Russia to Explore North for Oil and Gas

Friday, February 26th, 2010

Russia's Energy Ministry will submit a program for comprehensive development of deposits of the Yamalo-Nenets Autonomous District and the north of Krasnoyarsk Territory until 2020 to the government for consideration ...


LUNDIN PETROLEUM APPOINTS NEW GENERAL DIRECTOR IN RUSSIA

Friday, January 22nd, 2010

Lundin Petroleum AB ("Lundin Petroleum") is pleased to announce that Daniil Schedrov has been appointed as General Director of Petroresurs LLC. Petroresurs LLC operates the Lagansky exploration block in the ...


Heritage Oil Enters Into a Letter of Intent to Sell Its Ugandan Interests for Up to US$1.5 Billion

Tuesday, November 24th, 2009

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 exploration and production company, announces ...


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 ...


History of the Oil and Gas / Petroleum Industry

Wednesday, October 7th, 2009

In 1911, the power of Standard Oil was such that the American congress voted the famous antitrust law aimed at breaking it up into three “bits”: Standard Oil of New ...


Oil News from around the web, US light sweet crude futures for October delivery traded at $68.24 a barrel,Brent crude on London’s ICE Futures exchange was down $0.68 at $67 a barrel

Monday, September 14th, 2009

Crude oil futures fell as the US dollar strengthened slightly while worries over high oil product stocks and technical resistance weighed on the market, according to Dow Jones. ------------- "Regarding new business ...


Oil News from around the web, University of Ghana introduces Masters Degree in Petroleum; Opec is expected to keep production quotas at existing levels

Monday, September 7th, 2009

Opec is expected to keep production quotas at existing levels at its meeting in Vienna on Wednesday, Iranian Opec representatives have indicated. Apart from Saudi Arabia, Iraq, Qatar, Libya, Iran and ...


Heritage Oil Announces 2009 Interim Results

Friday, August 28th, 2009

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Heritage Oil Plc, ("Heritage" or the "Company"), (TSX:HOC)(LSE:HOIL), an independent upstream exploration ...


Oil News from around the web, Nigeria’s fortunes;Azerbaijan and Turkey;Stanlow facility;Australian oil and gas block

Tuesday, August 18th, 2009

The price of oil fell to its lowest in more than two weeks because of decreased demand and growing stockpiles in the US to ensure sufficient supplies during the North ...


LUNDIN PETROLEUM RELEASES AUDITED RESERVE REPORT FOR THE LUNO FIELD, OFFSHORE NORWAY

Tuesday, July 21st, 2009

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its independent reserves auditor Gaffney, Cline and Associates (GCA) has assigned 95 million barrels of oil equivalent (MMboe) of gross ...


Oil News from around the web, Crude oil for August 2009 delivery fell 50 cents to $59.39 a barrel ;London Brent fell 40 cents to $60.12; Nigeria militants claim attack on Lagos oil depot

Monday, July 13th, 2009

TNK-BP closed the necessary transactions to take near-complete control over the shares in the Lisichansk refinery, a top producing refinery in Ukraine. The refinery, located near the eastern border in Ukraine, ...


Oil News from around the web, 67.69 dollars a barrel ; Nigeria’s current potential crude oil production at three million barrels per day

Monday, June 1st, 2009

)))New York's main futures contract, light sweet crude for July delivery, struck 68.29 dollars. Brent North Sea crude for delivery in July bounced as high as 67.69 dollars a barrel )))) ...


Crude Oil Explained

Tuesday, May 12th, 2009

Major trading centers of crude oil The major trading centers of crude oil in the world are New York Mercantile Exchange (NYMEX), CME International Petroleum Exchange of London (IPE) Tokyo Commodity Exchange (TOCOM) Types of ...


Oil News from around the web, $50 per barrel is too low for continued investment;Nigeria-Europe gas pipeline sparks fresh interest

Monday, April 27th, 2009

))))) The Organisation of Petroleum Exporting Countries (OPEC) has warned that the current crude oil price, which hovers around $50 per barrel is too low for continued investment. The 12 member ...


Oil News from around the web, Oil steadied at less than $46 a barrel on Tuesday, CNOOC has no plan to buy oil companies abroad

Tuesday, April 21st, 2009

))))) Price of crude oil fell more than six per cent, to around $47 a barrel yesterday, due to a rising value of the United States dollar and “growing caution ...


Eni signs new strategic cooperation agreements with Gazprom in the energy field

Tuesday, April 7th, 2009

Today in Moscow, in the presence of the Prime Minister of Russian Federation, Vladimir Putin, Eni and Gazprom signed significant agreements representing a further step in fostering strategic cooperation between ...


Oil News from around the web, Oil Reform, OPEC’s decision to curb crude oil production

Wednesday, April 1st, 2009

)))))))))OPEC's decision to curb crude oil production by more than 4 million barrels per day was the right move to control prices and supplies, a Saudi official said. Ibrahim al-Muhanna, adviser ...


Gazprom and SOCAR sign Memorandum of Understanding

Tuesday, March 31st, 2009

The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Rovnag Abdullayev, President of the State Oil Company of Azerbaijan (SOCAR). The parties ...


Oil News from around the web, Brazilian oil workers, Abu Dhabi National Oil Company

Thursday, March 26th, 2009

The price of OPEC basket of twelve crudes stood at 50.44 dollars a barrel on Tuesday, compared with $50.18 the previous day, according to OPEC Secretariat calculations -Oil prices dipped Wednesday ...


Halliburton Awarded $100 Million Contract

Thursday, March 26th, 2009

Extension to Provide Multiple Services for Salym Petroleum in Russia HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) has been awarded a major contract extension by Salym Petroleum Development N.V. (SPD) for exploration and production ...


Oil News from around the web, oil explorer off Cameroon and Gabon, Oil and gas contracts signed with Russia

Thursday, March 19th, 2009

World oil prices retreated in Asian trade Wednesday after topping a two-month high above 49 US dollars overnight on concerns over weak global energy demand amid the economic downturn, analysts said. ...


Oil News, w/e 25/02, NNPC Seeks $1.7bn Loan, China’s deep-water gas discovery ,Kuwaiti oil firm invests in Indonesia

Wednesday, February 25th, 2009

- NNPC Seeks $1.7bn Loan Nigeria’s quest for increased gas output to power electricity got a boost yesterday with the signing of a $1.69 billion loan agreement between the Nigerian National ...


Robert Dudley to Join BP Board

Thursday, February 19th, 2009

The board of BP p.l.c. today announced that it has appointed Robert Dudley as a director with effect from April 6, 2009. As a managing director of the BP Group ...


New energy source comes onstream at Sakhalin II

Wednesday, February 18th, 2009

Russian President Medvedev inaugurates the first LNG plant in Russia. Yuzhno-Sakhalinsk, 18 February 2009:  President Dmitry Medvedev today opened Russia's first liquefied natural gas (LNG) plant built by Sakhalin Energy Investment ...


LUKOIL GROUP BECOMES RUSSIA’S BIGGEST TAXPAYER

Thursday, January 15th, 2009

LUKOIL BOARD OF DIRECTORS SUMMARIZES PRELIMINARY RESULTS OF COMPANY OPERATION IN 2008 AND SETS OBJECTIVES FOR 2009. LUKOIL GROUP BECOMES RUSSIA’S BIGGEST TAXPAYER      A meeting of the OAO LUKOIL Board of ...


Sakhalin II starts year-round oil export

Monday, December 15th, 2008

Today Sakhalin Energy marked the commencement of year-round oil export from its new Oil Export Terminal. The terminal is located in Aniva Bay in the south of Sakhalin and forms ...


LUNDIN PETROLEUM ANNOUNCES THE RESULTS OF THE LAGANSKAYA-1 EXPLORATION WELL IN RUSSIA

Sunday, November 2nd, 2008

Lundin Petroleum AB ("Lundin Petroleum") announces that its Laganskaya-1 exploration well in the Lagansky block, situated in the northern Caspian Sea has encountered oil shows in the Neocomian sandstone reservoir. ...


LUNDIN PETROLEUM COMPLETES WELL IN PAYS DU SAULNOIS IN FRANCE

Thursday, October 30th, 2008

Lundin Petroleum AB ("Lundin Petroleum") announces that the exploration well Vaxy-1 in Pays du Saulnois in the eastern part of France has been successfully completed. Studies are ongoing to define ...


LUNDIN PETROLEUM COMPLETES EXPLORATION WELL MUNY DENG-1, BLOCK 5B, SUDAN

Thursday, October 30th, 2008

Lundin Petroleum AB (Lundin Petroleum) announces that well Muny Deng-1, drilled on the Muny Deng prospect, has reached a total depth of 2,450 metres and will be plugged and abandoned ...


Heritage Oil contracts rig to drill well in the Kurdistan region of Iraq

Thursday, October 30th, 2008

 /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./      CALGARY, Oct. 30 /CNW/ - Heritage Oil Limited (LSE: HOIL), an ...


Continuation of high-level dialogue between OPEC and Russia

Friday, October 24th, 2008

HE Dmitry Medvedev, President of the Russian Federation and HE Abdalla Salem El Badri, Secretary General of the Organisation of Petroleum Exporting Countries (OPEC) met on 22nd October, 2008, in ...


Chiyoda Awarded EPC Competition Contract for ExxonMobil’s Papua New Guinea LNG Plant

Friday, October 17th, 2008

YOKOHAMA, Japan--(BUSINESS WIRE)--Chiyoda Corporation (TOKYO:6366)(ISIN:JP3528600004) announced the award of an EPC Competition Contract for participation in an EPC design competition of the LNG Plant and associated facilities for an ExxonMobil-operated ...


Gazprom battles EU over Nigerian gas

Thursday, September 18th, 2008

NIGERIA may soon become a battle field for the European Union (EU) and Russia. The bone of contention is the country’s huge gas resources. Nigeria, with its 185 trillion cubic feet ...


BearingPoint Named By SAP As Preferred Partner In Russia For Oil and Gas And Metals and Mining Industries

Wednesday, September 17th, 2008

Recognition Underscores Firm-Wide Commitment to Global Energy Market MOSCOW--(BUSINESS WIRE)--BearingPoint, Inc. (NYSE: BE), one of the world’s largest management and technology consulting firms and an SAP® global services partner, today announced ...


Production Begins Lukoil, ConocoPhillips’ Yuzhno Khylchuyu (YK) Field

Friday, August 29th, 2008

HOUSTON, TX and MOSCOW, RUSSIA, Aug. 28, 2008--OAO LUKOIL President Vagit Alekperov and ConocoPhillips Chairman and CEO Jim Mulva today participated in a special ceremony on the occasion of the ...