Oil and Gas Industry Latest news

27.11.2013 Russia’s Rimera Upgrades Geophysical Business

New equipment for well research has arrived at Yuganskneftegazgeofizika, a Yugansk-based plant of Rimera.

27.11.2013 French Total Withdraws from Russia’s Shtokman

Total is going to exchange its 25% of shares in Shtokman Development AG, the operator of the first stage of the Shtokman field development in the Barents Sea, for a share in Gazprom’s other project.

27.11.2013 Lebanese Newspaper Says Oil Companies Eye Lebanon Despite Auction Delay

Most foreign oil firms are still keen to operate in Lebanon despite the delay in launching the offshore gas auction, The Daily Star reported on November 27, citing sources.

27.11.2013 India’s ONGC May Buy BHP Blocks

State-owned ONGC is likely to buy stakes in 9 exploration blocks that BHP Billiton decided to surrender last month, The Times of India reported on November 27.

27.11.2013 India’s Reliance May Be Allowed to Increase Gas Price

Reliance Industries (RELI.NS) may be allowed to hike rates for its gas from April after it offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output, the petroleum minister said, Reuters reported on November 26.

27.11.2013 Azerbaijan’s SOCAR Increases Gas Production in January-September

The State Oil Company of Azerbaijan (SOCAR) produced 5.15 billion cubic meters of gas in January-September compared to 5.12 billion cubic meters in January-September 2012, Trend has reported, citing SOCAR as saying on November 27.

27.11.2013 Russian Watchdog to Freeze Transneft Pipeline Monopoly Tariffs

Russia’s Federal Tariffs Service has prepared and submitted a draft ruling to the government to freeze the tariffs of domestic pipeline monopoly Transneft in 2014, a service spokesperson told Prime on November 27.

27.11.2013 Putin Says No Revision of Gas Deal with Ukraine

Russia has not discussed with Ukraine any possible revisions to the natural gas contracts between the two countries following Kiev’s decision to postpone the signing of an association agreement with the E.U., Russian President Vladimir Putin said late on November 26 as c

27.11.2013 TAP Pipeline Director Says Turkey to Become Gas Transportation Hub

Turkey is destined to be the hub for natural gas transportation with the Southern Gas Corridor, an ambitious European initiative to bring natural gas to Europe from the Caspian, Middle Eastern and even eastern Mediterranean regions, Michael Hoffmann, the Trans Adriatic P

27.11.2013 Lukoil EBITDA up 26% Quarter on Quarter in Q3 2013

Lukoil on November 26 published consolidated US GAAP financial statements for the third quarter of 2013.