Oil and Gas Industry Latest News

20.08.2014 OPEC ‘unruffled by oil price slide’

OPEC is not worried about a slide in oil prices toward $100 a barrel, delegates from the producer group said, with current levels seen as acceptable for producers while higher seasonal demand in the coming weeks was expected to support the market.

20.08.2014 European Gas Reverses Biggest Drop Since 2009 on Ukraine

European natural gas prices are reversing their biggest slump in five years as concern mounts that tension between Russia and Ukraine will again disrupt flows to the region.

20.08.2014 U.S. Rig Count Keeps Rising as Natural Gas Drilling Improves

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI - Analyst Report) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country).

20.08.2014 Omega Completion Technology wins Statoil contract

Independent well completion and intervention technology developer and manufacturer Omega Completion Technology has secured a completions framework contract with Statoil ASA.

20.08.2014 Chariot Agrees Farm out in Brazil

Chariot Oil & Gas Limited’s wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited through its local subsidiary AziBras Exploração de Petróleo e Gás Ltda, the company reported in a news release.

20.08.2014 Statoil Officially Opens Gudrun

Norwegian prime minister Erna Solberg officially opened the Gudrun platform in the North Sea today, 19 August. This is the first new Statoil-operated platform on the Norwegian continental shelf (NCS) since Kristin in 2005.

20.08.2014 Platts announces global petrochemical prices rose 4% in July

Prices in the $3-trillion-plus global petrochemicals market rose for a second consecutive month, up 4% in July to $1,446 per metric ton (/mt), following a 2% monthly advance in June, according to the just-released monthly Platts Global Petrochemical Index (PGPI).

19.08.2014 ASCO opens $110m Australian Marine Supply Base

International oilfield support services company ASCO today (19th August) opened its new Marine Supply Base in Darwin, Australia. The official opening was attended by the Chief Minister of the Northern Territory, the Hon. Adam Giles at a ceremony on site today.

18.08.2014 Apache Announces Australian Oil Discovery

US energy firm Apache on Monday announced an oil discovery off northwestern Australia which it said could potentially represent a new oil province for the country.

18.08.2014 AWE acquires 40% interest in China block

AWE Limited (ASX: AWE) today announced that it has signed a Farm-in Agreement to acquire a 40% working interest in Block 09/05, Offshore Bohai Basin, China, from a wholly owned subsidiary of ROC Oil Company Limited (ASX: ROC).