Oil and Gas Industry Latest news

04.08.2014 Petrofac secures maintenance build contract for Shah Deniz 2 project

Petrofac, the international oil & gas facilities service provider, has secured a contract with the BP-operated prestigious Shah Deniz 2 project to provide their maintenance build capabilities.

04.08.2014 Russian billionaire wants independent gas firms to be admited to Europe-bound exports

Russian billionaire Gennady Timchenko, who fell under the U.S. personalized sanctions in March and whose companies - including independent gas producer Novatek - were placed on U.S.

04.08.2014 China's Fosun agrees $441 mln takeover of Australia's Roc Oil

Australia's Roc Oil Co Ltd on Monday accepted a A$474 million ($441 million) takeover offer from Chinese conglomerate Fosun International Ltd , saying it was better than its plan to merge with Horizon Oil Ltd.

04.08.2014 Platts launches new Rotterdam fuel oil barge and bunker assessments

Platts, a leading global provider of energy, petrochemicals and commodities information and a top publisher of benchmark price references, today launched two daily price assessments aimed at bringing greater clarity to the fuel oil barge and bunker markets.

04.08.2014 Chevron Reports Second Quarter Net Income of $5.7 Billion

Chevron Corporation (NYSE: CVX) today reported earnings of $5.7 billion ($2.98 per share – diluted) for second quarter 2014, compared with $5.4 billion ($2.77 per share – diluted) in the 2013 second quarter.

04.08.2014 Sikorski: Poland can ride out Russian energy threats

Foreign minister Radoslaw Sikorski has claimed that Poland would not be left high and dry if Russia issues counter-sanctions in the energy sector.

04.08.2014 Lukoil Optimizes Structure of Assets in Eastern Europe and Ukraine

LUKOIL and Austria’s AMIC have reached an agreement in principle to sell 100% of LUKOIL-Ukraine CFI which owns around 240 filling stations and 6 petroleum tank farms in Ukraine.

04.08.2014 OMV: Sanctions on Russia 'Will Not Hinder' South Stream

Austrian energy concern OMV has assured restrictive EU measures against Russia will not put a wheel on the South Stream gas pipeline project.

04.08.2014 Libyan Fuel Tank Fire Spreading

The fire that has engulfed the fuel tanks near Libya’s Tripoli airport is spreading and according to officials there is a risk of a humanitarian and environmental disaster. One fuel tank caught fire during a battle between rival militias near the airport.

04.08.2014 Natural gas production in Russia in January-July 2014 decreased by 1.7%

Natural gas production in Russia in January-July 2014 decreased by 1.7% year on year to 374.689 billion cubic meters, the control centre of the fuel and energy sector said on Saturday. Gas production in July fell by 7.4% year on year to 42.681 billion cubic meters. Gazprom’s gas production in July dropped by 14.8% to 25.124 billion cubic meters.