Oil and Gas Industry Latest news

27.08.2014 Saudi Aramco CEO: Oil Industry ‘Needs Timely Investments’

The president and chief executive officer of Saudi Aramco, the world’s biggest oil producer, said that rising oil-sector costs and global turmoil could lead to a lack of oil supplies down the line, if companies fail to make sufficient investments, Arabnews portal reports

27.08.2014 Johan Sverdrup: The Making of a Giant

Aker Solutions has assembled one of its biggest engineering teams ever to deliver the initial plans for the engineering and design phase of the giant North Sea Johan Sverdrup oil deposit.

27.08.2014 Aasta Hansteen Moving Boundaries

Aasta Hansteen and Polarled are moving the boundaries for technology, deep waters and ripple effects on the Norwegian continental shelf (NCS).

27.08.2014 Saudi Aramco CEO Says OPEC Will Take Oil Price 'as it Comes'

The global oil price is market driven, fluctuating with supply and demand and the Organization of the Petroleum Exporting Countries or the International Energy Agency should not try to control it, the chief of Saudi Arabia's state oil producer said.

27.08.2014 Shell Announces Marjoram-1 Gas Discovery in Deep-water Malaysia

Shell announces further exploration success in Malaysia with another gas discovery at the Shell-operated deep-water Marjoram-1 well.

24.08.2014 Statoil Wins Drilling permit for well 7125/4-3 in production licence 393 B

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7125/4-3, cf. Section 8 of the Resource Management Regulations.

22.08.2014 North Atlantic Drilling announces acquisition of land drilling rigs in Russia

North Atlantic Drilling Ltd. has inked an agreement to purchase a significant portion of Rosneft’s land drilling fleet in Russia. Approximately 150 rigs will be acquired along with an award of new 5 year contracts with Rosneft for these units.

22.08.2014 Germany gives nod to RWE unit sale to Russian investor: sources

Germany's economy ministry will approve the sale of utility RWE's oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis, two people familiar with the matter told Reuters.

22.08.2014 Gazprom Neft Readies First Oil Shipment From Novy Port

Gazprom Neft is ready to ship out 80,000 tons of Novoportovskoye oil through the Ob Bay and towards western markets.

22.08.2014 Poland and Lithuania want EU subsidy for gas link

Polish and Lithuanian state gas companies have applied to the EU to cover three quarters of the cost of building a 500 km gas pipeline between the two nations.