Oil and Gas Industry Latest news

13.10.2014 Lego Dumps Shell after Greenpeace Campaign

Danish toy maker Lego said Thursday it won't renew a deal allowing Shell to hand out Lego sets at its gas stations in some 30 countries, following a viral campaign protesting Arctic drilling, writes Aljazeera.

13.10.2014 Tax Maneuvre in Oil Industry Will Not Affect Federal Budget — Finance Minister

Keeping 100% of export duties on petroleum products by Belarus will not considerably affect the Russian federal budget, Russian Finance Minister Anton Siluanov told journalists on Friday, reported ITAR-TASS.

13.10.2014 Lukoil Resumes Activity at Ploiesti Refinery

The installations at the Lukoil-Petrotel refinery are in the process of restarting, after a week of inactivity, according to Daniela Tudorache, head of Prahova Environmental Guard, who also mentioned that her institution was notified on Friday morning by the Russian comp

13.10.2014 Norway Joins Latest EU Sanctions on Russia

Norway has signed up to the latest package of the European Union's economic sanctions against Russia imposed on September 12, the country's Foreign Ministry said on Friday, ITAR-TASS reports.

13.10.2014 The new Minister of Energy of Kazakhstan meets Eni CEO Claudio Descalzi

The new Minister of Energy Vladimir Shkolnik , the Chairman of the Management Board of State Oil Company KazMunaiGaz Sauat Mynbayev and Eni’s CEO Claudio Descalzi met on October 10 in Astana, ENI wrote in a news release.

13.10.2014 Swala and Tullow Select Drill Target in Kenya

Swala Energy and its partner on Block 12B onshore Kenya, Tullow Oil (operator), have identified a prospect to be drilled in H2 2015. The identification of the prospect follows the successful 2D seismic campaign on the block during Q2.

13.10.2014 Iran to Finalize Studies on Gas Hydrate Reserves in Oman Sea

Iran will finalize studies on gas hydrate reserves in the Sea of Oman within the next month, said Hormoz Ghalavand, Director of exploration Dept. of the National Iranian Oil Company.

13.10.2014 Platts: Global Petrochemical Prices Fell 3% in September

Prices in the $3-trillion-plus global petrochemicals market continued to fall in September, following the drop in upstream energy prices, according to the just-released monthly Platts Global Petrochemical Index (PGPI).

13.10.2014 Statoil Sells 15.5% Share in Shah Deniz to PETRONAS for $2.2 bln

Statoil has sold its 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South Caucasus Pipeline Company (SCPC), 15.5% share in the SCPC holding company, and 12.4% share in the Azerbaijan Gas Supply Company (AGSC) to the Malay

10.10.2014 Venezuela Ordered to Pay $1.6 bln to Exxon

An international arbitration panel has ordered Venezuela's socialist government to pay $1.6 billion to ExxonMobil for the seizure of a major oil project in the South American country and other losses.