Oil and Gas Industry Latest News

28.08.2014 IEA: Policy Uncertainty Threatens to Slow Renewable Energy Momentum

The expansion of renewable energy will slow over the next five years unless policy uncertainty is diminished, the International Energy Agency (IEA) said today in its third annual Medium-Term Renewable Energy Market Report.

28.08.2014 Alfa Laval Wins SEK 240 million Offshore Pumping Systems Order in South Korea

Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has won an order to supply Framo pumping systems to Samsung Heavy Industries in South Korea.

28.08.2014 Wärtsilä Signs Long-Term Maintenance Agreement to Support Harvey Gulf’s LNG Offshore Supply Vessels

Wärtsilä, the marine industry’s leading solutions and services provider, has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf).

28.08.2014 Algeria to Launch New Investment Plan

A new five-year investment plan is being launched by Algeria; the plan is worth $262 billion and is aimed at boosting domestic production and moving the economy away from its reliance on the petroleum sector.

28.08.2014 Gazprom Needs Large Fleet for Arctic Reserves Development

Despite sanctions, Russian oil and gas companies are more active than ever in establishing contacts at the huge oil exhibition ONS in Stavanger this week, reports Barentsobserver.com

27.08.2014 DNV GL Launches Interactive Arctic Risk Map to Communicate Region’s Complex Risk Picture

ONS, Stavanger: The world’s need for energy is driving interest in further industrial activity in the Arctic, yet the region’s conditions are highly variable depending on the type of activity, location and time of year. This creates a complex risk picture.

27.08.2014 EIA Predicts 75 Percent Increase in Mexico’s Oil Output

Mexico’s actions to end its state monopoly on oil and natural gas will spur a “profound” increase in country’s oil production, raising it by about 75 percent by 2040, the U.S. Energy Information Administration (EIA) predicted, according to thehill.com portal.

27.08.2014 Saudi Aramco CEO: Oil Industry ‘Needs Timely Investments’

The president and chief executive officer of Saudi Aramco, the world’s biggest oil producer, said that rising oil-sector costs and global turmoil could lead to a lack of oil supplies down the line, if companies fail to make sufficient investments, Arabnews portal reports

27.08.2014 Johan Sverdrup: The Making of a Giant

Aker Solutions has assembled one of its biggest engineering teams ever to deliver the initial plans for the engineering and design phase of the giant North Sea Johan Sverdrup oil deposit.