Oil and Gas Industry Latest news

26.12.2013 Bashneft Acquires Bashneftegazrazvedka And Licence Area In Bashkortostan

Bashneft acquired LLC Bashneftegazrazvedka, which holds a licence for geological exploration of subsoil blocks aimed at prospecting and evaluating hydrocarbon reserves at the Vostochno-Ikskiy licence area in the Bakalinsky District of the Republic of Bashkortostan (the l

26.12.2013 Tethys Oil announces new appraisal well yields record flow rates from Block 4 onshore Oman

The appraisal program on the recently discovered structure in Block 4 onshore the Sultanate of Oman (B4EW4) continues with another very successful well.

26.12.2013 Rosneft and NOVATEK agree assets swap

Rosneft has signed an agreement with NOVATEK to swap assets, the company reported in a news release. 40% of shares in Artic Russia B.V. held by Rosneft will be swapped for 51% shares in Sibneftegas held by NOVATEK.

26.12.2013 Changes to the ISO 9001 Standard

A revised issue of the ISO 9001 standard is scheduled to be released in September 2015.

26.12.2013 Det Norske Reports Dry well at Mantra

Exploration well 31/3-4 on the Mantra prospect offshore Norway has encountered reservoir quality sands but all intervals were water wet. Det norske is partner in the 551 license with a 20 percent interest.

26.12.2013 China's Dependency On Natural Gas Imports Rises

China's dependency on natural gas imports will continue to increase as the country is trying to reduce its fossil fuel consumption and improve air quality, the state-run China Daily reported Wednesday.

26.12.2013 China Crude Oil Stocks Down 2.85% On November

China's commercial crude oil inventories fell for a second straight month in November, official news agency Xinhua said on Tuesday, with some refineries drawing on crude stockpiles after a pipeline blast in eastern China killed 62 people.

26.12.2013 Turkey-KRG oil flow to begin after tests: Minister

Test flows for northern Iraqi oil have been completed up to Ceyhan, Turkey’s southern coastal district of the Mediterranean Adana province, Turkish Energy Minister Taner Yıldız has said, adding that oil flow would start following the tests.

26.12.2013 Lukoil Favors Allowing Foreign Companies to Explore Russian Shelf

Lukoil has proposed that foreign service companies be allowed access to conducting geological surveys in Russian territorial waters in the Baltic Sea, Terminal has reported, citing Lukoil recommendations presented at a meeting hosted by the Russian Natural Resources Mini

25.12.2013 Shenhua Energy to set up shale gas company in US with partner

China Shenhua Energy Co Ltd (Shenhua) will invest $90 million to set up a company in the US which will cooperate with Energy Corporation of America (ECA) in developing shale gas, said a filing released Tuesday on the Shanghai bourse.