Oil and Gas Industry Latest news

25.11.2013 South Stream Pipeline Construction Started in Serbia

Serbia hosted on November 24 the ceremony of welding the first joint of the Serbian section of the South Stream gas pipeline, Gazprom’s press service has said. The ceremony took place in the vicinity of Sajkas village, South Backa District.

25.11.2013 Turkmenistan to Buy Oil Tankers

Turkmenistan plans to purchase oil tankers, cargo and passenger ferries and towing vessels in line with the order of the country's State Service of Maritime and River Transportation, Trend reported on November 24, citing Turkmen government information service Turkmen Dov

25.11.2013 South Africa’s CAMAC to Invest $270 Million in Nigeria

CAMAC Energy Incorporated has entered into a definitive agreement with the Public Investment Corporation Limited of South Africa for a $270m equity investment to boost its operation in the Nigerian oil and gas industry, the Nigerian newspaper Punch reported on November 2

25.11.2013 Wintershall Halts Onshore Oil Production in Libya

German oil and gas company Wintershall, part of the BASF group, has been forced to halt oil production in Libya as exports remain disrupted by protestors seizing shipping ports, Reuters reported on November 24.

25.11.2013 Tullow Oil Makes Another Find in Kenya

Tullow Oil has made its fifth consecutive oil discovery since beginning drilling operations in Kenya last year, Irish Examiner reported on November 23.

25.11.2013 India to Start Drilling for Shale Gas

India will begin its first commercial exploration of shale gas — natural gas that is found trapped within shale formations below the earth surface — on November 26, with state-run Oil and Natural Gas Corporation (ONGC) launching drilling operations at Jambusar near Vadod

25.11.2013 India’s ONGC to Buy Stake in Vietnam Gas Project from Chevron

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is looking to buy a stake in US supermajor Chevron's $4.3 billion Block B gas project in Vietnam, the Indian newspaper Business Standard reported on November 24.

25.11.2013 Russia to Start Building South Stream in Turkey Next Year

Russia will start building the maritime stretch of the South Stream natural gas pipeline in Turkey in 2014, President Vladimir Putin said on November 22, Prime has reported, citing RIA Novosti.

25.11.2013 Russia’s Rosneft Takes Control over Brazil’s Solimoes Project

Rosneft announces that its subsidiary Rosneft Brazil on November 22 signed an agreement and related preliminary documentation with HRT subsidiary HRT O&G to acquire additional 6% in the Solimoes project.

25.11.2013 Norway’s Statoil Finalizes Research Agreement with NASA

Statoil and NASA have formed an agreement to explore a wide range of technologies to assist Statoil in the search for oil and gas exploration and production efforts, which are increasingly moving into frontier regions, Statoil’s press service said on November 22.