Oil and Gas Industry Latest news

06.12.2013 Azerbaijan’s Shah Deniz Second Stage to Cost USD 40 Billion

Shah Deniz gas condensate field partners are going to spend USD 40bn on the second stage of the project, BP regional director Gordon Birrell told the Third Caspian Forum in Istanbul on December 5.

06.12.2013 EU Seeks Renegotiation of South Stream

The European Commission on December 5 called for EU member states to renegotiate the terms of their agreements with Gazprom on the South Stream gas pipeline, saying some aspects of the project were unlawful, RIA Novosti has reported.  Gazprom's plans to operate the pipel

06.12.2013 Pakistan, Iran to Restart Gas Pipeline Project

In a major development, Pakistan and Iran are set to thrash out a strategy to materialise the much-delayed Iran-Pakistan gas pipeline project during talks in Tehran on December 9, a senior official of the Ministry of Petroleum and Natural Resources said, The Peninsula of

06.12.2013 Turkey to Import USD 350 Million Worth of LNG from Qatar

Turkey will import 350 million U.S. dollars' worth of liquefied natural gas from Qatar to meet its increasing demand this winter, semi-official Anadolu news agency quoted Turkish energy minister as saying December 5, Xinhua has reported.

06.12.2013 Perenco Starts Oil Production in North-Eastern Peru

Anglo-French oil company Perenco has started production at its Block 67 concession in north-eastern Peru, a small accomplishment for a sector that has faced a number of setbacks recently, Peruvian Times reported on December 5.

06.12.2013 Russia Expected to Revise South Stream Pipeline Plan to Comply with EU Rules

Gazprom's giant South Stream gas project cannot operate on EU territory unless it complies with the bloc's energy law, and it could take years to do so, the European Commission said on December 4, Reuters has reported.

06.12.2013 Egypt Signs Exploration Deals with Apache, Shell, GDF Suez

Egypt signed oil and gas exploration agreements on December 4 with Apache Corp, Royal Dutch Shell and GDF Suez, Reuters has reported, citing the Egyptian state news agency.

06.12.2013 Iran Expects Western Firms to Revive Ageing Fields

Iran's leading oil negotiator says Tehran wants Western oil companies to revive its giant ageing oilfields and develop new oil and gas projects once sanctions are lifted, Reuters reported on December 5.

06.12.2013 China Produces 143 Million Cubic Meters of Shale Gas

The National Energy Administration announced on December 4 that China's commercialized shale gas production has reached 143 million cubic meters, China Daily reported on December 5.

06.12.2013 Iran Denies Importing Turkmen Gas

National Iranian Gas Company's spokesperson has denied media reports on importing 100 million cubic meters of natural gas from Turkmenistan, Azernews reported on December 6.