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
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.
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.
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.
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
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.
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.
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.
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.
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