Oil Discovery in Deep Campos Basin Waters

Thursday, February 25th, 2010

Petrobras announces the discovery of two new oil accumulations in reservoirs located in the Campos Basin, after the drilling of the exploratory well 6-BR-63A-RJS, located in Barracuda concession area, some ...


Nigeria Presidency Suspends Oil Blocks Allocation

Saturday, February 6th, 2010

The Federal Government has ordered an immediate suspension of all actions regarding fresh allocations of oil blocks or marginal fields until President Umaru Yar’Adua returns to the country. It was ...


Malaysian Manufacturers Demand More Natural Gas

Thursday, February 4th, 2010

Malaysian manufacturers, who rely on natural gas to meet their needs, should look for other sources as the country is facing a shortage of the gas for industrial use, Director-general ...


Extracting natural gas from shale rocks

Monday, February 1st, 2010

U.S. companies have pioneered a method known as hydraulic fracturing to extract natural gas from shale rocks and coal seams. The technology uses water, sand and chemicals to break up ...


EIA to Change Web Addresses of Key Information Releases

Friday, January 29th, 2010

On February 22, 2010, the Energy Information Administration (EIA) will change the web addresses for key information releases in the Weekly Natural Gas Storage Report (WNGSR) and the Weekly Petroleum ...


Alaska in Strong Position to Supply Natural Gas to North America, Kruger Says

Monday, January 25th, 2010

With large North Slope resources, Alaska has the opportunity to be a major supplier of natural gas to North America, Rich Kruger, president of ExxonMobil Production Company, said today in ...


India’s ONGC Gets Approval on Nigeria’s Oil Blocks

Tuesday, January 19th, 2010

The Indian Government has granted state-owned Oil and Natural Gas Corporation (ONGC) Videsh the approval to invest $359 million during the first exploration phase in two Nigerian deep water blocks, ...


Chevron and Nippon Oil Corporation Sign Gorgon Natural Gas Agreement

Thursday, January 7th, 2010

Agreement builds on series of recent agreements for natural gas delivery to customers in Asia SAN RAMON, Calif., Jan 07, 2010 (BUSINESS WIRE) -- Chevron Corporation (NYSE:CVX) today announced that its ...


Egypt expects 520 new exploratory oil wells in 2010

Tuesday, January 5th, 2010

Egypt expects 520 exploratory and development wells for oil and 36 for natural gas to be drilled in 2010, Minister of Petroleum Sameh Fahmy said. The oil wells will cost ...


Jubilee Fields: 278 million barrels of oil expected in first phase

Tuesday, December 8th, 2009

Accra, Dec. 7, GNA - The first phase of oil drilling in the Jubilee Fields is expected to yield about 278 million barrels of oil, an official of the Ghana National Petroleum ...


Nigeria, SPDC achieves record gas production at 512MMscf/d

Tuesday, November 24th, 2009

The Shell Petroleum Development Company (SPDC), operators of a joint venture with the Nigerian National Petroleum Corporation (NNPC), has set a record gas production with a total of 512 million ...


Petrobras, Natural gas liquefaction project in the Pre-Salt

Wednesday, November 18th, 2009

Petrobras announces it formalized with the BG Group, today, the incorporation of a joint venture to develop the FEED (Front End Engineering and Design) aiming to build an onboard natural ...


Chevron Reports Third Quarter Net Income of $3.83 Billion

Monday, November 2nd, 2009

Down 51 Percent from $7.89 Billion in Third Quarter 2008 Upstream earnings of $3.64 billion decline 41 percent on lower prices for crude oil and natural gas Net oil-equivalent production increases ...


CNOOC has received its first cargo of liquefied natural gas from Qatar

Wednesday, October 21st, 2009

China National Offshore Oil Corporation (CNOOC) has received its first cargo of liquefied natural gas from Qatar, according to Chinese newspaper reports. The first shipment, of 216,000 cubic metres, has arrived ...


CME Group Announces the Launch of New Options Contracts on Futures Strips for Natural Gas, Crude Oil, Electricity and Coal

Thursday, October 15th, 2009

CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for seven new options contracts on underlying futures strips for natural ...


World’s first commercial passenger flight powered by fuel made from natural gas lands in Qatar

Tuesday, October 13th, 2009

Qatar Airways makes historic journey from London Gatwick to Doha New Gas to Liquids fuel offers diversity of supply and better local air quality at busy airports A Qatar Airways aircraft this ...


Wintershall on growth course

Tuesday, October 6th, 2009

Substantial increase in oil and gas production/ Yuzhno Russkoye reaches plateau production/ Further expansion of North Sea operations Buenos Aires. The German crude oil and natural gas producer Wintershall is continuing ...


ExxonMobil Highlights Natural Gas Leadership at WorldGas 2009 Conference

Monday, October 5th, 2009

BUENOS AIRES, Argentina--(BUSINESS WIRE)--ExxonMobil will demonstrate its leadership across the natural gas value chain at Exhibit Booth H-50 at the WorldGas 2009 Conference from October 5-9, 2009 in Buenos Aires, ...


John Watson Named Chairman and CEO of Chevron Corporation

Wednesday, September 30th, 2009

Dave O’Reilly to Retire After 41 Years of Distinguished Company Service; George Kirkland Named Vice Chairman, Retaining Oversight of Global Upstream Operations SAN RAMON, Calif.--(BUSINESS WIRE)--Sep. 30, 2009-- The board of directors ...


GE Oil & Gas ICL Compression Technology Selected for Expansion of Storengy’s Underground Natural Gas Storage Facilities in France

Wednesday, September 16th, 2009

Contract brings total to 13x GE Oil & Gas ICL units sold since introduction in 2007 Florence, Italy – September 15, 2009– GE Oil & Gas has today announced that it ...


Chevron and KOGAS Sign Gorgon Gas Deal

Tuesday, September 15th, 2009

Australian subsidiaries of Chevron Corporation (NYSE:CVX) and Korea Gas Corporation (KOGAS) have signed a Heads of Agreement (HOA) in Perth last night for the delivery of 1.5 million tonnes per ...


Chevron Makes Final Investment Decision to Construct Gorgon Natural Gas Project

Monday, September 14th, 2009

Emerges as One of the World’s Largest Natural Gas Developments Project Will Be a Global Leader in Applying Underground Carbon Dioxide Injection Technology Chevron Corporation (NYSE:CVX) today announced that its subsidiary, Chevron ...


CME Group Announces the Launch of New Petroleum Products and Natural Gas Liquids Futures Contracts

Saturday, September 12th, 2009

CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for eight new petroleum products and nine natural gas liquids futures ...


Oil news from the web

Thursday, September 10th, 2009

National Petroleum Corp. issued a written letter to Calgary-based Verenex Energy Inc. terminating a February acquisition agreement. Verenex had agreed to the takeover bid by CNPC, which involves Libyan leases. CNPC ...


Crude oil for August 2009 delivery up $0.50, or 0.8%, to $60.19 a barrel ;London Brent up $0.62, or 1%, to $61.31 ; EU member states and Turkey have signed a transit agreement

Tuesday, July 14th, 2009

 Pemex (Petroleos Mexicanos) will invite contractors to take part in bidding for the Coridon natural gas project Burgos region in northern Mexico. The company said that it could take four months ...


CME Group Announces the Launch of Clearing Services for Physical Natural Gas Liquids

Thursday, July 2nd, 2009

CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of clearing services for six new physically delivered natural gas liquids futures contracts. Clearing services will ...


BG Group alliance with EXCO Resources, Inc. to develop US shale gas

Wednesday, July 1st, 2009

BG Group today announced an alliance with EXCO Resources, Inc. (NYSE:XCO), a US oil and natural gas exploration and production company. Key points Upstream BG Group acquires a 50% interest in 120 000 ...


Gazprom and Nigerian National Petroleum Corporation sign Agreement on setting up joint venture

Friday, June 26th, 2009

On June 24, 2009, as part of the official visit by Dmitry Medvedev, President of the Russian Federation to the Federal Republic of Nigeria, Gazprom and the Nigerian National Petroleum ...


ExxonMobil Expands Natural Gas Processing Capacity in Piceance Basin

Tuesday, June 23rd, 2009

Facilities in place to steadily increase supplies to U.S. markets Drilling technology, best practices produce more gas more efficiently HOUSTON--(BUSINESS WIRE)--ExxonMobil Production Company announced today the completion of new field processing capacity ...


Oil News from around the web, US crude rose $1.28 cents to $71.90 by 1122 GMT after falling below $70 earlier in the day. London Brent crude rose $1.37 to $71.61

Tuesday, June 16th, 2009

The Chinese National Petroleum Corp. announced plans to begin drilling operations at the Azadegan oil field in Iran, one of the largest in the world. CNPC said it signed a $2 ...


Chevron Completes Sale of Marketing Business in Kenya

Monday, June 1st, 2009

Chevron Corporation (NYSE:CVX) today announced that its subsidiary, Chevron Africa Holdings Ltd., has completed the sale of Chevron Kenya Ltd. to Total Outré Mer. Chevron announced the initial sales agreement ...


Talisman Energy Announces a Significant Discovery in Colombia

Wednesday, May 20th, 2009

CALGARY, ALBERTA--(Marketwire - May 20, 2009) - Talisman (Colombia) Oil & Gas Ltd., a wholly owned subsidiary of Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) ("Talisman"), has announced a significant gas condensate ...


Gazprom and Srbijagas sign Basic Cooperation Agreement in the framework of South Stream project implementation

Monday, May 18th, 2009

Alexey Miller, Chairman of the Gazprom Management Committee, and Dusan Bajativic, Director General of Srbijagas, signed a Basic Cooperation Agreement on implementation of the South Stream project on the ...


Eni and Egypt’s Ministry of Petroleum announce new co-operation initiatives in the hydrocarbon sector

Wednesday, May 13th, 2009

This is another example of Eni implementing its cooperation model in countries where it operates, integrating traditional business with activities capable of satisfying the energy needs of producing countries and ...


Heritage Oil chairman’s statement

Thursday, April 30th, 2009

I am pleased to report that 2008 was another year of very strong progress for Heritage both operationally and in terms of positioning the Company for steady near- and long-term ...