Oil and Gas Industry Latest News

13.08.2014 Petrofac awarded a refinery contract in Malaysia

Petrofac, the international service provider to the oil and gas industry, has been awarded an Engineering, Procurement, Construction and Commissioning (EPCC) contract by PRPC Refinery and Cracker Sdn. Bhd.

13.08.2014 China to raise natural gas prices for industries

China will pass on some of the higher costs of natural gas to consumers, but again excluded residential users in its first price increase in more than a year.

13.08.2014 Oil reserves found along Congo-Uganda border

A company owned by Israeli mining magnate Dan Gertler said it has discovered vast potential reserves of oil in the strife-torn east of the Democratic Republic of Congo.Oil of DR Congo, a subsidiary of the Fleurette Group, said in a statement that seismic testing from Lak

13.08.2014 Australian Federal Court Orders LNG Workers to Halt Protest

Union workers in Australia who disrupted construction at the site of more than $60 billion in natural gas export projects were ordered to stop their strike, according to contractor Bechtel Group Inc.

13.08.2014 Mexico prepares to list oil fields open to foreign bids

Key details of Mexico’s overhaul of its energy industry will come into focus on Wednesday, when longtime oil monopoly Pemex learns which fields it gets to keep for future exploration.

13.08.2014 International oil producers halt northern Iraq operations

Six international oil companies working in Iraq's Kurdish region, including Exxon and Chevron, have decided to suspend production and evacuate their staff for security reasons.

12.08.2014 Iran oil output up 11% in four months

An Iranian deputy oil minister says Iran’s oil production increased by 11 percent in the first four months of the current Iranian year (started March 21).

12.08.2014 Oil market well supplied despite conflicts - IEA

Huge rises in oil production from North America are keeping oil markets increasingly well supplied, the West's energy watchdog said on Tuesday, suggesting oil prices are unlikely to rise much soon despite conflicts near key oil producing areas.

11.08.2014 Kara Sea oil resources comparable to Saudi Arabia - Sechin

In the presence of leaders of ExxonMobil and the Norwegian North-Atlantic Drilling, Sechin reported to the president about the launch of the drilling operation at the University-1, the company’s historical well in the Kara Sea.

11.08.2014 Iran Ready to Bring Gas Supplies to Europe via Nabucco

Iran has expressed willingness to supply gas to Europe via the Nabucco gas pipeline.

Ali Majedi, Deputy Oil Minister in charge of International Affairs, announced that two European countries had already expressed interest in the project.