Oil and Gas Industry Latest news

22.07.2014 Commercial Production Begins at Chevron's New Premium Base Oil Plant

Chevron Corporation, announced that it has begun commercial production of premium base oils from a newly constructed manufacturing facility at the company’s Pascagoula refinery.

22.07.2014 GE Gas Engine Technology chosen for new combined heat and power Project in Mexico

GE’s Distributed Power business (NYSE:GE) announced today that its channel partner in Mexico, Smith Power Mexico S de RL de CV, will provide its gas engine technology to engineering, procurement and construction (EPC) contractor SEISA for Enerkin SAPI de C.V.’s (Enerkin)

22.07.2014 China's President Xi Jinping signs Venezuela oil deal

Chinese President Xi Jinping has signed a series of oil and mineral deals with Venezuela.

They include a $4bn (£2.34bn) credit line in return for Venezuelan crude and other products.

22.07.2014 Norway Begins Seismic Mapping Around Disputed Svalbard

A Norwegian seismic vessel has started mapping of the disputed shelf around the Svalbard archipelago. The Norwegian Petroleum Directorate has commissioned the mapping, which is conducted by the Dolphin Geophysical company.

22.07.2014 Platts: Russia to consider gas exports by independent East Siberian producers

Russia's President Vladimir Putin has asked his government to consider allowing independent producers to export gas from new fields in East Siberia and the Far East by September 1 in a move that would effectively spell an end to Gazprom's export monopoly.

21.07.2014 Russian Firm Nabs Ethiopian Block

Ethiopia’s Ministry of Mines granted an oil exploration concession to GBP Global Resources out of Russia. The exploration agreement was signed by Ethiopian Mines Minister Tolosa Shagi and GBP Global Resources representative Alexander Ivanov.

21.07.2014 Eni Signs Cooperation Agreement With Republic of Congo

The Congolese Minister of hydrocarbons, André Raphael Loemba, and Eni CEO, Claudio Descalzi, in the presence of President of Congo Dennis Sassou Nguesso and the Italian Prime Minister, Matteo Renzi, today signed in Brazzaville a cooperation agreement which states Eni’s i

21.07.2014 Lundin Petroleum completes Gohta appraisal well

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of appraisal well 7120/1-4S in the western part of the Gohta discovery in PL492 has been successfully completed.

21.07.2014 SembCorp Marine secures contract worth $600 Million from Saipem SA

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola.

21.07.2014 Foster Wheeler-Led JV Awarded Feed Contract for Nafusah Onshore Oilfield Development in Libya

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations