect subsidiaries of PetroChina, entered into an acquisiti...

Chevron Contributes $1.5 Million to Typhoon Haiyan Relief Efforts
Posted On Nov 15 ,2013 - 11:57-PM | by admin

Chevron Corporation (NYSE: CVX) announced today that it has contributed $1.5 million to the American Red Cross to provide disaster relief assistance to Philippine communities affected by Typhoon Haiya...

Lower demand restrain oil prices
Posted On Nov 15 ,2013 - 11:21-AM | by admin

Despite high disruption levels, rising production and lower demand restrain oil prices Unanticipated global petroleum supply disruptions hit a new high of more than 3 million barrels per day (bbl/d) ...

Nigeria House of Representatives pegs the benchmark price of crude oil at $79 per barrel
Posted On Nov 15 ,2013 - 11:07-AM | by admin

At a closed-door session, 79 lawmakers supported adopting $79 per barrel as the oil benchmark while 62 others stuck with the executive's proposal of $74 per barrel according to new reports. Accor...

MRS Oil Nigeria Plc and Conoil Plc are top gainers on the Nigerian Stock Exchange (NSE)
Posted On Nov 15 ,2013 - 11:51-AM | by admin

Two oil stocks led the price gainers recording the maximum appreciation at the end of trading on the Nigerian bourse Thursday. The market posted the second consecutive negative performance with th...

Extended lifetime and production on Statoil's oldest platform
Posted On Nov 15 ,2013 - 11:50-AM | by admin

The Statfjord A platform in the North Sea actually should have been shut down several years ago. Statoil, Centrica and ExxonMobil have now decided to extend production from the platform until 2020. ...

3rd annual Advanced FSPO Forum
Posted On Nov 14 ,2013 - 11:58-AM | by admin

The BIS Group is hosting its 3rd annual Advanced FSPO Forum, which will take place in May 2014. The standard BIS concept - an intimate two day forum and discussion followed by a half day workshop, lim...

CAMAC energy announce third quarter 2013 results
Posted On Nov 14 ,2013 - 11:57-AM | by admin

CAMAC Energy announced financial and operating results for the three months ended September 30, 2013. Highlights for the third quarter include the following: •Total revenue was approximately $3.5 m...

Eni issues new fixed rate bond offering
Posted On Nov 14 ,2013 - 11:36-AM | by admin

Eni has mandated Barclays, Goldman Sachs International, Mediobanca, Morgan Stanley, Société Générale and UniCredit Bank as Joint Bookrunners for its upcoming fixed rate Euro benchmark size 8 year ...

Sudan to offer new exploration blocks in December
Posted On Nov 13 ,2013 - 11:48-PM | by admin

New exploration blocks in Sudan will be put up for auction during December, according to Sudan’s Oil Minister Awad Al Jaz. The country plans to auction off five oil blocks before the end of the year...

Kidnapped Americans Released
Posted On Nov 13 ,2013 - 11:21-PM | by admin

The two Americans kidnapped offshore Nigeria in October have been released according to the US State Department. “We welcome the release of the two US citizens who were kidnapped from the M/V C-Ret...

Noble Energy to Present at the Bank of America Merrill Lynch Global Energy Conference
Posted On Nov 13 ,2013 - 11:48-PM | by admin

Noble Energy, Inc. (NYSE: NBL) announced today that Charles D. Davidson, the Company's Chairman and CEO, will present at the Bank of America Merrill Lynch Global Energy Conference on Thursday, Novembe...

Nigeria House of Representatives to investigate the report by Berne Declaration
Posted On Nov 13 ,2013 - 11:40-AM | by admin

The House of Representatives’ Committees on Petroleum Upstream and Downstream), and Justice are to investigate the Nigerian National Petroleum Corporation (NNPC) for allegedly conniving with a Swiss...

Adnoc, Masdar sign deal on CCUS projects
Posted On Nov 12 ,2013 - 11:56-PM | by admin

Abu Dhabi National Oil Company (Adnoc) and Masdar on Sunday signed a joint venture agreement for carbon capture, usage and storage (CCUS) in the presence of Sheikh Hazza bin Zayed Al Nahyan, National ...

NPCC announces Leadership Development Programme with Ashridge Business School
Posted On Nov 12 ,2013 - 11:11-PM | by admin

Abu Dhabi-based National Petroleum Construction Company (NPCC) has announced the launch of its new Leadership Development Programme, devised and implemented in conjunction with Ashridge Business Schoo...

Construction of South Stream in Serbia to start before year end
Posted On Nov 12 ,2013 - 11:36-PM | by admin

Alexey Miller held meetings with Serbian President Tomislav Nikolic, Prime Minister Ivica Dacic and First Deputy Prime Minister Aleksandar Vucic. The parties discussed the Russian-Serbian cooperat...

Gas leak alert over at Neste Oil's Porvoo refinery
Posted On Nov 12 ,2013 - 11:42-PM | by admin

Gas leak alert over at Neste Oil's Porvoo refinery The hazardous situation that resulted from a leak of LPG at the Porvoo refinery has been declared over. Repairs on the section of the process unit...

Leak of LPG at Neste Oil's Porvoo refinery
Posted On Nov 12 ,2013 - 11:07-PM | by admin

A leak from a valve at a unit that had been shut down for maintenance took place at Neste Oil's Porvoo refinery this afternoon, involving LPG containing a very small quantity of hydrofluoric acid. As ...

Gas city in Delta State, Nigeria
Posted On Nov 12 ,2013 - 11:24-AM | by admin

DELTA State may by 2020 host Africa’s largest gas city in Ogidigben, Warri South West Local Government area with an estimated cost of $26 billion (N4.2 trillion), under a joint arrangement between t...

Dana Petroleum welcomes publication of interim report by Sir Ian Wood
Posted On Nov 12 ,2013 - 11:42-AM | by admin

Dana Petroleum has welcomed the publication of an interim report by Sir Ian Wood on the future of the UK oil and gas industry which was published yesterday. The report UKCS Maximising Recovery Revi...

Petronas announce oil production from the Balai field has commenced
Posted On Nov 12 ,2013 - 11:15-AM | by admin

PETRONAS is pleased to announce that oil production from the Balai field in the Balai Cluster Risk Service Contract (RSC) area, has commenced on 6 November 2013. The field’s first oil was achieved u...

TNK-Uvat Discovers New Oil Field
Posted On Nov 12 ,2013 - 11:00-AM | by admin

Rosneft subsidiary TNK-Uvat has discovered a new oil field, it named Kirilkinskoye. The materials of the operational analysis of oil and dissolved gas reserves have been discussed and approved by the ...

Songa Offshore SE release report for the Third Quarter 2013
Posted On Nov 11 ,2013 - 11:07-PM | by admin

Songa Offshore SE reports total revenue for the third quarter 2013 of USD 131.0 million. Total expenses for the third quarter 2013 were USD 80.4 million. EBITDA for the third quarter 2013 was US...

Global oil supplies abundant as price dips slightly
Posted On Nov 08 ,2013 - 11:45-PM | by admin

The price of oil fell yesterday, as an unexpected rate cut by the European Central Bank strengthened the dollar Benchmark US crude for December delivery fell 60 cents to US$94.20 a barrel on the ...

OPEC will lose oil market share to shale oil
Posted On Nov 08 ,2013 - 11:46-PM | by admin

OPEC could lose almost 8 percent of its oil market share in the next five years as the shale energy boom and other competing sources boost rival supply, offering the exporter group little benefit from...

Daily basket price Thursday, 7 November 2013
Posted On Nov 08 ,2013 - 11:20-PM | by admin

OPEC daily basket price stood at $102.64 a barrel The price of OPEC basket of twelve crudes stood at 102.64 dollars a barrel on Thursday, compared with $103.82 the previous day, according to OPEC Se...

CNPC and Shell jointly establish a Shale Oil Research Center
Posted On Nov 08 ,2013 - 11:43-PM | by admin

On October 30, the Shale Oil Joint Research Center co-established by CNPC and Shell was inaugurated in CNPC's Research Institute of Petroleum Exploration and Development in Beijing. In recent year...

GE Oil & Gas Boosts Local Content in Brazil
Posted On Nov 08 ,2013 - 11:26-PM | by admin

GE Oil & Gas (NYSE: GE) announced the startup of turbomachinery packaging and testing activities in Brazil that will increase the amount of locally produced equipment used for onshore and offshore pro...

Shell has wrongly reported the cause of oil spills in the Niger Delta
Posted On Nov 08 ,2013 - 11:38-PM | by admin

Shell has manipulated oil spill investigations in Nigeria, with the company’s claims on oil pollution in the region deeply suspect and often untrue, said Amnesty International and the Centre for Env...

Suspicions of Corruption in Guinea
Posted On Nov 08 ,2013 - 11:02-AM | by admin

All key people in the Beny Steinmetz Group (BSG), who are the object of an investigation in Guinea, live either on the shores of Lake Leman in Geneva or just next door in France. The organogram put to...

Daewoo builds Sonangol oil rigs
Posted On Nov 07 ,2013 - 11:08-PM | by admin

Angola, is building the first two drilling rigs to fly the flag of Sonangol as the country embarks on its biggest deepwater drilling campaign. “The rigs will be able to operate in Angola and any...

Penn West Announces the Results of its Board Strategic Review Process
Posted On Nov 07 ,2013 - 11:58-AM | by admin

Long-Term Plan, $485 Million in Non-Core Asset Divestitures and 2014 Capital and Production Guidance PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", "our" or the "Company") is pleas...

Lekoil provides Update on the Proposed Acquisition of Interest in OML113, Offshore Nigeria
Posted On Nov 07 ,2013 - 11:21-AM | by admin

Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces that, further to the announcement on 31 October 2013 (‘Intention to raise ap...

Tullow Oil completes its offering
Posted On Nov 07 ,2013 - 11:27-AM | by admin

Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that it has completed its offering of $650 million aggregate principal amount of 6% senior notes due 2020 (the “Notes”). ...

CNPC's largest pipe-laying barge sails out for Tanzania
Posted On Nov 06 ,2013 - 11:15-AM | by admin

On October 30, CNPC's largest pipe-laying barge CPP 601 sailed out from Nantong, Jiangsu province, to undertake the construction of a 29km-long subsea pipeline project in Tanzania. CPP 601, owned a...

CME Group Inc. Declares Quarterly Dividend
Posted On Nov 06 ,2013 - 11:57-AM | by admin

CME Group, the world's leading and most diverse derivatives marketplace, today declared a fourth-quarter dividend of $0.45 per share, payable December 26, 2013, to shareholders of record December 10, ...

CME Group's Statement on CFTC's New Position Limits Proposal
Posted On Nov 05 ,2013 - 11:15-PM | by admin

CME Group, the world's leading and most diverse derivatives marketplace, today released the following statement in response to the CFTC's new position limits proposal. "CME Group supports position ...

Crimea to Feature Largest Wind Power Station in Eastern Europe
Posted On Nov 05 ,2013 - 11:17-PM | by admin

Ukraine will soon house one of the largest wind power plants in Eastern Europe. Such statement was made by the Deputy Chairman of the Council of Ministers of Crimea Rustam Temirhaliyev during the wind...

Maintaining the stability of global gas markets - Qatar Minister of Energy and Industry
Posted On Nov 05 ,2013 - 11:48-PM | by admin

His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry, stressed the significance of maintaining the stability of the global gas markets and to promote investments in new gas p...

Enterprise Products Partners L.P. Prices Public Unit Offering
Posted On Nov 05 ,2013 - 11:03-PM | by admin

Enterprise Products Partners L.P. (NYSE: EPD) today announced that it has priced a public offering of 8,000,000 common units representing limited partner interests in the partnership at a public offer...

CSOLPE and LKO sign Memorandum of Understanding (MOU)
Posted On Nov 05 ,2013 - 11:38-PM | by admin

Lakes Oil NL (“LKO”) and China Shengli Oilfield Longxi Petroleum Engineering Company Ltd (CSOLPE) of China, a subsidiary of Sinopec, have agreed to take the first steps to investigate a possible j...

NNPC says Minna depot fire incident a minor Challenge
Posted On Nov 05 ,2013 - 11:41-AM | by admin

The Management of the Nigerian National Petroleum Corporation (NNPC) has described the Minna Depot fire incident in Niger state as a minor challenge that is already being repaired. The fire which ...

Nigeria may lose $12bn in 2013 due to Oil theft
Posted On Nov 04 ,2013 - 11:00-PM | by admin

Revenue earned by Nigeria this year may be as much as $12 billion short of budget estimates as theft of crude and output disruptions persist in the oil-rich Niger River delta, Finance Minister Ngozi O...

Nembe Creek Trunkline for sale
Posted On Nov 04 ,2013 - 11:40-AM | by admin

Shell Petroleum Development Company (SPDC) has decided to sell its 97-kilometre Nembe Creek Trunkline (NCTL). The decision to sell NCTL is coming barely three years after the Anglo/Dutch multinati...

Hess Completes Sale of Its Energy Marketing Business
Posted On Nov 02 ,2013 - 11:28-PM | by admin

Hess Corporation (NYSE: HES) today completed the previously announced sale of its Energy Marketing business to Direct Energy, a North American subsidiary of Centrica plc, for a total consideration of ...

Statoil appoints new Tanzania country manager
Posted On Nov 01 ,2013 - 11:02-AM | by admin

Øystein Michelsen has been appointed Tanzania country manager in Development and Production International, Sub-Saharan Africa (DPI SAF) in Statoil. Michelsen will report to DPI SAF senior vice pre...

Lekoil raises approximately US$100 million
Posted On Nov 01 ,2013 - 11:38-AM | by admin

Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces, further to the announcement made yesterday afternoon, that it has entered int...

Total announces Third Quarter 2013 Results & interim dividends
Posted On Nov 01 ,2013 - 11:45-AM | by admin

Adjusted net income of €2.7 billion. Full Report: Total 3Q-Results The Board of Directors of Total approved a third qua...

Chevron Announces Quarterly Dividend
Posted On Oct 31 ,2013 - 10:54-AM | by admin

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar ($1.00) per share, payable December 10, 2013, to holders of common stock as shown on the tra...

OPEC daily basket price Wednesday, 30 October 2013
Posted On Oct 31 ,2013 - 10:00-AM | by admin

The price of OPEC basket of twelve crudes stood at 106.31 dollars a barrel on Wednesday, compared with $106.36 the previous day, according to OPEC Secretariat calculations .

Exxon Mobil Corporation Declares Fourth Quarter Dividend
Posted On Oct 30 ,2013 - 10:35-PM | by admin

The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of 63 cents per share on the Common Stock, payable on December 10, 2013 to shareholders of record of Common ...

Eni CEO Paolo Scaroni meets the President of the Republic of Ukraine Viktor Yanukovich
Posted On Oct 30 ,2013 - 10:33-PM | by admin

The President of the Republic of Ukraine, Viktor Yanukovych, and the Chief Executive Officer of Eni, Paolo Scaroni, met today in Kiev to discuss about Eni’s projects in the country. During the m...

Gabon awards oil blocks
Posted On Oct 30 ,2013 - 10:40-AM | by admin

Gabon has awarded 13 oil and gas blocks to 11 companies as part of a major deepwater licensing round, which the Central African country hopes will boost oil production to 500,000 barrels per day (bpd)...

Gulf Keystone announces offering
Posted On Oct 30 ,2013 - 10:02-AM | by admin

Gulf Keystone announces today the launch of an offering (the "Offering") of senior unsecured convertible bonds which will be issued in a principal amount of US$ 50 million (the "New Bonds"). The New B...

New South Wales bushfires
Posted On Oct 30 ,2013 - 10:40-AM | by admin

BHP Billiton today donated A$500,000 to Red Cross emergency response and recovery work in New South Wales from the BHP Billiton Sustainable Communities charity. BHP Billiton Coal President, Dean Da...

Gulf International Services (GIS) Declares Strong Third Quarter Results
Posted On Oct 29 ,2013 - 10:48-PM | by admin

Highest third quarter year to date revenue since inception • Revenue up on 2012 by over 60% • Net profit improved on last year by over 40% • Strong results aided by ambitious growth in all...

ExxonMobil to Discuss Third-Quarter Earnings on October 31 Conference Call
Posted On Oct 29 ,2013 - 10:32-PM | by admin

Exxon Mobil Corporation (NYSE:XOM) will release third quarter 2013 earnings on Thursday, October 31. David Rosenthal, vice president of Investor Relations, will review the results during a listen-only...

Spotlight On Energy Corporate Security
Posted On Oct 29 ,2013 - 10:48-AM | by admin

Middle East Energy Security Forum to feature sessions on the geo-politics of energy and corporate security The energy sector has recently been in constant debate about how (and if) the US is heading ...

ShaMaran Petroleum Corp. Plans USD $150 Million Bond Placement
Posted On Oct 29 ,2013 - 10:57-AM | by admin

ShaMaran Petroleum Corp. ("ShaMaran" or the "Corporation") (TSX VENTURE:SNM) (OMX:SNM) reports that it plans to issue a USD $150 million senior secured bond. Net proceeds from the bond will be used to...

Gazprom proposing to hold 28th World Gas Conference in St. Petersburg
Posted On Oct 29 ,2013 - 10:06-AM | by admin

Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom Export, Member of the Council of the International Gas Union (IGU) made a statement at the IGU Coun...

Wintershall wins the German PR Award
Posted On Oct 28 ,2013 - 10:45-PM | by admin

Wintershall has won the International German PR Award again: the German Public Relations Association (DPRG) bestowed the award on the BASF subsidiary for its international image and technology communi...

Petrobras reports Net Income of R$ 3,395 million in Q3
Posted On Oct 28 ,2013 - 10:57-AM | by admin

Petrobras announces today its consolidated results stated in millions of Reais, prepared in accordance with International Financial Reporting Standards – IFRS issued by the International Accounting ...

Aker Solutions ASA: Mandatory notification of trade
Posted On Oct 28 ,2013 - 10:37-AM | by admin

Aker Solutions ASA on 25 October 2013 completed a minor additional award of bonus shares under the company's 2011 share purchase programme. The adjustment concerned an award of in total 345 own shares...

OAO NOVATEK concludes agreement on LNG supply with CNPC
Posted On Oct 25 ,2013 - 10:50-AM | by admin

OAO NOVATEK (“NOVATEK”) announced the conclusion of Heads of Agreement for the supply of liquefied natural gas (LNG) between Yamal LNG and China National Petroleum Corporation (“CNPC”). The do...

Exploration Progress Made in Bohai
Posted On Oct 25 ,2013 - 10:29-AM | by admin

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) announced the Company recently made a mid-sized new exploration discovery Luda 5-2 North and successfully appraised the mid-sized oi...

Gas2Grid announces Malolos-1 oil discovery
Posted On Oct 24 ,2013 - 10:01-AM | by admin

Gas2Grid successfully perforated and flow tested two oil bearing sandstones in Malolos-1 at depths of 2,219 – 2,227.5 metres (7,280 – 7,308 feet) and 2,178 – 2,195.4 metres (7,152 – 7,207 feet...

Petrochemical plant at Grangemouth to go into liquidation
Posted On Oct 24 ,2013 - 10:49-AM | by admin

The dispute between Grangemouth owner Ineos and workers has resulted in the site's petrochemical plant going into liquidation. ‘The company made it clear that rejection of change would result in ...

Reserve Bank of India update on dollar-swap window for oil companies
Posted On Oct 24 ,2013 - 10:49-AM | by admin

"The Reserve Bank of India today clarified that the Oil Marketing Companies (OMC) swap window remains operational. Any tapering of the window, as and when it occurs, will be done in a calibrated manne...

OPEC daily basket price Tuesday, 22 October 2013
Posted On Oct 23 ,2013 - 10:21-PM | by admin

The price of OPEC basket of twelve crudes stood at 106.77 dollars a barrel on Tuesday, compared with $106.76 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Bas...

Noble Energy Declares Quarterly Dividend
Posted On Oct 22 ,2013 - 10:54-PM | by admin

Noble Energy, Inc.'s (NYSE: NBL) Board of Directors today declared a quarterly cash dividend of 14 cents per common share payable on November 18, 2013 to the shareholders of record on November 4, 2013...

Protesters clash with Brazilian security forces
Posted On Oct 22 ,2013 - 10:14-PM | by admin

The Brazilian government deployed more than a thousand troops around the beach front Windsor hotel where the Libra offshore oil block auction took place.The field was discovered in 2010, and could alm...

Nigeria military, police not aiding activities of oil thieves
Posted On Oct 22 ,2013 - 10:30-AM | by admin

The Royal Dutch company, in a statement of reaction to a media report entitled: “How military, police aid oil thieves”, said the views and conclusions expressed by the reporter did not emanate fro...

Gazprom and CNPC look into cooperation prospects
Posted On Oct 22 ,2013 - 10:24-AM | by admin

Eastern Gas Program Beijing hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC). ...

Saudi Arabia plans to use shale gas for power generation
Posted On Oct 21 ,2013 - 10:40-PM | by admin

Saudi Aramco CEO Khalid Al-Falih said recently, “We are ready to start producing our own shale gas and unconventional resources in various types in the next few years and deliver them to consumers. ...

EIA claims US crude oil supplies rose by 1.1 percent
Posted On Oct 21 ,2013 - 10:19-PM | by admin

Crude supplies increased by 4 million barrels, or 1.1 percent, to 374.5 million barrels, which is 1.4 percent above year-ago levels, the Energy Department's Energy Information Administration said ...

Qatar Petroleum participates in the 22nd World Energy Congress
Posted On Oct 21 ,2013 - 10:48-PM | by admin

Qatar Petroleum (QP), along with some of its joint ventures and subsidiaries as well as its Industrial Cities Directorate, took part in the 22nd World Energy Congress 2013, which was held last October...

Brittania-U Nigeria Limited bid $1.6 billion for three oil blocks (OMLs) 52, 53 and 55
Posted On Oct 21 ,2013 - 10:19-PM | by admin

The $1.6 billion bid made by Brittania-U Nigeria Limited for the three oil blocks offered for sale by Chevron Nigerian Limited, has raised eyebrows. The concern in the oil industry has been fuel...

CNPC and Rosneft sign MOU on expanding upstream cooperation in eastern Siberia
Posted On Oct 21 ,2013 - 10:01-PM | by admin

On October 17, Chinese Vice Premier Zhang Gaoli met with Igor Sechin, Rosneft President and Chairman of the Management Board and Executive Secretary of the commission on the strategic development of R...

UK government okays new nuclear power station
Posted On Oct 21 ,2013 - 10:25-AM | by admin

The British government announced it reached a commercial agreement with EDF Group (a French energy company) on a proposed investment contract for a nuclear power station in Somerset. EDF Group said Ch...

Dana Petroleum launches new company magazine
Posted On Oct 21 ,2013 - 10:57-AM | by admin

Dana Petroleum has launched a new magazine offering insight and discussion into the issues shaping the future of the oil and gas industry. Featuring articles from experts, writers and public figure...

In Nigeria, NNPC refutes product importation stoppage
Posted On Oct 21 ,2013 - 10:03-AM | by admin

The management of the Nigerian National Petroleum Corporation, NNPC, has refuted allegations that it has stopped the importation of petroleum products as is being reported in some national and interna...

Early Response to Grangemouth Survival Plan "Extremely Positive"
Posted On Oct 21 ,2013 - 10:46-AM | by admin

INEOS Grangemouth (UK) has today announced that the early responses by employees to its Survival Plan have been extremely positive. The company sent out a letter on Thursday to all 1350 workers at...

Excessive Petrol Orders Cause Glut in Nigeria
Posted On Oct 18 ,2013 - 10:46-PM | by admin

NNPC Halts Petrol Imports as Excessive Orders Cause Glut The Pipelines and Product Marketing Company (PPMC) has suspended fuel importation, as excessive orders in the wake of the fuel subsidy scand...

TNP reopens after crude theft fire in Nigeria
Posted On Oct 17 ,2013 - 10:08-PM | by admin

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) today (October 16) reopened the 28-inch line of the Trans Niger Pipeline (TNP) today (October 16) after repairs have been completed follow...

China and Russia to expand cooperation on energy projects
Posted On Oct 17 ,2013 - 10:17-PM | by admin

China and Russia plan to expand cooperation on energy projects, including oil and gas supply, nuclear energy and renewable energy. "China is willing to expand all-around energy cooperation with Rus...

Rosneft Consolidates 100% of Taas-Yuriakh Neftegazodobycha
Posted On Oct 17 ,2013 - 10:43-PM | by admin

On October 14, 2013 Rosneft consolidated 100% of Taas-Yuriakh Neftegazodobycha LLC into Rosneft subsidiary RN-Vostochnaya Sibir LLC. The consolidation of Taas-Yuriakh Neftegazodobycha will boost th...

Survey reveals growing support for gas exploration in Lancashire
Posted On Oct 17 ,2013 - 10:47-PM | by admin

New research from BritainThinks shows that a majority of the public within Cuadrilla’s Bowland Basin licence area support shale gas exploration and the numbers in favour are continuing to rise. ...

Dana Petroleum brings new production online in Southern North Sea
Posted On Oct 17 ,2013 - 10:56-AM | by admin

Dana Petroleum has successfully brought 3,500 bbls/day of new production online from an infill well in the Hanze field in the Dutch sector of the North Sea. The initial flow rate from the Hanze Infil...

IOC Divestments Good Development for Nigerian Oil Producers
Posted On Oct 17 ,2013 - 10:39-AM | by admin

Group Managing Director of the NNPC, Andrew Yakubu, told journalists at the ongoing World Energy Congress in Daegu, South Korea, that the reported divestments were not only healthy for the oil and gas...

LADOL to build FPSO platform integration facility in Nigeria
Posted On Oct 17 ,2013 - 10:52-AM | by admin

LAGOS Deep Offshore Logistics Base (LADOL) plans to invest around $350m (N56bn) to set up an integration facility for oil and gas sector in Nigeria. LADOL has already completed arrangements to buil...

Nigeria: Fire reported on TNP right of way as SPDC tackles oil spills
Posted On Oct 16 ,2013 - 10:49-PM | by admin

A fire outbreak was reported (October 14) within the SPDC JV right-of-way at Patrick Waterside, Bodo, Ogoniland and close to the Trans Niger Pipeline (TNP), even as investigations and repair work con...

Impact of the US federal government shutdown on EIA
Posted On Oct 15 ,2013 - 10:39-PM | by admin

EIA is closed due to a lapse in appropriations. EIA will not update its website until the agency reopens. As a result of the lapse in appropriations for the U.S. Energy Information Administration,...

Songa Offshore SE : Appointment of new Chief Operating Officer - COO
Posted On Oct 15 ,2013 - 10:49-PM | by admin

Songa Offshore SE ("Songa" or the "Company") strengthens its Management Team with the Appointment of Mark Bessell to the position of COO. Bessell will report to CEO Bjornar Iversen and will start in ...

Renewed divestment by IOCs in Nigeria highlights troubled industry
Posted On Oct 15 ,2013 - 10:24-PM | by admin

A swathe of big equity divestments by some multinational oil companies in Nigeria has put fresh pressure on the petroleum industry, causing both anxiety and hope among stakeholders, BusinessDay invest...

Noble Energy Announces Appraisal Drilling And Flow Test Results Offshore Republic Of Cyprus
Posted On Oct 07 ,2013 - 10:49-PM | by admin

Noble Energy, Inc. (NYSE: NBL) announced today that the A-2 appraisal well drilled on the Block 12 discovery offshore the Republic of Cyprus has successfully encountered approximately 120 feet of net ...

IMF Fiscal Affairs Department Director Carlo Cottarelli Notifies Management of Intention to Resign
Posted On Oct 04 ,2013 - 10:17-PM | by admin

Carlo Cottarelli, Director of the Fiscal Affairs Department at the International Monetary Fund (IMF), has notified IMF Managing Director Christine Lagarde of his intention to resign with effect on Oct...

Petrobras’ global foreign currency and local currency debt ratings downgraded
Posted On Oct 04 ,2013 - 10:40-PM | by admin

ResoMoody’s downgrades risk rating and maintains Investment Grade Petrobras announces that credit rating agency Moody’s has downgraded Petrobras’ global foreign currency and local currency debt...

NNPC blames pipeline vandalism, crude theft for Revenue fall
Posted On Oct 04 ,2013 - 10:17-PM | by admin

The Nigerian National Petroleum Corporation, NNPC, has said that the massive ongoing gas pipeline projects across the country will provide a veritable platform for individual homes and estates to be l...

Gazprom and Petrovietnam promoting cooperation
Posted On Oct 04 ,2013 - 10:05-AM | by admin

Hanoi (the Socialist Republic of Vietnam) hosted the sixth meeting of the Joint Coordinating Committee (JCC) between Gazprom and Petrovietnam State Oil and Gas Corporation aimed at implementing the St...

IMF's 2013 Annual Report: Promoting a More Secure and Stable Global Economy
Posted On Oct 02 ,2013 - 10:21-AM | by admin

The global economy is in better shape, but the road to a robust and comprehensive recovery remains bumpy, says IMF Managing Director Christine Lagarde in an introduction to the institution’s Annual ...

EIA to Release Winter Fuels Outlook
Posted On Oct 02 ,2013 - 10:14-AM | by admin

WHO: Adam Sieminski, Administrator U.S. Energy Information Administration (EIA) WHAT: EIA presents its outlook for heating fuel costs with the release of its October 2013 Short-Term Energy Outl...

Nigeria's FG Reduces Subsidy Bill by 56 Per Cent
Posted On Sep 30 ,2013 - 09:38-PM | by admin

The federal government has paid a total of N287 billion as subsidy on verified claims to marketers so far this year as it looks set to reduce the total subsidy bill this year by 56 per cent from N2.2 ...

Nigeria's DPR to Begin Marketers' License Renewals in October
Posted On Sep 30 ,2013 - 09:11-PM | by admin

The Department of Petroleum Resources has said the normal process of renewal of oil marketers licenses will take off from October, 2013 to February 28, 2014 for the 2014/2015 licensing period. The...

Power Nigeria opens this week in Lagos
Posted On Sep 30 ,2013 - 09:34-PM | by admin

Manufacturers use event as launch pad for latest products; experts provide deeper understanding about country’s energy sector at technical seminars The showcase event for the African power indust...

Turkish Ministry of Energy and Natural Resources supports Global Gas Opportunities Summit
Posted On Sep 30 ,2013 - 09:27-PM | by admin

Fueling Cross Border Initiatives - The Ministry of Energy and Natural Resources; Turkey is supporting Global Gas Opportunities Summit to be held in Istanbul, Turkey from 1 - 3 October 2013. The summit...

Statement at the Conclusion of an IMF Mission on the 2013 Article IV Consultation and on Possible Support under the Rapid Credit Facility and a Staff-Monitored Program in
Posted On Sep 30 ,2013 - 09:36-PM | by admin

An International Monetary Fund (IMF) team visited Juba during September 11-25, 2013. The mission issued the following statement at the end of the visit: “South Sudan’s economic outlook is impr...

Premier Oil plc Expands its Portfolio of Paradigm Interpretation Software Solutions
Posted On Sep 30 ,2013 - 09:31-PM | by admin

Paradigm’s Windows-based seismic interpretation solution efficiently handles large 2D/3D regional datasets and enhances interaction with other third-party applications. Paradigm® (www.pdgm.com) ...

Wright’s Well Control Services goes to Nigeria, West Africa
Posted On Sep 30 ,2013 - 09:04-AM | by admin

On August 1, 2012 Wright’s Well Control Services was contracted by Marine Platform Limited and Chevron Nigeria to provide a means of supplying a fluid delivery system for deepwater intervention. Usi...

Statoil awards PR framework agreements
Posted On Sep 30 ,2013 - 09:45-AM | by admin

Statoil has signed global framework agreements with two agencies, Gambit Hill+Knowlton Strategies and RLM Finsbury. The contract awards conclude a procurement process where more than 20 agencies we...

Developments in natural gas to be discussed at summit to be held in Turkey
Posted On Sep 30 ,2013 - 09:33-AM | by admin

Global Gas Opportunities Summit will gather global oil and gas professionals and discuss the latest developments in the gas industry Energy Information Administration (EIA) states that in 2009 in ...

Russian Coast Guard illegally boards Greenpeace ship
Posted On Sep 20 ,2013 - 09:13-PM | by admin

In response to Arctic drilling protest, Russian Coast Guard illegally boards Greenpeace ship A peaceful protest at an oil rig in the Arctic against risky oil drilling resulted in two arrests. The f...

Gazprom to acquire new licenses in Tajikistan
Posted On Sep 20 ,2013 - 09:51-PM | by admin

Gazprom's delegation including Alexey Miller, Chairman of the Gazprom Management Committee and Valery Gulev, Director General of Gazprom International paid a visit today to Tajikistan. As part of ...

Eni and SNPC to jointly explore the Ngolo congolese block
Posted On Sep 20 ,2013 - 09:06-PM | by admin

Eni and the Congolese state company Société Nationale des Pétroles du Congo (SNPC),will jointly explore the hydrocarbon potential of the Ngolo block, which is part of the Cuvette Basin. The block i...

Nigerian crude oil is being stolen on an industrial scale
Posted On Sep 20 ,2013 - 09:44-PM | by admin

Chatham House: Nigeria oil theft a global criminal enterprise Oil theft in Nigeria is a huge criminal operation affecting companies and states around the world, but interest in tackling the prob...

RWE Dea assumes sponsorship for Juris, the grey seal
Posted On Sep 17 ,2013 - 09:14-PM | by admin

Juris, the grey seal, is very happy about its new sponsors: the employees of the Holstein production facility are sponsoring the grey seal in the seal sanctuary in Friedrichskoog. The sponsorship incl...

Noble Energy Announces $500,000 Donation To Support Colorado Relief And Recovery
Posted On Sep 17 ,2013 - 09:34-PM | by admin

Noble Energy, Inc. (NYSE: NBL) today announced that the company will donate $500,000 to support disaster-relief and recovery efforts for the communities affected by floods in Colorado. The contributio...

US-Russia deal over Syria weapons reduce oil prices
Posted On Sep 17 ,2013 - 09:37-AM | by admin

OPEC daily basket price stood at $109.04 a barrel Monday, 16 September 2013 The price of OPEC basket of twelve crudes stood at 109.04 dollars a barrel on Monday, compared with $109.87 the previous da...

Gazprom becomes Official Partner of FIFA and 2018 FIFA World Cup™
Posted On Sep 17 ,2013 - 09:55-AM | by admin

In Sochi, in the presence of Russian President Vladimir Putin and Russian Sports Minister Vitaly Mutko, Gazprom Management Committee Chairman Alexey Miller and FIFA (Fédération Internationale de Foo...

Noble Energy 3rd quarter 2013 results webcast and conference call
Posted On Sep 16 ,2013 - 09:01-AM | by admin

Noble Energy, Inc. (NYSE: NBL) will host its third quarter 2013 results webcast and conference call at 9:00 a.m., Central Time, Thursday, October 24, 2013. The Company plans to issue its financial an...

Eni confirmed in the sustainability FTSE4 Good Index
Posted On Sep 16 ,2013 - 09:59-AM | by admin

Eni has been confirmed in the FTSE4 Good Index, one of the world's most respected corporate social responsibility stock-market indexes. Eni, member of the index since 2007, confirms with this reco...

Petrobras Asset Sale in Colombia
Posted On Sep 16 ,2013 - 09:48-AM | by admin

Petrobras announces that its Board of Directors, in a meeting held today, approved the sale of 100% of shares issued by Petrobras Colombia Limited (PEC) to Perenco for US$ 380 million. Petrobras Co...

H.E. Dr. Al-Sada calls for cooperation to encourage efficient and stable LNG market environment
Posted On Sep 13 ,2013 - 09:49-AM | by admin

In a keynote speech at the opening of the LNG Producer-Consumer Conference in Tokyo, His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry, said “gas prices will remain regi...

GE is Maran Gas’s Partner of Choice for Propelling the LNG Transport Industry
Posted On Sep 12 ,2013 - 09:24-PM | by admin

Contracts Signed for Four LNG Carriers to be Delivered from July 2015 Onwards ■Latest Contract Brings Total Number of Vessels to be Equipped with GE’s Technology for Maran Gas to 15, Demonstratin...

Subsea 7 S.A. awarded US$140 million contract offshore Norway
Posted On Sep 12 ,2013 - 09:02-PM | by admin

Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of a contract valued at approximately $140 million from Statoil for the removal and replacement of risers, flowlines and associated subsea structur...

IMF Convenes Caribbean Forum on Sustainable Growth
Posted On Sep 12 ,2013 - 09:34-PM | by admin

The International Monetary Fund (IMF) and the Ministry of Finance of The Bahamas will hold a conference on “Building Growth into the Caribbean Sustainability Agenda—a Concerted Approach,” on Sep...

Tekniikka&Talous presents its Energy Initiative of the Year Award to Neste Oil's Lars Peter Lindfors
Posted On Sep 12 ,2013 - 09:16-PM | by admin

One of Finland's leading technology and business magazines, Tekniikka&Talous, announced on Thursday, 12 September that it has given its Energy Initiative of the Year Award to Lars Peter Lindfors, Nest...

Wood Group wins multiple contracts in India
Posted On Sep 11 ,2013 - 09:06-PM | by admin

Wood Group GTS has secured two contracts to supply its patented EcoValue gas turbine compressor water wash systems. The first order is for the supply of the EcoValue technology which will be commissio...

Shell begins negotiations with representatives of the Bodo community
Posted On Sep 10 ,2013 - 09:02-PM | by admin

Shell officials on Monday began talks in Port Harcourt with representatives for the Bodo community on compensation and cleanup five years after one of the worst oil spills in Nigeria's history. Alt...

Kidnappers, Pirates, Crude Oil Thieves threat to Oil and Gas operations
Posted On Sep 10 ,2013 - 09:32-PM | by admin

Crude oil theft and illegal oil bunkering in the Gulf of Guinea has become a major source of concern to the Federal Government of Nigeria. The Minister of Petroleum Resources, Mrs. Diezani Alison-...

Noble Energy to Present at UBS Houston Energy Symposium
Posted On Sep 10 ,2013 - 09:31-PM | by admin

Noble Energy, Inc. (NYSE:NBL) announced today that David L. Stover, the Company's President and COO, will present at the UBS Houston Energy Symposium on Wednesday, September 18, 2013 at 10:00 a.m. Cen...

Top Nigerian banks finance Dangote Refinery
Posted On Sep 10 ,2013 - 09:31-AM | by admin

Guaranty Trust Bank and Standard Chartered Bank led nine other local and international commercial banks in the provision of a loan facility to Dangote lndustries Ltd worth $3.3billion for the purpose ...

Russia's Gazprom entering Croatian NGV market
Posted On Sep 10 ,2013 - 09:37-AM | by admin

Led by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee the Company's delegation paid a visit to the Republic of Croatia. As part of the visit a meeting was held between Ale...

New Chief Operating Officer joins Dana Petroleum
Posted On Sep 09 ,2013 - 09:01-PM | by admin

Dana Petroleum has appointed Graham Scotton as the company’s first Chief Operating Officer, based in Aberdeen. Graham will report to the company’s Group Chief Executive Dr Marcus Richards and has...

Syria crisis affects oil prices
Posted On Sep 09 ,2013 - 09:13-PM | by admin

Light, sweet crude oil for October delivery on the New York Mercantile Exchange ended $2.16 higher at $110.53 a barrel. ICE Brent crude oil for October delivery settled 0.8%, or 86 cents, higher at $...

OPEC daily basket price stood at $112.10 a barrel Friday, 6 September 2013
Posted On Sep 09 ,2013 - 09:58-PM | by admin

The price of OPEC basket of twelve crudes stood at 112.10 dollars a barrel on Friday, compared with $111.47 the previous day, according to OPEC Secretariat calculations.

Shell to pay $1.1 million in fines to settle with EPA
Posted On Sep 06 ,2013 - 09:50-AM | by admin

The U.S. Environmental Protection Agency said that Shell agreed to pay more than $1 million in fines to settle claims that it violated air permits while drilling in the Arctic last year. The agenc...

Payment of N5.1bn in Dividends by Oando Plc
Posted On Sep 06 ,2013 - 09:12-AM | by admin

Oando Plc,announced it had concluded the payment of N5.1 billion dividend to shareholders for the year ended December 31, 2012. The company had posted a profit after tax of N10.9 billion for the y...

OML, 52, 53 and 55 - Buyer Beware
Posted On Sep 06 ,2013 - 09:12-AM | by admin

The Nigerian National Petroleum Corporation, NNPC, Thursday, said it will revoke the operating licenses of the three oil blocks put up for sale by Chevron Nigeria upon their acquisition by a new inves...

Noble Energy To Present At Barclays Capital CEO Energy Conference
Posted On Sep 06 ,2013 - 09:48-AM | by admin

Noble Energy, Inc. (NYSE:NBL) announced today that Charles D. Davidson, the Company's Chairman and CEO, will present at the Barclays Capital CEO Energy Conference on Thursday, September 12, 2013 at 7:...

Gasification and gas-fired power generation in Macedonia
Posted On Sep 06 ,2013 - 09:48-AM | by admin

South Stream construction to create conditions for developing gasification and gas-fired power generation in Macedonia Led by Alexey Miller, Chairman of the Gazprom Management Committee, the Comp...

Oil theft in Nigeria does not need military approach
Posted On Sep 05 ,2013 - 09:49-AM | by admin

“We are helpless, handicapped and ill-equipped. Other stakeholders look down at the Corps as if we are not supposed to be there. We arrest trucks but our personnel are imprisoned and beaten. We are ...

Fixed rate bond offering by Eni
Posted On Sep 05 ,2013 - 09:38-AM | by admin

Eni has mandated Banca IMI, Crédit Agricole CIB, Deutsche Bank, Goldman Sachs International and ING as Joint Bookrunners for its upcoming fixed rate Euro benchmark size 12 year bond offering under it...

PETRONAS showcasing their cutting edge strategy in Oil and Gas Malaysia's national petroleum corporation
Posted On Sep 04 ,2013 - 09:36-AM | by admin

PETRONAS will be showcasing their cutting edge strategy on the direction, development, issues and challenges in the global industry at the 2nd Annual Offshore Structure Asia from the 25th to 27th Nove...

Execution of debt capital market transactions by Statoil ASA
Posted On Sep 03 ,2013 - 09:11-PM | by admin

Statoil ASA (OSE: STL, NYSE: STO), guaranteed by Statoil Petroleum AS, executed the following debt capital market transactions: • Issue of EUR 850,000,000 2.000% Notes due September 10, 2020 ...

Wastage of oil resources, pollution from oil exploration activities and gas flaring in the Niger Delta, remains a concern for Nigeria - African Development Bank, AfDB
Posted On Sep 03 ,2013 - 09:43-AM | by admin

Nigerian oil and gas industry lacks transparency, accountability and good governance. Source:

Oil Pipeline vandalisation continues in Nigeria
Posted On Sep 03 ,2013 - 09:00-AM | by admin

According to Nigeria Extractive Industries Transparency Initiative NEITI, crude oil theft and sabotage are some of the many challenges facing Nigeria’s oil sector. This was highlighted in the rece...

2nd Annual Offshore Structure Asia
Posted On Sep 02 ,2013 - 09:22-PM | by admin

PETRONAS will be showcasing their cutting edge strategy on the direction, development, issues and challenges in the global industry at the 2nd Annual Offshore Structure Asia from the 25th to 27th Nove...

DOF Subsea Group announces awarded subsea installation contract in Asia Pacific by OMW
Posted On Sep 02 ,2013 - 09:30-PM | by admin

DOF Subsea Group has recently been awarded a contract by OMV New Zealand Ltd, for subsea installation services to the Maari Field, Raroa FPSO offshore Taranaki, New Zealand. The project, worth appr...

Eni CEOmeets with Iraqi Prime Minister Nuri Al-Maliki
Posted On Sep 02 ,2013 - 09:39-PM | by admin

Iraqi Prime Minister Nuri Al-Maliki and Eni’s CEO Paolo Scaroni met today in Baghdad to discuss Eni’s activities in the country. During the meeting, Mr Scaroni along with Claudio Descalzi, CO...

Olokola Liquefied Natural Gas Project (OKLNG)
Posted On Sep 02 ,2013 - 09:37-AM | by admin

Chevron, Shell's Withdrawal from OKLNG Will not derail Nigeria's Gas Agenda In a statement by the acting Group General Manager, Group Public Affairs Division of the NNPC, Tumini Green, the corporatio...

NPCC Led Consortium wins $1.6b ADMA-OPCO Umm Lulu Package 2
Posted On Sep 02 ,2013 - 09:01-AM | by admin

National Petroleum Construction Company (NPCC), in consortium with Technip France Abu Dhabi, has been awarded by Abu Dhabi Marine Operating Company (ADMA-OPCO), the contract for the EPC Work of Umm Lu...

Tullow Oil drilling update in Mozambique
Posted On Sep 02 ,2013 - 09:19-AM | by admin

Tullow Oil plc (Tullow) announces that the Buzio-1 exploration well in Area 2 offshore Mozambique has not encountered hydrocarbons and, following the completion of logging operations, has been plugged...

Transitioning Nigeria’s state owned electricity sector to a private power market
Posted On Sep 02 ,2013 - 09:30-AM | by admin

Energynet Ltd (http://www.energynet.co.uk) will be hosting the inaugural Power Investors Summit Nigeria, this coming 2 – 4 October 2013, at the Lagos Oriental Hotel, Victoria Island. This senior le...

Nigerian Air Force Joins on War Crude Oil Theft
Posted On Aug 30 ,2013 - 08:34-PM | by admin

The Nigerian Air Force is to join the war on crude theft by providing aerial surveillance support to the Nigerian Maritime Administrative and Safety Agency (NIMASA). The two organisations recently sig...

IMF Appoints New Resident Representative in Greece
Posted On Aug 30 ,2013 - 08:51-AM | by admin

Mr. Wes McGrew has been appointed IMF Resident Representative in Greece and will start his assignment on September 2, 2013. He replaces Mr. Bob Traa, whose three-year assignment ends this month. M...

Forte Oil Posts N1.4 Billion Half-year Profit
Posted On Aug 30 ,2013 - 08:54-AM | by admin

Forte Oil Plc announced a profit after tax of N1.39 billion for the half year-ended June 30, 2013, an increase of 63 per cent when compared to N855 billion earned in the corresponding period of 2012....

CNPC Chairman meets Petrobras President and CEO Maria das Graças Silva Foster
Posted On Aug 28 ,2013 - 08:32-PM | by admin

On August 23, CNPC Chairman Zhou Jiping met with Petrobras President and CEO Maria das Graças Silva Foster in Beijing. They exchanged views on promoting cooperation in development of Brazil’s deep ...

Transcorp completes purchase of Nigeria’s largest thermal power plant
Posted On Aug 28 ,2013 - 08:23-PM | by admin

Heirs Holdings $300m investment under Transcorp boosts US Power Africa initiative Transcorp completes purchase of Nigeria’s largest thermal power plant President Barack Obama’s $7 billion US-ba...

Nigeria’s actual crude oil loss to theft figures inaccurate
Posted On Aug 22 ,2013 - 08:44-PM | by admin

Members of the Oil Producers Trade Section (OPTS) have said the current figures bandied around as Nigeria’s daily crude oil loss to theft, owing to illegal bunkering activities in the Niger Delta re...

Anti-fracking demonstrations fizzle out in UK site
Posted On Aug 22 ,2013 - 08:49-PM | by admin

More than 1,200 activists had brought exploratory shale gas drilling to a halt on the edge of the village of Balcombe, West Sussex, at the weekend. By today there were fewer than 100 protesters lef...

EIA Expects Brent Prices to Decline through End of 2013 Despite Current Supply Disruptions
Posted On Aug 22 ,2013 - 08:33-AM | by admin

Disruptions to global crude oil and liquid fuels production reached nearly 2.7 million barrels per day (bbl/d) in July 2013 (Figure 1), the highest level since at least January 2009. During this same ...

NNPC urged to bury the pipelines
Posted On Aug 21 ,2013 - 08:03-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) and multinational oil companies operating in Nigeria’s oil and gas industry have been urged to bury the pipelines deeply underground, to make them ...

Total Abu Al Bukhoosh (Total ABK) donates to UAE Red Crescent Society
Posted On Aug 21 ,2013 - 08:24-PM | by admin

Total Abu Al Bukhoosh (Total ABK) has donated Dh100,000 to the UAE Red Crescent Society to support its charity and humanitarian projects. Amer Ali Al Shaikh, Total Abu Al Bukhoosh's general manage...

Aker Solutions wins contract for Johan Castberg floater study
Posted On Aug 21 ,2013 - 08:16-AM | by admin

Aker Solutions won a contract from Statoil to conduct an extended concept study for the floater for the Johan Castberg oilfield development in the Barents Sea. The contract, worth NOK 250 million, inc...

Songa Offshore SE gives notice of presentation / webcast of Q2 2013 report
Posted On Aug 20 ,2013 - 08:11-AM | by admin

Songa Offshore SE's Second Quarter 2013 report will be released prior to market opening on Monday 26 August 2013. A presentation will be held the same morning in Oslo. 1. Q2 2013 RESULTS PRESE...

Chevron Shortlists Preferred Bidders for Assets Sale
Posted On Aug 17 ,2013 - 08:06-PM | by admin

Chevron has chosen its preferred bidders in the race for the acquisition of its interests in Oil Mining Leases (OMLs) 52, 53 and 55. The sale of the assets was announced two months ago, followed b...

President of the Republic of Congo meets with Eni’s CEO
Posted On Aug 17 ,2013 - 08:54-PM | by admin

The President of the Republic of Congo, Denis Sassou Nguesso, and Eni’s CEO, Paolo Scaroni, met today in Djambala, in the Central region of Plateau, to discuss Eni’s ongoing activities and project...

Rosneft and SOCAR Sign Cooperation Agreement
Posted On Aug 16 ,2013 - 08:03-AM | by admin

Rosneft and State Oil Company of the Republic of Azerbaijan (SOCAR) executed the Cooperation Agreement. The document was signed by Rosneft President and Chairman of the Management Board Igor Sechin an...

Paolo Scaroni meets President Armando Guebuza of Mozambique
Posted On Aug 14 ,2013 - 08:30-AM | by admin

During the meeting, Paolo Scaroni, along with Claudio Descalzi, COO of Eni E&P, updated the President of the Republic on the progress of ongoing strategic projects. The President of the Republic o...

Saudi Arabia continues to account for the majority of regional polymers capacity in GCC
Posted On Aug 14 ,2013 - 08:57-AM | by admin

"The country’s commitment to expanding its natural gas infrastructure are enhancing its competitive advantage in the global petrochemical and plastic markets". The plastic industry in Middle Eas...

Anadarko to Present at Upcoming Oil & Gas Conference
Posted On Aug 12 ,2013 - 08:42-PM | by admin

Anadarko Petroleum Corporation (NYSE: APC) today announced that Vice President, Operations, Brad Holly, will present at EnerCom's The Oil & Gas Conference 2013 on Tuesday, Aug. 13, 2013, at 12:20 p.m....

OMV to recruit 1,600 new employees
Posted On Aug 12 ,2013 - 08:30-AM | by admin

OMV needs additional 1,600 experts by 2016 Growth in Exploration & Production to create new jobs International careers with exciting prospects OMV, the integrated, international oil and gas compa...

Petrobras confirms potential of Farfan area in Sergipe Basin
Posted On Aug 11 ,2013 - 08:04-PM | by admin

Petrobras, announces the results of the first extension well 3-SES-176D (3-BRSA-1178D-SES), informally known as Farfan 1, located in the BM-SEAL-11 concession area, block SEAL-M-426, in ultradeep wate...

David Cameron says drilling for shale gas should take place at more sites
Posted On Aug 09 ,2013 - 08:26-AM | by admin

David Cameron warned last night that Britain was ‘missing out big time’ on the benefits of fracking by not drilling at enough sites in the search for shale gas. The British Prime Minister said...

Nigerian economy may face credit crunch
Posted On Aug 08 ,2013 - 08:29-PM | by admin

The African Development Bank (AfDB) has warned that the Nigerian economy may face credit crunch in months ahead as the country’s crude oil production declined further by 150,000 barrels per day (bpd...

Aggreko Secures 50 MW Interim Power Project in Guinea
Posted On Aug 08 ,2013 - 08:02-PM | by admin

Aggreko (http://www.aggreko.com), the world leader in the provision of temporary power and temperature control services has signed contracts with Electricité de Guinée (EDG) to deliver a 50 MW tempo...

CME Group Inc. Declares Quarterly Dividend
Posted On Aug 08 ,2013 - 08:43-AM | by admin

CME Group, today declared a third-quarter dividend of $0.45 per share, payable September 25, 2013, to shareholders of record September 10, 2013. ...

Discovery of new oil accumulation in Santos Basin pre-salt
Posted On Aug 08 ,2013 - 08:48-AM | by admin

Petrobras announces it has confirmed the presence of oil in well 3-SPS-101 (3-BRSA-1179-SPS), in the Carioca Discovery Evaluation Plan area, block BM-S-9, Santos Basin pre-salt. The well, informally r...

DHL delivers light to Ethiopia and South Africa
Posted On Aug 07 ,2013 - 08:29-AM | by admin

DHL Express is supporting Little Sun by moving 4,000 lamps to Ethiopia and South Africa from Germany as part of Deutsche Post DHL’s activities around the United Nations World Environment Day DHL,...

Petrobras Second Quarter 2013 Results
Posted On Aug 06 ,2013 - 08:18-PM | by admin

Petrobras announces that it will disclose 2nd quarter 2013 results on Friday, August 9th, 2013, after market closing. The company would like to invite investors and analysts for the conference call/w...

Nigerian oil sector under siege
Posted On Aug 05 ,2013 - 08:18-AM | by admin

Approximately $10.9 billion in potential revenue lost in three years Analysis International oil companies including Shell and Chevron Corp. are shifting their efforts from land-based operations to...

Hays Oil & Gas Global Job Index rebounds in the second quarter of 2013
Posted On Aug 02 ,2013 - 08:10-PM | by admin

The Hays Oil & Gas Global Job Index for the second quarter of 2013 showed a stable or slightly stronger oil and gas labour market around the world when compared to the beginning of the year. The I...

Cairn in farm down agreement with ConocoPhillips
Posted On Aug 02 ,2013 - 08:12-AM | by admin

Cairn announced it has entered into a farm down agreement with ConocoPhillips for three contiguous blocks located offshore Senegal, West Africa. Under the terms of the agreement, which is subject t...

Apache's Latest Horizontal Well At North Sea Bacchus Field Pushes Field Production To 17,600 Barrels Per Day
Posted On Aug 01 ,2013 - 08:44-PM | by admin

Apache Corporation (NYSE, Nasdaq: APA) said today that the third well in the Bacchus Field in the United Kingdom sector of the North Sea has pushed field production past 17,600 barrels of oil per day....

Hans-Joachim Polk named new Managing Director of RWE Dea UK
Posted On Aug 01 ,2013 - 08:01-PM | by admin

As of today, Hans-Joachim Polk is the new Managing Director of RWE Dea UK. Polk joined RWE Dea AG as early as late 1991, immediately after earning his Master's degree in crude oil and natural gas expl...

Chevron Announces Quarterly Dividend
Posted On Aug 01 ,2013 - 08:20-AM | by admin

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar ($1.00) per share, payable September 10, 2013, to holders of common stock as shown on the tr...

George P. Mitchell “the Father of Shale” passes on aged 94
Posted On Jul 31 ,2013 - 07:40-PM | by admin

Unlocked shale gas revolution He was a pioneer in hydraulic fracturing and transformed the natural gas industry. He spent more than 20 years of his life, investing millions of dollars, trying t...

Lukoil to shift headquarters to Dubai
Posted On Jul 31 ,2013 - 07:24-PM | by admin

Lukoil has announced that it is moving its international headquarters from Moscow to Dubai A company spokesperson in Moscow said that the move would begin within weeks and would be completed by the...

Petróleo Brasileiro S.A Second Quarter 2013 results
Posted On Jul 31 ,2013 - 07:43-PM | by admin

Petrobras will release the Second Quarter 2013 results, in accordance with International Financial Reporting Standards (IFRS), on August 09, 2013, after market's closing and will discuss the results, ...

UK energy minister gets serious on quest for shale gas
Posted On Jul 31 ,2013 - 07:41-PM | by admin

The south-east will have to accept fracking for shale gas just as much as the north of England, Michael Fallon, the energy minister, has suggested. “It cannot be right to confine it to areas of the ...

Deepwater Horizon disaster update
Posted On Jul 31 ,2013 - 07:05-PM | by admin

BP's Bob Dudley has revealed that the $20 billion (£13bn) or so trust fund set up to pay damages to businesses and individuals affected by the oil spill has just $305 million or £197 million left. T...

African Petroleum releases quarter ended 30 June 2013 reports
Posted On Jul 31 ,2013 - 07:47-AM | by admin

CORPORATE Highlights: Approximately US$ 12.4 million cash at bank at 30 June 2013  In addition, approximately US$ 22.5 million restricted cash at 30 June 2013, being security deposits that will...

OPEC daily basket price stood at $105.21 a barrel Monday, 29 July 2013
Posted On Jul 30 ,2013 - 07:58-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.21 dollars a barrel on Monday, compared with $105.10 the previous Friday, according to OPEC Secretariat calculations . Email:

ExxonMobil Second Quarter Earnings Conference Call
Posted On Jul 29 ,2013 - 07:42-PM | by admin

ExxonMobil will release its second quarter earnings on Thursday, August 1, 2013. A news release will be issued over Business Wire. Reporters can listen to a conference call with David Rosenthal, v...

Oil payments for 315 subway cars
Posted On Jul 29 ,2013 - 07:24-PM | by admin

A senior Iranian official says the country has ordered from China in place of payment for oil that can't be transferred due to sanctions. Amir Jafarpour, a senior Iranian official who is deputy h...

$2.5 billion Myanmar-China gas pipeline opened
Posted On Jul 29 ,2013 - 07:13-PM | by admin

China National Petroleum said that its Myanmar-China natural gas pipeline has started formal operations. CNPC said an official ceremony to mark the start of the gas pipeline was held in Mandalay, ...

CNPC Announces the Closure of Share Purchase Agreement with Eni
Posted On Jul 29 ,2013 - 07:14-PM | by admin

CNPC is pleased to announce that CNPC and Eni S.p.a. have closed their previously announced transaction which will see CNPC acquire shares of Eni East African. All conditions precedent requiring gover...

South Sudan fuel supply agreement signed with Trafigura
Posted On Jul 29 ,2013 - 07:58-AM | by admin

The Government of South Sudan has signed a fuel supply agreement with Trafigura Pte Ltd. Under the agreement, signed on 7th March, Trafigura will purchase Dar Blend crude oil from the Republic of S...

Gas Natural Fenosa and Repsol sign two gas supply agreements
Posted On Jul 29 ,2013 - 07:01-AM | by admin

Gas Natural Fenosa and Repsol have signed two medium- and long-term gas supply agreements. The first agreement is for the supply to Repsol of 2 billion cubic metres of gas a year between 2015 and 2...

OPEC daily basket price stood at $105.95 a barrel Tuesday, 23 July 2013
Posted On Jul 24 ,2013 - 07:36-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.95 dollars a barrel on Tuesday, compared with $106.14 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference Ba...

Noble Energy Declares Quarterly Dividend
Posted On Jul 23 ,2013 - 07:12-PM | by admin

Noble Energy, Inc.'s (NYSE: NBL) Board of Directors today declared a quarterly cash dividend of 14 cents per common share payable on August 19, 2013 to the shareholders of record on August 5, 2013. ...

BP’s request to stop oil spill payments rebuffed
Posted On Jul 23 ,2013 - 07:45-AM | by admin

U.S. District Judge Carl Barbier in New Orleans said BP’s personal attacks on claims administrator Patrick Juneau have been “offensive,” and he especially noted that he didn’t care for comment...

First there was 'blood diamonds' now there is 'blood crude'
Posted On Jul 23 ,2013 - 07:14-AM | by admin

The Nigerian Minister of State for Defence Erelu Olusola Obada has reportedly challenged the UK and other international communities to help Nigeria curtail the growing incidence of crude oil theft in ...

OPEC net oil export revenues, Saudi Arabia earned $311 billion in 2012
Posted On Jul 23 ,2013 - 07:57-AM | by admin

EIA estimates that Organization of the Petroleum Exporting Countries (OPEC), not including Iran, earned about $982 billion in net oil export revenues in 2012, a 5-percent increase from 2011, and the l...

Oil Producers Trade Section (OPTS) express views on the proposed Petroleum Industry Bill (PIB) in Nigeria
Posted On Jul 19 ,2013 - 07:04-AM | by admin

International and local oil companies under the aegis of Oil Producers Trade Section (OPTS) on Thursday stoutly opposed the passage of the Petroleum Industry Bill (PIB) at the opening session of a two...

UK gearing up to start fracking revolution
Posted On Jul 19 ,2013 - 07:45-AM | by admin

The Chancellor, George Osborne will launch a shale gas allowance based on oil production tax breaks and encourage new tax regime with the aims to create investment in shale gas of £14billion a year. ...

Shale oil revolution - A serious threat to Nigeria and OPEC members
Posted On Jul 18 ,2013 - 07:57-AM | by admin

The US shale oil revolution is reportedly set to take a huge toll on Nigeria’s economy. The Organisation of Petroleum Exporting Countries (OPEC) predicted recently that the world would need less...

OPEC daily basket price stood at $105.39 a barrel Tuesday, 16 July 2013
Posted On Jul 17 ,2013 - 07:33-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.39 dollars a barrel on Tuesday, compared with $105.31 the previous day, according to OPEC Secretariat calculations . (View Archives). The new...

Anadarko Schedules Second-Quarter 2013 Earnings Conference Call for July 30
Posted On Jul 17 ,2013 - 07:46-AM | by admin

Anadarko Petroleum Corporation (NYSE: APC) will host a conference call on Tuesday, July 30, 2013, at 8 a.m. CDT (9 a.m. EDT) to discuss its second-quarter 2013 financial and operating results. Earning...

Russia and Algeria discuss bilateral cooperation in energy sector
Posted On Jul 17 ,2013 - 07:35-AM | by admin

Viktor Zubkov, Russian Special Presidential Representative for Cooperation with Gas Exporting Countries Forum, Chairman of the Gazprom Board of Directors and Smail Chergui, Ambassador Extraordinary an...

Africa Hydrocarbons Reaches TD on BHN-1 Well in Tunisia
Posted On Jul 17 ,2013 - 07:00-AM | by admin

Africa Hydrocarbons Inc. today announced that a total depth of 2745 metres has been reached at the Company's BHN-1 exploration well on the Bouhajla Permit in Tunisia. Preparation to run wire-line logs...

New rig assignment date for Oyo #7 well
Posted On Jul 17 ,2013 - 07:29-AM | by admin

CAMAC Energy Inc. today announced that Allied Energy PLC ("Allied") has received notification of the new proposed assignment date of the Sedneth 701 rig under its previously announced Deed of Assignme...

Nigeria's Biggest Crude Oil Buyer
Posted On Jul 16 ,2013 - 07:15-PM | by admin

Indian High Commissioner to Nigeria, Mahesh Sachdev, said recent statistics had shown that India had been buying more of Nigeria's crude than the US over the last three months. “India will cont...

Gazprom and Shell discuss bilateral cooperation in oil and gas sector
Posted On Jul 13 ,2013 - 07:21-PM | by admin

Gazprom and Shell look into possibility of joint activities as part of Russian Arctic shelf development A working meeting took place today between Alexey Miller, Chairman of the Gazprom Managemen...

UAE participates in World Energy Forum 2013 in Daegu, Korea
Posted On Jul 11 ,2013 - 07:04-PM | by admin

The UAE is to participate in the 22nd World Energy Congress, which will be held in Daegu, South Korea, from 13th to 17th of October, 2013. The Higher Organising Committee of the Conference said th...

Eni CEO Paolo Scaroni meets President of Cyprus Nicos Anastasiades
Posted On Jul 11 ,2013 - 07:13-PM | by admin

Eni has an 80% participating interest in Blocks 2, 3 and 9 located in the Cypriot deep offshore portion of the Levantine basin. The President of the Republic of Cyprus, Nicos Anastasiades, and Eni...

OPEC daily basket price stood at $104.69 a barrel Wednesday, 10 July 2013
Posted On Jul 11 ,2013 - 07:56-PM | by admin

The price of OPEC basket of twelve crudes stood at 104.69 dollars a barrel on Wednesday, compared with $104.06 the previous day, according to OPEC Secretariat calculations . The new OPEC Referen...

Petrobras adopts Hedge Accounting
Posted On Jul 11 ,2013 - 07:31-AM | by admin

Petrobras announces that, as of mid-May 2013, it began applying the practice known as Hedge Accounting to its exports. This practice, which is regulated in Brazil by means of accounting pronounceme...

Statoil completes Algeria investigation interviews
Posted On Jul 10 ,2013 - 07:06-AM | by admin

Since it was established on 26 February, the investigation has conducted more than 120 interviews with Statoil employees, partners in the joint venture, government representatives and other relevant s...

Arab Gas Pipeline Attacked
Posted On Jul 10 ,2013 - 07:36-AM | by admin

According to Egyptian security officials, suspected Islamic militants bombed the pipeline just south of the city of el-Arish in the Sinai Peninsula. The attacks occurred early on the morning of Ju...

Nigeria loses $4.9m to gas flare daily
Posted On Jul 10 ,2013 - 07:30-AM | by admin

Nigeria incurs daily loss of $4.9million due to gas flared by oil and gas companies in the country, Director of Department of Petroleum Resources(DPR), Engineer Osahon has said. He said the country...

In Nigeria NLNG,NIMASA Blockade Continues
Posted On Jul 10 ,2013 - 07:04-AM | by admin

The blockade to Nigeria’s NLNG ships is still ongoing, despite a court order to end it. A Nigerian federal court once again issued an order for the maritime security agency to end a blockade which i...

BP appeals to US court against inflated Deepwater Horizon spill claims
Posted On Jul 09 ,2013 - 07:25-PM | by admin

BP has appealed to a US court to stop 'fictitious' compensation claims stemming from the Gulf of Mexico oil spill in 2010, which killed 11 people and caused serious environmental disaster in the US. ...

UAE offers a grant of $ 1 billion and $ 2 billion no-interest loan to Egypt
Posted On Jul 09 ,2013 - 07:16-PM | by admin

The UAE has offered a grant of US$ 1 billion and a further US$ 2 billion no-interest loan to Egypt in the form of a no-interest deposit with the Central Bank of Egypt. The UAE announcement of the ...

Cuadrilla updates its Lancashire exploration programme
Posted On Jul 09 ,2013 - 07:32-PM | by admin

Cuadrilla has announced that it intends to apply for planning consent to hydraulically fracture and test the shale at its existing exploration well at Grange Hill. It has also announced that it intend...

Nigeria has secured a $1.1 billion Chinese low-interest loan
Posted On Jul 09 ,2013 - 07:05-AM | by admin

Nigeria has secured a $1.1 billion Chinese low-interest loan to develop airports and hydro power plants, Finance Minister Dr. Ngozi Okonjo-Iweala said yesterday. Mrs. Okonjo-Iweala said the loan are ...

Nigeria’s revenue drops
Posted On Jul 09 ,2013 - 07:59-AM | by admin

THE total amount of revenue generated by the Federal Government declined by 14.7 per cent to N805.91 billion in April. Oil receipts, which was 77.1 per cent of the total revenue, was below the prov...

Strategic Alliance with Geoscience Group P.D.F Limited
Posted On Jul 08 ,2013 - 07:01-AM | by admin

Tower Resources plc ("Tower", "TRP" or the "Company") (TRP.L, TRP LN), the AIM listed Africa focussed oil & gas company, is very pleased to announce it is entering into a long term strategic partnersh...

Technip to release Second Quarter 2013 results on July 25, 2013
Posted On Jul 08 ,2013 - 07:31-AM | by admin

Technip will publish its Second Quarter 2013 results on Thursday, July 25, 2013 at 7:00 a.m. CET. The press release and slide presentation will be available from our website:

Train carrying crude oil derail and explode in Quebec
Posted On Jul 06 ,2013 - 07:19-PM | by admin

A large swath of a town in eastern Quebec was destroyed Saturday after a train carrying crude oil derailed, sparking several explosions and forcing the evacuation of up to 1,000 people. The center of ...

Obiang urges gas exporting countries to reduce emissions
Posted On Jul 05 ,2013 - 07:02-AM | by admin

President Obiang of Equatorial Guinea encouraged gas-exporting countries to join Equatorial Guinea in working to reduce carbon dioxide emissions (CO2) from the burning of gas in oil production. He ...

Gulf of Mexico Success at Shell’s Vicksburg “A” Well
Posted On Jul 04 ,2013 - 07:20-PM | by admin

Shell announced a successful exploratory well at Vicksburg in the deep-water Gulf of Mexico. The well is located 75 miles (120 kilometers) offshore in the Mississippi Canyon Block 393 in 7,446 feet (2...

Nigerian president to lead delegation to China for investment talks
Posted On Jul 04 ,2013 - 07:39-PM | by admin

Nigerian President Goodluck Jonathan will lead high-powered officials on a five-day state visit to China next Monday, to meet with leaders and captains of industries in the east Asian nation, accordin...

Indonesia plans to reduce the number of permits
Posted On Jul 04 ,2013 - 07:41-PM | by admin

Indonesia to simplify licensing process in oil, gas sector The Indonesian government plans to reduce the number of permits that investors must obtain to conduct activity in upstream of oil and gas...

Eni successfully launched fixed rate Bond
Posted On Jul 03 ,2013 - 07:24-PM | by admin

The bond will be listed on the Luxembourg Stock Exchange. The notes were bought by institutional investors mainly in France, Germany, United Kingdom and Italy. San Donato Milanese (Milan), 2 July...

Chevron Second Quarter 2013 Earnings Conference Call
Posted On Jul 03 ,2013 - 07:38-PM | by admin

Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, August 2, 2013, at 11:00 a.m. ET (8:00 a.m. PT). Conference...

Petrobras sets new refinery production record
Posted On Jul 03 ,2013 - 07:43-PM | by admin

Petróleo Brasileiro S.A. – Petrobras announces that on June 29th and 30th established a production record of 2.2 million barrels/day of oil at its refineries. This volume is 30,000 barrels more tha...

Oil discovery offshore Nigeria on the OPL 310
Posted On Jun 30 ,2013 - 06:07-PM | by admin

Lekoil announced that the high impact Ogo-1 well located on the OPL 310 licence offshore Nigeria has discovered a significant light oil accumulation, based on the results of drilling and wireline log...

CB&I announces pipe fabrication contract in Australia
Posted On Jun 30 ,2013 - 06:04-PM | by admin

CB&I (NYSE: CBI) announced it has been awarded a contract valued in excess of $40 million. The scope of work includes pipe fabrication for a major liquefied natural gas project in Australia, which wil...

Abadi LNG Project, the Masela Block, Indonesia
Posted On Jun 30 ,2013 - 06:41-PM | by admin

INPEX Corporation (INPEX) is announced that its affiliate INPEX Masela, Ltd. and Shell Upstream Overseas Services (I) Limited, a subsidiary of Royal Dutch Shell plc (Shell), have completed the necessa...

Kurdistan Region's Ministry of Natural Resources announces key milestone for the Shaikan oilfield
Posted On Jun 28 ,2013 - 06:12-AM | by admin

Erbil, Kurdistan Region, Iraq - The Kurdistan Regional Government's Ministry of Natural Resources is pleased to announce that it has today approved the field development plan for the Shaikan block, op...

Option for additional wells with Dolphin Drilling AS
Posted On Jun 28 ,2013 - 06:49-AM | by admin

An AGR coordinated group of four oil companies has exercised the option for four additional wells with Dolphin Drilling AS, a subsidiary of Fred. Olsen Energy ASA, for use of the semi-submersible dril...

African Petroleum's Intention to seek a Listing on the ASX
Posted On Jun 28 ,2013 - 06:03-AM | by admin

The Board of African Petroleum Corporation Limited (NSX:AOQ) (“African Petroleum” or the “Company”) is pleased to announce that African Petroleum intends to seek a listing on the official list...

Nigerian Liquefied Natural Gas Company Limited (NLNG) money woes
Posted On Jun 27 ,2013 - 06:02-PM | by admin

THE Nigerian Liquefied Natural Gas Company Limited (NLNG) which was last week blocked from exporting gas as a result of N25 billion debt owed the Nigerian Maritime Administration and Safety Agency (NI...

BP gets set to fuel the Glasgow 2014 Commonwealth Games
Posted On Jun 25 ,2013 - 06:13-PM | by admin

BP, one of the world's leading international oil and gas companies, can be revealed as the latest Official Partner for the Glasgow 2014 Commonwealth Games. The company will also become an Official ...

Russian gas supply prices for 2013
Posted On Jun 25 ,2013 - 06:22-PM | by admin

Eni and Gazprom reached an agreement for the reduction of Russian gas supply prices for 2013. During a meeting between Gazprom CEO Alexey Miller and Eni CEO Paolo Scaroni, held today on the sideli...

Russia's gamechanger oil deal with China
Posted On Jun 25 ,2013 - 06:16-AM | by admin

Russia and China have agreed the biggest oil deals ever. The deal reportedly commits Rosneft to supply 300,000 barrels per day to China for 25 years. It was put together by Mr Igor Sechin, Rosneft's c...

Nigerian Gas Corporation operations affected by vandalised gas pipelines
Posted On Jun 25 ,2013 - 06:08-AM | by admin

There has been a drastic reduction of power supply by 1,598 megawatts, causing massive load shedding nationwide. The Transmission Company of Nigeria (TCN) in a statement signed by the company’s G...

Afren Oil discloses exploration success with discoveries in Nigeria, Iraq
Posted On Jun 25 ,2013 - 06:21-AM | by admin

fren Oil said it has achieved significant exploration success with its discoveries in Nigeria and Iraq, despite the security and political stability concerns of both regions. The Chairman of the Co...

Alexey Miller and Michael Fallon address possibility of boosting Russian gas supplies to UK
Posted On Jun 25 ,2013 - 06:29-AM | by admin

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Michael Fallon, Business and Energy Minister of the UK took place today as part of the St. Petersburg Internat...

Gazprom to build LNG plant onshore Gulf of Finland
Posted On Jun 25 ,2013 - 06:35-AM | by admin

Alexey Miller, Chairman of the Gazprom Management Committee and Alexander Drozdenko, Governor of the Leningrad Region signed today a Memorandum of Understanding and Cooperation with regard to a liquef...

Russian gas supplies to China to be priced without linkage to Henry Hub
Posted On Jun 20 ,2013 - 06:51-PM | by admin

The Gazprom headquarters hosted yesterday evening a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Zhou Jiping, President of China National Petroleum Corpora...

UAE's oil and gas industry strengthens national economy
Posted On Jun 20 ,2013 - 06:40-PM | by admin

The UAE planned to increase its crude oil production capacity to 3.5 million barrels per day (bpd) by 2017 to contribute to the stability of global markets and to ensure long-term obligations with con...

Tethys Petroleum Limited announces Kazakhstan forward work programme
Posted On Jun 20 ,2013 - 06:10-PM | by admin

Tethys Petroleum Limited ("Tethys") (TSX:TPL)(LSE:TPL), the oil and gas exploration and production company focused on Central Asia, today announced its work programme in Kazakhstan for the second half...

Recoverable Shale Oil and Shale Gas Resources
Posted On Jun 20 ,2013 - 06:32-AM | by admin

EIA estimates global technically recoverable shale oil resources of 345 billion barrels In the recently released report on Technically Recoverable Shale Oil and Shale Gas Resources, covering 42 cou...

OPEC daily basket price stood at $103.85 a barrel Monday, 17 June 2013
Posted On Jun 18 ,2013 - 06:36-PM | by admin

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuw...

Gazprom and Republika Srpska sign Roadmap on South Stream project
Posted On Jun 18 ,2013 - 06:18-AM | by admin

In Banja Luka (Republika Srpska, Bosnia and Herzegovina) Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Milorad Dodik, President of Republika Srpska signed a Roadmap to im...

Noble Energy To Present At The GHS 100 Energy Conference
Posted On Jun 14 ,2013 - 06:11-AM | by admin

Noble Energy, Inc. (NYSE: NBL) announced today that Kenneth M. Fisher, the Company's Senior Vice President and CFO, will present at the Global Hunter Securities 100 Energy Conference on Wednesday, Jun...

RWE Dea expands Exploration Portfolio with Farm-In in Suriname
Posted On Jun 12 ,2013 - 06:46-PM | by admin

RWE Dea has signed a farm-in agreement with PETRONAS Suriname E&P BV (“PETRONAS Suriname”), acquiring a 40% interest in the licence Block 52 off the coast of Suriname. In doing so, RWE Dea will se...

Framework agreement on integrated upstream-downstream cooperation signed between CNPC and Ecuadorian authorities
Posted On Jun 11 ,2013 - 06:29-PM | by admin

CNPC Chairman Zhou Jiping called on Ecuadorian Vice President Jorge Glas in Quito, Capital City of the South American country. They had an extensive and in-depth discussion on promoting oil and gas co...

UAE picks Excelerate Energy to build LNG terminal
Posted On Jun 11 ,2013 - 06:48-PM | by admin

Facility at Fujairah is expected to have an annual import capacity of 9m tons of LNG US-based Excelerate Energy has won a contract to build a liquefied natural gas (LNG) import terminal in the UAE,...

Ibile Oil and Gas Corporation, Lagos State
Posted On Jun 11 ,2013 - 06:35-AM | by admin

The Lagos State House of Assembly passed into law a bill to establish Ibile Oil and Gas Corporation to invest and engage in oil and gas activities in the state and for connected purposes. Accordin...

South Sudan orders oil-production halt
Posted On Jun 11 ,2013 - 06:43-AM | by admin

South Sudan has said it ordered the halt of oil production that provides some 98 percent of its revenue, amid a deepening dispute with the Sudanese government over pipeline fees. Sudan admits to t...

India promises developmental aid to Myanmar
Posted On Jun 07 ,2013 - 06:28-PM | by admin

India on Thursday pledged developmental aid to Myanmar, terming the country as a "vitally important neighbor". Minister of Commerce, Industry and Textiles Anand Sharma made the pledge during a mee...

Qatari investment targets Australian oil, gas
Posted On Jun 07 ,2013 - 06:03-PM | by admin

Australian engineering services contractor Bothar Boring and Tunnelling on Friday announced a new engineering, infrastructure and tunneling company following significant investment from Qatar-based Pe...

Exxon Mobil Farms in to Atlantic Petroleum’s Interest in Faroes Block L016
Posted On Jun 07 ,2013 - 06:37-PM | by admin

P/F Atlantic Petroleum announces that Exxon Mobil Exploration and Production Faroe Islands Limited has acquired a 6% interest in Licence L016 from Atlantic Petroleum. The revised ownership interests i...

Centrica is reportedly negotiating over new drilling rights in Lancashire’s Bowland Shale
Posted On Jun 07 ,2013 - 06:18-PM | by admin

British Gas owner Centrica is reportedly negotiating over new drilling rights in Lancashire, with a view to getting a head start in the shale gas revolution. It is said to be in talks with explorat...

'Azeri Light' crude oil sold to 33 countries
Posted On Jun 05 ,2013 - 06:54-PM | by admin

SOCAR (State Oil Company of Azerbaijan) exports 'Azeri Light' crude oil to 33 countries, the head of SOCAR, Rovnag Abdullayev said on Wednesday during the conference 'Caspian Oil and Gas 2013'. Acc...

Jascon-4 accident latest, Ten bodies found
Posted On Jun 03 ,2013 - 06:33-AM | by admin

Ten bodies have been found during a rescue operation off the coast of Nigeria after a tugboat contracted by Chevron sank on Sunday in rough seas, the vessel's owner said on Friday. The Jascon-4 cap...

OPEC daily basket price stood at $98.78 a barrel Friday, 31 May 2013
Posted On Jun 03 ,2013 - 06:46-AM | by admin

The price of OPEC basket of twelve crudes stood at 98.78 dollars a barrel on Friday, compared with $99.77 the previous day, according to OPEC Secretariat calculations . (View Archives). The new OP...

MENA Shale 2013
Posted On Jun 03 ,2013 - 06:42-AM | by admin

The Shale Revolution Will Shape Future Energy Strategy in the MENA Region Euro Petroleum Consultants has officially announced an important high-level event dedicated to Unconventional Gas for the Mid...

N965bn lost annually to oil theft in Nigeria according to Shell
Posted On Jun 02 ,2013 - 06:32-PM | by admin

The Shell Petroleum Development Company has raised the alarm that Nigeria loses $6.1bn (N965bn) annually to oil theft. It warned that the negative impact of pipeline vandalisation, oil theft and ille...

4th Tanzania Offshore Licensing Round
Posted On May 31 ,2013 - 05:59-PM | by admin

The 4th Tanzania Offshore Licensing Round that was delayed in September 2012 will now be launched on 25th October 2013 during the 2nd Tanzania Oil and Gas Conference and Exhibition that will be held f...

Tug boat accident Update
Posted On May 31 ,2013 - 05:51-PM | by admin

The cook onboard a Chevron-chartered offshore vessel which capsized off Nigeria on Sunday has been found alive. The search continues, however, for 11 other crew members who were onboard the Jascon 4 ...

Eni Board of Directors approves bond issue
Posted On May 31 ,2013 - 05:11-AM | by admin

Eni's Board of Directors this afternoon approved the possible issue of one or more bonds, to be placed with institutional investors, with a value of up to a maximum amount of 3 billion euro, or its eq...

Shale gas revolution in the United States is fast transforming the world’s energy landscape
Posted On May 30 ,2013 - 05:32-AM | by admin

Is Europe getting left behind? Natural gas extracted from dense shale rock formations has become the fastest-growing source of gas in the United States and could become a significant new global energ...

OPEC daily basket price Tuesday, 28 May 2013
Posted On May 30 ,2013 - 05:53-AM | by admin

The price of OPEC basket of twelve crudes stood at 101.11 dollars a barrel on Tuesday, compared with $99.56 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference Ba...

Tug boat sinks, 12 still missing
Posted On May 29 ,2013 - 05:25-PM | by admin

Three days after a tug boat contracted by Chevron Nigeria Limited sank off the coast of Delta State, 12 crewmembers are still missing, according to West African Ventures, owners of the vessel. The ...

Fred. Olsen Energy ASA
Posted On May 28 ,2013 - 05:12-PM | by admin

The Annual General Meeting of Fred. Olsen Energy ASA was held today, Tuesday 28 May 2013. All proposals on the agenda were adopted in accordance with the agenda for the Annual General Meeting which wa...

CNPC President pays a visit to Myanmar’s President U Thein Sein
Posted On May 28 ,2013 - 05:51-AM | by admin

CNPC President Liao Yongyuan paid a visit to President of Myanmar, Thein Sein, in the capital city of Naypyidaw. They had an in-depth and friendly discussion on promoting CNPC’s oil and gas projects...

OPEC daily basket price stood at $99.15 a barrel Friday, 24 May 2013
Posted On May 27 ,2013 - 05:32-PM | by admin

The price of OPEC basket of twelve crudes stood at 99.15 dollars a barrel on Friday, compared with $99.03 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference Bas...

NNPC to build gas city in Delta
Posted On May 24 ,2013 - 05:07-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) is set to build the largest Africa’s gas city in Ogidigben, Delta. Dr. David Ige, the NNPC Group Executive Director, Gas and Power, made this kn...

OPEC basket Wednesday, 22nd
Posted On May 24 ,2013 - 05:10-PM | by admin

The price of OPEC basket of twelve crudes stood at $100.36 a barrel on Wednesday, compared with $101.39 the previous day, according to OPEC Secretariat calculations. The OPEC daily basket remains unde...

Payment of Interest on Own Capital by Petrobras
Posted On May 24 ,2013 - 05:16-AM | by admin

Petrobras announces it will pay the 2nd installment of remuneration to shareholders related to fiscal year 2012 on May 27th, 2013. The third and last installment will be paid on August 30th, 2013. Pay...

Nigeria’s Oil savings account dips to $5.87b
Posted On May 22 ,2013 - 05:40-PM | by admin

From $9 billion in December last year, Nigeria has used up 35 percent of its oil savings so far this year, leaving it with $5.87 billion. This was contained in data released yesterday by the office...

'Nigeria’s dependence on oil is a disaster'
Posted On May 22 ,2013 - 05:50-PM | by admin

Minister of Agriculture Akinwunmi Adesina, has said Nigeria’s dependence on oil is a disaster to the country’s economic growth. He said due to the development, successive administrations in ...

Russian–Greek cooperation in gas sector
Posted On May 21 ,2013 - 05:37-PM | by admin

Alexey Miller, Chairman of the Gazprom Management Committee, and the Company's delegation paid a visit today to the Greek Republic. A working meeting between Alexey Miller and Antonis Samaras, Greek ...

Gazprom and Serbia press forward with South Stream
Posted On May 21 ,2013 - 05:17-PM | by admin

Sochi hosted a working meeting among Alexey Miller Chairman of the Gazprom Management Committee, Milan Bacevic, Minister of Natural Resources, Mining and Spatial Planning of the Republic of Serbia and...

Tullow Oil exploration film
Posted On May 17 ,2013 - 05:14-AM | by admin

Tullow Oil is pleased to announce the launch of its new exploration film, Finding The Prize. In the past, prospectors used to drill anywhere they imagined oil might be hidden. Today's geoscientist...

SPDC declares force majeure on gas supplies to NLNG
Posted On May 16 ,2013 - 05:03-PM | by admin

Shell Petroleum Development Company Limited (“SPDC”) has declared force majeure on gas supplies to Nigeria LNG, effective 09:00 hrs (Nigerian time) on Wednesday, May 15 2013. This action is du...

RWE Dea receives Silver Award at World Media Festival
Posted On May 16 ,2013 - 05:19-AM | by admin

RWE Dea AG won the Silver Award at this year’s World Media Festival for the documentary “North Sea Gold”. The film realised by Steinlein & Partner Film produktion last year, documents life and w...

NUPENG urges govt to use technology to fight against crude oil theft
Posted On May 15 ,2013 - 05:32-AM | by admin

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on the Federal government to fast-track the fight against pipeline vandalism and oil theft. “The union wants the Federal...

Oil blocks to be put up for sale by Equatorial Guinea
Posted On May 15 ,2013 - 05:01-AM | by admin

Equatorial Guinea has confirmed that it will make announcements on the next oil blocks to be put up for sale at the annual EG Gas Conference in Malabo in June 2013 The country had recently formally...

Opec monthly oil market report May 2013
Posted On May 14 ,2013 - 05:56-PM | by admin

The OPEC Reference Basket dropped for the second-consecutive month in April, declining by $5.39 or more than 5% to stand at $101.05/b. Year-to-date, the Basket declined by $10.22 or 8.7% from the same...

Shell supports Nigerian aviation company, Caverton to upgrade helicopter fleet
Posted On May 14 ,2013 - 05:24-PM | by admin

Shell companies in Nigeria have supported an indigenous company, Caverton Helicopters, to upgrade its fleet with more advanced aircraft, the AW 139. By providing a loan of $85 million, Shell Nigeria e...

Lebanon’s offshore reserves
Posted On May 14 ,2013 - 05:32-PM | by admin

Speaking at the Arab Economic Forum, The Lebanese energy minister Gebrane Bassil said that scanning was now complete on 70 per cent of the country’s territorial waters covering an area of around 15,...

Only in Nigeria- Oil thieves want amnesty!!
Posted On May 14 ,2013 - 05:36-AM | by admin

The punch newspaper reported there were indications on Monday that pipeline vandals, operators of illegal refineries and oil thieves met behind closed doors in Yenagoa, Bayelsa State, to discuss issue...

Shale Oil in the US
Posted On May 13 ,2013 - 05:34-AM | by admin

New Oil and Gas Assessment for Bakken and Three Forks Formations On April 30, 2013, the United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Form...

Songa Offshore SE : Notice of Presentation / webcast of Q1 2013 report
Posted On May 13 ,2013 - 05:36-AM | by admin

Songa Offshore SE's First Quarter 2013 report will be released prior to market opening on Thursday 16 May 2013. A presentation will be held the same morning at Shippingklubben, Oslo. ...

Women can get to the top, Petrobras CEO said at the OTC
Posted On May 10 ,2013 - 05:13-PM | by admin

Women can get to the top. In order for this to happen, growth should be a step by step process, along with experience and personal and professional maturity. This was one of the opinions given by Petr...

Petrobras will double in size in seven years
Posted On May 10 ,2013 - 05:25-PM | by admin

Petrobras will double in size by 2020. The statement was made today by the Company’s CEO, Maria das Graças Silva Foster, during the Offshore Technology Conference (OTC), in Houston (USA). The CEO p...

IMF Executive Board Concludes 2012 Article IV Consultation with Nigeria
Posted On May 10 ,2013 - 05:26-AM | by admin

Executive Board Assessment Executive Directors commended the authorities for prudent macroeconomic policies that have underpinned a strong economic performance in recent years. Looking ahead, Dire...

Dokubo-Asari vows to cripple Nigerian oil production
Posted On May 10 ,2013 - 05:20-AM | by admin

Dares Reps, Northern leaders Leader of the Niger Delta People’s Volunteer Force (NDPVF), Mujahid Dokubo-Asari, on Thursday vowed to halt oil production in the country, if he is arrested. Dok...

IMF urges Nigeria To Remove Oil Subsidy
Posted On May 10 ,2013 - 05:40-AM | by admin

The International Monetary Fund (IMF) has urged the President Goodluck Jonathan-led administration to remove fuel subsidy completely, to ensure fiscal adjustment. IMF’s Senior Resident Represent...

Mobil’s Erha North and Total’s Egina, are set to add 350,000 barrels of oil per day to Nigeria’s crude oil production
Posted On May 08 ,2013 - 05:30-AM | by admin

Nigeria’s crude oil production is expected to hit an all-time high of 2.75 million barrels per day (mbpd) as two major deepwater projects, Mobil’s Erha North and Total’s Egina, are set to add 35...

World Bank puts offshore remittances to Nigeria at $21.0 billion (N3.3 trillion)
Posted On May 08 ,2013 - 05:32-AM | by admin

The World Bank estimates, which was quoted by FBN Capital, is consistent with the Central Bank of Nigeria (CBN) balance of payment (BoP) data, which show a steady increase in remittance from $14.5 bil...

Harvest Natural Resources Announces 2012 Fourth Quarter and Year-End Results
Posted On May 06 ,2013 - 05:10-AM | by admin

Harvest Natural Resources, Inc. (NYSE: HNR) today announced 2012 fourth quarter and year-end earnings. Harvest posted a fourth quarter net loss of $23.1 million, or $0.59 per diluted share, compa...

NNPC announces increased production of premium motor spirits
Posted On May 03 ,2013 - 05:10-PM | by admin

Nigerian National Petroleum Corporation (NNPC) today announced that production of premium motor spirits at its three refineries in Kaduna, Warri and Port Harcourt has reached a combined level of 10.23...

ADNOC enters into joint venture agreement with Shell to develop Bab Sour Gas Field
Posted On May 02 ,2013 - 05:50-AM | by admin

Abu Dhabi National Oil Company (ADNOC) will enter into a joint venture agreement with Shell to develop the Bab sour gas field in the Emirate of Abu Dhabi. Upon signing the joint venture agreement ...

World petroleum production statistics through January 2013
Posted On May 02 ,2013 - 05:53-AM | by admin

The International Energy Statistics (IES) system on the EIA Web Site is now updated with new monthly / quarterly oil data, and wit...

Peter Voser to retire as Chief Executive Officer of Shell in the first half of 2014
Posted On May 02 ,2013 - 05:46-AM | by admin

The Board of Royal Dutch Shell plc (“Shell”) today announced that Peter Voser, as Chief Executive Officer, has elected to retire from the Company in the first half of 2014. Peter Voser was appoin...

Managing Oil & Gas Portfolios in Uncertain Markets
Posted On May 01 ,2013 - 05:35-PM | by admin

Featuring executives from Shell, Ernst & Young, GDF Suez, Lloyds Bank, Statoil, AMEC, this year’s conference will bring together key policy-makers, leading players from the global upstream oil and g...

BP "Off to a good start"
Posted On May 01 ,2013 - 05:40-PM | by admin

BP reported underlying profits of $4.2bn, down 9pc from $4.7bn in the same period of 2012, as the company sold off assets to pay for the Gulf of Mexico disaster. The underlying result was, however...

Greenpeace’s campaign to protect the Arctic
Posted On May 01 ,2013 - 05:51-PM | by admin

With the launch of www.arctictruth.org, the environmental campaign group is making a direct appeal to oil industry employees who may have access to inside info...

Nigeria’s oil export level to fall again
Posted On May 01 ,2013 - 05:10-PM | by admin

Nigeria’s oil exports will fall to a four-year low as a result of crude oil theft and resultant facility closures by some oil companies, news agency Reuters is reporting. Quoting the shipping l...

Alison-Madueke to deliver the keynote address at OTC
Posted On May 01 ,2013 - 05:54-PM | by admin

A statement from the acting Group General Manager, Public Affairs of the Nigerian National Petroleum Corporation (NNPC), Tumini Green yesterday in Abuja, said that Alison-Madueke is expected to projec...

Gardline and OceanPact announce joint venture agreement to expand presence in Brazil
Posted On May 01 ,2013 - 05:06-AM | by admin

The new company is to be called Gardline Marine Sciences do Brasil S.A, and is a 50/50 joint venture between Gardline Marine Sciences (South America) Ltd and OceanPact Serviços Marítimos Ltda. This ...

Mobil signs Qua Iboe 500MW power project agreement
Posted On Apr 26 ,2013 - 04:59-AM | by admin

Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC) / MPN Joint Venture, has signed a seller’s representative agreement (SRA) for the 500 megawatt...

Repsol makes three oil discoveries in Alaska
Posted On May 01 ,2013 - 05:27-PM | by admin

During the winter exploration campaign in an oil-rich area The three wells drilled during the recently completed exploratory campaign found crude oil at different depths. The initial production t...

Oil thieves ask Nigerian govt for amnesty
Posted On Apr 25 ,2013 - 04:47-AM | by admin

A group, the Community Oil Refinery Operators, has asked the Federal Government to grant its members amnesty. The group said only amnesty , with accompanying financial gratifications and empower...

Midwestern Oil and Gas resumes production in Umusadege field
Posted On Apr 25 ,2013 - 04:32-AM | by admin

Midwestern Oil and Gas Company Plc, operator of the Umusadege field has resumed crude oil and gas production in the field following the completion of pipeline repairs and maintenance by Nigerian Agip ...

Saipem Board of Directors approves Interim Report as at March 31, 2013
Posted On Apr 24 ,2013 - 04:22-PM | by admin

results in line with expectations. •Confirmation of results guidance 2013 released on January 29, 2013. •Despite uncertainty in the market, management confirms Saipem’s competitive position...

PPPRA restructures list of approved international oil traders who supply petroleum products to Nigeria
Posted On Apr 23 ,2013 - 04:33-PM | by admin

The Petroleum Products Pricing Regulatory Agency (PPPRA) has commenced moves to reduce the list of international oil traders who supply petroleum products to Nigeria. The Executive Secretary of the...

largest solar photovoltaic (PV) plant in Africa inaugurated by Mauritania
Posted On Apr 22 ,2013 - 04:09-AM | by admin

The International Renewable Energy Agency (IRENA) today welcomed the news that the largest solar photovoltaic (PV) plant in Africa was inaugurated today by the Government of the Islamic Republic of Ma...

LADOL is Gold Sponsor of NOG 2013
Posted On Apr 22 ,2013 - 04:30-AM | by admin

For the fourth year in a row LADOL (Lagos Deep Offshore Logistics) is Gold Sponsor of NOG 2013, Dr. Amy Jadesimi the Managing Director will speak on Making Nigeria, the West African Oil and Gas Hub. ...

Dangote to build oil refinery in Nigeria
Posted On Apr 19 ,2013 - 04:29-AM | by admin

Africa's richest industrialist, Alhaji Aliko Dangote reportedly announced that he plans to build a refinery at a cost of $8 billion. He made the announcement this week in Lagos, saying that the refine...

Nigeria to combat oil theft and illegal bunkering
Posted On Apr 19 ,2013 - 04:14-AM | by admin

Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said at a press briefing in Washington DC that the government would resort to withdrawals from the Excess Crude Account ...

Egypt awards eight oil and gas contracts
Posted On Apr 18 ,2013 - 04:36-PM | by admin

In Egypt, the Egyptian Natural Gas Holding Co. has awarded contracts in eight oil and gas prospection projects for a total minimum investment of US$1.2bn off its Mediterranean coast A statement fro...

SPDC shuts down NCTL to remove oil theft points
Posted On Apr 18 ,2013 - 04:09-PM | by admin

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) shut down the Nembe Creek Trunkline (NCTL) on Monday (15th April) to remove crude oil theft connections and investigate suspected oil thef...

CNPC Chairman meets with BP's Group Chief Executive
Posted On Apr 18 ,2013 - 04:56-PM | by admin

On April 17, CNPC Chairman Zhou Jiping met with BP's Group Chief Executive Bob Dudley in Beijing. They had an in-depth discussion on cooperation concerning the upstream and downstream business in Chin...

CNPC commences the second phase Halfaya Project in Iraq
Posted On Apr 18 ,2013 - 04:28-PM | by admin

On April 14, the second phase of CNPC's Halfaya Project kicked off. The Halfaya project consists of three phases. The first phase project became operational in June, 2012, and now producing at a daily...

Hydraulic fracturing and Ireland's position
Posted On Apr 18 ,2013 - 04:33-PM | by admin

The Irish government needs to take advantage of domestic oil and natural gas reserves but fracking campaigns need further study, the energy minister said. Irish Energy Minister Pat Rabbitte told...

Canada woos China
Posted On Apr 18 ,2013 - 04:47-AM | by admin

Canadian Trade Minister Ed Fast said, "Whether it's oil, whether it's gas, whether it's uranium, coal, hydro or clean energy like solar and wind power, we've got it," The Globe and Mail, a Toronto new...

Nigeria crude oil production drops to 2.3 million barrels per day (mbpd) compared with the projected estimate of 2.48mbpd
Posted On Apr 18 ,2013 - 04:42-AM | by admin

April and May to average about 2.2mbpd Nigerian National Petroleum Corporation (NNPC) yesterday announced a drop in crude oil revenue of about $1.23 billion (N191 billion) due to a drop in crude oi...

US Supreme Court backs Shell
Posted On Apr 18 ,2013 - 04:51-AM | by admin

The nine justices of the US Supreme Court unanimously said that a court in the state of New York could not hear a case against the Shell oil firm, over alleged abuses in Nigeria. The case was filed...

Aramco Fuel Research Center inaugurated
Posted On Apr 17 ,2013 - 04:16-PM | by admin

Aramco Overseas Co. B.V. (AOC), a subsidiary of Saudi Aramco, has announced the inauguration of the Aramco Fuel Research Center (FRC), France. The established research facility is part of a long-term ...

Freighter collides with the stern of the M/T Neste in the Bay of Bothnia
Posted On Apr 17 ,2013 - 04:15-AM | by admin

The M/V Varnebank, a Dutch freighter, struck the stern of a Neste Oil tanker, the M/T Neste, which was carrying a part cargo of diesel fuel, south of Kemi in the Bay of Bothnia at 18.05 EET on Tuesday...

Crude Oil from South Sudan reaches Sudan
Posted On Apr 17 ,2013 - 04:21-AM | by admin

Sudan's oil ministry said Sunday that the first crude from South Sudan reached its territory, bringing both nations closer to billions of dollars in revenue after a dispute over fees. "The first ba...

Iraqi Kurdistan almost ready to export its crude oil via Turkey
Posted On Apr 17 ,2013 - 04:49-AM | by admin

The Kurdistan Regional Government (KRG) is on track to finish the pipeline in the third quarter, linking Genel Energy's Taq Taq oilfield with an existing Iraq-Turkey crude pipeline, four Turkey-based ...

NNPC Management Condoles GMD over Killing of Younger Brother
Posted On Apr 16 ,2013 - 04:28-PM | by admin

The Management and Staff of the Nigerian National Petroleum Corporation, NNPC have expressed deep condolences with its Group Managing Director, Engr. Andrew Yakubu on the untimely demise of his younge...

NNPC/PPMC Debunks Reports of Imminent Fuel Scarcity
Posted On Apr 16 ,2013 - 04:08-PM | by admin

The Managements of the Nigerian National Petroleum Corporation (NNPC) and its downstream and marketing subsidiary, the Pipelines and Products Marketing Company (PPMC) have urged members of the public ...

MEND destroys oil well in Nigeria
Posted On Apr 15 ,2013 - 04:26-PM | by admin

Movement for Emancipation of Niger Delta on Sunday claimed responsibility for the destruction of Oil Well 62 belonging to the Shell Petroleum Development Company in Ewellesuo, Nembe Local Government o...

Action Congress of Nigeria (ACN) issues warning on the rising cases of crude oil theft and pipeline vandalism in the Niger Delta
Posted On Apr 15 ,2013 - 04:05-AM | by admin

In a statement issued in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said oil theft and pipeline vandalism, the cost of which has been put between $6 and $12 bi...

Gunmen kill NNPC boss’s brother in Nigeria
Posted On Apr 15 ,2013 - 04:00-AM | by admin

Suspected assassins struck in the morning, killing one Yohanna Yakubu, a younger brother of the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu. The gu...

Chevron 'Cuts' CEO's Pay
Posted On Apr 12 ,2013 - 04:28-AM | by admin

Chevron Corporation has cut the bonuses and other benefits of its Chief Executive Officer (CEO) and two other top officials over accidents involving the company's facilities in 2012, including underwa...

NIMASA Implements Oil Installations, Wells Levy
Posted On Apr 12 ,2013 - 04:13-AM | by admin

The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced the implementation from April this year, of a Sea Protection Levy (SPL) which oil companies with oil installations, includ...

HERITAGE OIL UPDATE IN RELATION TO ARBITRATION PROCEEDINGS AGAINST UGANDAN GOVERNMENT
Posted On Apr 12 ,2013 - 04:16-AM | by admin

Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, responds to recent press speculation and statements attributed to Ugandan officials in relation to confidentia...

Strain of Oil Theft in Niger Delta
Posted On Apr 12 ,2013 - 04:01-AM | by admin

Royal Dutch Shell Plc Thursday decried the rising incidences of oil theft in the Niger Delta, saying it was no longer possible to estimate the volume of crude oil stolen and its attendant environmenta...

Chevron Issues Interim Update for First Quarter 2013
Posted On Apr 11 ,2013 - 04:24-AM | by admin

Chevron Corporation (NYSE: CVX) today reported its interim update, which contains industry and company operating data for the first two months of the first quarter. Readers are advised that the commen...

Technip’s Shareholders’ Meeting
Posted On Apr 10 ,2013 - 04:11-AM | by admin

Technips’ Shareholders are invited to participate to Technip’s Shareholders’ Meeting which will be held on Thursday, April 25, 2013, at 3:00 p.m. at Auditorium Paris Centre Marceau, 12 avenue Ma...

Chevron Marks 20-Year Partnership With Kazakhstan
Posted On Apr 08 ,2013 - 04:57-AM | by admin

Chevron this week celebrated 20 years of successful partnership with the Republic of Kazakhstan at events in Astana with President Nazarbayev, Prime Minister Akhmetov, key government officials, employ...

Construction of the Myanmar-China oil & gas pipelines
Posted On Apr 08 ,2013 - 04:45-AM | by admin

hou Jiping calls on Myanmar President U Thein Sein in Sanya On April 6 in Sanya, Hainan Province, CNPC President Zhou Jiping had an audience with President of the Republic of the Union of Myanmar ...

OPEC daily basket price stood at $103.10 a barrel Friday, 5 April 2013
Posted On Apr 08 ,2013 - 04:25-AM | by admin

The price of OPEC basket of twelve crudes stood at 103.10 dollars a barrel on Friday, compared with $104.21 the previous day, according to OPEC Secretariat calculations . ...

OPEC daily basket price stood at $104.21 a barrel Thursday, 4 April 2013
Posted On Apr 05 ,2013 - 04:56-PM | by admin

The price of OPEC basket of twelve crudes stood at 104.21 dollars a barrel on Thursday, compared with $106.80 the previous day, according to OPEC Secretariat calculations....

Shah Deniz Begins Evaluating Final Gas Transportation Offers
Posted On Apr 05 ,2013 - 04:18-AM | by admin

The Shah Deniz consortium has begun evaluating final offers it has received from the Nabucco Gas Pipeline International and Trans Adriatic Pipeline (TAP) for transportation of Shah Deniz Stage 2 gas t...

Committees of Neste Oil's Board of Directors
Posted On Apr 04 ,2013 - 04:50-PM | by admin

Convening after the Annual General Meeting today, Neste Oil's Board of Directors elected the members of its two Committees. Mr Jorma Eloranta was elected Chair and Ms Maija-Liisa Friman and Mr Wil...

Qatargas delivers its first cargo of liquefied natural gas (LNG) to Jurong Island in Singapore
Posted On Apr 04 ,2013 - 04:20-AM | by admin

Khalid Bin Khalifa Al-Thani, CEO of Qatargas, said, “Qatargas is at the forefront of commissioning new LNG terminals and is confident of its continuing ability to maintain safe, long-term reliable s...

Saudi Arabia is likely to export more crude
Posted On Apr 04 ,2013 - 04:14-AM | by admin

The Kingdom’s Oil Minister Ali Al-Naimi said, “It is thanks to Asian demand and Gulf Cooperation Council (GCC) energy supplies that our region’s combined GDP is at an historic high and that econ...

Forte Oil Plc, announces its results
Posted On Apr 04 ,2013 - 04:07-AM | by admin

Petroleum products marketing firm, Forte Oil Plc, also announced its results, indicating a return to profitability after two years of crisis and uncertainty. The company formerly known as Afri...

PENGASSAN claims Nigeria loses six billion dollars annually to crude oil theft
Posted On Apr 03 ,2013 - 04:53-AM | by admin

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says the country loses six billion dollars annually to crude oil theft. Mr Babatunde Ogun, PENGASSAN's President, made...

Oil majors continue to voice concern over certain provisions in the pending Nigeria Petroleum Industry Bill (PIB)
Posted On Apr 03 ,2013 - 04:02-AM | by admin

It has been reported that the oil companies argued that the fiscal terms in the proposed reform bill are harsher than the current fiscal regime and the rest of the world and have expressed concern tha...

Israel announces natural gas supply from the Tamar field in the Mediterranean Sea
Posted On Apr 02 ,2013 - 04:53-PM | by admin

According to the Energy and Water Ministry, gas from the reservoir will start to gather at the receiving station in the city of Ashdod in Israel within 24 hours from its departure from the rig. T...

Crude Oil Spill in Arkansas
Posted On Apr 02 ,2013 - 04:28-AM | by admin

Exxon Mobil said that one of its pipelines leaked “a few thousand” barrels of Canadian heavy crude oil near Mayflower, Arkansas, late Friday, prompting the evacuation of 22 homes and reinforcing c...

Petrobras to auction $5b of Nigeria oil assets
Posted On Mar 28 ,2013 - 03:07-AM | by admin

Petrobras is to auction off its stakes in Nigerian oil fields to raise cash for domestic projects, a deal that may fetch up to $5 billion, sources close to the deal said According to news reports by...

Iran replaces ONGC with domestic firm in oil field
Posted On Mar 27 ,2013 - 03:11-PM | by admin

Iran has awarded the development of an offshore oil field that state—owned Oil and Natural Gas Corp (ONGC) had abandoned as commercially unviable, to a domestic company. ONGC Videsh Ltd and its p...

OPEC daily basket price stood at $105.86 a barrel Tuesday, 26 March 2013
Posted On Mar 27 ,2013 - 03:17-PM | by admin

The price of OPEC basket of twelve crudes stood at 105.86 dollars a barrel on Tuesday, compared with $105.48 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference Baske...

YPF and Dow Chemical sign memorandum to develop shale gas in Patagonia
Posted On Mar 27 ,2013 - 03:55-PM | by admin

Argentina’s nationalized energy company YPF on Tuesday signed a memorandum of understanding with the local subsidiary of the US Dow Chemical to develop the shale gas deposits in the southern Nequen ...

Nigeria's Petroleum Tanker Drivers Commend Yakubu on Pipeline Rehabilitation
Posted On Mar 27 ,2013 - 03:53-AM | by admin

The Petroleum Tanker Drivers arm of the National Union of Petroleum and Natural Gas Workers (NUPENG) has commended the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), En...

Oil exports via Port Sudan to resume
Posted On Mar 26 ,2013 - 03:11-PM | by admin

Sudan and South Sudan agreed last week on an implementation matrix for nine cooperation agreements signed in September in Addis Ababa, under the mediation of the African Union. They include the resump...

Egypt gets $2 billion from Libya
Posted On Mar 26 ,2013 - 03:18-PM | by admin

The Libyan government is completing an agreement to deposit about $2 billion into Egypt’s central bank. The $2 billion deposit was first reported by the Anatolia news agency of Turkey on Sunday, ...

Oil theft activities affect IOC's in Nigeria
Posted On Mar 26 ,2013 - 03:07-PM | by admin

As bunkering activities continued unabated in the Nigerian oil industry, two oil multinational firms at the weekend announced the suspension of their activities in order to take stock of the losses an...

IEA, IEF and OPEC host Third Joint Workshop
Posted On Mar 26 ,2013 - 03:33-AM | by admin

The International Energy Agency (IEA), International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) hosted the Third Joint Workshop on “Interactions between Phys...

Zambia Ex-President Banda Arrested Over Sale Of Nigerian Oil
Posted On Mar 26 ,2013 - 03:25-AM | by admin

Former Zambian president, Mr. Rupiah Banda, was arrested Monday by the country’s law enforcement agency over allegations of corruption and abuse of office, following a crude oil import deal with Nig...

RWE Dea awarded its Music Scholarship Program in Oslo for the 14th time
Posted On Mar 25 ,2013 - 03:31-PM | by admin

RWE Dea handed over its scholarship to talented young Norwegian classical musicians in Oslo. On this occasion RWE Dea welcomed around 200 guests mostly related to the oil and gas industry. The solemni...

4th Ghana oil and gas Summit conference
Posted On Mar 25 ,2013 - 03:21-PM | by admin

Ghana’s Petroleum Commission is officially endorsing the Ghana oil and gas Summit conference and exhibition, taking place next month in Accra, Ghana. The Petroleum Commission is responsible for t...

Nigeria - Oil and Gas newstrack
Posted On Mar 25 ,2013 - 03:39-AM | by admin

Oil Theft The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, on Sunday during NNPC Day at the 24th Enugu International Trade Fair, disclosed that th...

NEITI to Battle Oil Theft, Pipeline Vandalism in Nigeria
Posted On Mar 22 ,2013 - 03:58-PM | by admin

Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that it will shift focus to oil theft, oil bunkering and pipeline vandalism in Nigeria's oil and gas industry, in view of the h...

Gazprom and CNPC ramping up joint efforts to sign contract for Russian gas supply to China
Posted On Mar 22 ,2013 - 03:19-AM | by admin

Beijing hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Jiang Jiemin, Chairman of the Board of Directors of China National Petroleum Corporation. Takin...

Gazprom and Kazakhstan address prospects for bilateral cooperation
Posted On Mar 22 ,2013 - 03:29-AM | by admin

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Sauat Mynbayev, Oil and Gas Minister of the Republic of Kazakhstan. The par...

Brazil’s 11th petroleum bidding rounds to be held a week before Accelerate Oil & Gas 2013 Expo-Forum
Posted On Mar 22 ,2013 - 03:15-AM | by admin

National Agency of Petroleum, Natural Gas and Biofuels (ANP) officially released the 11th round bids which expected to put Brazil back on the map of international bidding rounds. The 11th round bids w...

Nigeria - Plan to remove fuel subsidy still on course
Posted On Mar 20 ,2013 - 03:13-PM | by admin

President Goodluck Jonathan has said that the Federal Government still plans to withdraw a fuel subsidy after discussing with the public the easiest way to do it. “We cannot continue to waste res...

Qatar rated richest Arab country in 2012
Posted On Mar 18 ,2013 - 03:23-PM | by admin

Qatar emerged as the wealthiest Arab country in 2012 and was the richest nation on earth in 2011, with its GDP climbing to an all time high of $182 billion last year because of soaring gas exports and...

GCC’s oil revenue at record high in 2012
Posted On Mar 18 ,2013 - 03:54-PM | by admin

From $695.9 billion in 2011, the collective oil and gas export earnings of the six Gulf Cooperation Council (GCC) countries climbed to a record $737.5 billion in 2012, according to the Washington-base...

Turkmenistan Oil and Gas Road Show in Dubai
Posted On Mar 13 ,2013 - 03:53-PM | by admin

Turkmen Deputy Prime Minister to open Turkmenistan Oil and Gas Road Show in Dubai Turkmen Deputy Prime Minister Khojamukhamedov for Oil and Gas Affairs will inaugurate today in Dubai The Turkmenis...

South Sudan to resume oil production
Posted On Mar 12 ,2013 - 03:59-PM | by admin

South Sudan's Petroleum and Mining Minister Stephen Dhieu Dau said there were few technical barriers to resuming oil output. "We assume that we will resume as soon as possible," he said, adding it ...

OPEC daily basket price
Posted On Mar 12 ,2013 - 03:43-PM | by admin

The price of OPEC basket of twelve crudes stood at 106.96 dollars a barrel on Monday, compared with $107.06 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference ...

US$2.7 billion for gas condensate refinery in Iran
Posted On Mar 12 ,2013 - 03:20-PM | by admin

The Iranian government has allocated US$2.7bn to establish the Persian Gulf Star gas condensates refinery in the southern Hormozgan province, according to an Islamic Republic News Agency (IRNA) report...

Offshore gas find in Qatar
Posted On Mar 12 ,2013 - 03:19-PM | by admin

Qatar has discovered a small offshore field containing about 70.7bn cubic metres of natural gas, marking the country's first gas find since 1971 According to Mohammed al-Sada, Qatar's energy minist...

Nigeria still loses about N3 billion daily to oil thefts
Posted On Mar 12 ,2013 - 03:56-PM | by admin

Deputy Chairman, House of Representatives Committee on Petroleum (Upstream), Alhaji Moshood Mustapha lamented yesterday that despite enhanced surveillance, Nigeria still loses about N3 billion daily t...

Oil and Gas Analytical Bulletin by Scottish Government
Posted On Mar 11 ,2013 - 03:57-PM | by admin

Analytical briefing note on Oil and Gas industry in Scotland A quote from the bulletin states "Irrespective of the specific assumptions used, Scottish oil and gas production is expected to remain a...

Consortium of Banks confirms NNPC forward sales agreement
Posted On Mar 11 ,2013 - 03:54-AM | by admin

In a presentation at the renewed Hearing of the Joint Committee of the House of Representatives on the alleged transaction, Mr. Ade Adeola, Managing Director, Project and Export Finance of Standard Ch...

OPEC daily basket price stood at $107.31 a barrel Thursday, 7 March 2013
Posted On Mar 08 ,2013 - 03:38-AM | by admin

The price of OPEC basket of twelve crudes stood at 107.31 dollars a barrel on Thursday, compared with $107.64 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference...

Oil Theft: Shell Threatens to Shut Down Nembe Creek Trunk Line
Posted On Mar 04 ,2013 - 03:14-AM | by admin

The Shell Petroleum Development Company of Nigeria (SPDC) has threatened to shut down the entire Nembe Creek Trunk Line (NCTL) following increasing incidents of pipeline vandalism and crude theft acco...

NNPC to adopt new technology to stop pipeline vandals and reduce oil theft
Posted On Mar 01 ,2013 - 03:15-PM | by admin

Kuwait Energy announced year-on-year increases in revenue, profits and production
Posted On Feb 27 ,2013 - 02:39-PM | by admin

Kuwait Energy, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, today announced an update on its financial and corporate activities during it...

Incessant Oil spills in Bayelsa, Nigeria
Posted On Feb 27 ,2013 - 02:27-PM | by admin

National Oil Spills Detection and Response Agency (NOSDRA) said its officials are overwhelmed by the high rate of oil spills in Bayelsa. Musa Idris, the director of the agency’s Oil Spill Response D...

NNPC Pledges support to Kanu Heart Foundation
Posted On Feb 26 ,2013 - 02:00-PM | by admin

The Nigerian National Petroleum Corporation (NNPC) has pledged to support the Kanu Heart Foundation (KHF) in its quest to build a befitting hospital for heart surgery in the country. Group Managing...

Explosion Proof Forklifts for the Oil and Gas Industry
Posted On Feb 26 ,2013 - 02:35-PM | by admin

Nichiyu's expertise in the manufacturing and design of electric forklifts has led to the development of the Nichiyu IECEx explosion-proof forklift. Purposely built for the oil and gas industry, these ...

NNPC $1.56 billion loan is actually forward sales arrangement
Posted On Feb 26 ,2013 - 02:11-PM | by admin

Nigeria's Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said what some persons have termed as loan was a “forward sales arrangement” by the corporation to settle some of its outsta...

Electric vehicles recharging stations installed in Estonia
Posted On Feb 26 ,2013 - 02:05-PM | by admin

Fast charging stations for electric vehicles has now been completed in Estonia. The nationwide system was installed in order to speed the adoption of Electric Vehicles in the country, and to help redu...

Vladivostok–LNG project
Posted On Feb 25 ,2013 - 02:34-PM | by admin

Gazprom adopts final investment decision for Vladivostok–LNG project The Gazprom Management Committee approved the Investment Rationale for LNG plant near Vladivostok. The Investment Rationale w...

BP Prepared to Defend Itself Against Claims by US Government, States and Private Plaintiffs
Posted On Feb 20 ,2013 - 02:14-AM | by admin

in Deepwater Horizon Civil Liability Trial in US District Court BP is preparing for the federal civil trial beginning next Monday in the Deepwater Horizon Multi-District Litigation pending in the ...

Global Water: Oil & Gas Returns to Dubai on 11-12 June 2013
Posted On Feb 19 ,2013 - 02:55-PM | by admin

The CWC Group, UAE Ministry of Environment & Water and the Dubai Supreme Council of Energy this week announced the second Global Water: Oil & Gas Summit 2013 will take place 11-12 June 2013 at the Mad...

Pipeline attacked in Iraq
Posted On Feb 19 ,2013 - 02:32-PM | by admin

Unknown groups bombed and disabled a pipeline carrying fuel oil from Iraq's largest refinery to a province north of Baghdad, the according to reports from the oil ministry. "A bomb attack led to a...

Country Analysis: Thailand
Posted On Feb 16 ,2013 - 02:40-PM | by admin

Thailand is a net importer of oil and natural gas and relies on fossil fuels to meet a majority of its primary energy consumption. The country’s natural gas production has expanded in the past two ...

United States government to cut down oil importation from Nigeria
Posted On Feb 15 ,2013 - 02:45-PM | by admin

The Nigerian Minister of State for Finance, Alhaji Yerima Ngama, reportedly allayed fears over the recent statement by the United States government to cut down oil importation from Nigeria. The Un...

Subsea 7 S.A. awarded contract in offshore Nigeria
Posted On Feb 15 ,2013 - 02:33-PM | by admin

Subsea 7 S.A. awarded Ehra North contract Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a contract from Esso Exploration and Production Nigeria Ltd for the development of the Erha Nor...

OPEC basket @ 14/2/13
Posted On Feb 15 ,2013 - 02:20-AM | by admin

The price of OPEC basket of twelve crudes stood at 114.67 dollars a barrel on Thursday, compared with $114.94 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference B...

UAE's Crescent Group places special focus on Russian expansion in 2013
Posted On Feb 14 ,2013 - 02:59-PM | by admin

The Crescent Group, parent company to Crescent Petroleum, the Middle East's oldest private oil and gas company, and Crescent Enterprises, the Group's non-energy conglomerate which also controls the...

Total announces its results for the year ended 31 December 2012
Posted On Feb 13 ,2013 - 02:11-AM | by admin

Total-2012-resultats-persp-130213-pr

Source: Total

ISSUERS OF NEWS...

Explore exciting opportunities at Accelerate Oil & Gas Expo-Forum 2013
Posted On Feb 11 ,2013 - 02:35-AM | by admin

Accelerate Oil & Gas 2013 is widely expected to be one of the most important events of 2013. The delegates at two days event will include government ministries, Federal, State and local oil &#...

Supply of production and water injection chemicals for Addax OML 123, 124 and 126 fields
Posted On Feb 08 ,2013 - 02:35-PM | by admin

Addax Petroleum Development (Nigerian) Limited invites interested and pre-qualified contractors to respond to the opportunity for the supply of production and water injection chemicals for Addax OML 1...

Find Forte Oil petrol stations via Google map
Posted On Feb 08 ,2013 - 02:45-PM | by admin

Forte Oil Plc, an indigenous petroleum marketing company owned by Femi Otedola, has announced the listing of its petrol stations around the country on Google Maps.

This means that its custo...

Worldwide oil and gas professionals experience wage growth, according to Global Salary Guide
Posted On Feb 08 ,2013 - 02:10-PM | by admin

Oil and gas industry professionals are enjoying significant wage growth, according to the Oil and Gas Global Salary Guide 2013, which is based on data from 25,000 respondents and more than one mill...

Nefertiti oil field
Posted On Jan 31 ,2013 - 01:38-PM | by admin

Dana Petroleum has been given the go-ahead by the Egyptian government to further develop the Nefertiti oil field in the Gulf of Suez following the successful completion of an appraisal well The Abe...

TNK-BP Increased Gas Production in the Orenburg Region by 26% in 2012
Posted On Jan 30 ,2013 - 01:37-PM | by admin

TNK-BP has been implementing a large-scale program aimed at production development in the mature fields of the Orenburg Region, one of the oldest petroleum provinces in Russia which has been exploited...

GE Oil opens new technology and science centre in Basra
Posted On Jan 30 ,2013 - 01:08-PM | by admin

GE Oil & Gas has established a new technology and service center near Basra City, in the heart of the oil-rich North Rumaila region. The facility, which was opened earlier this month, brings the lates...

Court dismisses four claims against Royal Dutch Shell
Posted On Jan 30 ,2013 - 01:20-PM | by admin

A court in the Netherlands dismissed four claims for compensation against Royal Dutch Shell PLC's Nigerian subsidiary, but awarded damages in a fifth, in cases brought by farmers and fishermen claimin...

Nigeria House of Representatives orders investigation into sale of OML 30 to Heritage Oil
Posted On Jan 30 ,2013 - 01:35-PM | by admin

The House of Representatives Tuesday mandated its Committee on Petroleum Resources (Upstream) to conduct a comprehensive investigation into the sale of Oil Mining Lease (OML) 30 to Heritage Oil, a Bri...

Judge accepts $4 billion criminal settlement for BP's guilty plea
Posted On Jan 30 ,2013 - 01:18-PM | by admin

The US District Court for the Eastern District of Louisiana has approved BP's plea to resolve all federal criminal charges against the company, in relation to the Deepwater Horizon disaster in the Gul...

Emirates National Oil Company (ENOC) imports oil from Qatar
Posted On Jan 30 ,2013 - 01:42-AM | by admin

ENOC replaces sanctioned Iran oil with Qatari supplies Emirates National Oil Company (ENOC) has started importing condensate from Qatar to replace sanctioned Iranian oil, according to the Dubai ...

Frontier sign oil exploration deal in Oman
Posted On Jan 30 ,2013 - 01:18-AM | by admin

Frontier Resources (Oman) Ltd has signed an exploration and production sharing agreement (EPSA) with the government of Oman for a 100 per cent interest in Block 38 The EPSA is a six-year agreement ...

Another pipeline explosion at Arepo, Ogun State, Nigeria
Posted On Jan 24 ,2013 - 01:52-PM | by admin

The Nigerian National Petroleum Corporation’s pipeline located at Arepo, Ogun State exploded in the early morning of Wednesday. An official of Pipeline and Products Marketing Company (PPMC), said ...

PPPRA’s 32 petrol importers to Nigeria
Posted On Jan 22 ,2013 - 01:08-AM | by admin

The Petroleum Products Pricing Regulatory Agency (PPPRA) list of 32 oil-marketing and trading companies (OM&Ts) that would be involved in the importation of Premium Motor Spirit (PMS), also known as p...

Nigeria: House of Representatives Order NNPC to 'Suspend' U.S.$1.5 Billion Loan
Posted On Jan 22 ,2013 - 01:23-AM | by admin

House of Representatives ordered the Nigerian National Petroleum Corporation (NNPC) to stop further action on the contentious $1.5 billion syndicated credit obtained by the state oil company to rep...

Sankofa East 2A block,Ghana
Posted On Jan 22 ,2013 - 01:19-AM | by admin

Eni says it drilled in its Sankofa East 2A block, its first appraisal well in the Sankofa East discovery area, located about 120 miles offshore Ghana. "Eni estimates the overall potential of the d...

Discoveries in Uganda
Posted On Jan 22 ,2013 - 01:47-AM | by admin

Oil discoveries in Nwoya district in the Acholi sub-region by Total SA. The discovery comes in the aftermath of seismic studies around the Murchison falls area by its Ugandan operations, Total Exp...

Renewable energy projects in Morocco
Posted On Jan 22 ,2013 - 01:04-AM | by admin

Masdar Signs Agreement with Morocco Masdar announced the signing of a framework agreement with Morocco’s Ministry of Energy, Mines, Water, and Environment that will see cooperation in the renewa...

Kuwait awards Shuaiba North contract
Posted On Jan 22 ,2013 - 01:32-AM | by admin

Kuwait's Central Tender Committee had issued a letter to the joint venture between Kharafi National of Kuwait and Malaysia's Tenaga Nasional Bhd (TNB) to operate and maintain the Shuaiba North co-gene...

African downstream market
Posted On Jan 22 ,2013 - 01:47-AM | by admin

Shell has sold its downstream businesses in 14 African countries for around US$ 1 billion....

Friendship Pipeline to Carry Iran’s Gas to Iraq and Syria
Posted On Jan 21 ,2013 - 01:50-PM | by admin

A gas pipeline named Friendship will be constructed across Iran, Iraq and Syria territories. Petroleum ministry’s spokesperson, Alireza Nikzad Rahbar, made the remarks today at a press conference...

Statoil has been awarded
Posted On Jan 18 ,2013 - 01:48-PM | by admin

8 production licences in the North Sea, of which 5 as operator - 3 as partner. They are located in the Northern North Sea and in the area around King Lear. • 4 production licences in the Norwegian ...

Oil prices,four-month high
Posted On Jan 18 ,2013 - 01:42-PM | by admin

Oil prices hit a four-month high Thursday, propped up by bullish U.S. economic data and worries about supply amid the hostage drama in Algeria. According to Bloomberg News, oil futures for February...

LONGREACH OIL AND GAS LIMITED, Issue of Options
Posted On Jan 18 ,2013 - 01:58-PM | by admin

LONGREACH OIL AND GAS LIMITED (TSX-V: LOI), the oil & gas company focused on Morocco ("Longreach" or the "Company"), announces today (the "Grant Date") that the Board of Directors has issued 3,845,000...

New Zealand Energy Operational Update
Posted On Jan 18 ,2013 - 01:54-PM | by admin

New Zealand Energy Corp. ("NZEC" or the "Company") (TSX VENTURE:NZ)(OTCQX:NZERF) today provided an update on the Company's exploration and production activities in the Taranaki Basin of New Zealand's ...

Thirty-five hostages killed in Algerian helicopter attack on BP gas plant siege
Posted On Jan 17 ,2013 - 01:57-PM | by admin

According to Mauritania's ANI news agency, Thirty-five foreign hostages were killed today in a helicopter air strike by Algerian forces on the BP gas plant seized by al-Qaeda-linked terrorists, milita...

Shale gas in SA
Posted On Jan 15 ,2013 - 01:13-AM | by admin

According to the U.S Energy Information Administration, South Africa has 485 trillion cubic feet of recoverable shale gas resources, roughly half the size of U.S’s reserves of 862 trillion cubic fee...

Noble Energy has a market cap of $18.47 billion
Posted On Jan 15 ,2013 - 01:54-AM | by admin

Noble Energy (NYSE:NBL) hit a new 52-week high Friday as it is currently trading at $105.50, above its previous 52-week high of $105.46 with 528,764 shares traded as of 2:35 p.m. ET. Average volume ha...

Pipeline explosion in Nigeria .... Again!
Posted On Jan 13 ,2013 - 01:02-PM | by admin

A pipeline explosion in the Arepo area of Ogun State killed about 30 people who went to siphon petroleum products from a ruptured Nigerian National Petroleum Corporation pipeline on Saturday according...

Oando to raise N54.6b from capital market
Posted On Jan 09 ,2013 - 01:32-AM | by admin

OANDO Plc has concluded plans to raise N54.6 billion right issue through the issuance of 4,548,236,276 ordinary shares of 50 kobo at N12.00 per share. The Rights Issue exercise, according to reports ...

Nigeria's NNPC borrows N234b
Posted On Jan 08 ,2013 - 01:19-AM | by admin

A syndicated loan of about N234 billion ($1.5billion) has been obtained by the Nigerian National Petroleum Corporation (NNPC) to help it pay debts to international fuel traders, a senior banking sourc...

NNPC announces 774 Pipeline Breaks Since August 2012
Posted On Dec 28 ,2012 - 12:33-AM | by admin

NNPC announced that it suffered 774 breaks in its Pipelines between Ilorin and Lagos since August 2012. The Group Managing Director, Nigerian National Petroleum Corporation (NNPC) Andrew Yakubu, speak...

US Data highlights
Posted On Dec 28 ,2012 - 12:39-AM | by admin

U.S. consumption of motor gasoline including fuel ethanol totaled 17 quadrillion Btu in 2011, a 3-percent decrease from 2010. The top consuming states were California, Texas, and Florida. U.S. co...

Organization of the Petroleum Exporting Countries (OPEC) earnings 2012
Posted On Dec 28 ,2012 - 12:57-AM | by admin

Based on projections from the U.S. Energy Information Administration’s (EIA) December 2012 Short-Term Energy Outlook (STEO), EIA estimates that members of the Organization of the Petroleum Exporting...

Meeting between Eni and GazpromExport
Posted On Dec 28 ,2012 - 12:59-AM | by admin

Eni and GazpromExport met in Moscow a working session on their gas contracts. The parties will meet again in January to continue the discussion. Eni has been present in Russia since 2007 and cur...

Songa Offshore SE : Mandatory Notification of Trade
Posted On Dec 28 ,2012 - 12:20-AM | by admin

Chairman and interim CEO in Songa Offshore SE ("the Company"), Mr Jens A. Wilhelmsen, has today transferred 80,600 shares in the Company from Hajfa Ltd, a company controlled by Mr Jens A. Wilhelmsen t...

CONTRACT FOR BORGHOLM DOLPHIN
Posted On Dec 21 ,2012 - 12:11-PM | by admin

Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy ASA, has entered into a contract with BG International Ltd for the provision of the accommodation semi-submersible Borgholm Dolphin for a nine ...

Drilling offshore Durban
Posted On Dec 21 ,2012 - 12:52-PM | by admin

ExxonMobil Exploration and Production South Africa plans to begin drilling activities offshore of Durban after signing an agreement with Impact Africa. The exploration and production affiliate of E...

Oando to buy Nigerian assets from ConocoPhillips
Posted On Dec 21 ,2012 - 12:46-AM | by admin

Affiliates of Oando PLC agreed to buy Nigerian assets from ConocoPhillips for a total of $1.79 billion plus customary adjustments. The transaction involves two offshore properties consisting of a ...

Bayelsa kidnappers detain Koreans
Posted On Dec 19 ,2012 - 12:40-PM | by admin

Gunmen had on Monday raided a Chinese firm, Hyndai Fabrication Company, at Okpoama, Brass Local Government Area of Bayelsa state, kidnapping six workers, four foreigners and two Nigerians, who worked ...

Award of sub-surface studies contracts to four Nigerian companies
Posted On Dec 19 ,2012 - 12:55-AM | by admin

Shell Petroleum Development Company of Nigeria Ltd (SPDC) has awarded Maturation Studies Services contracts to four Nigerian companies, in an initiative that will help indigenous firms to build their ...

Nigeria - $79 Oil Benchmark for 2013 Budget
Posted On Dec 19 ,2012 - 12:08-AM | by admin

The two chambers of the National Assembly yesterday harmonised their divergent positions and adopted $79 per barrel as the recommended oil benchmark for the 2013-2015 Medium Term Expenditure Framewor...

NNPC Cautions IOC's over False Allegations of Stalling Projects
Posted On Dec 18 ,2012 - 12:31-AM | by admin

Says It Won’t Be Stampeded into Abandoning Due Process The Management of the Nigerian National Petroleum Corporation, NNPC has raised eyebrows on media reports credited to some International Oil an...

OPEC 162nd Meeting concludes
Posted On Dec 17 ,2012 - 12:56-AM | by admin

The 162nd Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Wednesday, 12 December 2012, under the Chairmanship of its President...

Total Signs Partnership Agreements with Rivers Communities
Posted On Dec 17 ,2012 - 12:26-AM | by admin

Total Exploration and Production Nigeria (TEPNG) has signed partnership agreements with the people of Opobo-Nkoro in Rivers State, incorporating the communities into the development agenda of the co...

Drilling to explore Britain’s reserves of shale gas is to be restarted
Posted On Dec 13 ,2012 - 12:06-PM | by admin

UK Department of Energy and Climate Change (DECC) approves resumption of ‘fracking’ in Lancashire DECC announcement marks turning point for UK energy “Today’s news is a turning point for t...

Shell Opposes Nigeria's pending Petroleum Industry Bill (PIB)
Posted On Dec 07 ,2012 - 12:22-PM | by admin

States Nigerian federal government Generated N7trn in 6 years As the debate over the Petroleum Industry Bill (PIB) rages on, the Shell Petroleum Development Company (SPDC) has reiterated its oppositi...

Egyptian Oil block sales
Posted On Dec 05 ,2012 - 12:22-PM | by admin

The country has awarded its first oil concessions since the 2011 revolution to Royal Dutch Shell, RWE and TransGlobe Energy. Within the last month 15 blocks were put up for sale, 11 were bid on wi...

Unions treathen strike in Nigeria
Posted On Dec 05 ,2012 - 12:21-AM | by admin

National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have threatened to shut down oil and gas operations in B...

Offshore gas exploration in China
Posted On Dec 04 ,2012 - 12:50-PM | by admin

China's National Energy Administration (NEA) has announced that the country's production from the South China Sea is projected to reach 15 billion cubic metres (bcm) of natural gas per annum out of a ...

Balaeem Oil Fields, Egypt
Posted On Dec 03 ,2012 - 12:21-AM | by admin

Egypt: $ 1.27 Million Investments to Upgrade Balaeem Oil Fields Minister of Petroleum Osama Kamel unveiled new investments and more economic relations between foreign partners and major Egyptian co...

Oil Companies Spilled 30m barrels of oil in Niger Delta
Posted On Nov 30 ,2012 - 11:38-PM | by admin

Oil-producing companies operating in the Niger Delta have spilled about 30 million barrels of crude oil into the environment since oil production started in Nigeria, according to statistics provided b...

NNPC expresses commitment to grow local content to 70%
Posted On Nov 30 ,2012 - 11:40-PM | by admin

The Nigerian National Petroleum Corporation has pledged to partner with the Nigerian Content Development and Monitoring Board in growing Nigerian Content in the oil and gas industry to the 70 per cent...

Market Implications of Increased Domestic Production of Light Sweet Crude Oil in US
Posted On Nov 30 ,2012 - 11:44-PM | by admin

Rising domestic production of light sweet crude oil, especially from tight oil formations in North Dakota and Texas, is already leading to adjustments in oil markets. U.S. Gulf Coast refineries are us...

Nigerians on Africa's richest 40 list who owe their wealth to oil and gas include
Posted On Nov 30 ,2012 - 11:05-PM | by admin

Mike Adenuga of Conoil Producing is at number 5. At 59 years of age, his net worth is calculated at $4.6 billion. Conoil is one of Nigeria's most successful indigenous producers with a production capa...

BP temporarily locked out of US government contracts
Posted On Nov 29 ,2012 - 11:02-AM | by admin

BP will temporarily be locked out of lucrative deals, including contracts to supply the US military with fuel, and will also be barred from winning new licences to drill for oil until bosses can demon...

Total’s Egina, Ofon oil fields
Posted On Nov 27 ,2012 - 11:30-PM | by admin

Total’s Executive Director in charge of Exploration, Strategy, Planning, and Nigerian Content, Dr. Kingsley Ojoh, has said that the company's Egina and Ofon oil fields development projects in Nigeri...

National Union of Petroleum and Natural Gas Workers (NUPENG)
Posted On Nov 27 ,2012 - 11:38-PM | by admin

Leadership of National Union of Petroleum and Natural Gas Workers (NUPENG) yesterday in Lagos, Nigeria picketed the premises of Shell Petroleum Company Limited over casualisation of workers with no co...

Quote of the day- Nigeria
Posted On Nov 27 ,2012 - 11:52-PM | by admin

On Ogoniland Mrs. Diezani Alison-Madueke, “We cannot keep promising the people on the Delta all the time without taking any action; they deserve more than the media publicity we put up, we have ...

CNPC and Government of Tibet sign cooperation agreement on gas supply
Posted On Nov 27 ,2012 - 11:28-PM | by admin

On November 17, CNPC and the Autonomous Regional Government of Tibet signed a cooperation framework agreement on natural gas supply in Beijing. CNPC Chairman Jiang Jiemin and CPC Chief of Tibet Au...

Rio de Janeiro: Sale of interest in BS-4 block
Posted On Nov 27 ,2012 - 11:40-PM | by admin

Petrobras has sold 40% of its interest in the BS-4’s Concession, located in the Santos Basin, which includes Atlanta and Oliva fields, to OGX Petróleo e Gás Participações S.A. The two compan...

Petrobras’s oil production in Brazil increased 5.3% in October
Posted On Nov 26 ,2012 - 11:20-PM | by admin

Petrobras oil production in Brazil in October reached 1 million 940 thousand barrels per day, a 5.3% increase in relation to September. Natural gas production in Brazil was 62 million 425 thousand cub...

Ghana should learn from other's experience in oil industry
Posted On Nov 26 ,2012 - 11:59-AM | by admin

Ms Mary Akosua Togbe, a researcher at the Labour Research and Policy Institute, has noted that the late entry onto the oil producers’ map gives Ghana an advantage to learn from the mistakes of other...

Nigerian National Petroleum Corporation (NNPC) Says Gas Flare Down by 15 Percent
Posted On Nov 26 ,2012 - 11:11-AM | by admin

The Nigerian National Petroleum Corporation (NNPC) has stated that gas flare in oil and gas fields in the country had been reduced by 15 per cent, while it had also exceeded its target for gas-to-powe...

Force Majeure due to oil spill, fire, theft and floods in Nigeria
Posted On Nov 22 ,2012 - 11:20-PM | by admin

Shell Petroleum Development Company of Nigeria Limited (SPDC) has lifted the force majeure, declared last month, on the export of 25,000 barrels per day Bonny Light crude oil.Shell's outages were prom...

Shell Contractors Support Funding Scheme
Posted On Nov 21 ,2012 - 11:18-AM | by admin

The implementation of the Nigerian Content Act received a boost recently as the Shell Petroleum Development Company of Nigeria Limited (SPDC) signed a memorandum of understanding to set up a $5 billio...

CBN Calls for Independent Body on Oil Benchmark
Posted On Nov 21 ,2012 - 11:16-AM | by admin

Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi, on tuesday urged the Federal Government and the National Assembly to learn from the Chilean experience by setting up an independent...

Security threat on oil exploration in inland basins in Nigeria
Posted On Nov 20 ,2012 - 11:04-PM | by admin

The state of insecurity in some parts of Nigeria, especially the Boko Haram menace, is threatening the efforts of the Nigerian National Petroleum Corporation (NNPC) to explore crude oil in the inland ...

Oil spill in Niger Delta spreads
Posted On Nov 19 ,2012 - 11:47-PM | by admin

An oil spill at an ExxonMobil facility offshore from the Niger Delta has spread at least 20 miles from its source, coating waters used by fishermen in a film of sludge. A Reuters reporter visiting ...

Nigeria Oil Thefts continues
Posted On Nov 19 ,2012 - 11:46-PM | by admin

The Nigerian Navy has said it intercepted 17 vessels for engaging in illegal maritime activities during its (navy's) recently-concluded military exercise in the oil-producing Niger Delta region. The C...

Ghanian Government provides 30 million dollars for infrastructure development at UENR
Posted On Nov 19 ,2012 - 11:20-PM | by admin

Government has provided 30 million dollars towards infrastructural development at the University of Energy and Natural Resources (UENR) at Fiapre in the Brong-Ahafo Region. In addition, GH¢15 millio...

Offshore Cuba
Posted On Nov 19 ,2012 - 11:06-PM | by admin

Zarubezhneft, a Russian state-controlled oil company, is set to launch its oil drilling campaign off the coast of Cuba. Exploration rig Songa Mercur, owned-by Songa Offshore, has already reached th...

Nigeria Losing of $7 Billion Every Year to Oil Theft
Posted On Nov 19 ,2012 - 11:24-AM | by admin

IEA Report Confirms Loss of $7 Billion Every Year to Oil Theft The International Energy Agency has released its latest Oil Market Report in which it confirms that the Nigerian government is losin...

Nigeria's Ultra Deepwater greater than 7,000feet Remains Untapped - Chevron
Posted On Nov 19 ,2012 - 11:36-AM | by admin

Hydrocarbon resources in water depths greater than 7,000feet in Nigeria have remained untapped, Chevron Nigeria Limited has said. Speaking recently at an oil and gas conference in Lagos, the Managing ...

First Hydrocarbon Raises Targets in Nigeria's Ogini, Isoko fields
Posted On Nov 19 ,2012 - 11:22-AM | by admin

First Hydrocarbon Nigeria Limited (FHN) has raised the reserve potentials of the Ogini and Isoko oil fields in Nigeria following the completion of an independent assessment of the reserve and continge...

Rampant oil theft, vandalism and security issues forcing oil majors offshore in Nigeria
Posted On Nov 19 ,2012 - 11:00-AM | by admin

SPDC Completes 8th Nigerian Oil Mining Lease Sale The Shell Petroleum Development Company of Nigeria (SPDC) has completed the sale of its 30% interest in Oil Mining Lease 30 (OML 30) to Shoreline Na...

Shell restarts gas to Nigeria LNG plant back after fire
Posted On Nov 16 ,2012 - 11:10-PM | by admin

Shell said on Friday it had lifted its force majeure on gas supply to Nigeria LNG, a day after Total said gas deliveries to the plant had restarted, along with oil output from the 90,000 barrel per da...

CNPC puts into operation the entire gas processing system at Iraq’s Al-Ahdab Oilfield
Posted On Nov 16 ,2012 - 11:01-PM | by admin

On November 7 in Iraq, CNPC’s Al-Ahdab project delivered the first tank of LPG, marking the full operation of the field’s associated gas processing system , which has been completed in only 16 mon...

VRA expects gas flow from West Africa Pipeline end November
Posted On Nov 16 ,2012 - 11:30-AM | by admin

The Volta River Authority (VRA) said it now expected gas from the West African Gas Pipeline Company to start flowing by the end of November, bringing on stream 170 Mega watts of power from the Sunon ...

Ghanian Journalists urged to be interested in mining, oil and gas issues
Posted On Nov 16 ,2012 - 11:38-AM | by admin

Dr Steve Manteaw, Chairman of the Civil Society Platform on Oil and Gas (CSPOG), an organization that seeks to ensure transparency in the receipts and payments of the oil and gas, has advised journali...

BP fined £2.8Billion
Posted On Nov 16 ,2012 - 11:26-AM | by admin

BP, who have admitted 11 charges relating to the Gulf of Mexico Oil spill was fined £2.8bliion yesterday. The settlement with the US justice department will see payments spread over five years. The t...

Oil spill at Qua Iboe oil field
Posted On Nov 12 ,2012 - 11:35-AM | by admin

ExxonMobil in Nigeria has recorded another oil spill at its Qua Iboe oil field “Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC/MPN) Joint ...

BP has been ordered to pay the state of Alaska $255 million
Posted On Nov 09 ,2012 - 11:15-AM | by admin

A subsidiary BP has been ordered to pay the state of Alaska $255 million for royalties the state lost because of production shutdowns after two North Slope oil spills in 2006 and a subsequent pipeli...

Deziani Alison-Madueke, dismisses the clamour for her removal
Posted On Nov 09 ,2012 - 11:49-AM | by admin

Nigerian Minister of Petroleum Resources, Mrs. Deziani Alison-Madueke, Thursday dismissed the clamour for her removal by President Goodluck Jonathan, describing those behind the plot as blackmailers ...

Nigeria - PPPRA makes a fresh case for the deregulation of the downstream sector
Posted On Nov 09 ,2012 - 11:36-AM | by admin

The Executive Secretary Petroleum Products Pricing Regulatory Agency (PPPRA), Mr. Reginald Stanley, Thursday made a fresh case for the deregulation of the downstream sector of the oil industry to a...

INPEX Offshore ,signs a farm-in agreement with ONGC
Posted On Nov 08 ,2012 - 11:20-PM | by admin

INPEX Offshore , has signed a farm-in agreement with Oil and Natural Gas Corporation (ONGC) to acquire a 26% participating interest in exploration block KG-DWN-2004/6, offshore of India. "ONGC, Ind...

25 years’ crude oil production from Mittelplate
Posted On Nov 07 ,2012 - 11:21-AM | by admin

Environmentally safe oil production sets an example worldwide • Celebration with high-ranking guests in Friedrichskoog Since 1987, RWE Dea AG as operator and Wintershall Holding GmbH as a con...

Benchmark Row Continues in the Nigerian House of Representatives
Posted On Nov 07 ,2012 - 11:31-AM | by admin

The debate over the crude oil benchmark is continuing in the House of Representatives with the legislators digging in over their insistence on a benchmark of $80 per barrel. Oil was pegged at a benc...

NNPC Appoints New Chiefs for Port Harcourt and Warri Refineries
Posted On Nov 07 ,2012 - 11:58-AM | by admin

In a bid to reposition the Nigerian National Petroleum Corporation (NNPC) and its key Strategic Business Units, the management of the corporation has sacked the Managing Directors for the Port Harcour...

Sinopec to Acquire Nigerian Oil Blocks
Posted On Nov 07 ,2012 - 11:16-AM | by admin

China Petroleum and Chemical Corporation (Sinopec) has signed a preliminary deal to buy stakes in Nigerian onshore oil blocks from French oil major, Total for about $2.4 billion, Bloomberg reported, c...

Barrack Obama Re Elected
Posted On Nov 07 ,2012 - 11:11-AM | by admin

President Barack Obama has been re-elected to a second term, defeating Republican challenger Mitt Romney. With results in from most states, America's first black president has secured the 270 votes...

Twiga South-1 Drilling Update
Posted On Nov 02 ,2012 - 11:05-PM | by admin

Following media speculation in Kenya, Tullow Oil plc (Tullow) announces that the Twiga South-1 exploration well in onshore Kenya Block 13T has successfully encountered oil. Drilling is on-going and, a...

Nigeria to hold oil licensing round by year-end
Posted On Oct 25 ,2012 - 10:13-AM | by admin

Nigeria will hold its first oil exploration bidding round for five years by the end of this year, while licence renewal talks with Shell and Chevron over existing onshore fields are in their final sta...

Stop The Theft, Stolen Nigeria oil
Posted On Oct 25 ,2012 - 10:23-AM | by admin

The main buyers of the estimated 180,000 barrels of oil stolen each day in Nigeria are based in the Balkans and Singapore, says. Patrick Dele Cole, a campaigner /politician from the oil-rich Niger Del...

Shell PLC pipelines damaged
Posted On Oct 25 ,2012 - 10:28-AM | by admin

Royal Dutch Shell PLC warned Tuesday that it won't be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to ste...

Lagos State Oil & Gas Corp. (LOGASC)
Posted On Oct 19 ,2012 - 10:13-PM | by admin

Lagos state government is working to establish a state-run oil and gas firm. The firm, to be named the Lagos State Oil & Gas Corp. (LOGASC), is being formed to enter the energy sector in hopes of gene...

New Malaysian subsea service base opened by Aker Solutions
Posted On Oct 18 ,2012 - 10:15-PM | by admin

Aker Solutions has opened a new 13,680 square metre subsea lifecycle service base in the Federal Territory of Labuan in Eastern Malaysia. The total facility features a 1,296 square metre workshop w...

Maximillian Fellner appointed new General Manager of RWE Dea Egypt
Posted On Oct 17 ,2012 - 10:49-PM | by admin

Effective as of 1 November 2012, Maximillian Fellner will assume responsibility for the Egyptian subsidiary of RWE Dea AG based in Cairo. ...

Nigeria's three refineries to be upgraded at a cost of $1.6billion
Posted On Oct 16 ,2012 - 10:14-AM | by admin

Its been reported that the Federal Government is to engage new contractors to upgrade and maintain Nigeria's three refineries at the cost of $1.6billion, after it failed to secure the services of the ...

NNPC now runs on SAP business solution
Posted On Oct 09 ,2012 - 10:44-AM | by admin

Nigerian National Petroleum Corporation (NNPC) officially launch System Application Products, also known as SAP, to effectively push the corporation into the league of major globalcompanies that run t...

RWE Dea continues successful development of gas resources in Egypt
Posted On Oct 08 ,2012 - 10:54-AM | by admin

RWE Dea Egypt confirmed a further extension of the South Sidi Ghazy-1x discovery in the Egyptian Nile Delta. The latest development well follows the successful appraisal of the North Sidi Ghazy-1x dis...

Oil thieves affect operations at Nigerian LNG
Posted On Oct 08 ,2012 - 10:25-AM | by admin

Shell last week shut its 28-inch Bomu-Bonny trunk line after oil thieves caused a fire, it said. "An attempt was made to steal crude oil from the Bomu-Bonny trunk line and offload it onto a waiting...

Nigerian Association of Petroleum Explorationist pre-conference on gas development
Posted On Oct 05 ,2012 - 10:46-AM | by admin

Nigerian Association of Petroleum Explorationist (NAPE) will hold its pre-conference workshop for 2012 during which it will examine some issues of industry concern. The workshop is scheduled to ho...

World Bank Forecasts $31bn Foreign Direct Investment for Africa in 2012
Posted On Oct 05 ,2012 - 10:31-AM | by admin

The World Bank said yesterday that it expected about $31 billion in Foreign Direct Investment (FDI) inflows to Africa this year, adding that there had been strong investor-interest in the continent....

Transportation and storage of crude. Law No. 26/12 in Angola
Posted On Oct 01 ,2012 - 10:31-AM | by admin

The Angolan parliament has enacted a new law regarding the transportation and storage of crude. Law No. 26/12, of August 22, 2012, which came into force on the date of gazetting, defines the rules and...

28-inch Bomu – Bonny Trunkline shut down
Posted On Oct 01 ,2012 - 10:17-AM | by admin

Shell Petroleum Development Company (SPDC), yesterday reportedly shut the 28-inch Bomu – Bonny Trunkline after discovering a fire on it. A burning vessel, thought to be involved in the theft of c...

Opposition to PIB Expected, But Reforms Must Go On says President Goodluck Jonathan
Posted On Sep 29 ,2012 - 09:10-AM | by admin

The Oil companies objections to the proposed overhaul of the petroleum sector through the Petroleum Industry Bill are expected, but the reforms are necessary. President Goodluck Jonathan stated ...

Oando Nigeria Falls to 9-Year Low on Share Offer
Posted On Sep 28 ,2012 - 09:27-PM | by admin

Oando Plc (OANDO), which announced a share offer yesterday, fell to the lowest in nine years on concern the amount raised will be insufficient to cover debt. The stock dropped by the daily limit of 5 ...

Nigerian Parliament opens debate on PIB overhaul bill
Posted On Sep 28 ,2012 - 09:13-PM | by admin

Both houses of Nigeria's parliament have finished a first reading of a bill meant to overhaul the oil industry, opening the way for lawmakers to debate the long awaited legislation, the speaker said. ...

Proposed PIB terms explained by Nigerian Minister of Petroleum Resources
Posted On Sep 28 ,2012 - 09:41-AM | by admin

Shell, ExxonMobil and other Oil majors still not buying into it. Speaking at the third Nigeria Investment Summit held in New York under the auspices of the African Business Roundtable, Alison-Madu...

ExxonMobil to Expand High-Performance Synthetic Lubricants Capacity in Louisiana
Posted On Sep 28 ,2012 - 09:50-AM | by admin

• New facilities to include synthetic base stocks manufacturing and finished lube blending and packaging • More than $200 million investment to meet expected growth in product demand • P...

DANA GAS EMPHASISES LEADERSHIP IN CORPORATE GOVERNANCE BEST PRACTICE
Posted On Sep 27 ,2012 - 09:11-AM | by admin

Board Member Majid Jafar says describes “a permanent process of improvement” Majid Jafar, a Board Member of Dana Gas PJSC, addressing the “Board of Directors 2012” conference yesterday, emp...

Seawolf Oilfields gets N22 billion contract
Posted On Sep 24 ,2012 - 09:30-AM | by admin

Seawolf Oilfields, has been awarded a N22 billion contract for the supply of a jack up rig to ExxonMobil. A release Sunday by Seawolf noted that the deal, which was sealed on Friday, will see it su...

Guneshli Fields in the Azerbaijan and ONGC
Posted On Sep 21 ,2012 - 09:47-AM | by admin

ONGC Videsh signs definitive agreements to acquire an interest in the Azeri, Chirag and the Deep Water Portion of the Guneshli Fields in the Azerbaijan sector of the Caspian Sea and an interest in the...

Nigeria's Excess Crude Account, Governors VS Federal Government
Posted On Sep 21 ,2012 - 09:17-AM | by admin

The governors of 36 states, under the umbrella of the Nigeria Governors Forum (NGF), agreed at its meeting on Wednesday that it was better to go to court to enforce the Federal Government’s adherenc...

Well drilling completed at Transfer of Rights area by Petrobras
Posted On Sep 20 ,2012 - 09:52-AM | by admin

Petrobras announces it has completed drilling the fourth well at the transfer of rights area in the pre-salt of Santos Basin. This discovery was previously announced on August 21st, 2012, when the wel...

21 Companies bid for Power Holding Company of Nigeria (PHCN), 4 already pre qualified
Posted On Sep 19 ,2012 - 09:28-AM | by admin

Oando Consortium, Honeywell Energy Resources International Limited, Integrated Energy Distribution and Marketing Limited and Vigeo Holdings, were prequalified yesterday to have their financial bids op...

NNPC takes measures to end the current petrol scarcity in Lagos, Nigeria
Posted On Sep 18 ,2012 - 09:16-PM | by admin

Nigerian National Petroleum Corporation (NNPC) yesterday said that it has taken measures to end the current fuel scarcity in Lagos and some parts of the country. Acting Group General Manager, Group...

Shell halts Arctic Drilling
Posted On Sep 18 ,2012 - 09:02-PM | by admin

Royal Dutch Shell has been forced to delay drilling for oil on the coast of Alaska till 2013. This was due to the failure of a key piece of safety equipment which is supposed to tackle any spills...

Oil spill contained in Delta
Posted On Sep 17 ,2012 - 09:20-AM | by admin

Eni said on Saturday an oil spill near its facilities in the Niger Delta had been contained, but local people said the pollution had spread and damaged their fishing. Eni said the spill occurred las...

$5 billion fund to ease access to loans by local contractors in Nigeria
Posted On Sep 17 ,2012 - 09:57-AM | by admin

Shell Petroleum Development Company (SPDC) and five banks have signed a Memorandum of Understanding (MoU) to create a $5 billion fund to ease access to loans by local contractors. The company said th...

illegal refineries destroyed in Nigeria
Posted On Sep 17 ,2012 - 09:07-AM | by admin

At least 50 local refineries have been destroyed by men of Joint Task Force, Operation Pulo Shield, Army 4 Brigade, in several raids carried out by the command in Edo, Delta and Ondo States. The c...

Gran Tierra Energy Peru S.R.L.
Posted On Sep 14 ,2012 - 09:28-PM | by admin

Gran Tierra Energy Peru S.R.L. has entered into an agreement to purchase the remaining 40% working interest in Block 95 from Global Energy Development PLC. Subject to PeruPetro S.A. and Peruvian Gover...

Funeral rites for late Dr. Levi Ajuonuma, was the former Group GM, Public Affairs Division of the NNPC
Posted On Sep 14 ,2012 - 09:35-AM | by admin

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and NNPC Group Managing Director, Mr. Andrew Yakubu, were among scores of eminent Nigerians who extolled the late spokesman of the corpora...

Oando Plc on Toronto Stock Exchange (TSX)
Posted On Sep 14 ,2012 - 09:22-AM | by admin

Oando Plc has completed its reverse takeover (RTO) of Oando Energy Resources Inc. (OER), previously known as Exile Resources Inc., with the listing of the company’s shares on Toronto Stock Exchange ...

Gas Resources Offshore Mozambique valued at $15 billion
Posted On Sep 13 ,2012 - 09:16-PM | by admin

Anadarko Petroleum Corp. has put a price tag on the development of its substantial gas resources offshore in Mozambique, $15 billion. The $15 billion price tag includes the total cost of offshore deve...

'No need for Nigerians to buy generating sets any longer' says Senior Special Assistant to the President on Public Affairs
Posted On Sep 12 ,2012 - 09:13-AM | by admin

The Federal Government Tuesday said the gas supplies to the three major National Integrated Power Projects (NIPP) based stations at Alaoji, Olorunsogo and Sapele have increased to 240 million standard...

Oil Facility Surveillance Limited (OSFL) workers threatened in Delta State
Posted On Sep 12 ,2012 - 09:24-AM | by admin

THE management of Oil Facility Surveillance Limited (OSFL), on Tuesday, raised the alarm over threat to lives of some of the operatives of the company, who were contracted by the Federal Government to...

Chariot Oil shares down as Kabeljou Well fails to perform
Posted On Sep 11 ,2012 - 09:07-PM | by admin

Shares at Chariot Oil & Gas crashed by 66% yesterday as it was revealed that a second well off the coast of Namibia failed to find any commercial amounts of Oil and Gas and would be plugged. Chief ...

Oil and Gas Museum in Oloibiri, Bayelsa State
Posted On Sep 10 ,2012 - 09:14-AM | by admin

The Federal Executive Council (FEC) is expected to give final approval for the release of funds for the take off of the project according to newsreports. Following the Petroleum Technology Developmen...

Azeri-Chirag-Guneshli block in Azerbaijan
Posted On Sep 06 ,2012 - 09:23-PM | by admin

Around 280 million tons of oil have been extracted at the Azerbaijani block of Azeri-Chirag-Guneshli (ACG) offshore oil and gas fields from the beginning of its development, State Oil Company of Azer...

Azerbaijan plans to keep 51-percent stake in TANAP
Posted On Sep 06 ,2012 - 09:30-PM | by admin

The State Oil Company of Azerbaijan (SOCAR) intends to retain 51 percent of its share in the Trans-Anatolian gas pipeline (TANAP), SOCAR head Rovnag Abdullayev told reporters on Thursday. He said Tur...

BP's Deepwater Horizon oil spill of April 2010 woes continue
Posted On Sep 06 ,2012 - 09:04-PM | by admin

U.S. Department of Justice has accused British oil giant BP of gross negligence, incompetence and a 'culture of corporate recklessness' in the 2010 Gulf of Mexico oil spill - in a legal filing which c...

Oil tanker hijacked and freed in Nigeria waters
Posted On Sep 06 ,2012 - 09:31-AM | by admin

A Nigerian naval ship freed an oil tanker on Wednesday that had been hijacked near Lagos, According to news reports. Pirates hijacked the Singapore-registered Abu Dhabi Star late on Tuesday, about...

Shale gas exploration in Turkey
Posted On Sep 05 ,2012 - 09:50-PM | by admin

Exploration operations have started in the vicinity of Diyarbakir to discover shale gas deposits, Turkish Minister of Energy and Natural Resources Taner Yildiz said today according to reports by Anado...

Angolan and Nigerian exports rise in August
Posted On Sep 05 ,2012 - 09:10-PM | by admin

OPEC crude oil output rose in August averaging 31.53 million barrels per day (bpd), up from 31.30 million bpd in July, the survey of sources at oil companies, OPEC officials and analysts found. Ang...

Oando's Pay-As-U-Gas metering system
Posted On Sep 05 ,2012 - 09:46-AM | by admin

Oando Marketing PLC (OMP), enters into an agreement with Lift Above Poverty Organization Microfinance Bank (LAPO) to provide soft loans for low-income households in Nigeria to purchase Liquefied Petro...

Ghana’s democracy is a recipe for oil boom
Posted On Sep 05 ,2012 - 09:05-AM | by admin

Ghana’s democracy and political stability is a fertile ground for a boom in the oil industry, Mr John-Peter Amewu, Manager, Regional Extractive Industry Knowledge Hub, Ghana Institute of Management ...

Oil rig hostage sues former employer
Posted On Sep 04 ,2012 - 09:13-PM | by admin

Lawsuit for not being protected in unsafe workplace. A Newfoundlander who was taken hostage on an oil rig off Nigeria in 2010 is suing his former employer, on grounds that he and other workers should...

Naira Patent Owned by Foreigners- CBN
Posted On Sep 04 ,2012 - 09:35-PM | by admin

The trademark patent right of the naira notes in circulation is owned by non-Nigerians, the Central Bank of Nigeria (CBN) has revealed. The apex bank yesterday cited this as one of the reasons it w...

Nigeria, Iran to Partner on Power
Posted On Sep 04 ,2012 - 09:50-PM | by admin

The Federal Government of Nigeria and Islamic Republic of Iran have agreed to partner in the area of electricity supply, agriculture, science and education. This position was reached at a bilater...

BP woes continues
Posted On Sep 04 ,2012 - 09:11-PM | by admin

South Yorkshire Pensions Authority, Skandia Global Funds and GAM Fund Management have reportedly filed common fraud, statutory fraud and negligent misrepresentation lawsuits in the state of Texas agai...

BP Egypt gas discoveries
Posted On Sep 01 ,2012 - 09:33-AM | by admin

BP Egypt has found its fourth and fifth gas discoveries in Taurt North and Seth South, which form parts of the North El Burg Offshore Concession, Nile Delta according to various news reports. The...

Greek Tanker Released by Pirates
Posted On Sep 01 ,2012 - 09:10-AM | by admin

Pirates have reportedly released the Energy Centurion – a Greek-operated oil tanker that was hijacked on Tuesday off Togo. All of the captured crewmen onboard were also safely freed. The ship’s...

Petrofac selected as the preferred bidder by Pemex
Posted On Aug 31 ,2012 - 08:47-PM | by admin

Petróleos Mexicanos awards Arenque contract to Petrofac Petrofac has been selected as the preferred bidder by Petróleos Mexicanos (Pemex) to develop the Arenque project located offshore of Mexi...

Pipeline explodes in Ogun State, Nigeria
Posted On Aug 31 ,2012 - 08:06-AM | by admin

Officials of the Fire Service and National Emergency Management Agency (NEMA) were on Thursday evening battling to put out a fire that broke out from a bust pipeline at Arepo village in Ogun. The f...

CNPC President meets with Sudanese Petroleum Minister
Posted On Aug 31 ,2012 - 08:09-AM | by admin

On August 28, CNPC President Zhou Jiping had an interview with Sudanese Petroleum Minister Awad Ahmed al-Jaz in Beijing. They exchanged ideas on further strengthening oil cooperation. CNPC Vice Pre...

India continues to buy Iranian Oil
Posted On Aug 29 ,2012 - 08:46-AM | by admin

India said it will continue to remain the biggest buyer of crude oil from Iran and its companies will find ways to work around the financial restrictions imposed on oil purchases. "We are still the...

Hurricane Isaac affects Oil prices
Posted On Aug 29 ,2012 - 08:35-AM | by admin

WTI light sweet crude for October delivery, added 86 cents to USD 96.33 a barrel. Brent North Sea crude for October gained 32 cents to USD 112.58 a barrel. Around 93 per cent of oil production and...

$400 billion of Nigeria’s oil revenue has been stolen or misspent since 1960
Posted On Aug 29 ,2012 - 08:49-AM | by admin

Former World Bank Vice-President for Africa, Dr. Oby Ezekwesili, Tuesday said an estimated $400 billion of Nigeria’s oil revenue has been stolen or misspent since the country’s independence in 196...

28 Kidnapped Oil Workers Rescued In Niger Delta
Posted On Aug 28 ,2012 - 08:35-PM | by admin

Joint Task Force, JTF, which rescued 28 workers of an oil servicing company, China Petrochemical Corporation, Sinepoc on Ikang waterways in Bakassi Local Government Area of Cross River State, has decl...

Neste Oil's CFO to leave
Posted On Aug 28 ,2012 - 08:31-AM | by admin

Neste Oil's CFO, Ilkka Salonen, will leave the company on 31 August 2012. Vice President, Finance and Control, Matti Piri will take over his duties as an acting CFO. Ilkka Salonen's departure is by mu...

Nature takes charge as Hurricane Isaac looms
Posted On Aug 27 ,2012 - 08:11-AM | by admin

24 % of U.S. oil production and 8.2 percent of natural-gas output from the Gulf of Mexico is shut because of Isaac, the Bureau of Safety and Environmental Enforcement said. The Gulf is home to 23 ...

Amuay refinery, Venezuela - 39 killed
Posted On Aug 27 ,2012 - 08:49-AM | by admin

The Amuay refinery was still burning on Sunday more than a day after the blast, sending up a thick column of black smoke. A total of 209 homes and 11 businesses were damaged in the explosion, and a...

Egypt requests $4.8b loan from IMF
Posted On Aug 27 ,2012 - 08:05-AM | by admin

Egypt on Wednesday formally asked the International Monetary Fund (IMF) for a $4.8 billion loan to boost the her sagging economy, and said it expects to reach a final agreement by the end of the year,...

Sub-Saharan Africa
Posted On Aug 25 ,2012 - 08:11-AM | by admin

U.S. Secretary of State Hillary Clinton is in the midst of an 11-day trip across sub-Saharan Africa. Speaking on 1 August states; “The Obama Administration’s comprehensive strategy on Sub-Sahar...

US Mandates Oil Companies to Disclose Payments Abroad
Posted On Aug 25 ,2012 - 08:49-AM | by admin

United States-listed oil, gas and mining companies would be required to reveal all payments they make to foreign governments, including those for drilling or exploration licences. The new rules ado...

New oil discovery in ultra-deep waters in Sergipe-Alagoas Basin
Posted On Aug 25 ,2012 - 08:46-AM | by admin

Petróleo Brasileiro S.A. - Petrobras announces that it has confirmed the presence of good quality oil and gas in the BM-SEAL-10 block, in ultra-deep waters in Sergipe-Alagoas Basin. This block is par...

One spill too many in Akwa Ibom
Posted On Aug 25 ,2012 - 08:15-AM | by admin

ExxonMobil Oil Spill Overwhelms The Atlantic Coastline in Akwa Ibom Fishermen and residents of coastal communities in Ibeno, Esit Eket local councils in Akwa Ibom who noticed crude deposits on the...

New discovery in the Transfer of Rights Area
Posted On Aug 23 ,2012 - 08:00-PM | by admin

Petrobras announces the discovery of good quality oil in the fourth well drilled in the Transfer of Rights area, located in the pre-salt of the Santos Basin. The well, 3-BRSA-1053-RJS (3-RJS-699), kno...

List Of Oil Racketeers Recommended For Criminal Investigation
Posted On Aug 23 ,2012 - 08:19-PM | by admin

Nigerian government's published list of oil marketers recommended for criminal investigation in the on-going subsidy saga in the country’s oil industry. 1 ALMINNUR RESOURCES LIMITED

Total Kenya's first-half pretax loss
Posted On Aug 23 ,2012 - 08:40-AM | by admin

Reuters reports that Oil marketer Total Kenya expects easing economic conditions to help it return to profit this year after oil price caps and a surge in financing costs sent it to a first-half preta...

Nigeria is shelling out hundreds of millions of dollars to Ex Militants
Posted On Aug 23 ,2012 - 08:01-AM | by admin

Govt. rewards Oil bandits with contracts Alhaji Dokubo-Asari and a crew that he ran bled oil from pipelines in the mangrove-choked creeks of the Niger Delta and sold it to smugglers. Last year, T...

$500 million health programme in Ogoni land
Posted On Aug 20 ,2012 - 08:27-PM | by admin

Security in Nigeria costs Shell Millions, leaked data shows
Posted On Aug 20 ,2012 - 08:24-PM | by admin

Seismic survey in the Caspian Sea
Posted On Aug 20 ,2012 - 08:43-AM | by admin

RWE Dea successfully completes seismic survey in the Caspian Sea RWE Dea has successfully completed its seismic survey off the coast of Turkmenistan after just under four months. A 3D seismic surve...

Nigeria to add 120 million cubic feet of gas per day to natural gas grid
Posted On Aug 17 ,2012 - 08:05-PM | by admin

Mrs Alison-Madueke, Minister of Petroleum Resources Diezani said the government has initiated an extensive gas expansion project, which will add 120 million cubic feet of gas per day to Nigeria's natu...

Chinese, CNPC assist Costa Rica Refinery Construction
Posted On Aug 17 ,2012 - 08:40-PM | by admin

Costa Rica To Start Refinery Construction In January With the financial support of the government of China, Costa Rica is expected to start in January 2013 the construction of a new oil refinery, t...

Nigerian government revenue rose 8 percent in July
Posted On Aug 17 ,2012 - 08:14-AM | by admin

Oil Revenue up 22% in July on Improved Security Nigerian government revenue rose 8 percent to 825.4 billion naira ($5.3 billion) in July compared with 763.6 billion naira in the previous month as o...

Ukraine has approves joint offshore exploration
Posted On Aug 16 ,2012 - 08:19-AM | by admin

Ukraine has approved a joint offshore exploration bid led by ExxonMobil and Royal Dutch Shell to unlock oil and gas reserves deep under the Black Sea, the Financial Times reported on Wednesday. The...

Nigeria’s crude oil export to the US declines to 352,000bpd
Posted On Aug 14 ,2012 - 08:11-AM | by admin

Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu has revealed that Nigerian crude oil production has increased from 2.4 Million barrels per day to 2.7 mbpd. The Group Managing ...

OML 56 Discovery
Posted On Aug 14 ,2012 - 08:45-AM | by admin

Oando Energy Resources Inc. (OER)saw positive initial results from drilling on OML 56. The company said that the EB-4 well, spud in March, was drilled to a total depth of 12,120 ft measured depth to a...

Baku, Azerbaijan 17-19 September 2012
Posted On Aug 10 ,2012 - 08:54-AM | by admin

The International Press Institute will host an international Oil, Gas and Media Conference in Baku, Azerbaijan from 17-19 September 2012, the official website of the conference that held in partnershi...

Expedite the passage the Petroleum Industry Bill (PIB)
Posted On Aug 10 ,2012 - 08:45-AM | by admin

Lagos State Governor, Mr Babatunde Fashola, has urged the Federal Government to expedites plan on the passage the Petroleum Industry Bill (PIB). Fashola, who was represented by Mr Ola Oresanya, Cha...

Power Holding Company of Nigeria (PHCN) Assets
Posted On Aug 09 ,2012 - 08:13-PM | by admin

Oando Bids,Others bid Oando and Honeywell Energy Resources are among the 54 companies that have tendered their request to Nigeria’s Bureau of Public Enterprise (BPE) to buy the eleven distrib...

Shell loses $550m to oil theft
Posted On Aug 09 ,2012 - 08:57-AM | by admin

Shell Petroleum Development Company (SPDC), said it lost over $550million in June this year due to activities of crude oil thieves in the Niger Delta. General Manager, Sustainable Development and Comm...

Indonesia to continue purchasing Iranian Oil
Posted On Aug 07 ,2012 - 08:58-PM | by admin

The Indonesian ambassador to Tehran has dismissed the oil embargoes against Iran, saying Jakarta will continue to purchase the Iranian crude. “Indonesia needs cooperation and trade transact...

Shell to take its money and run from the Eurozone
Posted On Aug 07 ,2012 - 08:20-PM | by admin

Shell is going to reduce it’s exposure to the turbulent eurozone economies and its been reported that $15bn will be transferred imminently, invested in US Treasuries and US bank accounts. Shell p...

Amnesty takes on Shell
Posted On Aug 07 ,2012 - 08:54-AM | by admin

Rights group Amnesty International (AI) has challenged the Anglo-Dutch oil company Shell over its claims that sabotage was responsible for a seven-day-long oil spill in Nigeria in June. "No matt...

Japan to continue Iran crude oil imports
Posted On Aug 07 ,2012 - 08:42-AM | by admin

Japanese refiner Showa Shell Sekiyu KK has announced that it will continue crude oil imports from Iran regardless of US and European Union oil sanctions against the Islamic Republic. The company of...

Clean-up of Ogoniland Begins
Posted On Aug 07 ,2012 - 08:27-AM | by admin

The Nigrian Federal Government announced yesteday that it has commenced the implementation of the United Nations Environment Programme (UNEP) report on the clean-up of Ogoniland, damaged by years of o...

OPEC's Annual Statistical Bulletin 2012
Posted On Aug 07 ,2012 - 08:19-AM | by admin

Some highlights from this year's ASB are as follows: World crude oil production increased in 2011 by 0.9%, with different regions showing heterogeneous results. While Canadian, US and Middle East ...

Sudan and South Sudan Reach Oil Agreement
Posted On Aug 06 ,2012 - 08:47-PM | by admin

After a meeting in Addis Ababa, Ethiopia, Sudan (North) and South Sudan reached a deal on oil transit fees, which is seen as a momentous step towards peace between the two. They still have to settl...

Nigeria, Jamaica agree oil, gas cooperation
Posted On Aug 06 ,2012 - 08:31-AM | by admin

The talks between both leaders equally highlighted the existence of an Agreement on Cultural and Educational Cooperation between both countries, agreeing on the need to review cultural and educational...

PIB is fair to All – Alison-Madueke
Posted On Aug 06 ,2012 - 08:30-AM | by admin

Says New Fiscal Regime will Increase Production The Minister of Petroleum Resources and Chairperson of the Board of Directors of the Nigerian National Petroleum Corporation, NNPC, Mrs. Diezani Al...

Iran plans to stop exporting crude oil
Posted On Aug 06 ,2012 - 08:54-AM | by admin

Iranian President Mahmoud Ahmadinejad said Iran should stop exporting crude oil and focus on selling refined oil products instead, a day after the US tightened sanctions on Tehran. "We must stop th...

Erbil reopened
Posted On Aug 06 ,2012 - 08:54-AM | by admin

The Kurdish government in Iraq announced Wednesday it would resume oil exports from the region later this week. Erbil had shut down exports in April, blaming the central government in Baghdad for with...

12 drilling rigs to be constructed in Brazil
Posted On Aug 06 ,2012 - 08:28-AM | by admin

Signature of contracts for the chartering and operation of 12 drilling rigs to be constructed in Brazil Petrobras entered into agreements with Sete Brasil, Queiroz Galvão, Petroserv, Odebrecht, ...

Nigeria’s crude oil output has increased from 2.4 million barrels per day (mbpd) to 2.7 mbpd
Posted On Aug 03 ,2012 - 08:49-AM | by admin

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, Monday disclosed that the country’s crude oil output has increased from 2.4 million barrels pe...

NNPC buys shares in OML 34
Posted On Aug 02 ,2012 - 08:17-PM | by admin

NNPC,in partnership with local firm ND Western, have bought a block onshore the Niger Delta operated by Shell. NNPC said in a statement that the block, OML 34, is one of the three blocks Shell has put...

Nigerian Investment Summit,London
Posted On Aug 02 ,2012 - 08:12-AM | by admin

Minister of Petroleum Resources and Chairperson of the Board of Directors of the Nigerian National Petroleum Corporation (NNPC), Mrs. Diezani Alison-Madueke, has stated that the new Petroleum Industry...

Kidnapping in Delta State
Posted On Aug 02 ,2012 - 08:54-AM | by admin

In Warri, Delta State yesterday as unknown gunmen seized a staff of Chevron Nigeria Limited. The victim, Chinedu Amadi, was seized along Refinery Road, Effurun, near Warri. The anti-kidnapping...

Lianzi field
Posted On Aug 01 ,2012 - 08:45-AM | by admin

Angola and ROC signs accord A subsidiary of Chevron will proceed with the development of the Lianzi field, located in a unitized offshore zone between Angola and the Republic of Congo (ROC). The go...

NNPC’s Data Centre Commissioned
Posted On Aug 01 ,2012 - 08:46-AM | by admin

Group Managing Director of NNPC, Engr. Andy Yakubu commissioned NNPC’s state of the art Data centre. Afterwards, the GM ISD, Mr Don Aholu explained that NNPC’s Data centre was built with best of ...

Total acquires interest in two exploration Blocks in Kurdistan Region of Iraq
Posted On Jul 31 ,2012 - 07:17-PM | by admin

Total announced the signature of a Farm-in Agreement in two exploration blocks in Kurdistan Region of Iraq. Total has completed an acquisition of 35% interest in two Blocks, Harir and Safen, held ...

Qatar Petroleum signs agreement with GDF SUEZ and PetroChina
Posted On Jul 30 ,2012 - 07:49-AM | by admin

On July 25, Qatar Petroleum (QP), representing the Government of the State of Qatar, signed an agreement authorizing PetroChina Investment to acquire from GDF SUEZ Exploration Qatar B.V. 40% of the ex...

Lagos Deep Offshore Logistics base (LADOL) handles $15.6 million rig maintenance job
Posted On Jul 30 ,2012 - 07:13-AM | by admin

261 jobs created The giant rig code-named Noble Percy Jones is expected to undergo a complete maintenance turnaround at the base for a period of ninety days after which it would be satisfied fit fo...

Nigeria signs Memorandum of Understanding with Vulcan Petroleum Resources
Posted On Jul 25 ,2012 - 07:01-AM | by admin

The Nigerian government has signed a Memorandum of Understanding with US firm Vulcan Petroleum Resources and Nigeria's Petroleum Refining and Strategic Reserve to build six new oil refineries in a dea...

Provision of water, hospitals and electricity should be standard
Posted On Jul 24 ,2012 - 07:38-AM | by admin

It is becoming increasingly clear that the government and multi nationals operating in the oil rich Delta region of Nigeria do not feel the need to improve the lives of the people in the region. Why i...

Crude oil theft in the Niger Delta region costs N2 trillion annually
Posted On Jul 24 ,2012 - 07:08-AM | by admin

President Goodluck Jonathan, who spoke at a presidential retreat on the maritime sector with the theme, ‘Harnessing the Potential of Nigeria’s Maritime Sector for Sustainable Economic Development...

Oil vessel explosion in Nigeria
Posted On Jul 23 ,2012 - 07:38-PM | by admin

Barely a week after a fuel tanker fire killed about 200 people in Port Harcourt, capital of the South South Rivers State in Nigeria, tragedy struck again Friday when a vessel carrying crude oil explod...

Pending Oil sector reform (PIB) update
Posted On Jul 23 ,2012 - 07:53-PM | by admin

Nigeria's Federal Gov't scraps two agencies in Oil sector The federal government has scrapped the Department of Petroleum Resources (DPR) and the Petroleum Products Pricing Regulatory Agency (PPPRA...

Arab Gas Pipeline explosion
Posted On Jul 23 ,2012 - 07:30-AM | by admin

The Arab Gas Pipeline was rocked by an explosion in the early hours of July 22 at al-Tuwail, east of the coastal Sinai town of al-Arish, at a point before the pipeline splits into separate branches to...

China shale gas exploration rights
Posted On Jul 18 ,2012 - 07:42-PM | by admin

Shell to bid for China shale gas exploration rights 25.1 trillion cu m of exploitable shale gas resources could meet country's gas demands for 200 years Royal Dutch Shell Plc is eager to part...

Oil exploration projects in the South China Sea
Posted On Jul 18 ,2012 - 07:00-PM | by admin

US firms may join CNOOC oil plans US companies may bid for oil exploration projects in the South China Sea, China's largest offshore oil explorer, China National Offshore Oil Corp, said on Tuesda...

Abu-dhabi bypasses strait-of-hormuz
Posted On Jul 18 ,2012 - 07:33-PM | by admin

Abu Dhabi started exporting its first crude from a pipeline that bypasses the Strait of Hormuz, shipping the fuel from the neighboring sheikhdom of Fujairah to a refinery in Pakistan. Abu Dhabi,U.A...

BRUNEI CONFERS ROYAL AWARD TO PETRONAS PRESIDENT AND EXECUTIVE VICE PRESIDENT
Posted On Jul 17 ,2012 - 07:50-AM | by admin

The Sultan of Negara Brunei Darussalam, His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, has conferred the Darjah Paduka Seri Laila Jasa to PETRONAS’ President & Chief Executive Off...

McDermott awarded two Saudi Aramco projects
Posted On Jul 17 ,2012 - 07:28-AM | by admin

The first project, known as Karan-45, McDermott will fabricate a new wellhead platform, auxiliary platform, jacket and link bridge in the Gulf. It is scheduled to be complete in the first quarter of 2...

NNPC award oil contracts to 50 to trading, refining, and marketing firms
Posted On Jul 16 ,2012 - 07:00-AM | by admin

NNPC awarded 50 companies 1.59 million bpd of oil for the period from August 2011 to July 2013, according to the Dow Jones Newswire report the deals are worth $159 million per day. The oil contra...

Sherman Glass to Retire as President of ExxonMobil Refining & Supply Company
Posted On Jul 16 ,2012 - 07:51-AM | by admin

Expected Appointment of Darren Woods as President of ExxonMobil Refining & Supply Company Mr. S.J. (Sherman) Glass, Jr., president, ExxonMobil Refining & Supply Company, and vice president, Exxon Mo...

Petrobras approves contract with Sete Brasil
Posted On Jul 16 ,2012 - 07:48-AM | by admin

Execution of contracts for the construction of six drilling rigs Petróleo Brasileiro S.A. – Petrobras informs that it was approved the execution of contracts with Sete Brasil for the con...

Chevron Issues Interim Update for Second Quarter 2012
Posted On Jul 12 ,2012 - 07:44-AM | by admin

Chevron Corporation (NYSE: CVX) today reported in its interim update that earnings for the second quarter 2012 are expected to be higher than first quarter 2012. Upstream results are projected to be l...

Nigeria Federal Government Finally Approves Petroleum Industry Bill
Posted On Jul 12 ,2012 - 07:47-AM | by admin

But still has to be sent to the National Assembly for consideration and passage into law The Federal Government has approved the Petroleum Industry Bill (PIB), which as part of its provisions will ...

Esso Exploration Angola begins production
Posted On Jul 11 ,2012 - 07:24-PM | by admin

Esso Exploration Angola has commenced production from the Kizomba Satellites Phase I project located in Block 15, offshore Angola.

The initial phase of the project is expected to produce 10...

Dolphin 3D seismic contract with Statoil in Tanzania
Posted On Jul 11 ,2012 - 07:02-AM | by admin

Dolphin Geophysical AS has received a Letter of Intent from Statoil for the acquisition of a 5500 km2 survey offshore Tanzania. The survey will be acquired by one of our high capacity 3D seismic vesse...

CGGVeritas Awarded Three-Year Contract in Oman
Posted On Jul 11 ,2012 - 07:42-AM | by admin

CGGVeritas announced June 8, that Ardiseis, its regional joint venture with TAQA in Oman and the wider Middle East region, has been awarded a three-year firm contract with an option for a further one-...

Malaysian drilling campaign by Lundin Petroleum
Posted On Jul 11 ,2012 - 07:05-AM | by admin

Lundin Petroleum announced Tuesday that it has begun its 2012 Malaysian drilling campaign with the spud Tiga Papan 5 well – which is located in the SB307 & SB308 blocks offshore Sabah, East Malaysia...

Tanker drivers embark on sit-down strike in Takoradi
Posted On Jul 10 ,2012 - 07:13-AM | by admin

The Ghana Petroleum Tanker Drivers Union (GPTDU) in the Western and Central regions, on Monday, embarked on a sit-down strike over the deplorable roads to oil installations in Takoradi. The Chairman ...

Ghana’s Oil and gas Contracts should be reviewed - IEA, CHRAJ and others
Posted On Jul 10 ,2012 - 07:43-AM | by admin

There is the need to review most of Ghana’s oil contracts which were signed as far back as 2005 to reflect current economic situations, Professor John Asafu-Adjaye, a Senior Fellow of the Institute ...

National Shipping Co. sole transporter of Saudi Aramco products
Posted On Jul 09 ,2012 - 07:53-AM | by admin

National Shipping Co. and Saudi Arabian Oil Co. (Aramco) have signed an agreement confirming that they will merge their fleets of oil tankers in a deal worth $1.3 billion. National Shipping will pa...

Nigeria, PRSR to Establish 2 Refineries Worth $4.5bn
Posted On Jul 09 ,2012 - 07:38-AM | by admin

The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with the Petroleum Refining and Strategic Reserve Limited (PRSR), a renowned America-Nigeria joint venture, for the con...

Kuwait Petroleum Corporation announces LNG prices for July
Posted On Jul 03 ,2012 - 07:03-AM | by admin

The Kuwait Petroleum Corporation (KPC) announced today prices of the Liquefied Natural Gas (LNG), propane and butane, for July. The Kuwait News Agency (KUNA) quoting a statement of the corporation ...

Nigeria signs $4.5bn refinery deal with Vulcan Energy
Posted On Jul 03 ,2012 - 07:24-AM | by admin

Nigeria on Monday signed a Memorandum of Understanding with Vulcan Energy to build six oil refineries, in a project worth 4.5 billion dollars, a government statement said. The deal between Vulcan E...

Stable Oil Price, Good for Producers, Consumers
Posted On Jul 03 ,2012 - 07:08-AM | by admin

Secretary-General of OPEC, Abdalla Salem El-Badri, has highlighted the importance of a stable price for both producers and consumers. He noted that it was conducive for global economic growth as it...

Venezuela to Explore for Oil off the Coast of Cuba
Posted On Jul 03 ,2012 - 07:06-AM | by admin

Petroleos de Venezuela SA (PDVSA) has signed a deal to explore of crude oil in the deep waters off Cuba. According to Rafael Ramirez, Venezuela’s oil minister and president of PDVSA ...

2012/2013 crude oil lifting contracts
Posted On Jul 03 ,2012 - 07:10-AM | by admin

The Nigerian Federal Government, through the Nigerian National Petroleum Corporation (NNPC), has decided to award nearly half of 2012/2013 crude oil lifting contracts worth $60 billion to Nigerian com...

Shell Most Targeted By Activists
Posted On Jun 30 ,2012 - 06:45-PM | by admin

Shell has become the brand most targeted by activist groups, according to a digital service that tracks NGO campaigns worldwide. Sigwatch, which monitors more than 4,000 activist groups globally, i...

Leader of a network of crude oil thieves in the Niger Delta arrested
Posted On Jun 30 ,2012 - 06:40-AM | by admin

Nigerian authorities said on Friday they had arrested the leader of a network of crude oil thieves in the Niger Delta responsible for several pipeline bombings against oil majors including Shell and E...

Ngamia-1 Drilling Onshore Kenya stops
Posted On Jun 30 ,2012 - 06:00-AM | by admin

Drilling of the Ngamia-1 well onshore Kenya by Tullow Oil has been halted after an “unexpected” geological formation was encountered. The Ngamia-1 well is the site of the country’s first oil dis...

Oando shares drops to nine-Year Low
Posted On Jun 30 ,2012 - 06:36-AM | by admin

Oando Plc (OANDO) shares dropped 5 percent, the daily limit, to 12.45 naira by 1:15 p.m. in Lagos, down for a third day. A close at that price would be the lowest since May 2003, extending the second-...

Black-Market Oil in Niger Delta
Posted On Jun 30 ,2012 - 06:01-AM | by admin

Nigerian security services have torched more than 900 illegal oil refineries in the country's coastal areas, but locals say business hasn't stopped. While oil companies and the government complain the...

Challenges security agencies face in combating crude oil theft in Nigeria
Posted On Jun 30 ,2012 - 06:35-AM | by admin

Serial negligence of security institutions, inadequate number of patrol ships, dilapidated equipment and the desperation of some Nigerians to make a living out of crime were yesterday identified as...

Tubarão Azul field, offshore Brazil
Posted On Jun 30 ,2012 - 06:20-AM | by admin

OGX defines flow rates from Tubarão Azul field, offshore Brazil Oil and gas company OGX has announced positive data from its wells located in the Tubarão Azul Field, offshore of Brazil, after a ser...

Andrew Yakubu vows to reposition the NNPC for better service
Posted On Jun 30 ,2012 - 06:02-AM | by admin

Nigerian president Goodluck Jonathan yesterday received a new Petroleum Industry Bill (PIB) at the State House. The Bill, which is due for presentation to the National Assembly in two weeks, was t...

French Guiana
Posted On Jun 28 ,2012 - 06:02-AM | by admin

Royal Dutch Shell PLC (RDSB.LN) said Wednesday it can start drilling appraisal wells off the coast of French Guiana after it received the necessary government approval. The move comes after the Fre...

New World Oil and Gas names Obasanjo as advisor
Posted On Jun 28 ,2012 - 06:22-AM | by admin

New World Oil and Gas plc has appointed Nigeria’s former president Olusegun Obasanjo as advisor. The company, focusing on investing and operating oil and gas assets, is believed to be searching for ...

Belgian ship stopped for crude oil theft
Posted On Jun 28 ,2012 - 06:07-AM | by admin

A Belgian ship and its 15-member crew have been arrested for allegedly stealing Nigerian crude oil, the Nigerian Navy (NN) confirmed. The ship, MT St Vanessa, was arrested off Brass/Akassa in the Bras...

Falling oil price fears weigh on Nigeria markets
Posted On Jun 28 ,2012 - 06:58-AM | by admin

The Naira, bonds and stock market are likely to see little relief in coming months due to falling oil prices. The naira has lost 4 percent since April, as offshore investors exit bonds, while its main...

Shell says Nigeria loses 5bn dollars to oil theft annually
Posted On Jun 26 ,2012 - 06:26-PM | by admin

Mr Mutiu Sumonu, the Managing Director of Shell Petroleum Development Company Nigeria Plc., said on Tuesday, in Abuja, that Nigeria was losing 5 billion dollars annually to oil theft. Sumonu spoke...

Austen Olusegun Oniwon of NNPC Fired
Posted On Jun 26 ,2012 - 06:39-PM | by admin

Engineer Austen Olusegun Oniwon the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC. has been sacked The Federal Government on Tuesday night fired the entire executi...

Nigeria oil workers threaten strike over insecurity
Posted On Jun 22 ,2012 - 06:06-PM | by admin

As the Islamic sect Boko Haram continues to carry out unbridled attacks in northern Nigeria, the country's White-collar oil workers have threatened to embark on a nationwide strike if the federal gove...

NNPC partner Shell Petroleum Development Company
Posted On Jun 21 ,2012 - 06:36-AM | by admin

Nigerian National Petroleum Corporation (NNPC) has said it will partner Shell Petroleum Development Company (SPDC) to boost the 250,000 barrels per day (bpd) crude oil production growth aspiration of ...

South Africa looks to Nigeria,Angola to replace Iran oil
Posted On Jun 21 ,2012 - 06:45-AM | by admin

South Africa is looking to source oil from Angola, Nigeria and Saudi Arabia to replace supplies from Iran, which is facing sanctions over its nuclear programme, a top energy official said on Friday. ...

Total’s Egina’s first oil for 2015
Posted On Jun 19 ,2012 - 06:12-AM | by admin

The Egina oil field located 150 kilometres off the coast of Nigeria and operated by Total, will deliver its first oil in 2015, as against 2014 earlier projected. This revelation followed the Nigerian ...

Nigeria’s crude oil production at 2.48 million barrels per day (bpd)
Posted On Jun 19 ,2012 - 06:08-AM | by admin

Nigeria’s crude oil production has risen significantly to peak at 2.48 million barrels per day (bpd), according to the Group Managing Director (GMD) of NNPC, Mr. Austen Oniwon Mr. Oniwon, who di...

Total Nigeria Falls to Three-Year Low on Profit Concern
Posted On Jun 15 ,2012 - 06:16-AM | by admin

Total Nigeria Plc, which distributes and markets fuel and petroleum products, fell to its lowest price in almost three years on concern profit growth will trail other industries as demand wanes, Vetiv...

Self reliance now key in some Oil producing companies
Posted On Jun 14 ,2012 - 06:50-PM | by admin

Petrobras has set a production record on 7 June 2012 at its refineries in Brazil, helping the country to cut oil product imports. The refineries processed a total of 2,029,021 barrels of oil per day, ...

PPPRA has reduces the number of importers from 42 to 39
Posted On Jun 14 ,2012 - 06:01-PM | by admin

Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the number of importers from 42 to 39. The reduction in the number of companies that participated in fuel importation in the first...

Oil price analysis
Posted On Jun 12 ,2012 - 06:11-AM | by admin

Shell Chief Executive, Mr. Peter Voser has predicted that oil prices in the second half of this year will fall as demand reacts to the slowing global economy and international political tensions ease....

Petroleum Industry Bill (PIB) update
Posted On Jun 12 ,2012 - 06:06-AM | by admin

The newly drafted Petroleum Industry Bill (PIB),reportedly provides for the establishment of Petroleum Host Communities Fund (PHCF) to be utilised for the development of the economic and social infras...

Sahara pumps 1st oil, expands trade east
Posted On Jun 12 ,2012 - 06:16-AM | by admin

Sahara Group has started pumping its first crude oil and plans to expand trading activities in the Middle East and Asia, the chief executive of its trading division said, as the centre of world oil de...

Statoil 'committed' to Gazprom's Russian offshore natural gas project
Posted On Jun 12 ,2012 - 06:07-AM | by admin

Statoil has expressed its commitment to work on the Gazprom's Shtokman gas extraction project offshore of Russia in the Barents Sea, despite rumours of the Norwegian oil and gas producer's possible pu...

Statoil and Abebe Ruling
Posted On Jun 06 ,2012 - 06:44-AM | by admin

The Lagos Division of the Court of Appeal Tuesday dismissed the appeal filed by a Norwegian oil firm, Statoil Nigeria Limited, challenging the judgment of a Federal High Court, that it should pay a ...

Secure natural gas supply only possible with secure partnerships – Wintershall
Posted On Jun 06 ,2012 - 06:50-AM | by admin

• Wintershall present at the 25th World Gas Conference in Kuala Lumpur • German-Russian joint venture Achimgaz has launched next phase of field development in Siberia • Further growth by foc...

Nigerian Jokers
Posted On Jun 01 ,2012 - 06:21-PM | by admin

The Petroleum Industry Bill, stuck in committee since 2009, was fast-tracked this year by President Goodluck Jonathan. Under the new law, anyone who "interferes" with the oil minister will be fined o...

Shell is to announce its exit from Libya
Posted On Jun 01 ,2012 - 06:42-PM | by admin

Shell "intends to suspend and abandon drilled wells and stop exploration in [its] Libyan licenses," a company spokesman said in a Dow Jones Newswires report. Despite its exit Shell insists that is ...

Canada is now the United State's top crude supplier
Posted On Jun 01 ,2012 - 06:25-PM | by admin

Changing patterns in U.S. crude imports U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formati...

U.S. purchases of Nigerian crude falls to a five-year low
Posted On May 28 ,2012 - 05:02-PM | by admin

Nigeria is losing the U.S. as its biggest oil customer amid surging output and refinery closures in North America. U.S. purchases of Nigerian crude fell to a five-year low in February, knocking the OP...

Bonny Light and Qua Iboe crude Prices
Posted On May 25 ,2012 - 05:02-AM | by admin

Nigeria reduced its June official selling price for Bonny Light and Qua Iboe crudes to a 10-month low, according to the Nigerian National Petroleum Corp. The price for the two benchmark blends will be...

Total Says Yemen LNG May Restart in 10 Days
Posted On May 25 ,2012 - 05:47-AM | by admin

Security Beefed Up Total SA (FP), the largest shareholder in the Yemen LNG gas-export venture, said the operation may resume next week as security is bolstered after a third explosion this year in ...

Nigerian Naira Hits Three-Month Low as Oil Import Demand Rises
Posted On May 25 ,2012 - 05:35-AM | by admin

The naira weakened to the lowest in more than three months, snapping two days of gains, after demand for dollars increased from oil importers and debt investors. The currency depreciated 0.3 percent t...

Oil Mining Licences renewals in Nigeria
Posted On May 25 ,2012 - 05:23-AM | by admin

The Federal Government is to renew the Oil Mining Licences (OMLs) for Shell Petroleum Development Company Limited (SPDC) and Chevron Nigeria Limited next month. Also in the same month, the Federa...

Africa Oil provides update on Puntland drilling
Posted On May 18 ,2012 - 05:33-PM | by admin

Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide an update on the drilling program in Puntland, Somalia.

The Shabeel well has reached a tota...

Shell commences repair of Nembe Creek Trunkline
Posted On May 18 ,2012 - 05:32-AM | by admin

Shell Petroleum Development Company of Nigeria Ltd Joint Venture (SPDC) has commenced the repair of Nembe Creek Trunkline (NCTL) after shutting it down on 2 May because of incessant crude theft activi...

Angola Signs MoU with Thailand
Posted On May 17 ,2012 - 05:03-AM | by admin

A MoU was signed in Bangkok between Thai Energy Minister Arak Chonlatanon and Angolan Petroleum Minister Jose Maria Botelho de Vasconcelos. The MoU covers joint development of human resources, lega...

NNPC, ExxonMobil sign $1.5b exploration financing deal
Posted On May 17 ,2012 - 05:21-AM | by admin

The Nigerian National Petroleum Corporation (NNPC) and ExxonMobil Nigeria Limited have signed $1.5b exploration financing agreement to boost the nation’s crude oil reserve and production. The agr...

Global Oil Reserves & Shale Oil Report Ed 1 2012
Posted On May 17 ,2012 - 05:34-AM | by admin

The new NRG Expert Global Oil Reserves and Shale Oil report looks at global oil reserves and shale oil by country and company. The Shale Oil market and to date production of shale oil has been mainly ...

Qatar buys stake in Shell
Posted On May 16 ,2012 - 05:34-PM | by admin

Qatar is ploughing more of its commodity wealth back into the sector with the purchase of a major stake in Royal Dutch Shell, while also reportedly eyeing a chunk of Italian oil major ENI. A Shell ...

North Sinai Petroleum Company Drills New Mediterranean Well
Posted On May 16 ,2012 - 05:50-PM | by admin

North Sinai Petroleum Company (NOSPCO) has drilled a new developmental well in the company’s concession in the Mediterranean Sea. The well, labeled TAO-SW-F ST-2, is part of the company’s 2011-201...

Emirates LNG
Posted On May 16 ,2012 - 05:41-PM | by admin

Mubadala Oil & Gas and International Petroleum Investment Company (IPIC) announced the establishment of a joint project, Emirates LNG, with the aim of securing additional gas supplies to meet energy d...

United Arab Emirates joins 11-member Gas Exporting Countries Forum
Posted On May 16 ,2012 - 05:37-PM | by admin

The Cabinet gave approval yesterday for the UAE's decision to join the Gas Exporting Countries Forum (GECF). The Gas Exporting Countries Forum is an intergovernmental organisation of 11 of the wor...

Afren stock jumped 6.1 percent in London trading
Posted On May 16 ,2012 - 05:34-PM | by admin

Afren Rises Most in Four Weeks on Nigerian Well Oil Find Afren Plc climbed the most in almost four weeks in London trading after saying it found oil at its Ebok North Fault Block exploration well o...

Nigeria Losing Fifth of Revenue to Oil Theft
Posted On May 15 ,2012 - 05:37-PM | by admin

Nigeria is losing nearly a fifth of its revenues to oil thieves, Finance Minister Ngozi Okonjo-Iweala was quoted as saying in the ThisDay Newspaper. "Bunkering is an activity we have to stop," Oko...

Afren announces successful Ebok North Fault Block exploration well result
Posted On May 15 ,2012 - 05:13-PM | by admin

Afren has announced that the Ebok North Fault Block exploration well, offshore south east Nigeria, has encountered 370 ft true vertical thickness (TVT) of net oil pay in excellent quality reservoir sa...

Qatar Petroleum Set to Invest in Egypt's Mostorod Refinery
Posted On May 15 ,2012 - 05:41-PM | by admin

Qatar is in “serious talks” about investing in Egypt’s Mostorod oil refinery project, the head of Qatar Petroleum International said. “If we’re going to invest, we’re going to pay mone...

Platts announces OPEC oil production climbs to 31.71 million barrels per day in April
Posted On May 15 ,2012 - 05:42-AM | by admin

Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed 320,000 barrels per day (b/d) to 31.71 million b/d in April from 31.39 million b/d in March, a just-released ...

Wentworth Resources announces Ziwani-1 exploration well drilling update
Posted On May 14 ,2012 - 05:18-PM | by admin

Further to Wentworth's announcement on 2 May 2012 regarding the Ziwani-1 exploration well in the Mnazi Bay Concession, Tanzania, the Company wishes to provide the following update on its assessment of...

Tap Oil announce extension of Offshore Accra contract area
Posted On May 14 ,2012 - 05:58-PM | by admin

Tap Oil Limited (Tap) is pleased to announce that the Ministry of Energy, Ghana has granted a 12 month extension of the Initial Exploration Period under the Petroleum Agreement in respect of the Offsh...

Shell and Chevron win Ukraine public bid for Shale gas
Posted On May 14 ,2012 - 05:16-PM | by admin

KYIV, Ukraine, May 13, 2012/PRNewswire/ --Two of the world's largest oil companies, Royal Dutch Shell plc and Chevron Corp, obtained the right to develop Ukrainian shale gas fields Yuzivske and Oleske...

Chevron First Quarter Report
Posted On May 01 ,2012 - 05:11-AM | by admin

Chevron Corporation (NYSE: CVX) reported earnings of $6.5 billion ($3.27 per share – diluted) for the first quarter 2012, compared with $6.2 billion ($3.09 per share – diluted) in the 2011 first q...

NNPC 2012/2013 crude oil lifting guidelines
Posted On Apr 30 ,2012 - 04:36-PM | by admin

The NNPC was accused by local operators of acting above the law when it deliberately issued 2012/2013 guidelines for crude oil lifting contracts to favour foreign contractors, prompting the interventi...

World oil demand growth revised downwards
Posted On Apr 30 ,2012 - 04:30-PM | by admin

Given the uncertainties surrounding the global economy, the forecast for world oil demand growth has been revised down from an initial 1.3mb/d to 0.9mb/d. The revision was amid higher OPEC production ...

Egypt , Israeli Gas Contract dispute
Posted On Apr 24 ,2012 - 04:21-PM | by admin

Egypt has terminated its natural gas supply to Israel in what it is being called a “business” dispute rather than a diplomatic dispute. The termination of the deal with Israel follows a series of ...

Ghana's natural gas expected bonanza
Posted On Apr 24 ,2012 - 04:44-PM | by admin

Vice President, John Dramani Mahama said that the country will bring in an estimated one billion dollars of revenue per year from natural gas production. Mahama, speaking at the Third Ghana Policy ...

Oil spill in the Niger Delta worse than reported
Posted On Apr 23 ,2012 - 04:47-PM | by admin

A major oil spill in the Niger Delta was far worse than Shell previously admitted, according to an independent assessment obtained by Amnesty International and the Centre for Environment, Human Rights...

Anadarko Petroleum finds Sierra Leone gas profitable
Posted On Feb 23 ,2012 - 02:33-PM | by admin

US oil and gas explorer Anadarko Petroleum has discovered 30m of hydrocarbon pay at the Jupiter-1 discovery well, off the coast of Sierra Leone. The Jupiter-1 well, located in block SL-07B-11, has ...

Exxon Mobil Corporation Announces 2011 Reserves Replacement
Posted On Feb 23 ,2012 - 02:01-PM | by admin

Exxon Mobil Corporation (NYSE:XOM) announced today that additions to its proved reserves in 2011 totaled 1.8 billion oil-equivalent barrels, replacing 107 percent of production. Excluding the impact o...

Nigeria's Oil production is set to reach 2.68 million barrels per day
Posted On Feb 23 ,2012 - 02:51-PM | by admin

Oil production is set to reach 2.68 million barrels per day 'within weeks', up from the current level of 2.5mbpd, according to Petroleum Resources Minister Diezani Alison-Madueke. The local media on W...

Chevron Nigeria gas well fire may burn for months
Posted On Feb 23 ,2012 - 02:55-PM | by admin

A gas-fuelled fire, with flames as high as 5m, may burn for months in waters off the Niger Delta in south-east Nigeria, Chevron has said. Two workers died after January's explosion at the KS Endeav...

Exxon signs Nigeria oil renewals
Posted On Feb 23 ,2012 - 02:34-PM | by admin

Exxon Mobil signed 20-year oil licence renewals on Nigerian assets producing around 550,000 barrels per day on Wednesday, the company's country manager said, ending months of negotiations. As wide-...

Nigeria to Invest $100 Billion in Oil and Gas Exploration
Posted On Feb 23 ,2012 - 02:49-PM | by admin

Nigeria is to spend $100 billion with its joint- venture partners Royal Dutch Shell Plc, Exxon Mobil Corp. and Chevron Corp. in the next five years to explore for crude and gas onshore and in deepwat...

Nigeria Labour Congress on fuel subsidy removal
Posted On Dec 21 ,2011 - 12:46-PM | by admin

Outcome Of Presidency - Labour Interactive Session The Presidency on Tuesday 20th December 2011 invited the Labour Movement comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (...

$380 billion lost in 30 years due to non-implementation of local content policy in Nigeria
Posted On Dec 21 ,2011 - 12:54-PM | by admin

Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Ernest Nwapa, who disclosed this at a capacity building workshop organised for members of the Local Content Co...

FMC Technologies secures subsea equipment contract offshore of Angola
Posted On Dec 20 ,2011 - 12:38-PM | by admin

FMC Technologies has signed a contract with BP to manufacture and supply subsea equipment for its ongoing deep water projects in offshore Angola. Under the contract, the company will supply four su...

ExxonMobil’s 2012 Outlook for Energy
Posted On Dec 20 ,2011 - 12:57-PM | by admin

Sees Efficiency, Developing World Economic Growth and Natural Gas Reshaping Global Demand through 2040 • Demand to be about 30 percent higher in 2040 versus 2010 as population grows and global GDP...

E&P Information and Data and Management Asia
Posted On Dec 20 ,2011 - 12:23-PM | by admin

SMi is pleased to present the 2nd annual conference E&P Information and Data and Management Asia held on the 25th and 26th April 2012 at the Grand Copthorne Waterfront Hotel, Singapore. Managing ups...

E&P Information and Data Management
Posted On Dec 20 ,2011 - 12:57-PM | by admin

6th & 7th of February 2012 Copthorne Tara Hotel, http://www.smi-online.co.uk/2012eandp53.asp Building upon the resounding and ever-growing success of their past 13 E&P Information and Data Man...

Oando Plc,completes 128-kilometre gas pipeline system
Posted On Nov 25 ,2011 - 11:27-AM | by admin

Nigerian indigenous oil company, Oando Plc, Monday made history with the successful completion of 128-kilometre gas pipeline system from Akwa Ibom to Cross River State, built by Oando Gas and Power, o...

Nigeria Pumps 2.6 Million Barrels of Oil a Day
Posted On Nov 25 ,2011 - 11:03-AM | by admin

Nigeria, said it currently produces 2.6 million barrels of crude a day, with 670,000 coming from its deep-offshore fields. Petroleum Minister Diezani Alison-Madueke reported the figures to a parliame...

Ghana Gas processing plant to be ready by December 2012
Posted On Nov 25 ,2011 - 11:33-AM | by admin

Accra, Nov. 24, GNA – Construction work is expected to commence early next year on the first gas infrastructure, including a gas processing plant that would represent a major boost to government’s...

NigerStar 7
Posted On Nov 22 ,2011 - 11:03-AM | by admin

Jagal, a Nigerian firm and Subsea 7 one of the largest offshore oil servicing companies in the world have floated a joint venture company known as Niger Star7 for the execution of large and comp...

S&P upgrades Petrobras’s credit rating
Posted On Nov 21 ,2011 - 11:18-PM | by admin

Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Standard & Poor’s (S&P) announced the upgrade of Petrobras’s global scale corporate credit rating from BBB- to BBB. This...

UK oil and gas industry
Posted On Nov 21 ,2011 - 11:54-PM | by admin

The UK oil and gas industry maintained its cautious outlook over the last two quarters of 2011 after the latest business confidence index fell to 53 in the third quarter (Q3) this year, compared with ...

South Sudan
Posted On Nov 21 ,2011 - 11:29-PM | by admin

South Sudan has sold 33.4 million barrels of oil for $3.2 billion for the period between July 9 and December 31 this year, the petroleum and mining ministry said on Monday. The country, which dec...

Onshore Nigeria oil fields sold to local firms
Posted On Nov 16 ,2011 - 11:25-PM | by admin

2 onshore Nigeria oil fields sold to local firms The Nigerian National Petroleum Corp. says two onshore oil fields once owned by Royal Dutch Shell PLC, Eni SpA and Total SA have been sold to loca...

Republic of Guinea
Posted On Nov 16 ,2011 - 11:40-PM | by admin

Hyperdynamics Corporation has begun a deepwater 3D seismic survey programme off the coast of the Republic of Guinea. Seismic contractor CGGVeritas will acquire and process 3D seismic data in a deep...

Africa needs investment not aid
Posted On Nov 16 ,2011 - 11:20-PM | by admin

Aburi, Nov 15, GNA- Mr AI Washington, the Executive Director of Africa-USA International Chamber of Commerce and Industry (AF-USA),has indicated that Africa needed trade investments and not aid to pro...

Amnesty International urges Shell Nigeria to start $1 billion oil clean up
Posted On Nov 14 ,2011 - 11:48-AM | by admin

"SPDC has publicly acknowledged that two oil spills that affected the Bodo community in 2008 were caused by operational issues," Shell spokesman Precious Okolobo said, adding that Shell estimated the ...

927 million barrels of oil in the Loma la Lata area
Posted On Nov 10 ,2011 - 11:34-PM | by admin

epsol YPF confirms the existence of significant volumes of non-conventional hydrocarbons in the Loma la Lata area, where Repsol YPF has rights to 12,000 km2. Exploration in an area of 428 km2 yield...

NNPC Enhances its Brand Through Effective Materials Management
Posted On Nov 09 ,2011 - 11:55-PM | by admin

The Group Executive Director (GED), Engineering and Technology, Engineer Billy Agha has called on Materials Management Professionals in NNPC to come up with better ways and means to handle Materials M...

Pipeline fire hits Shell output
Posted On Nov 09 ,2011 - 11:59-PM | by admin

A fire which has broken out on Shell’s Okordia/Rumuekpe oil pipeline in Nigeria has caused some production to be shut down, according to a spokesman for Shell said on Wednesday, with a spill also re...

CNPC provides aviation biofuels for successful airliner trial flight
Posted On Nov 09 ,2011 - 11:24-PM | by admin

On October 28, a Boeing 747 of Air China, using biofuels developed and produced by CNPC, landed at Beijing Capital International Airport after an hour’s trial flight. During the flight, a number of ...

Nigeria's PIB Update
Posted On Nov 09 ,2011 - 11:43-AM | by admin

Senate Meets NNPC, PPPRA, Oil Majors In its bid to drive reforms in the oil sector ahead of the consideration of the Petroleum Industry Bill (PIB), which has lingered in the National Assembly since...

OPEC Crude Oil Output Hits 30.05mbpd in October
Posted On Nov 09 ,2011 - 11:16-AM | by admin

Crude oil output of the Organisation of Petroleum Exporting Countries (OPEC) rose by 50,000 barrels per day (bpd) in October to 30.05 million b/d (mbpd) up from 30mbpd in September, as recovering prod...

Oil tanker MT Halifax that was seized by suspected pirates has been found
Posted On Nov 08 ,2011 - 11:41-AM | by admin

An official of Nigerian Maritime Administration and Safety Agency (NIMASA), Lami Tumaka said that the vessel was found on Saturday. According to Tumaka, the vessel had sailed about 97 kilometres a...

National Oil Company of Equatorial Guinea
Posted On Nov 04 ,2011 - 11:34-AM | by admin

Ophir Energy's production sharing contract for block R in Equatorial Guinea has been amended and expanded by 46% to incorporate 773km2 of additional acreage. Ophir's partner, the National Oil Compa...

Nigerian National Petroleum Corporation (NNPC) Audited Accounts
Posted On Nov 04 ,2011 - 11:03-AM | by admin

The Accountant General of the Federation (AGF), Mr. Samuel Orkura named the Nigerian National Petroleum Corporation (NNPC) and the Economic and Financial Crimes Commission, (EFCC) as some of the agenc...

Dry well in block Marine XI Congo, offshore Congo
Posted On Nov 04 ,2011 - 11:00-AM | by admin

Lundin Petroleum has encountered a dry well in block Marine XI Congo, offshore Congo. Mindou Marine-1, which was spudded to a total depth of 3,515m, did not encounter oil shows in the target pre-sa...

NNPC deducted N862 billion illegally in four years
Posted On Nov 04 ,2011 - 11:41-AM | by admin

Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mrs Zainab Ahmed, yesterday stunned members of the House of Representatives. She said that NEITI’s audit rep...

Scale of Oil Theft in Nigeria
Posted On Nov 04 ,2011 - 11:12-AM | by admin

Nigeria's military said Monday it has seized a ship laden with 5,000 tonnes of stolen oil and 30 barges amid rising cases of crude theft in one of the world's main oil producing regions. The spokesman...

Shell awards $50 million contract to Nigerian firm
Posted On Nov 04 ,2011 - 11:45-AM | by admin

Royal Dutch Shell said on Monday it had awarded a 7.8 billion Nigerian naira ($49.9 million) contract to Nigerian firm S.C.C Limited for the manufacture of line pipes, in an effort to boost local prod...

Niger Delta killings
Posted On Nov 04 ,2011 - 11:35-AM | by admin

Shell Petroleum Development Company (SPDC) yesterday refuted the allegations contained in the Platform Report that it was involved in funding killings and clashes in the Niger Delta, stating that the...

offshore Cameroon
Posted On Oct 24 ,2011 - 10:52-AM | by admin

Bowleven has encountered oil at the Sapele-3 appraisal well on block MLHP-5 l in the Doula basin, offshore Cameroon. The well, which lies within the Etinde permit, intersected 11m of net hydrocarbo...

Ratio Oil Exploration
Posted On Oct 24 ,2011 - 10:31-AM | by admin

Ratio Oil Exploration and Isramco Negev 2 have discovered natural gas in their Or 1 well in the Med Yavne prospect, offshore Israel. The well, which is located in the Or 1 licence, intersected gas-...

Nigeria Denies Involvement in Indonesian Refinery Project
Posted On Oct 24 ,2011 - 10:34-AM | by admin

Nigeria denied a report in the October 12 edition of The Jakarta Post in Indonesia which claimed that it will invest $2.68 billion in three refineries in that country as reported by SaharaReporters.co...

Shell to Reduce Flaring, Boost Nigeria Natural-Gas Output Within a Year
Posted On Oct 24 ,2011 - 10:44-AM | by admin

Shell Plc, plans to boost its natural-gas production in the country as it starts a new facility and cuts flaring, or the burning of the fuel at fields. They plan to increase daily output to one bi...

Oil market stable after Gaddafi death
Posted On Oct 24 ,2011 - 10:17-AM | by admin

There was little sustained reaction on oil markets following the death of former Libyan leader Moamar Gaddafi, but an end to conflict there could speed restoration of oil exports. There was a momentar...

Russneft plans investment in Nigerian oil
Posted On Oct 24 ,2011 - 10:44-AM | by admin

Russian oil and gas firm Russneft, which is partly owned by oil-to-telecoms group Sistema , told Nigeria's vice president on Thursday it was ready to invest in Africa's largest oil and gas industry. "...

Pancontinental completes Kenyan licence farmout
Posted On Oct 11 ,2011 - 10:43-PM | by admin

Pancontinental Oil & Gas has completed a farmout of part of its interest in Kenyan licence L8 to Tullow Kenya, a wholly owned subsidiary of Tullow Oil. Under the agreement, Tullow will farm in a 10...

Nigeria’s Crude Oil Reserves Are Dwindling
Posted On Oct 11 ,2011 - 10:47-PM | by admin

The Nigerian Association of Petroleum Explorationists (NAPE) has said the country’s crude oil reserves were dwindling because the Federal Government, through the Department of Petroleum Resources (...

Libya's National Oil Corporation (NOC)
Posted On Oct 11 ,2011 - 10:26-PM | by admin

Libya's National Oil Corporation (NOC) according to reports by Reuters, said on Tuesday it will give priority to sending crude oil to domestic refineries in the early stage of ramping up production an...

Nigeria’s external reserves dips
Posted On Oct 05 ,2011 - 10:03-AM | by admin

The value of Nigeria’s external reserves has been put under pressure as a result of the continuous decline in oil prices in the international market. According to THISDAY reports, checks showed t...

Libya's post-Gadhafi rulers name new Cabinet
Posted On Oct 04 ,2011 - 10:12-PM | by admin

Libya's transitional leaders named a new Cabinet Monday and vowed to step down after the country is secured, a move designed to show the North African nation is moving on even though fighting persists...

Eni pipeline damaged
Posted On Oct 04 ,2011 - 10:00-PM | by admin

But no force majeure A pipeline in Nigeria's onshore Niger Delta owned by Italian energy group Eni has been damaged, local industry sources and witnesses said, but the company said it planned no fo...

ExxonMobil Nigeria Attack
Posted On Oct 03 ,2011 - 10:11-AM | by admin

ExxonMobil Nigeria reported that a vessel supplying one of its platforms offshore was attacked by gunmen. One worker was seized while another was wounded. “The incident has been reported to secur...

China, Tanzania Sign $1bn Gas Pipeline Deal
Posted On Oct 03 ,2011 - 10:57-AM | by admin

China and Tanzania have signed a $1 billion loan agreement to build a major natural gas pipeline in east Africa's second-biggest economy, a Tanzanian newspaper quoted the country's energy minister as ...

Positive Oil Supply Developments in West Africa
Posted On Sep 30 ,2011 - 09:46-PM | by admin

Positive Oil Supply Developments in West Africa With the recent focus on supply disruptions and the potential for continuing unrest in North Africa and the Middle East, several positive developments ...

Shell Commits N4.3bn to Projects in Bayelsa
Posted On Sep 30 ,2011 - 09:21-PM | by admin

The Shell Petroleum Develop-ment Company (SPDC) yesterday said it had committed N4.324 billion to development projects under the Global Memorandum of Understanding (GMoU) in Bayelsa State as at June, ...

Shipping, oil production, and investment in Africa
Posted On Sep 23 ,2011 - 09:15-AM | by admin

Piracy in the Gulf of Guinea is not on the scale of that off Somalia, but analysts say an increase in scope and number of attacks in a region ill-equipped to counter the threat could affect shipping a...

Ghana’s GDP for second quarter up 34 per cent
Posted On Sep 23 ,2011 - 09:14-AM | by admin

Accra, Sept. 22, GNA – The seasonally adjusted real Gross Domestic Product (GDP) in the second quarter of 2011 closed at 34 per cent up compared to 31.5 per cent recorded in the same quarter in 2010...

Sanctions on Syria
Posted On Sep 23 ,2011 - 09:09-AM | by admin

unlikely to significantly impact international oil markets Syria has recently become the target of tightened international sanctions prohibiting its oil exports to the United States and European Unio...

Shell has no plans to invest in refining in Nigeria
Posted On Sep 23 ,2011 - 09:49-AM | by admin

Shell Petroleum Development Company (SPDC) yesterday said that it had no plan to invest in crude oil refining in Nigeria. Mr Mike Mullier, Global Leader (Crude Trading) in SPDC, disclosed this to news...

OPEC’s $1 Trillion Cash
Posted On Sep 21 ,2011 - 09:38-AM | by admin

Saudi Arabia will spend $43 billion on its poorer citizens and religious institutions. Kuwaitis are getting free food for a year. Civil servants in Algeria received a 34 percent pay rise. Desert citie...

NEITI to Probe Status of Un-reconciled $5bn Revenue
Posted On Sep 21 ,2011 - 09:42-AM | by admin

Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed that it would commence probe into the status of the complaint lodged by a group of Civil Society Organisations (CSOs) on th...

MOSOP Bars Oil Firms from Ogoniland
Posted On Sep 20 ,2011 - 09:55-AM | by admin

The Movement for the Survival of the Ogoni People (MOSOP) has vowed to apply what it described as “justifiable stiffer resistance,” against attempts by the Federal Government through the Nigerian ...

OPEC Predicts Drop in World Oil Demand
Posted On Sep 20 ,2011 - 09:56-AM | by admin

In its September oil market report, the group lowered its world oil demand forecast by 150,000 barrels per day for 2011 and by 40,000 barrels per day for 2012 as according to it, the weaker global eco...

Nigerian Content 2011
Posted On Sep 19 ,2011 - 09:37-PM | by admin

The Nigerian Content Act has been set up to ensure the petroleum industry creates local value and offers maximum benefit to Nigerians. The impact will be felt nationally as increased job creation e...

Total to remain a strong force in Ghana’s energy sector – New MD
Posted On Sep 19 ,2011 - 09:41-PM | by admin

Total Petroleum Ghana new Managing Director, Guillaume Larroque has pledged the company’s commitment to enhance service delivery nationwide pledging the renewal of its joint campaign with the Ghana ...

Ghana Minister inaugurates committee on petroleum revenue
Posted On Sep 19 ,2011 - 09:13-AM | by admin

Finance Minister Dr Kwabena Duffuor has inaugurated a 13-member Public Interest and Accountability Committee (PIAC) to provide an independent assessment of how petroleum revenues are managed and used....

Oil and Gas Cyber Security Forum 2011
Posted On Sep 15 ,2011 - 09:25-AM | by admin

Oil and Gas Cyber Security Forum will take place on Monday 21st and Tuesday 22nd November at the Copthorne Tara Hotel in London.

The speaker line-up of industry experts includes Salem Elwi,...

Conoil Stock Undervalued by 38%, Says Analyst
Posted On Sep 15 ,2011 - 09:00-AM | by admin

An in-depth analysis of the share price of Conoil Plc done by Apel Asset and Trust Limited, a member of the Nigeria Stock Exchange, has indicated that the price of the petroleum products marketing f...

Northern Offshore secures drillrig contract from CNOOC
Posted On Sep 15 ,2011 - 09:44-AM | by admin

Northern Offshore has secured a contract from CNOOC Palung Aru for its Energy Searcher rig to be used to drill a well offshore Indonesia. The rig was contracted for 60-90 days, including travel ti...

Boko Haram: Nigerian Navy, JTF beef up security around oil installations
Posted On Sep 13 ,2011 - 09:58-PM | by admin

Operatives of the Joint military Task Force (JTF) codename Operation Restore Hope and their counterparts in the Nigerian Navy Ship (NNS) in Delta State have been placed on red alert, especially around...

Lundin Petroleum spuds first well in Marine XI Congo-Brazzaville
Posted On Sep 13 ,2011 - 09:14-AM | by admin

Lundin Petroleum has begun drilling exploration well Mindou Marine-1 on the Marine XI block, offshore Brazzaville, Democratic Republic of Congo. The well, which is the first of a two-to-three well ...

Cameroon signs agreement with Petrobras
Posted On Sep 13 ,2011 - 09:21-AM | by admin

Cameron has renewed a contract with Petrobras to continue to supply aftermarket services and support for its developments offshore Brazil. The agreement is a continuation of the CAMSER aftermarket...

Power projects for 4,000mw 80% completed
Posted On Sep 13 ,2011 - 09:06-AM | by admin

The Nation newspaper quoted Information Minister Labaran Maku as saying that all power projects that would give the country over 4,000 megawatts of electricity had reached 80 per cent completion stage...

Nigeria's Federal Government to build coal-powered stations
Posted On Sep 13 ,2011 - 09:17-AM | by admin

Government's plan to build three coal-powered stations, capable of generating 3,000 megawatts of electricity, and the discovery of a bomb-making factory highlighted newspaper reports in Nigeria last w...

Petroleum Industry Bill (PIB) Delays
Posted On Sep 13 ,2011 - 09:17-AM | by admin

Gazprom May Suspend $2.5 Billion Gas Project in Nigeria Due to the Nigerian government’s ongoing delay in passing the Petroleum Industry Bill (PIB), Russian state-owned natural gas company Gazpro...

Nigerian politicians profit from oil theft: WikiLeaks
Posted On Sep 13 ,2011 - 09:55-AM | by admin

Nigeria's political elite and soldiers have profited from large-scale oil theft in the Niger Delta that may cost the country up to a tenth of its production, according to a leaked U.S. diplomatic cabl...

Nigerian FG okays $43.3m for OPEC fund
Posted On Sep 13 ,2011 - 09:08-AM | by admin

The Federal Executive Council (FEC) has approved the payment of $43.3 million to the Organisation of Petroleum Exporting Countries (OPEC), being the balance of Nigeria's contribution to OPEC Fund for ...

EIA to Release International Energy Forecasts
Posted On Sep 13 ,2011 - 09:49-AM | by admin

WHO: Howard Gruenspecht, Acting Administrator U.S. Energy Information Administration (EIA) WHAT: EIA presents updated projections of world energy supply and demand through 2035 with the re...

India Refiners Said to Skip Oil Purchases on Nigeria Disruptions
Posted On Sep 13 ,2011 - 09:22-AM | by admin

Two Indian refiners skipped crude purchases after Royal Dutch Shell Plc said "pipeline incidents" forced it to suspend some Nigerian crude export obligations, driving up prices, according to four trad...

Senegal Plans Offshore Oil Drilling in 2012
Posted On Sep 13 ,2011 - 09:50-AM | by admin

Energy companies operating in Senegal will drill three offshore wells next year as the West African nation vies to join a growing group of regional crude producers, according to the state-owned oil co...

Petroleum Marketing Monthly
Posted On Sep 13 ,2011 - 09:32-AM | by admin

Monthly price data show crude oil values continued to fall during June, following the across-the-board decline seen in May. June gasoline, distillate and aviation fuels prices show firm declines in a...

RWE Dea UK right on track with Breagh and Clipper South field developments
Posted On Sep 13 ,2011 - 09:55-AM | by admin

RWE Dea UK’s field developments Breagh and Clipper South are both progressing on schedule. On a visit to Heerema’s fabrication yard in Zwijndrecht (Netherlands) today, RWE Dea CEO Thomas Rappuhn e...

Ghana Tema refinery shuts unit, runs out of crude
Posted On Sep 13 ,2011 - 09:46-AM | by admin

Ghana's 45,000 barrel-per-day state-run Tema oil refinery shut its main crude distillation unit on August 28 after running out of feedstock, two sources with knowledge of the plant's operations told R...

BP Trinidad begins production from Serrette field
Posted On Sep 13 ,2011 - 09:29-AM | by admin

BP Trinidad and Tobago (BPTT) has started the production of natural gas from the Serrette field, offshore Trinidad. Production from the field is tied into BPTT's Cassia B hub through a 26in, 32 m...

Crude oil futures
Posted On Jul 28 ,2011 - 07:55-AM | by admin

Crude oil futures edged lower on Wednesday, as negotiations to raise the U.S. debt ceiling remained deadlocked and after industry data showed that U.S. crude supplies rose by the most in the three mon...

Nigerian benchmark crude oil differentials
Posted On Jul 27 ,2011 - 07:39-AM | by admin

Nigeria’s September Crude Oil Exports to Fall to Six-Month Low
Posted On Jul 27 ,2011 - 07:39-AM | by admin

Nigeria is scheduled to export 2 million barrels a day of 14 major crude grades in September, the lowest in six months, according to loading plans obtained. The country will ship 65 consignments in S...

Tullow Oil announces successful Ghana listing
Posted On Jul 27 ,2011 - 07:30-AM | by admin

Tullow Oil said Thursday that it has sold most of the shares it offered for a record stock market listing in Ghana. Tullow said in a statement that it sold more than 3.5 million ordinary shares for $7...

Shell says 100,000 bpd stolen in Nigeria
Posted On Jul 27 ,2011 - 07:25-AM | by admin

Shell estimates about 100,000 barrels per day of crude oil are being stolen from its operations in the Niger Delta, adding there was no sign that this figure is reducing. "We don't have any confirmed...

Nigeria's oil and gas Blueprint for reform and growth by Patrick Smith
Posted On Jul 27 ,2011 - 07:39-AM | by admin

Making the oil and gas industry productive and accountable are the priorities of President Goodluck Jonathan’s government. If he succeeds, Nigerian companies stand to benefit. Expectations of newly ...

Oil prices below $99
Posted On Jul 27 ,2011 - 07:14-AM | by admin

Asian stock markets fell Monday after U.S. political leaders failed to reach a deal on raising Washington's debt limit that is crucial to avoiding an impending default. Oil prices fell below $99 a bar...

Oil discovery at the Dussafu Ruche Marin-1 (DRM-1) well, Gabon
Posted On Jul 27 ,2011 - 07:58-AM | by admin

Harvest Natural Resources has made a second oil discovery at the Dussafu Ruche Marin-1 (DRM-1) well drilled in the Dussafu Marin PSC, offshore Gabon. Last month, the company encountered oil in the...

Vanco signs agreement in Sierra Leone Project
Posted On Jul 27 ,2011 - 07:41-AM | by admin

Vanco has signed a petroleum agreement with Oranto Petroleum to acquire a 21% interest in the SL-5-11 offshore block in Sierra Leone. The SL-5-11 block, which covers a 4,022km² area, has water dep...

Kerosene out of reach for oil-rich Nigeria's poor
Posted On Jul 27 ,2011 - 07:38-AM | by admin

The price of kerosene is so high a mother of four now builds a fire outdoors with wood instead. Gas stations in Nigeria advertise kerosene for 30 cents a liter, but it actually sells for about three t...

U.S. capacity increased during 2010 despite slow demand growth
Posted On Jul 27 ,2011 - 07:41-AM | by admin

Annual Refinery Capacity Report shows U.S. capacity increased during 2010 despite slow demand growth Over the course of 2010, U.S. refinery capacity grew by 0.15 million barrels per day, reaching ...

West African gas pipeline supplies 'erratic' says Ghana
Posted On Jul 27 ,2011 - 07:49-AM | by admin

Natural gas supplies by pipeline from Nigeria have been "erratic" so far this year, sometimes stopping altogether, Ghana's government has said. An average of 80,000 MMBtu per day have reached Ghanaian...

Nigeria & Algerian counterpart to meet on Sahara Gas Pipeline
Posted On Jul 27 ,2011 - 07:52-AM | by admin

Nigeria and Algeria plan to discuss the timeline for the construction of a trans-Sahara pipeline that will take natural gas from both countries to Europe at this week’s African Union summit in Equat...

Oil Revenue Ghana
Posted On Jul 27 ,2011 - 07:23-AM | by admin

The Deputy Energy Minister, Mr Emmanuel Armah Kofi Buah, has said that the excess revenue from the two crude oil consignments lifted from the Jubilee Oilfields would be used for social interventions i...

International Energy Agency sell off some of their reserves on the global market
Posted On Jun 27 ,2011 - 06:53-PM | by admin

Brent Crude dropped by almost $7 to $107.26 a barrel. The International Energy Agency, a group of 28 of the world’s richest oil-consuming countries, said its members are planning to sell off some of...

Ghanian Students assured of opportunities in oil industry
Posted On Jun 27 ,2011 - 06:38-PM | by admin

Speakers at the “Jubilee First Oil Exhibition” in Ho on Wednesday, asked students to take their studies seriously because Ghana’s emerging oil industry offers them a future of unlimited opportun...

Nigeria Oil marketers, governors push for end to fuel subsidies
Posted On Jun 27 ,2011 - 06:28-PM | by admin

Independent oil product marketers in Nigeria have urged the government to fully deregulate the downstream petroleum sector and abolish subsidies, so as to end fuel shortages, especially kerosene. The ...

WILL GHANA’S OIL LUBRICATE HER HOPES AND ASPIRATIONS?
Posted On Jun 27 ,2011 - 06:10-PM | by admin

A GHANA NEWS AGENCY FEATURE BY SAMUEL OSEI-FREMPONG Somewhere around the sprawling community of Lashibi, a young engineer bids his little daughter...

Mittal sued over Nigerian oil deal
Posted On Jun 27 ,2011 - 06:47-PM | by admin

Mittal is being sued for allegedly reneging on a multi-million dollar agreement to pay fees to a former friend for helping to secure an oil deal with a former Nigerian president. Lakshmi Mittal, has r...

IEA to release 60 million barrels of oil from its reserves
Posted On Jun 23 ,2011 - 06:23-PM | by admin

International Energy Agency said it will release 60 million barrels of oil from its reserves to make up for a loss of Libyan exports in global oil markets. The IEA, which includes the U.S., will re...

Ghana GDP Growth Accelerates to 23% as Oil Production Starts
Posted On Jun 23 ,2011 - 06:33-PM | by admin

Ghana's economic growth accelerated to an annual 23 percent in the first quarter as the nation began producing oil for export, the country's statistics agency said. Growth compared with 9.5 percent in...

Nigeria oil exports to rise to 5-1/2 yr high
Posted On Jun 23 ,2011 - 06:31-PM | by admin

Nigerian oil exports are set to rise in August to the highest level in more than 5-1/2 years, a provisional loading programme showed on Wednesday while benchmark Brent crude has been trading at high p...

Guyana Basin
Posted On Jun 23 ,2011 - 06:52-PM | by admin

Repsol is to invest $110m in drilling its first offshore well in the Guyana Basin. The company brought heavy-duty equipment to drill at Guyana and is targeting an area that is expected to contain ...

Nigeria slides to fifth position as supplier of crude to the United States
Posted On Jun 22 ,2011 - 06:10-AM | by admin

Nigeria has lost its position as the world’s third supplier of crude to the United States, among both OPEC and non-OPEC member countries, after Mexico, and Saudi Arabia, sliding to the fifth positio...

Nigeria's $75 per barrel benchmark for oil price in the 2011 budget
Posted On Jun 22 ,2011 - 06:10-AM | by admin

Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Monday frowned at the $75 per barrel benchmark for oil price in the 2011 budget. Sanusi who was quoted by Reuters, to hav...

NNPC and Shell Oil Blocks
Posted On Jun 22 ,2011 - 06:00-AM | by admin

NNPC, Nigeria's state-oil company said on Monday it would take over as the operator of oil blocks being sold by Shell, but one bidder nearing a deal expected one of its partners to be managing product...

Nigeria to Increase Qua Iboe
Posted On Jun 22 ,2011 - 06:00-AM | by admin

Bonga Oil Shipments in August Nigeria, a favored supplier of oil to U.S. refiners, plans to ship 12 cargoes of benchmark Qua Iboe crude in August, one more than July, according to a loading schedul...

ConocoPhillips signs with the Government of Bangladesh and Petrobangla
Posted On Jun 22 ,2011 - 06:08-AM | by admin

ConocoPhillips signed a production sharing contract with the Government of Bangladesh and Petrobangla, covering two blocks in the deepwater area of the Bay of Bengal. Blocks DS-08-10 and DS-08-11 ...

Nigeria’s Petroleum Industry Bill (PIB)
Posted On Jun 17 ,2011 - 06:33-PM | by admin

Total has resolved concerns with the Nigerian government over the country’s new hydrocarbon law and does not expect any delays to its major upstream projects, its strategy chief has said. Uncerta...

NZOG Receives a Permit in Gulf of Gabes
Posted On Jun 17 ,2011 - 06:34-PM | by admin

Tunisia's Minister of Industry and Technology has granted a permit to New Zealand Oil & Gas (NZOG) in the Mediterranean's Gulf of Gabes, off the coast of Tunisia. The company said it received an e...

CAMAC Energy has discovered gas at the ZJS-03 well in Ordos Basin in Shanxi Province, China
Posted On Jun 16 ,2011 - 06:05-PM | by admin

The well was drilled to a total depth of 1,598m, which confirmed the presence of gas in several intervals ranging in depth from 1,489m to 1,515m. The company is evaluating the electric logs and co...

Shale Reservoir Characterization in the Haynesville
Posted On Jun 16 ,2011 - 06:36-PM | by admin

CGGVeritas has developed an integrated geophysical approach to characterizing shale gas reservoirs, based on pre-stack azimuthal seismic data analysis calibrated with well log and core measurements to...

EIA June 2011 Short-Term Energy Outlook
Posted On Jun 16 ,2011 - 06:42-PM | by admin

Based on projections from the EIA June 2011 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $1,034 billion of net oil export revenu...

GE and Gehrlicher Solar Team up to Build Solar Parks Worldwide
Posted On Jun 14 ,2011 - 06:36-PM | by admin

Construction of First Project Underway in Aschheim, Germany GE (NYSE: GE) and Gehrlicher Solar today announced that the two companies have begun construction on a solar power plant in Aschheim, Ge...

Khartoum Offers Petronas New Opportunities
Posted On Jun 14 ,2011 - 06:40-PM | by admin

Petronas will have additional access to Sudanese acreage according to Sudan’s petroleum minister, Ali Ahmad Osman. Khartoum plans to offer the company more business opportunities “We have given...

Gazprom and GEPetrol
Posted On Jun 14 ,2011 - 06:13-PM | by admin

Gazprom Neft, has secured an exploration entry with the government of Equatorial Guinea. The company’s chairman, Alexander Dyukov and Candido Nsue Okomo, director general of GEPetrol, the national o...

Gabon discovery
Posted On Jun 14 ,2011 - 06:45-PM | by admin

Harvest Natural Resources, Inc. made a discovery in Gabon when drilling a wildcat well on the Dussafu Marin PSC. The company encountered oil with the Dussafu Ruche Marin-1 (DRM-1), which was spud to t...

Opening address to the 159th Meeting of the OPEC Conference
Posted On Jun 14 ,2011 - 06:19-PM | by admin

Vienna, Austria 08 Jun 2011 by HE Mohammad Aliabadi, Acting Minister of Petroleum of the Islamic Republic of Iran and President of the Conference Excellencies, ladies and gentlemen, Welcome to...

Shell in Nigeria declares force majeure after pipeline fires
Posted On Jun 14 ,2011 - 06:47-PM | by admin

Shell in Nigeria on Monday warned it may not be able to meet its contractual obligations for June and July on its Bonny Light crude, after multiple pipeline fires and leaks blamed on sabotage. The Ang...

Oil prices mixed amid Saudi hike, Nigeria outage
Posted On Jun 14 ,2011 - 06:32-PM | by admin

World oil prices diverged sharply on Monday as traders balanced expectations of rising Saudi Arabian output with news of a fresh supply outage in Nigeria. New York's main contract, light sweet crude f...

VRA appeals for allocation of portion of discovered gas
Posted On Jun 14 ,2011 - 06:29-PM | by admin

The Volta River Authority (VRA) on Tuesday appealed to the government for the allocation of a portion of the country’s gas find to fuel the company’s thermal plants. Mr Isaac Aidoo, Director, Huma...

Libyan government endorses African Union resolution plan
Posted On Jun 14 ,2011 - 06:01-PM | by admin

The Libyan government on Monday promised to implement proposals laid out by African countries to end the stalemate in the north African country, as well as draft a constitution and press law. The offi...

Market entry for RWE Dea in Trinidad and Tobago
Posted On Apr 26 ,2011 - 04:30-PM | by admin

As a result of the 2010 shallow water bid round in Trinidad and Tobago, RWE Dea has been awarded one of the country’s offshore blocks. The respective Production Sharing Contract has now been signed ...

Nigeria’s Oil Revenue Rose 46% to $59 Billion in 2010 on Improved Security
Posted On Apr 26 ,2011 - 04:49-PM | by admin

Nigeria’s oil exports rose 46 percent to 9.15 trillion naira ($59 billion) last year as prices increased and companies raised output on improved security in the Niger River delta, the National Burea...

Centrica has signed a production sharing contract with Trinidad and Tobago
Posted On Apr 26 ,2011 - 04:53-PM | by admin

Centrica has signed a production sharing contract with Trinidad and Tobago to explore, develop and produce hydrocarbons from the NCMA 4 block offshore the country. Centrica's Trinidad and Tobago m...

Foreign investment in Russian projects
Posted On Apr 26 ,2011 - 04:14-PM | by admin

Foreign investment in Russian projects is a win-win Despite the risks, Russian oil is once more where the action is for Western firms, with a spate of high-profile deals inked in the first quarter of ...

Fire on Noble rig off Nigeria
Posted On Apr 14 ,2011 - 04:29-PM | by admin

A fire on a Noble Corp shallow-water rig working for Exxon Mobil Corp off the coast of Nigeria will lead to five months of downtime for repairs, Noble said on Wednesday. The fire occurred on March 1...

AOS to outdoor state-of-the-art machine for oil industry
Posted On Apr 14 ,2011 - 04:09-PM | by admin

Africa Oilfield Services Ghana Ltd (AOS), a subsidiary of AOSOrwell will on Friday unveil a state -of -the -art machine shop in Takoradi. AOS operates a joint venture and partnership with internationa...

Training of the youth in Oil and Gas begins
Posted On Apr 14 ,2011 - 04:53-PM | by admin

About 6,300 people on Monday began training in the oil and gas industry to equip them with the necessary skills for the job market. Out of the number, 4,000 are beneficiaries of the National Youth...

Government Confirms and Extends Mira's Exploration Term
Posted On Apr 13 ,2011 - 04:49-AM | by admin

Mira Resources Corp. is pleased to announce that its partners, Dansaki Petroleum Limited ("DPL") and Associated Oil and Gas Limited ("AOGSL") have informed our wholly owned Nigerian subsidiary, Equino...

Nigeria Excess Crude Account increases to $6.9 billion
Posted On Apr 13 ,2011 - 04:49-AM | by admin

The Excess Crude Account (ECA), created to provide succour in rainy days, has increased to about $6.9 billion from about $3 billion in December last year. The Acting Accountant-General of the Feder...

Shell Awards Pipeline Contract
Posted On Apr 13 ,2011 - 04:44-AM | by admin

Thisdayonline reports: Shell Petroleum Development Company (SPDC) of Nigeria Limited has signed a contract with Saipem Contracting Nigeria Limited for a pipeline system that will gather associated ...

Shell awards fresh $101m pipeline contract in Nigeria
Posted On Apr 13 ,2011 - 04:07-AM | by admin

Nigerian Compass Newspaper reports: Shell Petroleum Development Company (SPDC) of Nigeria Limited has announced the signing of a $101 million contract with Saipem Contracting Nigeria Limited for a ...

N25b (Naira) credit facility, Access Bank vs. Zenon Petroleum and Gas Limited
Posted On Apr 13 ,2011 - 04:50-AM | by admin

Relationship between Access Bank Plc and Zenon Petroleum and Gas Limited,to which a N25 billion loan facility was extended has turned into a full-fledged legal battle. Access Bank Plc in a suit is ...

Access Bank collaborates with CWC Group to organise Oil and Gas Summit
Posted On Apr 13 ,2011 - 04:26-AM | by admin

Access Bank (Ghana) in line with its commitment to the development of the Ghanaian economy and support for the burgeoning oil and gas industry, is partnering the CWC Group, to host this year's Oil and...

Crisis in Arab World is victory for democracy
Posted On Apr 13 ,2011 - 04:17-AM | by admin

The Libyan Leader, Col Muamar Ghadafi until recently, can be said to have endeared himself to the Libyans for providing them with the needed public goods and services.Libya was regarded as a stable co...

Government Confirms and Extends Mira's Exploration Term
Posted On Apr 13 ,2011 - 04:32-AM | by admin

Mira Resources Corp. is pleased to announce that its partners, Dansaki Petroleum Limited ("DPL") and Associated Oil and Gas Limited ("AOGSL") have informed our wholly owned Nigerian subsidiary, Equino...

Saudis say Bahrain has right to seek help from Gulf Cooperation Council
Posted On Apr 06 ,2011 - 04:02-AM | by admin

Saudi Arabia on Tuesday said Bahrain had the right to seek assistance from the members of the Gulf Cooperation Council under agreements between them to restore peace and security and protect its ci...

Nigeria and Nuclear Energy
Posted On Apr 06 ,2011 - 04:33-AM | by admin

The Minister of State for Power, Nuhu Way, was quoted as saying "If we have so many other sources of energy that are untapped, why do we have to be talking of one that is not readily available and ...

$2 billion contract to Eni SpA’s Agip and Oando Plc
Posted On Apr 06 ,2011 - 04:10-AM | by admin

Nigeria awarded a $2 billion contract to Eni SpA’s Agip and Oando Plc to build a natural gas processing facility at Obiafu in the southern Rivers state. The plant will process wet gas from fields...

Nigeria aims to finish refinery upgrades end 2012
Posted On Apr 05 ,2011 - 04:23-PM | by admin

Nigeria expects to complete an upgrade and refurbishment of its oil refineries by the end of next year to double throughput, a senior official said. Philip Chukwu, executive director for refining and ...

Offers on Shell Petroleum Development Company (SPDC) OMLs 26, 30, 34, 40 and 42
Posted On Apr 05 ,2011 - 04:44-PM | by admin

Elcrest, a consortium comprising Starcrest Nigeria Energy Limited and Eland Oil and Gas Limited, had during the weekend emerged the successful bidder for OML 40. Shell Petroleum Development Company...

Adenuga's Conoil acquires SPDC’s 30 per cent stake in oil block
Posted On Apr 05 ,2011 - 04:16-PM | by admin

Dr. Mike Adenuga Jnr's Conoil Producing, has won Shell’s most prolific onshore oil block - Oil Mining Lease (OML) 30, emerging the third indigenous investor to clinch Shell’s asset in the company...

Less Oil Dependency Energy Future for the US
Posted On Apr 04 ,2011 - 04:17-AM | by admin

Obama Sets Out Energy Future for Less Oil Dependency President Barack Obama has vowed to reduce US oil imports by one-third in little more than a decade. He said in a speech in Washington that...

Kiwi well in El Dabaa Licence (block 9)
Posted On Apr 04 ,2011 - 04:07-AM | by admin

Statoil has completed drilling of the Kiwi well in Egypt's El Dabaa Licence (block 9) using the Discoverer Americas drillship. The exploration well, drilled at a water depth of 2,700m, will target...

Afren confident after Ebok field operations start
Posted On Apr 04 ,2011 - 04:47-AM | by admin

Afren said production operations at a key field in Nigeria have started, giving it confidence it would reach its output targets this year. Afren said oil production from its Ebok project started i...

West Cape Three Points licence, offshore Ghana
Posted On Apr 04 ,2011 - 04:01-AM | by admin

Tullow Oil has encountered 27m of net hydrocarbon bearing reservoirs in the Teak-2 exploration well in the West Cape Three Points licence, offshore Ghana. The exploration well was drilled targeting...

Nduom calls for petrochemical industry in Western Region
Posted On Apr 04 ,2011 - 04:39-AM | by admin

Dr Paa Kwesi Nduom, Convention People’s Party (CPP) presidential candidate in Election 2008, has called for the establishment of a petrochemical industry in the Western Region to boost industrialisa...

Ghanian Government pays Tema Oil Refinery debt to Ghana Commercial Bank
Posted On Mar 29 ,2011 - 03:51-AM | by admin

Mr Pryce Kojo Thompson, Board Chairman of the Ghana Commercial Bank, on Monday disclosed that Government has paid the remaining GH¢572 million owed to the bank by the Tema Oil Refinery (TOR). Address...

Iranian Oil Minister, ‘OPEC’ll Not Increase Crude Production’
Posted On Mar 29 ,2011 - 03:41-AM | by admin

Iranian Oil Minister Massoud Mirkazemi said the Organisation of the Petroleum Exporting Countries (OPEC) will not increase crude output. Mirkazemi, the OPEC rotating presidency, told Mehr News Agen...

Ghana and Turkey sign various agreements to strengthen bond
Posted On Mar 29 ,2011 - 03:11-AM | by admin

Ghana and Turkey on Thursday signed five agreements as part of the official visit of Turskish President Abdullah Gul, to Ghana, to enhance their diplomatic and bilateral relations. The agreements,...

Nagarjuna Fertilizers and Chemicals Limited sign petrochemical MoU with Nigeria
Posted On Mar 29 ,2011 - 03:00-AM | by admin

Nagarjuna Fertilizers and Chemicals Limited was among the companies that signed an agreement with the Nigerian Government for setting up petrochemical fertiliser plants in the country. As per the ...

FEED Contract with Technip
Posted On Mar 25 ,2011 - 03:10-PM | by admin

Chevron Signs FEED Contract with Technip for Indonesian Fields Chevron has signed a front-end engineering design contract with Technip for two floating production units in the Gendalo and Gehem ...

IPMAN signs Memorandum of Understanding (MoU) with Capital Oil and Gas Industries
Posted On Mar 25 ,2011 - 03:31-PM | by admin

Independent Petroleum Marketers Association of Nigeria (IPMAN) has signed a Memorandum of Understanding (MoU) with Capital Oil and Gas Industries, a leading player in the Nigerian downstream petroleum...

Gas Revolution: Rebirth of Nigeria’s Industrialisation
Posted On Mar 25 ,2011 - 03:45-PM | by admin

President launches Gas Revolution Launching the “Gas Revolution: Rebirth of Nigeria’s Industrialisation” at the Banquet Hall of the State House, Abuja, the President expressed optimism t...

India to step up its crude oil import from Nigeria by 36%
Posted On Mar 24 ,2011 - 03:04-PM | by admin

India will step up its crude oil import from Nigeria by 36% to 18 million tonne a year (mta) from 2012-13 onwards and is looking at importing liquefied natural gas (LNG) from the nation, that country...

Nigeria plans Major Expenditure in Petrochemicals, Fertilizer plants
Posted On Mar 22 ,2011 - 03:06-PM | by admin

Nigeria plans to spend $10 billion on 10 new plants in the petrochemical and fertilizer industries, Petroleum Minister Diezani Alison-Madueke told reporters today in Abuja, the capital. The projects i...

Ekulo Cheyenne at OML 123, Commences Work for Addax Petroleum
Posted On Mar 22 ,2011 - 03:38-PM | by admin

Kaztec Engineering Limited, an Abuja based engineering, procurement, construction, installation and commission (EPCIC) company and owners of Ekulo Cheyenne and Ekulo Tornado said that Ekulo Cheyenne i...

MTNW Completes Offshore Oil & Gas Project for Adamac
Posted On Mar 22 ,2011 - 03:26-PM | by admin

Measurement Technology Northwest (MTNW) announces major award from Adamac, a leading Nigerian Oil & Gas Services Company based in Port Harcourt. The project called for 9 running line tensiometers, dis...

Nigeria budget bill, oil production levels
Posted On Mar 18 ,2011 - 03:36-PM | by admin

Abuja lawmakers have passed the 2011 budget suggesting that oil production levels in the nation will remain at 2.3 million barrels a day throughout the year. The budget bill, given final approval plan...

Will Nigeria deliver on Petroleum Industry Bill?
Posted On Mar 18 ,2011 - 03:06-PM | by admin

THe Federal Government, at the Nigerian Oil and Gas (NOG) Conference last month were confronted as key industry stakeholders argued that the country must move ahead on a long-delayed overhaul of its p...

BNI investigates TOR case
Posted On Mar 18 ,2011 - 03:51-PM | by admin

The Bureau of National Investigations (BNI) is investigating allegations that a company paid by Tema Oil Refinery (TOR) for the supply of crude oil was not the actual supplier of the commodity. Th...

Ghana and four development partners sign $60 million grant agreement
Posted On Mar 18 ,2011 - 03:55-PM | by admin

Ghana and four development partners on Wednesday signed a memorandum of Understanding to provide the nation’s public financial management system with a $60 million grant over the next four years tow...

Libya holds around 44 billion barrels of oil reserves
Posted On Mar 17 ,2011 - 03:08-PM | by admin

Libya has the largest known oil reserves in Africa Libya's Al Zuwayya tribe in eastern area Libya said it would cut off exports if authorities did not stop violence against protesters Libya prod...

Total E&P, NAPIMS, Celebrate MV Osayame’s Zero LTI
Posted On Mar 17 ,2011 - 03:40-PM | by admin

The General Manager, National Petroleum Investments Management Services (NAPIMS), Mr. Morrison Fiddi has described the successful completion of one year operation of MV Osayame with zero down time, z...

NNPC has poorest transparency: study
Posted On Mar 17 ,2011 - 03:44-PM | by admin

Nigeria's state oil company had the poorest transparency record of 44 national and international energy companies evaluated in a report published by international watchdogs this week. Transparency Int...

Tema Oil Refinery officials cleared of Nigerian crude oil theft
Posted On Mar 17 ,2011 - 03:20-PM | by admin

Investigations by Ghana’s Bureau of National Investigations (BNI) have cleared top officials of the Tema Oil Refinery (TOR) of allegations of stealing and re-selling crude oil, bought by Ghana from ...

Militants Attack Agip Facility in Bayelsa
Posted On Mar 17 ,2011 - 03:51-PM | by admin

Multiple explosions rocked some oil pipelines belonging to the Nigeria Agip Oil Company (NAOC), a subsidiary of Italian oil giant, ENI Spa, in Bayelsa State Wednesday. Barely one week after the Movem...

OPEC May Meet Over Japan, Middle East Crises
Posted On Mar 17 ,2011 - 03:51-PM | by admin

Minister of Foreign Affairs, Mr. Odein Ajumogobia, said Wednesday that members of the Organisation of Petroleum Exporting Countries (OPEC) might meet to look into the effect of the nuclear crisis in J...

New Oil discovery in the coastal waters of Brunei
Posted On Mar 17 ,2011 - 03:46-PM | by admin

Brunei Shell Petroleum has made a new oil discovery in the coastal waters of Brunei. Brunei Shell Petroleum drilled the discovery using the Noble Phoenix drilling rig, which underwent refurbishment...

PetroSA is to begin drilling the F-O gas field
Posted On Mar 17 ,2011 - 03:45-PM | by admin

PetroSA is to begin drilling the F-O gas field off the southern coast of South Africa by the end of 2011 to maintain offshore production. PetroSA CEO Everton September told Bloomberg that the drill...

$2.1bn accrues to Excess Crude Account in seven weeks
Posted On Mar 16 ,2011 - 03:19-AM | by admin

Nigeria is estimated to have accrued $2.1 billion into its excess crude account (ECA) at the minimum, enabled by spikes in crude prices amid conflicts beginning mid-January in North Africa, Investigat...

Cameroon, Nigeria plan joint oil work
Posted On Mar 16 ,2011 - 03:45-AM | by admin

Cameroon and Nigeria agreed late on Friday to jointly exploit any oil and other cross-border reserves found in the Bakassi peninsula, with Nigeria proposing Chinese-owned explorer Addax Petroleum to h...

Saudi protest fears
Posted On Mar 16 ,2011 - 03:17-AM | by admin

Oil price up $115 on Saudi protest fears Oil prices surged more than $2 minutes after reports that police in Saudi Arabia had dispersed a demonstration in the city of Qatif, in the country’s oil-...

Ghana National Petroleum Lifts First Oil From Jubilee Field
Posted On Mar 16 ,2011 - 03:34-AM | by admin

Ghana National Petroleum Corp., the nation’s state-owned oil company, lifted its first crude from the offshore Jubilee field yesterday, said Chief Executive Officer Nana Boakye Asafu-Adjaye. The com...

OPEC Should Wait on Emergency Meeting
Posted On Mar 16 ,2011 - 03:54-AM | by admin

OPEC should wait to see how events in Libya unfold before calling an emergency meeting about prices and production, Angolan Oil Minister Jose Maria Botelho de Vasconcelos told reporters at an IHS Camb...

Seven Energy bidding for Shell field in Nigeria
Posted On Mar 16 ,2011 - 03:48-AM | by admin

Petrofac said its partner Seven Energy has bid for one of four oil blocks being sold by Shell in Nigeria, as the oil major looks to reduce its footprint in the country. "Seven bid for one of the bloc...

Nigerian oil reform bill delays
Posted On Mar 16 ,2011 - 03:32-AM | by admin

Rights groups demand quick passage of oil reform bill A coalition of civil society groups non-governmental organizations have teamed up to press their demand for the immediate passage of a new law ...

Nigerian security forces fight oil bandits
Posted On Mar 16 ,2011 - 03:33-AM | by admin

Nigerian forces destroyed what they believed were illegal oil refineries in the Niger Delta area as part of an effort to curb vandalism, a spokesman said. The illegal refineries were shoddy facilities...

Sanusi Says Increasing Oil Price not good for Nigeria
Posted On Mar 16 ,2011 - 03:09-AM | by admin

Nigerian central bank Governor Lamido Sanusi signaled he may raise interest rates for a second time this year as higher oil prices and state spending threaten to boost inflation, while the banking cri...

Merchant tanker arrested in Nigeria for stealing crude oil
Posted On Mar 16 ,2011 - 03:59-AM | by admin

Nigerian Navy Offshore Patrol Team has arrested a merchant tanker vessel, and its crew of 12 as well as three agents, with about 274 metric tonnes (274, 000 kilogrammes) of illegally-procured crude oi...

Saipem to Develop Saudi Aramco Offshore Fields in Arabian Gulf
Posted On Mar 16 ,2011 - 03:21-AM | by admin

Saipem is to develop Saudi Aramco's Arabiyah and Hasbah fields, which are located 150km north-east of Jubail in the Arabian Gulf. Work under the new contract covers the engineering, procurement, fa...

Chevron to Expand Escravos Gas to Liquid Project
Posted On Mar 01 ,2011 - 03:51-PM | by admin

Chevron said it would sign an engineering deal in the second quarter for the Phase 3B expansion of its Escravos Gas Plant. The 33,000 barrel per day (bpd) plant, which is being developed jointly with...

Oil rose to just over $99 a barrel today
Posted On Feb 28 ,2011 - 02:38-PM | by admin

US crude rose by $1.45 to stand at $99.33 a barrel, while Brent crude increased $1.79 to $113.92 a barrel by 12.35 ET, reports Reuters. Protests in Libya have reduced the country's production to th...

Government of Ghana to evacuate Ghanaians from Libya
Posted On Feb 28 ,2011 - 02:52-PM | by admin

Government has decided to evacuate the estimated 10,000 Ghanaian nationals in Libya by air and sea. The action is in view of the serious deterioration in the security situation in Libya and the repo...

Nigeria's $27 billion on oil windfall spending
Posted On Feb 28 ,2011 - 02:56-PM | by admin

Nigeria has spent more than $27 billion from its oil-windfall savings account in three years, significantly eroding the total and putting the financial health of the country and biggest oil producer u...

Nigeria, Angola Can't Immediately Replace Libya Oil
Posted On Feb 28 ,2011 - 02:46-PM | by admin

Angola and Nigeria can't immediately make up for missing shipments of Libyan oil, officials in the African countries said Friday. The news come after Saudi officials said Libya production shut down b...

Oil price @ $111 a barrel
Posted On Feb 24 ,2011 - 02:50-PM | by admin

The price of Brent crude oil has hit $111 a barrel, and US crude also rose in price, as worries persist about the unrest in Libya. Markets are concerned the trouble could worsen in key oil producing c...

International Oil workers and staff flown out of Libya
Posted On Feb 24 ,2011 - 02:09-PM | by admin

Owing to the current situation in Libya, all international staff members of RWE Dea AG have been flown out of Egypt. This also applies to the members of the core team that had recently remained in Tri...

CAMAC Energy Announces the Acquisition of Offshore Nigerian Contract Rights
Posted On Feb 23 ,2011 - 02:48-PM | by admin

CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, announced that on February 15, 2011, it completed the acquisition of the remaining...

Incentives for oil-producing communities in the Petroleum Industry Bill (PIB)
Posted On Feb 23 ,2011 - 02:11-PM | by admin

The Nigerian Government has said oil-producing communities will earn about N1.1 billion as annual dividend payments from oil revenues as part of incentives in the much-anticipated Petroleum Industry B...

US offshore royalties
Posted On Feb 23 ,2011 - 02:14-PM | by admin

US offshore royalties paid by oil and gas firms for offshore production is expected to increase by 68% under the 2012 budget. The government plans to charge oil firms for drilling permits and insp...

Oil prices holding steady
Posted On Feb 23 ,2011 - 02:01-PM | by admin

Oil prices were holding steady early Wednesday as investors keep an eye on events in the Middle East. Crude futures for April delivery edged up 50 cents, to $95.92 a barrel in electronic trading i...

Daewoo wins $250m Nigeria’s gas project
Posted On Feb 22 ,2011 - 02:51-PM | by admin

Daewoo Engineering & Construction Co. Ltd in Nigeria said yesterday that it had secured a $250 million order from the Shell Petroleum Development Company (SPDC) joint venture in Nigeria to build a gas...

GOIL takes a giant step into aviation fuel market
Posted On Feb 22 ,2011 - 02:22-PM | by admin

The Ghana Oil Company Limited (GOIL) on Monday said it had taken a giant leap into the country’s aviation fuel industry, controlling over 30 per cent of market shares in Ghana. “GOIL becomes the f...

Bonga Floating, Production, Storage and Offloading, FPSO vessel
Posted On Feb 22 ,2011 - 02:45-PM | by admin

Shell Nigeria Exploration and Production Company, SNEPCo, operated Bonga Floating, Production, Storage and Offloading, FPSO vessel is scheduled to shut down for 4 weeks for the first of a 5 yearly rou...

ExxonMobil said its oil and gas reserve additions last year more than doubled Its production levels
Posted On Feb 22 ,2011 - 02:21-PM | by admin

Its biggest increase in more than a decade. ExxonMobil in a report last week said its reserve base hit 24.8 billion barrels of oil equivalent, following an increase in its proven reserves by 3.5 bi...

World heading for an oil drought?
Posted On Feb 22 ,2011 - 02:03-PM | by admin

Shell seems to think so. Shell said the world is heading for an oil drought as global appetite for energy is likely to rise far more rapidly than available supply in coming decades. Shell Vice-Pres...

Compliance with provisions of the Nigerian Content Act
Posted On Feb 18 ,2011 - 02:12-PM | by admin

Nigerian Content Department Management Board (NCDMB) has asked International Oil Companies (IOCs) operating in Nigeria to provide it with concrete strategies that they had developed and adopted to ens...

Uruguay Round II: ANCAP presented in Houston a Data Room of its next offshore E&P bid
Posted On Feb 17 ,2011 - 02:17-AM | by admin

As was the case in Rio de Janeiro, in Houston several of the major players of the oil industry covered the data show of ANCAP that was held on February 14 in the Hilton Americas – Houston. According...

Ericsson Biofuel project in Nigeria
Posted On Feb 17 ,2011 - 02:41-AM | by admin

Ericsson has stated that the biofuels initiative it tried to embark upon in Nigeria in 2007, could not be the realised because of concerns with issues of food security. Vice President of Ericsson's...

NNPC will require N600 billion to build new gas infrastructure
Posted On Feb 17 ,2011 - 02:45-AM | by admin

Nigerian National Petroleum Corporation (NNPC) will require N600 billion to build new gas infrastructure to meet the country’s power generation needs. NNPC’s Managing Director, Mr. Austin Oniwo...

Total to increase it presence in the Democratic Republic of Congo (DRC)
Posted On Feb 16 ,2011 - 02:25-PM | by admin

The company is currently in talks to join a consortium led by South African firm SacOil. "Talks are underway, but no deal has been signed. As such it is too early to comment," a Total spokeswoman i...

Discovery in blocks SK316 and SK306 offshore Sarawak in Malaysia
Posted On Feb 16 ,2011 - 02:27-PM | by admin

Petronas has discovered oil and gas in blocks SK316 and SK306 offshore Sarawak in Malaysia after drilling the NC3 and Spaoh-1 wells. The NC3 wildcat well, which was drilled in March 2010, and a sub...

Discovery at the Teak-1 exploration well
Posted On Feb 16 ,2011 - 02:06-PM | by admin

Anadarko Petroleum has discovered oil and gas at the Teak-1 exploration well in the West Cape Three Points Block, offshore Ghana. The well was drilled to a total depth of 10,400ft in water depths ...

Ghana aims to pass oil bill shortly
Posted On Feb 16 ,2011 - 02:22-PM | by admin

Ghana's parliament is hoping to pass an oil revenue bill within days after wrangling over key issues delayed it from late last year, parliamentary spokesman Jones Kugblenu said. Ghana joined the ranks...

Nigerian National Petroleum Corporation reduces Contracting cycle timeframe
Posted On Feb 16 ,2011 - 02:22-PM | by admin

Nigerian National Petroleum Corporation (NNPC) said it had recorded appreciable reduction in the contract cycle time for oil and gas projects from 24 months to an average of 10 months. It also note...

Exploration of crude oil in Sokoto and Chad basins
Posted On Feb 16 ,2011 - 02:07-PM | by admin

Nigerian Federal Government is intensifying efforts to explore crude oil in Sokoto and Chad basins because of emerging new technology in oil exploration and a renewed assurance by Chinese oil explorer...

Global oil supply Increases
Posted On Feb 16 ,2011 - 02:49-PM | by admin

Global oil supply rose last month to 88.5 million barrels per day (bpd) boosted by production increases from two members of the Organisation of Petroleum Exporting Countries (OPEC). World oil dema...

NNPC spill clean up
Posted On Feb 16 ,2011 - 02:36-PM | by admin

Nigerian National Petroleum Corporation, (NNPC) has said over 450,000 litres of premium motor spirit (PMS) have been drained from an oil leak site at Isheri Olofin, a Lagos suburb by a combined team o...

OPEC says oil prices in 2011 has little to do with political unrest in the Middle East
Posted On Feb 16 ,2011 - 02:09-PM | by admin

OPEC said it was raising oil production by 400,000 bpd to 29.7 million barrels in response to rising prices. OPEC enacted a quota on oil production to control sliding prices and prices have stead...

OPEC Compliance With Production Quotas Fell to 48% Last Month
Posted On Feb 12 ,2011 - 02:47-PM | by admin

OPEC’s compliance with output quotas agreed to in 2008 fell last month as increased production from Saudi Arabia, Angola and the United Arab Emirates offset drops in Nigeria and Iran. Daily output f...

Tullow Oil Makes New Discovery off Ghana
Posted On Mar 22 ,2011 - 03:13-PM | by admin

Tullow Oil has made a new hydrocarbon discovery with the first well on its 2011 multi-well exploration campaign in the West Cape Three Points licence, offshore Ghana. The Teak-1 exploration well ha...

Sudan investors prepare for great oil divide
Posted On Feb 12 ,2011 - 02:15-PM | by admin

Dividing up Sudan’s oil industry between north and south is emerging as a challenge akin to separating conjoined twins, a fact that has heavily invested Chinese interests uneasy as the country prepa...

Noble Energy has discovered natural gas at the Leviathan exploration prospect offshore Israel
Posted On Feb 12 ,2011 - 02:30-PM | by admin

The well spud in the Rachel licence encountered a minimum of 220ft of net natural gas pay in several subsalt Miocene intervals. Apparent reservoir quality is very good and the intervals discovered...

Nigerian, Brazilian oil firms seal crude oil refining pact
Posted On Feb 12 ,2011 - 02:24-PM | by admin

Nigerian National Petroleum Corporation (NNPC) has concluded arrangements to export refined petroleum products to the US and other parts of the world, under a strategic partnership with Brazil’s oil...

NNPC made profit from govt says audit
Posted On Feb 07 ,2011 - 02:00-PM | by admin

Nigeria's state-run oil firm used its unique trading position to make profits at the expense of the government between 2006 and 2008, according to an independent audit of Nigeria's oil sale payments. ...

Shell annual profits double to $18.6 billion
Posted On Feb 07 ,2011 - 02:04-PM | by admin

The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (£11.5bn) for 2010 partly thanks to rising oil prices and output. Its chief executive, Peter Voser, said the company had...

Niger Delta group threatens to attack oil facilities
Posted On Feb 07 ,2011 - 02:53-PM | by admin

A Nigerian militant faction on Thursday threatened to mount new attacks on oil facilities in the Niger Delta, after saying peace negotiations with the military had collapsed. Militant gangs have plant...

Nigerian oil exports set to slip
Posted On Feb 07 ,2011 - 02:08-PM | by admin

Nigeria's oil exports are set to decline by 70 000 barrels per day (bpd) in February to an eight-month low because of reduced supplies from several crude streams in a short month, trade sources said o...

Exxon Mobil Corporation Announces Estimated Fourth Quarter 2010 Results
Posted On Feb 07 ,2011 - 02:01-PM | by admin

FOURTH QUARTER HIGHLIGHTS Earnings were $9,250 million, an increase of 53% or $3,200 million from the fourth quarter of 2009. Earnings per share were $1.85, an increase of 46%. Capital and e...

Saipem to go on trial in Italy on Nigeria graft charges
Posted On Jan 27 ,2011 - 01:32-PM | by admin

A Milan judge has decided that Saipem, controlled by the gas and oil group ENI, and five managers involved in the case will go on trial on April 5, the sources said. Milan's prosecutors office opened ...

Shell refuses to take sole blame for Nigeria spills
Posted On Jan 27 ,2011 - 01:13-PM | by admin

A Royal Dutch Shell executive said on Wednesday the company could not be held solely responsible for damage to the environment caused by oil extraction in the Niger Delta where it operates. Ian Craig,...

FG, NNPC Can Be Sued But Not Shell, ELF, Chevron, & Total, Rules ECOWAS Court
Posted On Jan 26 ,2011 - 01:04-AM | by admin

The ECOWAS Community Court of Justice in Abuja has held that it has jurisdiction to entertain a case brought by the Registered Trustees of the Socio-Economic Rights and Accountability Project (SERAP) ...

Portugal’s Port of Sines to Get Two LNG Shipments From Nigeria
Posted On Jan 26 ,2011 - 01:18-AM | by admin

Portugal’s port of Sines is scheduled to receive two shipments of liquefied natural gas from Nigeria in the next seven days. The LNG Borno is sailing from Bonny in Nigeria and will arrive on Jan. 27...

Shell denies oil spill allegation
Posted On Jan 26 ,2011 - 01:51-AM | by admin

Shell Petroleum Development Company of Nigeria Limited (SPDC), on Tuesday, denied the allegation, which was credited to Amnesty International and Friends of the Earth International, that it was not en...

PFC Energy 50 Ranking of World's Top Energy Companies
Posted On Jan 25 ,2011 - 01:54-PM | by admin

ExxonMobil regains top position from PetroChina; Petrobras climbs to #3 ExxonMobil, with a market capitalization of $368.7 billion, regained the top position it has held almost every year on the PF...

Nigeria Oil and Gas (NOG) Conference
Posted On Jan 25 ,2011 - 01:07-PM | by admin

Nigerian and international delegations will meet in February at the annual Nigeria Oil and Gas (NOG) Conference to discuss current developments and future opportunities in the energy industry Key d...

Oil spills in the Niger Delta
Posted On Jan 25 ,2011 - 01:02-PM | by admin

Amnesty International and Friends of the Earth Tuesday said they had filed an official complaint against Ango-Dutch firm Shell for shirking responsibility for oil spills in Nigeria and wreaking havoc ...

$3.1bn natural-gas project Platong II in the Gulf of Thailand
Posted On Jan 25 ,2011 - 01:23-PM | by admin

Chevron Corporation is to start up the $3.1bn natural-gas project Platong II in the Gulf of Thailand in 2011, one year ahead of schedule. The shallow water Platong II development, which is located...

Oil and human rights
Posted On Jan 25 ,2011 - 01:50-PM | by admin

Oil is sheltering major African states from international criticism on human rights with foreign nations reliant on crude reluctant to speak out, Human Rights Watch said on Monday. Nigeria, Angola and...

Oil prices below $88
Posted On Jan 25 ,2011 - 01:07-PM | by admin

Oil prices hung below $88 a barrel Tuesday in Asia, extending losses after the Saudi oil minister hinted the world's biggest oil producer may raise supplies to put the brakes on higher oil prices. Be...

Oil Marketing Companies named 2011 accredited members
Posted On Jan 24 ,2011 - 01:02-AM | by admin

Accra– The Association of Oil Marketing Companies (AOMCs) on Saturday named 40 accredited oil marketing companies in good standing for business in 2011. The companies are” Agapet Oil, Alli...

Nigeria’s Bonny Light grade rise to $100.12 a barrel
Posted On Jan 24 ,2011 - 01:51-AM | by admin

Nigeria’s Bonny Light grade, from which traders gauge the cost of West African oil, rose to $100.12 a barrel, passing $100 for the first time since October 2008, according to data compiled by Bloomb...

MODEC supply the PSVM FPSO to BP
Posted On Jan 17 ,2011 - 01:28-PM | by admin

Aker Solutions subsidiary Aker Marine Contractors will install the Bourgogne FPSO offshore Angola for MODEC Offshore Production Systems under a new $30m contract. Aker will install the FPSO, which ...

Oil prices continued above $91
Posted On Jan 17 ,2011 - 01:42-PM | by admin

Oil prices continued above $91 a barrel today, after a slight rise late last week on the back of strengthening US equities. Crude for February delivery stood at $91.52 a barrel by 00.09 GMT, down 2...

Russia, China Energy deals
Posted On Jan 17 ,2011 - 01:28-PM | by admin

Russia, the world's top crude exporter, said it had begun scheduled oil shipments to China via an East Siberian link on Saturday as the Kremlin cements ties with its energy-hungry neighbour. So...

Shares in BP rose as much as 2.5
Posted On Jan 17 ,2011 - 01:33-PM | by admin

BP and Rosneft saw their share price soar this morning, after announcing their joint venture late on Friday afternoon. The idea of the deal, which is being structured as a £10bn share swap, is that t...

Natural resources related -conflict too frequent in Africa
Posted On Jan 17 ,2011 - 01:22-PM | by admin

Mrs Esther Amba Numaba Cobbah, Chief Executive Officer (CEO) of Strategic Communication, has noted that conflicts related to natural resources were too frequent especially in some parts of Africa. Sh...

Adjustment of petroleum prices saved OMCs
Posted On Jan 17 ,2011 - 01:32-PM | by admin

The Association of Oil Marketing Companies (AOMCs) at the weekend revealed that the recent upward adjustment of prices of petroleum products had saved the Oil Marketing Companies (OMCs) from financial...

Zambia Ready to Issue Licenses
Posted On Dec 21 ,2010 - 12:43-AM | by admin

Companies that bid in Zambia’s first licensing round will be issued their oil and gas exploration licenses soon. Zambian Mines Minister Maxwell Mwale said that the local and foreign companies awarde...

Eni signs memorandum of understanding with the Libya
Posted On Dec 21 ,2010 - 12:20-AM | by admin

Eni said it signed a MOU with the Libyan government to build a shipping port and desalination plant. Eni Chief Executive Officer, Paolo Scaroni signed the MOU in the presence of Libyan Prime Minist...

Oil Majors, AES Contribute 31% to Nigeria’s Power Supply
Posted On Dec 21 ,2010 - 12:58-AM | by admin

Nigerian Federal Government yesterday revealed that out of about 3,300 megawatts (mw) of electricity which the Power Holding Company of Nigeria (PHCN) currently supplies to Nigerians, 1,100mw, repr...

Saipem offers $30 million to settle Nigeria’s case
Posted On Dec 21 ,2010 - 12:21-AM | by admin

Saipem, said yesterday that it would pay a penalty of $30 million to settle a Nigerian investigation into a bribery case involving the building of gas facilities by an international consortium. The d...

Niger Delta militants claim renewed attacks on oil facilities
Posted On Dec 21 ,2010 - 12:40-AM | by admin

The Niger Delta Liberation Force (NDLF) said in an emailed statement that it had struck three flow stations in Delta state using remotely activated bombs. There was no immediate independent confirmati...

Ghana pledges to make oil wealth a blessing
Posted On Dec 20 ,2010 - 12:49-PM | by admin

Ghana has begun production from one of the largest recent oil discoveries in West Africa, transforming it into a significant producer, but raising fears over the associated risks. President John Atta...

Ghana joins oil producing nations
Posted On Dec 20 ,2010 - 12:04-PM | by admin

Ghana on Wednesday joined the league of oil producing countries when it officially poured its first oil at the Jubilee Oil Field offshore Cape Three Points in the Western Region. At exactly 1000 ho...

US government is suing BP
Posted On Dec 16 ,2010 - 12:10-PM | by admin

The US government is suing BP and eight other firms for 'violations of safety and operational regulations' under the US Clean Water Act and Oil Pollution Act; it wants them to have unlimited liability...

CAMAC Energy's new acquisition
Posted On Dec 16 ,2010 - 12:18-PM | by admin

CAMAC Energy will acquire Allied Energy's total interest in a production sharing contract (PSC) for oil mining leases 120 and 121 off the coast of Nigeria. Once the transaction is complete, CAMAC E...

WikiLeaks Exposes Shell in Nigeria
Posted On Dec 10 ,2010 - 12:15-PM | by admin

Shell claimed it had planted staff in all the main ministries of the Federal Government of Nigeria, giving it access to politicians' every move in the Niger Delta, according to a leaked US diplomatic ...

crude oil for refined products
Posted On Dec 10 ,2010 - 12:52-PM | by admin

Nigeria signed agreements with Amsterdam-based trading company, Trafigura Beheer BV, and Ivory Coast's sole refiner, Societe Ivoirienne Raffinage, to provide them with crude oil in exchange for refine...

SacOil buys into Nigeria oil field
Posted On Dec 10 ,2010 - 12:56-PM | by admin

Pan African oil and gas company SacOil and its joint venture (JV) partner Equity Energy Resources have each acquired a 20% interest in an oil licence off the coast of Nigeria. Project owner Nigdel Uni...

Nigeria in Talks With Technip, Eni and JGC Over Bribe Case
Posted On Dec 10 ,2010 - 12:13-PM | by admin

Technip SA of France, Eni SpA of Italy and JGC Corp. of Japan are in talks with Nigerian prosecutors to settle corruption charges that will be filed today, the countryís anti-graft agency said. ìT...

Statoil to fight Nigeria ruling on Agbami oil field deal
Posted On Dec 10 ,2010 - 12:50-PM | by admin

Statoil vowed to fight a Nigerian court ruling that it must honour its agreement with Mr. John Abebe about sharing profits from crude oil export earnings from the deepwater Agbami oil field. Statoil,...

Okah Says No Military Solution in Oil-Rich Delta
Posted On Dec 10 ,2010 - 12:53-PM | by admin

Nigeria militant leader Henry Okah, who is currently on trial in South Africa on terrorism charges, said there's no military solution to the rebellion under way in the oil-rich Niger River delta. Th...

Ghana to commence oil exports this month as reserves hit 5 Billion Barrels
Posted On Dec 10 ,2010 - 12:57-PM | by admin

Ghana, set to begin exporting oil this month, will see reserves reach 5 billion barrels in five years as more fields start production, according to the chairman of the parliamentís energy committee. ...

Exxon staff on strike in Nigeria over job losses
Posted On Dec 10 ,2010 - 12:37-PM | by admin

ExxonMobil management staff in Nigeria have begun an indefinite strike after dozens of local employees were sacked, but oil production has not been affected, the company and a union official said Th...

PETROFAC to invest 15b naira in Nigeria
Posted On Dec 10 ,2010 - 12:16-PM | by admin

PETROFAC said it had concluded arrangements to spend 15 billion naira to acquire a 15% interest and assist Nigeriaís Seven Energy Company with the development of its production, processing and transp...

Courts Orders Statoil to Pay Abebe US$25m
Posted On Dec 10 ,2010 - 12:46-PM | by admin

Justice Charles Archibong of the Federal High Court in Lagos yesterday ordered a Norwegian oil firm, Statoil Nigeria Limited to pay a businessman, Dr John Abebe and his company, Inducon Nigeria Limite...

Nigerian FG, Oil Firms on Collision Course
Posted On Dec 03 ,2010 - 12:37-AM | by admin

The Federal Government and International Oil Companies (IOCs) operating in the country are on a collision course over abuse of expatriate quota by these multinational firms, THISDAY has learnt. Thi...

Gazprom and Royal Dutch Shell
Posted On Dec 03 ,2010 - 12:51-AM | by admin

Alexei Miller, the top executive at Gazprom, welcomed his Shell counterpart Peter Voser to his Moscow office to discuss global cooperation. Both sides during the meeting signed an agreement to work b...

CAMAC Energy Announces Early Commencement of Oyo #5 Well Intervention
Posted On Dec 03 ,2010 - 12:50-AM | by admin

CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that it has been notified by its partner, Nigerian Agip Exploratio...

Petrofac to Expand in West Africa After Joint Project in Nigeria
Posted On Nov 30 ,2010 - 11:47-PM | by admin

Petrofac Plc plans to expand operations in West Africa after securing its first joint project in Nigeria, Chief Executive Officer Ayman Asfari said. Petrofac, which has so far focused on Tunisia, Alg...

NNPC pays over $2 billion in fuel debts
Posted On Nov 30 ,2010 - 11:57-PM | by admin

NNPC has paid $2-2.5 billion of fuel import debts but suppliers still face up to seven months beyond normal credit terms to receive other oustanding payments, trade sources said. NNPC owed between $3-...

EFCC frees Halliburton staff as probe continues
Posted On Mar 22 ,2011 - 03:35-PM | by admin

Nigeria's anti-corruption police said on Monday employees of U.S. oilfield services group Halliburton arrested last week in a bribery case have been freed, but must stay in the country pending furt...

$12bn Deal on Basra Oilfields
Posted On Nov 30 ,2010 - 11:45-PM | by admin

Iraq's South Gas Company (SGC) is to sign a $12bn deal with Royal Dutch Shell and Japan's Mitsubishi by the end of this year. SGC director general Ali Khudhier said the company will sign the agree...

Rovuma basin of Mozambique
Posted On Nov 30 ,2010 - 11:59-PM | by admin

Anadarko Petroleum and its consortium partners have discovered a major natural gas presence in the Rovuma basin of Mozambique. A net total of 550ft of natural gas was discovered at the Lagosta exp...

Concerns over West Africa Gas Pipeline Project
Posted On Nov 19 ,2010 - 11:50-AM | by admin

The pipeline is designed to supply gas from the Escravos region of Niger Delta to feed generating plants of the participating countries. The project, which was the first regional natural gas transm...

West Africa Oil Basin Discovery
Posted On Nov 16 ,2010 - 11:27-AM | by admin

Anadarko Corp.'s (APC) second oil discovery offshore Sierra Leone further demonstrates that a new stretch of the West African coast has the potential to become a productive oil basin, the company and ...

IFC Hands Over Skills Training Center to Members of Nigeria’s Oil and Gas Industry
Posted On Nov 16 ,2010 - 11:04-AM | by admin

IFC, a member of the World Bank Group, has formally launched the Fabrication Training Center (FTC) Foundation, which will run an IFC-supported training center that is providing management and technic...

449 kidnappers arrested by Nigerian Army in seven weeks
Posted On Nov 16 ,2010 - 11:39-AM | by admin

Nigeria's special joint military force has arrested over 400 suspected kidnappers in four oil-producing states in the Niger Delta in under seven weeks, an army spokesman said on Sunday. "From the star...

Exxon Mobil offshore platform attacked in Akwa Ibom
Posted On Nov 16 ,2010 - 11:48-AM | by admin

AN offshore rig belonging to Exxon Mobil Corporation in Eket, Akwa Ibom, was in the early hours of yesterday, attacked by some gunmen suspected to be militants. The unknown armed attackers allegedl...

Tap Oil Raises Ghana Prospectivity
Posted On Nov 16 ,2010 - 11:37-AM | by admin

Tap Oil has identified additional potential in the deeper water portion of the Accra block, off Ghana, and plans to acquire a large 3D seismic survey in the area. The offshore Accra contract area ...

ExxonMobil and its partners plan to build four artificial islands
Posted On Nov 16 ,2010 - 11:51-AM | by admin

ExxonMobil and its partners plan to build four artificial islands in the Upper Zakum oilfield off the coast of Abu Dhabi, UAE, which will result in huge cost savings. ExxonMobil Abu Dhabi Offshore...

BP, Total Buy Forties Cargoes
Posted On Nov 16 ,2010 - 11:27-AM | by admin

BP Plc and Total SA bought cargoes of North Sea Forties crude, while Trafigura Beheer BV made a bid without attracting sellers. Nigeria’s main rebel group threatened to renew attacks on oil faciliti...

Crude Oil: NNPC, Total to Receive Vessel for New 180,000bpd Field
Posted On Nov 16 ,2010 - 11:41-AM | by admin

Nigeria’s crude oil production is to receive a major boost as the Nigerian National Petroleum Corporation (NNPC) and French oil giant, Total will in March 2011 receive a new offshore floating vessel...

GAIL and Petronet want stake in Nigerian LNG projects
Posted On Nov 09 ,2010 - 11:37-PM | by admin

GAIL India and Petronet LNG Ltd are looking to pick up stake in liquefied natural gas projects in Nigeria to secure supplies for the country’s rising energy needs. Mr Murli Deora Petroleum Minister ...

Transocean sued by U.S. SEC claiming illegal payments
Posted On Nov 09 ,2010 - 11:25-PM | by admin

Transocean Ltd. was sued by the U.S. Securities and Exchange Commission over claims the offshore oil driller made illegal payments to Nigerian government officials from 2002 to 2007. In the suit filed...

Gunmen kidnap five oil workers in Akwa Ibom
Posted On Nov 09 ,2010 - 11:25-PM | by admin

The Move-ment for the Emancipation of the Niger Delta (MEND) issued a threat of fresh attacks on oil installations in the country. At Okoro field off Akwa Ibom State, gunmen attacked an offshore oi...

ExxonMobil Makes Gas Find Offshore Nigeria
Posted On Nov 09 ,2010 - 11:18-PM | by admin

ExxonMobil subsidiary Mobil Working Nigeria has discovered a rich gas condensate deposit off the coast of south-east Nigeria. Approximately 50.3m of rich gas condensate was found at the Pegi-1 disc...

Nigerian Senate set to pass Petroleum Industry Bill
Posted On Nov 09 ,2010 - 11:13-PM | by admin

Senate President David Mark gave an assurance that the National Assembly would pass a responsive content of the Petroleum Industry Bill (PIB). Mark said in Abuja that when passed, the bill would br...

Audit of 120 Oil Blocks Delays 2010 Licensing Round
Posted On Nov 09 ,2010 - 11:54-PM | by admin

The audit of about 120 oil blocks given out by the Olusegun Obasanjo administration to local and international investors in the licensing rounds held from 2005 to 2007 is responsible for the curren...

ExxonMobil announces gas condensate find off Nigeria
Posted On Nov 02 ,2010 - 11:44-PM | by admin

ExxonMobil in Nigeria on Monday announced the discovery of rich gas condensate off the country's coast as the government seeks to boost gas supply to help solve electricity shortages. Mobil Producing ...

Petroleum Industry Bill by end December 2010
Posted On Nov 02 ,2010 - 11:39-PM | by admin

Nigeria's parliament may pass a Petroleum Industry Bill before the end of December, paving the way for a new exploration licensing round, the country's presidential advisor on energy Emmanuel Egbogah ...

Oando committed to developing Ghana's gas Infrastructure
Posted On Nov 02 ,2010 - 11:28-PM | by admin

Oando, said it remained firmly committed to partnering Ghana in developing its energy infrastructure. A statement issued by the company in Accra it described as false claims that Oando had not been s...

China, Russia Oil Pipeline Starts Trial Operation
Posted On Nov 02 ,2010 - 11:27-PM | by admin

Russia's crude oil started flowing into China through a pipeline linking Russia's far east to China's northeast as the two countries began testing the pipeline Monday evening, state media here reporte...

Oil Prices Comments
Posted On Nov 02 ,2010 - 11:07-PM | by admin

Oil prices at above 80 dollars a barrel are within a "very comfortable zone", Saudi Oil Minister Ali al-Nuaimi said Monday. "I would say we are in a very comfortable zone," he said in answer to a q...

Mobil Hits Large Gas Deposit in Akwa Ibom
Posted On Nov 02 ,2010 - 11:18-PM | by admin

Mobil Producing Nigeria Unlimited (MPN), a Joint Venture (JV) partner of the Nigerian National Petroleum Corporation (NNPC), has announced a rich gas condensate discovery in its operated Oil Mining Li...

Technip to Install Pipeline Offshore Ghana
Posted On Nov 01 ,2010 - 11:29-PM | by admin

Technip has won a contract for phase I of the Natural Gas Transportation and Processing project, 60km offshore Ghana, by Ghana National Petroleum Company (GNPC). Under the contract Technip will car...

Shell close to settling bribery case
Posted On Nov 01 ,2010 - 11:30-PM | by admin

Shell has almost reached a settlement with the United States in a bribery case in Nigeria. It is expected that the Dutch-British oil company will receive a 30 million dollar fine. Shell is being accus...

Afren says 2010 is a year of unprecedented activity
Posted On Nov 01 ,2010 - 11:01-AM | by admin

Afren says 2010 has, so far, been a year of unprecedented activity. The firm says highlights include: * Stable net production of 16,101 boepd to the end of September. * Acquisition of a 45% interest i...

South Africa woos investors for world's biggest solar plant
Posted On Nov 01 ,2010 - 11:09-AM | by admin

South Africa wooed investors Thursday for what could become the world's largest solar project, built on the edge of the Kalahari Desert to provide an eighth of the country's electricity. More than 400...

Shell Reports Increase in Profit as Oil Prices Climb
Posted On Nov 01 ,2010 - 11:10-AM | by admin

Royal Dutch Shell Plc, posted earnings that beat analyst estimates for the third straight quarter after a 22 percent increase in liquefied natural-gas sales. Excluding one-time items and inventory cha...

British Gas (BG) Exploration and Production is pulling out of Nigeria’s oil and gas sector in March 2011
Posted On Nov 01 ,2010 - 11:59-AM | by admin

Despite the investment of over $500 million in its exploration activities on the offshore blocks OPLs 332, 286-DO and 284-DO since 2004, British Gas (BG) Exploration and Production is pulling out of N...

Total Nigeria 9-month pre-tax profit up 30 percent
Posted On Nov 01 ,2010 - 11:54-AM | by admin

Total Nigeria announced its 9-month pre-tax profit jumped 30 percent to 5.88 billion naira ($39 million) from 4.54 billion naira a year earlier. Turnover at the company, a unit of France's Total SA,...

Eni pipeline attacked in Bayelsa
Posted On Nov 01 ,2010 - 11:58-AM | by admin

4,000 bpd affected A pipeline belonging to the Italian oil firm Eni was attacked overnight in Nigeria's oil-producing Niger Delta, shutting in 4,000 barrels a day of crude production, the company s...

Pirates kill four in Niger Delta region
Posted On Oct 28 ,2010 - 10:46-AM | by admin

Pirates attacked a boat along the Bayelsa waterways, a key route to a multi-million dollar oil company, in Nigeria yesterday killing four persons and injuring several passengers. The attack took place...

Nigerian crude oil differentials
Posted On Oct 28 ,2010 - 10:55-AM | by admin

Nigerian crude oil differentials slipped on Wednesday following news of the planned increase in export programme planned for December, according to a Reuters report. Nigeria will export at least 2.15...

PetroSA’ S FINANCIAL POSITION REMAINS STRONG DESPITE NET LOSS FOR 2009/10 FINANCIAL YEAR
Posted On Oct 27 ,2010 - 10:41-PM | by admin

PetroSA, South Africa’s national oil company, announced its annual results for the 2009/10 financial year, which recorded a R356 million net loss, compared to a R1, 9 billion net profit in the 2008/...

Investing in the Nigerian oil and gas sector
Posted On Oct 27 ,2010 - 10:12-AM | by admin

‘Shell will continue to invest in Nigeria’ The Shell Petroleum Development Company of Nigeria (SPDC) has restated its commitment to investing in Nigeria adding that the company and its partne...

Nigeria's Department of Petroleum Resource lists factors hindering effective operations
Posted On Oct 27 ,2010 - 10:25-AM | by admin

The DPR has identified multiplicity of regulatory agencies for the same industry, inadequate funding and facilities to support effective monitoring, as some of the challenges facing the organisation. ...

Nigeria registers fresh clean energy project
Posted On Oct 27 ,2010 - 10:10-AM | by admin

NIGERIA has registered another project under the United Nations Framework Convention on Climate Change (UNFCCCC) Clean Development Mechanism (CDM). The project, Asuokpu/Umutu Gas Recovery and Mar...

Nigeria External reserves fall by 4.82%
Posted On Oct 27 ,2010 - 10:53-AM | by admin

Central Bank of Nigeria, CBN, has announced that the nation’s external reserve has fallen by 4.82 per cent to $33.907 billion within the first 21 days of October. According to data on the websit...

Nigeria’s FG to Raise Crude Oil Export in Dec
Posted On Oct 27 ,2010 - 10:10-AM | by admin

The Federal Government is to increase exports of Nigeria’s benchmark crude oil grade, the Qua Iboe, in December by selling 13 cargoes up from the 11 scheduled to load in November in a bid to shore u...

Fitch revises Nigeria's credit outlook to negative
Posted On Oct 27 ,2010 - 10:41-AM | by admin

Fitch Ratings has lowered its sovereign credit outlook on Nigeria to negative from stable, citing the depletion of its windfall oil savings and heightened political uncertainty ahead of elections next...

French refinery strike
Posted On Oct 27 ,2010 - 10:07-AM | by admin

Nigerian crude oil values came under heavy pressure again on Friday as the French refinery strike kept regional crude demand at reduced levels and squeezed down differentials for all grades. Nigeria's...

Addax, Blackstone, Perenco, others target Shell’s $4b oilfield
Posted On Oct 27 ,2010 - 10:57-AM | by admin

A report at the weekend said British Petroleum (BP) Plc’s former Chief Executive Officer, John Browne, was leading a group of bidders for $4 billion of oil fields being sold by Shell. The report ...

India to pay $2.25 bln oil subsidy
Posted On Oct 27 ,2010 - 10:43-AM | by admin

The finance ministry has agreed to pay 100 billion rupees ($2.25 billion) to compensate state oil retailers for selling fuel at below-market prices in the first half of the fiscal year, government sou...

Light crude oil at the Cabaca South East-2 well
Posted On Oct 27 ,2010 - 10:39-AM | by admin

Eni and its partners Sonangol said they tested a major oil discovery off the coast of the Angola. The company said it uncovered light crude oil at the Cabaca South East-2 well in 1,500 feet of wate...

BP is offloading assets
Posted On Oct 27 ,2010 - 10:41-AM | by admin

BP is offloading assets to raise cash to pay for damages incurred from the summer oil spill in the Gulf of Mexico. In a Monday announcement, the British supermajor said Japanese energy company Maru...

Iran, Venezuela Sign Cooperation MoU's
Posted On Oct 22 ,2010 - 10:54-PM | by admin

Iran and Venezuela here this evening signed a number of memoranda of understanding for cooperation between the two sides in various fields. The signing ceremony was attended by Iranian President Mahmo...

Petrofac donates US$ 100,000 to RCA for relief operations in Pakistan
Posted On Oct 22 ,2010 - 10:30-PM | by admin

Petrofac, the international oil '&' gas facilities provider welcomed senior representatives from the Red Crescent Authority (RCA) together with Tariq Iqbal Soomro, Consul General of Pakistan in Dubai ...

Anadarko Discovers Natural Gas Offshore Mozambique
Posted On Oct 22 ,2010 - 10:24-AM | by admin

Anadarko Petroleum Corporation has discovered natural gas at its Barquentine exploration well in Offshore Area 1 of Mozambique's Rovuma Basin. Anadarko encountered over 416 net feet of natural gas ...

FCMB, GTB to acquire $187.5 million SPDC oilfield
Posted On Oct 22 ,2010 - 10:41-AM | by admin

First Hydrocarbon, a Nigeria-registered company jointly owned by Afren, First City Monument Bank (FCMB) and Guaranty Trust Bank (GTB), to acquire a 45 per cent stake in Oil Mining Lease (OML) 26 in De...

Niger Republic to pump oil in 2011
Posted On Oct 22 ,2010 - 10:04-AM | by admin

Niger will start producing and refining oil in 2011, a year ahead of schedule, the government and its Chinese partners said, despite Chinese concerns about the lack of financing from the West African ...

Afren unit buys Nigerian oil field stake from majors
Posted On Oct 22 ,2010 - 10:51-AM | by admin

Afren said it was to buy a stake in a Nigerian oil field from and expects to complete further such deals next year as it positions itself as a major independent player in Nigeria. "We remain in talks...

Lagos State, NNPC sign MOU on $25billion refinery and hydrocarbon industrial park
Posted On Oct 22 ,2010 - 10:58-AM | by admin

After two years of intensive negotiations, Lagos State Government and the Nigerian National Petroleum Company (NNPC) have signed a Memoradum of Understanding signifying readiness towards the setting u...

IMF cuts Ghana oil revenue forecast
Posted On Oct 22 ,2010 - 10:13-AM | by admin

The International Monetary Fund has revised down its estimates for Ghana's oil earnings in 2011 and now sees them barely covering the cost of this year's pay deal in its large public sector. "We are a...

Shell Nigeria says will continue to invest in Nigeria
Posted On Oct 22 ,2010 - 10:12-AM | by admin

Shell will continue to invest in Nigeria 'under the right conditions', the Chairman of Shell Companies in Nigeria, Mutiu Sunmonu, said in Abuja, the Nigerian federal capital city. Speaking at the lead...

Nigeria: ''Oil licensing round to be completed before year end''
Posted On Oct 22 ,2010 - 10:01-AM | by admin

Oil Minister Deziani Allison-Madueke says a planned licensing round of marginal oil blocks and the passage of wide-ranging legislation to overhaul the energy sector will take place this year. The Petr...

Oando Plans to Build Gas Pipelines in Nigeria to Supply Electricity Plants
Posted On Oct 22 ,2010 - 10:41-AM | by admin

Oando Plc says it will build 120 kilometers (75 miles) of gas pipelines every 18 to 24 months as part of its plans to develop a gas grid that will feed power plants. “We hope to reach all parts of t...

Lukoil Consortium to Drill Offshore West Africa
Posted On Oct 22 ,2010 - 10:33-AM | by admin

Lukoil, Vanco, GNPC and PETROCI will initiate exploration and an appraisal drilling programme at Cape Three Points Deep Water (CTPDW) and CI-401 in the Gulf of Guinea, off the shore of West Africa. ...

Panalpina and Shell close to settling bribery case
Posted On Oct 22 ,2010 - 10:38-AM | by admin

Panalpina Group and its customer, Royal Dutch Shell Plc, are close to settling foreign bribery charges by U.S. regulators, according to a Wall Street Journal report on its website. Panalpina, a Swiss ...

Ghana: Petroleum Bills to be passed before budget reading
Posted On Oct 22 ,2010 - 10:18-AM | by admin

The Petroleum Exploration and Production Bill and Petroleum Revenue Management Bill would be passed before the budget for 2011 would be read in November, this year. Mr Cletus Avoka, Majority Leade...

Ghana Private sector key to boost oil industry - Dr Boeh-Ocansey
Posted On Oct 22 ,2010 - 10:37-AM | by admin

The key objective of government to rapidly grow the country’s economy with proceeds from the oil and gas sector could only be achieved if the private sector plays an active role in the process. D...

Total Makes significant gas and condensate discovery in Brunei
Posted On Oct 15 ,2010 - 10:36-PM | by admin

Total has made a significant gas and condensate discovery offshore Brunei. Approximately ten million cubic feet of gas and 220 barrels per day of condensate were produced during a test of well ML-5...

US crude for November rose 74¢ to stand at $83.75 a barrel
Posted On Oct 14 ,2010 - 10:46-PM | by admin

London Brent crude climbed 55¢ to $85.19, according to Reuters. World oil demand is expected to grow during the rest of 2010, but may be lower in 2011 and could slow if the world economy does not ...

Exxonmobil staff school Head kidnapped in Nigeria
Posted On Oct 14 ,2010 - 10:04-PM | by admin

Police escort & driver killed The state of insecurity in Akwa Ibom worsened today as kidnappers abducted Ms. Lakshmi Tombush, Head of the ExxonMobil-owned Pegasus Schools in Eket. Ms. Tombush ru...

Is Oil heading towards $90/barrel?
Posted On Oct 12 ,2010 - 10:59-PM | by admin

Algeria’s new Energy and Mines Minister Youcef Yousfi said that pricing between $90-$100 per barrel was a reasonable price for oil. “Current oil prices are better than their level in the past year...

Russia remains a top energy partner for Europe
Posted On Oct 12 ,2010 - 10:51-PM | by admin

Russia remains a top energy partner for Europe, though lingering gas issues make oil and gas diversification a priority, a top U.S. official says. A January row between Russian gas giant Gazprom an...

Bahrain Oil and Gas Affairs Minister to visit Moscow
Posted On Oct 12 ,2010 - 10:25-PM | by admin

Oil and Gas Affairs Minister and National Oil and Gas Authority Chairman Dr Abdulhussain bin Ali Mirza today received an invitation from Russian First Deputy Premier and Oil and Energy Minister Viktor...

BP Seals Deal with Azerbaijan to Explore Caspian Sea
Posted On Oct 12 ,2010 - 10:29-PM | by admin

BP has signed a production-sharing agreement with Azerbaijan's state-owned firm SOCAR for the joint exploration and development of the Shafag-Asiman structure in the Azerbaijan sector of the Caspian S...

Technip Wins $400m Khafji Deal
Posted On Oct 12 ,2010 - 10:20-PM | by admin

Technip was awarded a $400m contract by Khafji Joint Operations for the Khafji crude-related offshore projects. Under the contract, the scope of work covers installation of two integrated wellhead ...

Bahraini Oil and Gas Affairs Minister meets U.S. Deputy Assistant Secretary of State
Posted On Oct 12 ,2010 - 10:17-PM | by admin

Bahraini Oil and Gas Affairs Minister Dr. Abdul Hussein bin Ali Mirza who is also Chairman of the National Oil and Gas Authority (NOGA) received here on Tuesday with U.S. Deputy Assistant Secretary of...

Qatar Petroleum and Shell Qatar
Posted On Oct 12 ,2010 - 10:43-PM | by admin

Qatar Petroleum (QP) and Shell Qatar broke the record for drilling wells in the North Field here using an innovative approach, a senior executive told Offshore Middle East Conference 2010 which opened...

Gabon 10th Licensing Round
Posted On Sep 23 ,2010 - 09:50-AM | by admin

Dates for the official opening of the 10th Licensing Round covering the highly prospective deepwater acreage offshore Gabon. The licensing round will be opened at a conference in Libreville a...

Conoil says its pre-tax profit had risen 15 percent
Posted On Sep 22 ,2010 - 09:05-PM | by admin

Conoil says its pre-tax profit had risen 15 percent to 3.78 billion naira ($25 million) in 2009, compared to 3.28 billion naira a year ago. Turnover at the firm fell 18 percent to 101.85 billion in t...

Tullow Oil in major new find off Ghana
Posted On Sep 22 ,2010 - 09:06-PM | by admin

Tullow Oil said Tuesday it has found what could be among the largest recent oil discoveries in Africa off the coast of Ghana, with the field holding a potential 550 million barrels. The new find in Tu...

President Jonathan seeks better management of oil revenue
Posted On Sep 22 ,2010 - 09:29-PM | by admin

President Goodluck Jonathan said Monday he has proposed legislation aimed at improving the country's handling of its oil revenue by creating a special fund for savings and infrastructure. The announce...

ExxonMobil pioneers use of Nigeria-made pipes
Posted On Sep 22 ,2010 - 09:16-PM | by admin

AMERICAN energy giant, ExxonMobil, has pioneered the use of made in Nigeria pipes in the oil and gas industry. Besides, the company is set to deploy Helical Submerged Arc Welded (HSAW) pipes fabric...

Gov’t Acquires a 50% Stake in Three Oil Exploration Blocks From Shell
Posted On Sep 22 ,2010 - 09:17-PM | by admin

Nigeria acquired a 50 percent stake in three “major oil mining leases” from Royal Dutch Shell Plc, according to the Nigeria National Petroleum Corp. The licenses, known as 4, 38, and 41, can produ...

Sao Tome seeks fresh talks with Nigeria on JDZ Blocks
Posted On Sep 17 ,2010 - 09:51-AM | by admin

Nigeria and Sao Tome share a joint offshore oil development zone but exploration results in the shared area have been disappointing.

Under the current deal, once oil starts flowing, Nigeri...

Nigerian oil industry overhaul slowing investment says Total
Posted On Sep 17 ,2010 - 09:25-AM | by admin

The head of Total's oil production in Nigeria said Tuesday that uncertainty over the government's plans for a major overhaul of the country's petroleum industry has slowed investment in new projects. ...

Santos Basin Guara contains 1.1 to 2.0 billion recoverable barrels
Posted On Oct 12 ,2010 - 10:44-PM | by admin

BG Group (30%) and partners Petrobras (45%, operator) and Repsol (25%) have today announced that the Guara discovery in the Santos Basin pre-salt, offshore Brazil is now estimated to contain recove...

Nigerian appoints Musa Sheikh as new OPEC governor
Posted On Sep 07 ,2010 - 09:31-AM | by admin

Permanent Secretary at the Nigerian Ministry of Petroleum Resources Musa Sheikh has been appointed the country's new OPEC governor by Oil Minister Diezani Alison-Madueke, a ministry statement said. Sh...

Hardy Oil and Gas to dispose its wholly-owned Nigerian business
Posted On Sep 07 ,2010 - 09:06-AM | by admin

Hardy Oil and Gas has entered into a conditional agreement for the disposal of its wholly-owned Nigerian business. The disposal is being undertaken by way of the sale of Hardy's entire investment in H...

Shell in Nigeria warns on production after pipeline sabotage
Posted On Aug 27 ,2010 - 08:52-PM | by admin

Shell in Nigeria yesterday said it has warned it may not meet contractual obligations on Bonny Light crude, after oil thieves sabotaged two pipelines in the country's south. "The force majeure we decl...

Tenaris Saudi Arabia Ltd. announces the successful completion of Saudi Aramco's audit to start up its pipe manufacturing facility
Posted On Aug 27 ,2010 - 08:58-PM | by admin

Tenaris obtains quality certifications in record time to operate with Saudi Aramco
Dammam, Kingdom of Saudi Arabia. August 23, 2010.

Tenaris has obtained all the qualifications nece...

Occidental Petroleum Announces Second Quarter and First Six Months of 2010 Results
Posted On Jul 27 ,2010 - 07:06-PM | by admin

Q2 2010 net income $1.1 billion ($1.31 per diluted share)
Q2 2010 daily oil and gas sales average of 747,000 BOE
Quarterly year-over-year production volume growth of over 3 ½ percent...

Heritage Oil Announces the Completion of the Sale of Its Ugandan Interests
Posted On Jul 27 ,2010 - 07:14-AM | by admin

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Heritage Oil Plc (TSX:HOC)(LSE:HOIL), an independent upstream explor...

NNPC says it produces 2.2 Million Barrels Of Crude A Day
Posted On Jul 22 ,2010 - 07:37-PM | by admin

State oil company NNPC said Tuesday that it is currently producing 2.2 million barrels of crude a day in all its operations. "Production of crude oil has rebound with the amnesty and post-amnesty p...

BP announced plans to sell assets worth about $1.7bn
Posted On Jul 21 ,2010 - 07:13-PM | by admin

BP announced plans to sell assets worth about $1.7bn as it seeks to build up cash to pay for the Gulf of Mexico oil spill.

BP said it will sell its Vietnam pipeline and upstream assets as w...

CWC Group launches NCI a Nigerian Company
Posted On Jul 14 ,2010 - 07:43-PM | by admin

The CWC Group, experts in energy and infrastructure, is pleased to announce that they have established a Nigerian Company based in Lagos – Nigeria CWC Investments (NCI).

NCI, will look a...

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