Kuwait SPC Proposes Oil Firm Merger

Friday, March 12th, 2010

Kuwait's Supreme Petroleum Council (SPC), the country's highest oil policy body, has proposed merging state oil firms into one entity, according to a local newspaper report. Kuwait Petroleum Corp (KPC) is ...


Nigeria, Namibia hold talks on oil, gas

Thursday, March 11th, 2010

Joint Bilateral Cooperation talks between Nigeria and Namibia will hold in Windhoek later in the year. It was learnt yesterday that this was aimed at further strengthening bilateral relations between ...


Yemeni-Pakistani cooperation in oil, gas sectors discussed

Friday, February 26th, 2010

Yemen and Pakistan discussed here on Wednesday aspects of bilateral cooperation in fields of oil, gas and minerals. Minister of Oil and Minerals Amir al-Aydarus and the Pakistani ambassador to ...


Nigeria to help in developing Uganda’s oil, gas

Thursday, February 25th, 2010

Nigeria on Tuesday assured Ugandan government of support and assistance in developing its oil and gas sector. Acting President Goodluck Jonathan told Mr. Peters Lokeris, the Special envoy from Ugandan ...


Aker Solutions with lowest bid for subsea frame agreement

Thursday, January 28th, 2010

Aker Solutions is the lowest bidder for a four-year frame agreement to supply 61 subsea trees to Brazilian national oil company Petrobras. This has been announced at a public bid ...


Yemen, Indonesia talk cooperation in oil, gas areas

Tuesday, January 26th, 2010

Minister of Oil and Minerals Amir al-Aydarus discussed here on Monday with the Indonesian President's special envoy Alawi bin Shihab aspects of cooperation between the two countries in oil, gas, ...


Schlumberger Announces Fourth-Quarter and Full-Year 2009 Results

Monday, January 25th, 2010

Schlumberger Limited (NYSE:SLB) today reported full-year 2009 revenue of $22.70 billion versus $27.16 billion in 2008. Income from continuing operations attributable to Schlumberger, excluding charges, was $3.36 billion, representing diluted earnings-per-share ...


Strong China Growth

Friday, January 22nd, 2010

Oil prices today rose above $78 a barrel following strong Chinese growth data that counterbalanced the World Bank's bleak outlook for the global economy. For the new March delivery front-month contract, ...


Libya government ready to invest in Uganda oil refinery

Friday, January 22nd, 2010

LIBYA wants to invest in an oil refinery in Uganda should the Government decide to build one. The manager of Oil Libya, which is a subsidiary of the African Investment ...


Ajumogobia: Shell, Chevron Oil Licences for Renewal Soon

Friday, January 22nd, 2010

Minister of State for Petroleum Resources Odein Ajumogobia yesterday confirmed that his office is on the verge of renewing the oil licences jointly operated by the Nigerian National Petroleum Corporation ...


Iraq and Shell consortium sign the Majnoon Oilfield contract

Monday, January 18th, 2010

The Ministry of Oil of the Republic of Iraq, Royal Dutch Shell plc (“Shell”) and Petronas Carigali (“Petronas”) today signed a 20-year contract to provide technical assistance in the development ...


Crude oil storage facility in the Caribbean

Sunday, January 10th, 2010

China has taken over from Saudi Arabia the lease of a giant crude oil storage facility in the Caribbean that gives Beijing unprecedented access to fuel and oil markets in ...


Iraq oil deal with BP, CNPC

Thursday, November 5th, 2009

Iraq signed Tuesday a major oil deal with Britain's BP and China's National Petroleum Company (CNPC) to develop its Rumaila oilfield in southern Iraq. Iraqi Oil Minister Hussein Al-Shahristani signed the ...


Oil slips to less than $80 a barrel

Thursday, November 5th, 2009

The oil price also dropped before a report from the US Labor Department, which is forecast to show that unemployment in the world’s biggest energy user rose in October. Crude oil ...


Zarubezhneft to Explore for Oil in Cuba

Thursday, November 5th, 2009

Zarubezhneft has signed contracts with Cuba to search for oil along the island's northern coast. Zarubezhneft signed a deal with state-owned Cuba Petroleos for four almost contiguous blocks - two onshore ...


China National Offshore Oil Corporation (CNOOC)’s effort to buyoff 23 prime blocks currently owned and operated by Shell, Chevron, Exxon Mobil and Total

Tuesday, November 3rd, 2009

China National Offshore Oil Corporation (CNOOC), is said to be discussing with   the Federal Government to acquire some oil blocks, which are presently belong to the multinational oil and gas companies. ...


Royal Dutch Shell will fight any possible efforts by the Nigerian government

Monday, November 2nd, 2009

Royal Dutch Shell will fight any possible efforts by the Nigerian government to hand control of its Nigerian fields to Chinese oil companies, the Anglo-Dutch oil major's chief financial officer ...


Italy, Russia and Turkey sign joint agreement on Samsun-Ceyhan oil pipeline

Wednesday, October 21st, 2009

At the same time, representatives of Eni, Calik Holding, JSC Transneft and Rosneft, the energy companies involved. The Vice Prime Minister of the Russian Federation, Igor Ivanovich Sechin, the Russian Minister ...


RWE Dea strikes oil in Norway

Friday, October 16th, 2009

Completion of production testing (DST) of the Luno field discovery well 16/1-8 RWE Dea has, together with Lundin Petroleum (Operator) and Wintershall, successfully completed production testing of the Luno field discovery ...


Breitling Oil and Gas Corp. Readies 2009 Drilling Plan For BREITLING-STAR #1 Project

Friday, October 16th, 2009

Breitling Oil and Gas Corp. plans to spud the BREITLING-STAR #1, its first well in its Hardman Basin project, in the fourth quarter of 2009. Breitling presently owns a 25% working ...


Nigeria fails to supply oil to Ghana

Tuesday, October 13th, 2009

 •Mills-led govt now in credibility problem The Nigerian National Petroleum Corporation (NNPC), which is holding the Federal Government’s equity in the oil and gas industry, has failed to supply crude oil ...


EIA Measures Price Uncertainty in Oil and Natural Gas Markets

Tuesday, October 6th, 2009

The U.S. Energy Information Administration (EIA) released today the first product under the Energy and Financial Markets Initiative launched in September. “Starting this month, EIA is including a quantitative measure of ...


Crude oil for November 2009 delivery declined as much as $0.72, or 1%, to $69.89 a barrel

Thursday, October 1st, 2009

Crude oil for November 2009 delivery declined as much as $0.72, or 1%, to $69.89 a barrel in electronic trading on the New York Mercantile Exchange on 30 September, Bloomberg ...


Occidental Petroleum Announces Significant California Oil and Gas Discovery

Thursday, July 23rd, 2009

Occidental Petroleum Corporation (NYSE:OXY) announced today that it has made a significant discovery of oil and gas reserves in Kern County, California. Occidental believes there are between 150 million and 250 ...


Oil News from around the web, OPEC says $50 a barrel, acceptable, New Discovery in Gabon

Friday, April 3rd, 2009

Organisation of Petroleum Exporting Countries (OPEC) yesterday stated that the current prices of crude oil, which is around $50 a barrel, can be acceptable given the current economic environment. ...


GE Energy Opens New Sales, Services and Technology Center in Moscow

Monday, March 9th, 2009

Facility to Support Power Generation, Industrial and Petrochemical Customer Needs in Russia and the CIS Region Building on a commitment to provide enhanced levels of service and support to customers in ...


New oil find in Angola’s block 31

Monday, March 9th, 2009

StatoilHydro is a partner with 13.33 percent interest in a new oil discovery in block 31 off Angola operated by BP. This is the seventeenth discovery made in block 31. The ...


BP Replaces 2008 Production by 121 Per Cent and Aims to Grow Annual Output Through to 2020

Tuesday, March 3rd, 2009

BP last year added 1.7 billion barrels of new oil and gas to its reserves base, a replacement ratio of 121 per cent, excluding acquisitions and divestments - the 15th ...


BP Makes Seventeenth Oil Discovery in the Ultra-Deep Water Block 31 Angola

Tuesday, March 3rd, 2009

Sonangol, Sociedade Nacional de Combustíveis de Angola and BP Exploration (Angola) Limited today announced the Leda oil discovery in ultra-deepwater Block 31, offshore Angola. This is the seventeenth discovery made ...


Oil News, w/e 13/02, Kosmos Energy Seeks Buyers For Ghana Oil Assets

Friday, February 13th, 2009

Oman began pumping natural gas from the West Bukha offshore field off the Musandam Peninsula, with forecasts of 40 million cubic feet per day by 2010. The Ras al-Khaimah Gas Commission ...


Ghana to seek extension of coastal line for more oil

Monday, December 15th, 2008

Accra, Dec. 15, GNA - Ghana is seeking to extend her coastal line in order to explore opportunities for more oil resources and other economic gains. About eight billion barrels of ...


Indications of oil in Brazil

Thursday, November 27th, 2008

The operator Petrobras has today confirmed to the National Petroleum Agency in Brazil (ANP) indications of oil in the Lua Nova well in the Jequitinhonha Basin, where StatoilHydro has a ...


Peter Voser to be next Chief Executive of Royal Dutch Shell plc

Wednesday, October 29th, 2008

The Board of Royal Dutch Shell plc today announced that Peter Voser will succeed Jeroen van der Veer as Chief Executive, effective 1 July 2009. Voser (50) is Chief Financial ...


CEO Paolo Scaroni met today with President Sassou-Nguesso of the Republic of Congo, Minister of Hydrocarbons, Tati Loutard and Chairman of SNPC Gokana

Wednesday, August 20th, 2008

During the meeting, the possible extension of Eni's activities in Congo, aiming at the enhancement of the Country's energy reserves and the monetisation of the offshore associated gas through power ...


Noreco makes oil discovery in Denmark

Tuesday, August 12th, 2008

Oil has been discovered in the South Tor Pod exploration well in Denmark, where Noreco owns a 6.56% share.   The South Tor Pod well discovered oil bearing chalks. The discovery is ...