Oil and Gas Industry Latest News

02.09.2014 Saudi Arabia Power, Oil & Gas Sectors Account for 60% of SR84.9bn Contracts

Saudi Arabia recorded a significant upswing in the value of awarded contracts during the second quarter of 2014 as it reached SR84.9 billion. It marked a strong rebound from the previous quarter, a local bank says in its report.

02.09.2014 Nigeria’s Rising Oil Production Increases OPEC Output to One-year High

Surging oil production in Nigeria led output from the Organisation of Petroleum Exporting Countries (OPEC) to a one-year high in August, a Bloomberg survey showed.

02.09.2014 Rise in US Shale Oil Output Seen to Continue Until 2020: SG

The rise in US shale oil production is currently expected to continue up until 2020, the US Energy Information Administration said in a report, after which time it will stabilize before falling the next decade.

02.09.2014 ONGC Videsh in Talks with Pemex for Mexico Eploration

ONGC Videsh (OVL), the overseas subsidiary of state-run explorer ONGC, is in talks with Petróleos Mexicanos (Pemex), the national oil company of Mexico for a potential tie-up to pick up equity in exploration and production assets in the Latin American nation.

02.09.2014 Etame Marin Production Restarted

VAALCO Energy saw production resume from the Etame Marin block offshore Gabon following the successful completion of maintenance work on the FPSO serving the block.

01.09.2014 Statoil Resumes Ordinary Operations at In Amenas

The Statoil corporate executive committee has decided that ordinary rotation is to be resumed at the plant as all defined security measures have been implemented.

01.09.2014 Kongsberg to Supply Integrated Control and Safety System for BW Offshore

Kongsberg Maritime Engineering (KME), the wholly owned Engineering, Procurement and Construction (EPC) subsidiary of global maritime technology developer Kongsberg Maritime, will deliver an Integrated Control and Safety System for the new BW Offshore 'Catcher FPSO'.

01.09.2014 Gazprom to Start Gas Supplies to China in 2019

Gazprom has set the start of gas supplies to China for 2019, the Russian company said after a meeting between its CEO Alexei Miller and China's First Deputy Prime Minister Zhang Gaoli.

01.09.2014 New Licensing Regulations Approved in Mozambique

The government of Mozambique has new regulations on the licensing of petroleum technicians. The new regulations were approved by the Ministry of Energy by way of Ministerial Order No.

01.09.2014 Saudi Aramco Seeks Interest for Work on Unconventional Gas-sources

Four companies have expressed interest in bidding for work on unconventional gas in Saudi Arabia as the world's top oil exporter pushes ahead with plans to develop challenging shale deposits, industry sources said.