Oil and Gas Industry Latest News

29.12.2012 CNOOC oil fields in operation in South China Sea

China National Offshore Oil Company Limited announced Friday that two of its oil fields in the South China Sea have started production.

29.12.2012 Struggling Sudan Opens New Oil Field

Sudan on Thursday opened its second new oil field in a week, as the country struggles to make up for the loss of billions of dollars in oil revenues lost when South Sudan separated.

28.12.2012 Chevron Announces Two Discoveries Offshore Western Australia

Chevron Corporation today announced further drilling success by its Australian subsidiary in the Exmouth Plateau area of the Carnarvon Basin, a premier hydrocarbon basin.

28.12.2012 Statoil Expands its Exploration Portfolio in Brazil

Statoil is expanding its exploration portfolio through the acquisition of 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin offshore Brazil.

28.12.2012 Aker Solutions Wins Gullfaks South Contract

Aker Solutions has been awarded a topside modification contract by Statoil to increase oil recovery at Gullfaks South. Estimated contract value is NOK 180 million.

28.12.2012 CNOOC Submitted Application for Establishment of Marine Environmental and Ecological Protection Foundation

CNOOC Limited announced that its parent company, China National Offshore Oil Corporation(“CNOOC”), has officially submitted a registration application to Ministry of Civil Affairs of the People’s Republic of China for establishment of “CNOOC Marine Environmental and Ecol

28.12.2012 Rosneft Agrees Heads of Terms for Long-Term Contracts with Glencore and Vitol

Rosneft agreed heads of terms for long-term crude supply contracts with Glencore International plc (‘Glencore’) and Vitol, two of the world’s leading trading companies.

27.12.2012 Lukoil Cuts West Qurna-2 Oil Output Plan

RIA Novosti reports that Russia’s largest privately-owned oil company LUKoil has cut its oil output plan for the West Qurna-2 oilfield in Iraq by 30 percent.

27.12.2012 Russia's Irkutsk Oil Co to raise 2013 invests 20% to 17 bln rbl

Russia’s Irkutsk Oil Company will increase investments by around 20% to 17 billion rubles in 2012, Board Chairman Nikolai Buinov, said Thursday at a news conference.

27.12.2012 Novatek To Sign Contracts For Yamal LNG In 2013

Novatek, Russia's largest independent natural gas producer, said it expects to sign contracts to supply liquified natural gas from a plant on the Yamal peninsula in Russia's Arctic in the second quarter of 2013, Vedomosti daily business newspaper reported Wednesday.