Oil and Gas Industry Latest News

18.08.2014 Orion awards $320 Million rig contract

A leading global land drilling rig manufacturer – Honghua Group Ltd.

18.08.2014 2D Seismic Surveying Operations to commence on the Newgrange Prospect

Providence Resources P.l.c. has commenced 2D seismic surveying operations over the Frontier Exploration Licence ("FEL") 6/14 ("Newgrange”), the company reported in a news release. The Newgrange prospect area lies in c.

18.08.2014 Iran to invest $2.5b to build oil terminal at Sea of Oman port

Iran is planning to invest $2.5 billion to build a new crude oil export terminal at Jask Port on the Sea of Oman, bypassing the strategic Strait of Hormuz, the only way in and out of the Persian Gulf, the managing director of the Iran Oil Terminals Company announced on S

14.08.2014 Oil industry looks for Barents development concept

Key Norwegian oil industry representatives remain at odds over how to develop oil and gas resources in the Norwegian part of the Barents Sea.

14.08.2014 ABB to Supply Cable for Offshore Wind Farm Extension in the UK

ABB has won an order worth around $30 million from DONG Energy, a leading wind power development company, to supply a high-voltage export cable system that will transmit power from the Burbo Bank Extension Offshore Wind Farm in the UK, the company reported in a news rele

14.08.2014 Brightoil gains $1.04b offshore capability in Bohai Bay

Brightoil Petroleum Holdings, a Shenzhen-based private energy company, announced that it has acquired two oil-producing blocks in Bohai Bay from the US oil and gas company Anadarko Petroleum Corp with a contract value of $1.046 billion.

14.08.2014 Exxon Ends Oil Search With Total in South Sudan as War Rages

Exxon Mobil Corp. (XOM:US), the U.S.’s largest oil company, ended exploration plans with Total SA (FP) in South Sudan, Total and the government said, a sign of faltering investor confidence in the African nation as a civil war enters its eighth month.

13.08.2014 Norway Oil Services See Russia Sanctions Risking Arctic Push

Aker Solutions ASA (AKSO), the offshore engineering company controlled by billionaire Kjell Inge Roekke, could miss opportunities to expand into Russia’s Arctic region if Europe and the U.S. uphold sanctions on the country. “If the political situation continues and the sanctions are long-term, they will mean lost market opportunities,” Chairman Oeyvind Eriksen said in Oslo yesterday. While the Fornebu, Norway-based company isn’t currently involved in any large projects in Russia, it’s “ready to consider” opportunities when the restrictions are lifted, he said.

13.08.2014 China's demand for overseas crude to expand this year

China's dependency on foreign crude will continue to increase this year despite the ongoing strife in major oil-producing nations like Iraq, a leading industry think tank said on Tuesday.

13.08.2014 The Norwegian Petroleum Directorate has granted Total E&P Norge AS a drilling permit for wellbore

The Norwegian Petroleum Directorate has granted Total E&P Norge AS a drilling permit for wellbore 34/6-3 S cf. Section 8 of the Resource Management Regulations.