Oil and Gas Industry Latest news

04.09.2014 Getting Chinese Shale Gas Out of the Ground Could be Disastrous

The Middle Kingdom is thought to have the world’s largest technically recoverable shale gas resources, as well as the third-biggest supply of recoverable shale oil—more than 30 trillion cubic meters (1,115 trillion cubic feet) of shale gas—nearly twice what the US claims

04.09.2014 Ceasefire Process Brings Sanctions Risk Relief

The escalation of fighting in eastern Ukraine immediately after the Minsk summit had raised the sanctions threat against Russia. The threats were expected to become even more pronounced in the days leading up to the NATO summit on 4-5 September.

04.09.2014 Norway's Oil Sector May See Sharp Fall in Spending

Norway's oil sector is likely to experience a sharp fall in investment in 2015 after an estimated high this year, according to a survey published Wednesday, fueling worries of an economic slowdown in one of the world's richest countries.

04.09.2014 ION Files Lawsuit Against Russian Entities for Infringement of Seismic Surveying Patent

ION Geophysical has filed a lawsuit against OJSC Marine Arctic Geological Expedition (MAGE) and Arctic and Antarctic Research Institute (AARI) in the Russian Commercial Court of St. Petersburg and Leningrad region, World Oil reported.

04.09.2014 Statoil Has Completed Wells in US Gulf of Mexico the Kwanza Basin in Angola

Statoil has completed the Martin well in US Gulf of Mexico and the Dilolo well in the Kwanza basin in Angola.

US Gulf of Mexico

04.09.2014 US Shale Boom Could Hit Africa's Oil Producers

Foreigners have been pouring money into Africa. Last year, foreign direct investment in Sub-Saharan nations hit a near record US$43 billion, boosted by new oil and gas discoveries.

03.09.2014 Baker Hughes Acquires Weatherford's Pipeline and Specialty Services Business

Baker Hughes Incorporated (NYSE: BHI) and Weatherford International plc (NYSE: WFT) today announced that they have closed the previously announced purchase and sale of Weatherford's pipeline and specialty services business.

03.09.2014 Romgaz Invests EUR 27 mln in Urziceni Gas Depot

Romgaz Medias invested EUR 27 million in increasing gas storage capacity of its depot in Urziceni, Ialomita county, according to an announcement made on Tuesday by the company.

03.09.2014 Belorusneft Sets New Drilling Record

Belorusneft achieved new drilling depth record. Now it is 5,625 m. The new record was fixed at the first ultra-deep parametric well No. 1 “Predrechickaya” on August 27. The record authorship belongs to Sergey Bolshakov’s team, operating Bentec drilling rig.

03.09.2014 Russia, Bulgaria Want to Remove South Stream from 3d Energy Package

Russia and Bulgaria are discussing the possibility of reclassifying the Bulgarian part of the South Stream pipeline into a field pipe to relieve it from the EU’s third energy package, a source familiar with last week’s talks between EU Energy Commissioner Gunther Oetting