Oil and Gas Industry Latest news

15.11.2013 Carnarvon Petroleum Expects Higher Oil Production in Thailand

Carnarvon Petroleum will spud the first well in its current Thailand drilling campaign within the next few days, Proactive Investors reported on November 15.

15.11.2013 Noble Energy’s Deepwater Well in Nicaragua Fails to Produce Oil

On November 13, U.S. oil company Noble Energy announced it has failed to discover “an accumulation of hydrocarbons” in the first deepwater well drilled off Nicaragua’s Caribbean coast, 168 km east of Bluefields, Nicaragua Dispatch reported on November 14.

15.11.2013 Polish PGNiG Performance Strong in January-September on Higher Oil Output

In the first three quarters of 2013, the PGNiG Group posted over PLN 2bn in net profit, versus PLN 122m in the same period last year, PNGiG’s press office said on November 14.

15.11.2013 Statoil's Oldest Platform to Remain in Service Until 2020

The Statfjord A platform in the North Sea should have been shut down several years ago, but Statoil, Centrica and ExxonMobil have now decided to extend production from the platform until 2020, Statoil said on November 14.

15.11.2013 China Cuts Fuel Prices

China's top economic planner on November 14 announced a slash in the per-tonne retail prices of gasoline by 160 yuan ($26.09) and diesel by 155 yuan, starting from November 15, Xinhua has reported.

15.11.2013 PGS Offers New Solution for Gulf of Mexico

Petroleum Geo-Services (PGS) announced on November 14 the TRITON GeoStreamer Full Azimuth survey, a new solution to complex imaging problems in the deep-water Gulf of Mexico.  PGS offer this survey as the next important advance in tailored acquisition design and state-of

14.11.2013 Gazprom Second-Quarter Profit up 30%

OAO Gazprom, the largest natural gas producer, said second-quarter profit climbed 30 percent after retroactive payments from the previous year weren’t repeated, Bloomberg reported on November 14.

14.11.2013 Russia’s Tyumen Experts Study Hard-to-Recover Reserves at Orenburgneft Field

Experts from the Tyumen oil research center (TNNTs), which is Rosneft’s subsidiary, are working on a project to produce hard-to-recover reserves at Orenburgneft’s Sorochinsko-Nikolskoye field, TNNTs press service has said.

14.11.2013 ACG Produces 24.5 Million Tons of Oil in Azerbaijan in January-September

During the first three quarters of 2013 Azeri-Chirag-Deepwater Gunashli (ACG) produced on average 663,200 barrels per day (b/d) (about 181 million barrels or 24.5 million tonnes in total) from the Chirag, Central Azeri, West Azeri, East Azeri and Deepwater Gunashli platf

14.11.2013 China, Norway May Jointly Look for Arctic Oil

Norway is deciding whether to team up with China to explore for oil in Iceland, Reuters reported on November 13, citing Icelandic authorities said, setting up a rare cooperation for the two since a diplomatic row over the award of the 2010 Nobel Peace Prize to Chinese di