Oil and Gas Industry Latest news

07.07.2014 IBM Research launches project "Green Horizon" to help China deliver on ambitious energy and environmental goals

IBM (NYSE: IBM) has announced that it is deploying the full force of its researchers in laboratories around the world in a 10-year initiative to support China in transforming its national energy systems and protecting the health of citizens.

07.07.2014 Iraq crisis: Kurds pin hopes on an oil-rich future

Iraqi Kurds have already governed their territory, a land of wheat fields and rugged mountains that extends from Iraq's northern and western border with Turkey to the Iranian border in the east, for more than two decades.

07.07.2014 U.S., EU Unlikely to Invest in Ukraine's Gas System, Analysts Say

Ukraine's move Friday toward attempting to sell nearly 50 percent in its gas pipeline system to EU and U.S.

07.07.2014 World Bank Announces $400m for Turkey Gas Facility

The World Bank will provide $400 million of additional financing for Turkey's first gas storage facility in its underground salt formation at Tuz Golu.

07.07.2014 Oil India completes 50% acquisition in Western Siberian block

Exploration and production firm Oil India Ltd (OIL) on Friday announced it has completed acquisition of 50 per cent shareholding in a subsidiary of PetroNeft Resources, which owns a block in Western Siberia, Russia. Current production from the block – License 61 – located on the eastern side of the Ob river in the oil-bearing region of Tomsk Oblast, is 2,100 barrels of oil per day.

04.07.2014 Significant Subsea Gas Hydrate Deposits Found in Okhotsk Sea

The Academician Lavrentyev scientific vessel has returned from an international expedition in the Sea of Okhotsk and Sea of Japan. The deep sea exploration will continue to help locate gas hydrates.

04.07.2014 Yamgaz SNC to manufacture equipment for Yamal LNG worth $1.6 billion

Offshore Oil Engineering Co Ltd., a Chinese company, signed a contract with Yamgaz SNC, to manufacture equipment for LNG production. The equipment is designed for Yamal's LNG plant. Offshore Oil Engineering Co Ltd.

03.07.2014 Total launches the development of Edradour and acuires a 60% stake in Glenlivet

Total launches today with its partner DONG development Edradour gas field, located west of Shetland, and acquires a 60% interest in the adjacent discovery of Glenlivet .

03.07.2014 Serbia, Hungary and Bulgaria commit to cooperation on economic development and energy security

The Chambers of Commerce and Industry of Serbia, Hungary and Bulgaria yesterday made a multilateral commitment to greater cooperation on economic development and energy security.

03.07.2014 Platts announces U.K., European natural gas prices dropped further in June

Day-ahead natural gas prices in the U.K. and continental Europe continued to fall in June after reaching multi-year lows in May, according to data just released by Platts, a leading global energy, petrochemicals and metals information provider.