Oil and Gas Industry Latest News

27.12.2012 Statoil Expands 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.

27.12.2012 Chevron Subsidiary Acquires Operating Interest in Western Canada LNG Project

Chevron Corporation has announced that its indirect Canadian subsidiary, Chevron Canada Limited, will acquire a 50 percent operating interest in the Kitimat liquefied natural gas (LNG) project and proposed Pacific Trail Pipeline (PTP), and a 50 percent interest in approx

27.12.2012 Shell и "НовоЭнерго" стали победителями аукциона на пользование участком углеводородов на Ямале

Аукционы по 11 участкам углеводородов в Ямало-Ненецком автономном округе – Верхнехарловскому, Карасевскому, Лензитскому, Мангазейскому, Промысловому, Ручьевскому, Северо-Стахановскому, Стахановскому, Тапскому, Хадытаяхскому и Южно-Таркосалинскому – состоялись частично, н

26.12.2012 BP to Supply LNG to Indonesian Utility for 20 Years From 2013

Bloomberg reports that BP Plc signed an agreement to supply liquefied natural gas from its Tangguh plant in Indonesia to the country’s state-owned electric utility PT Perusahaan Listrik Negara for 20 years.

26.12.2012 Brent Closes Low as 'Fiscal Cliff' Looms

Reuters reports that oil prices largely recovered early losses but still closed lower on Monday as a late gasp of holiday-thinned buying failed to counter fears that the U.S. "fiscal cliff" budget crisis could erode oil demand in the world's top consumer.

26.12.2012 Iran, Iraq Set to Sign Natural Gas Contract

Iran's Deputy Oil Minister Javad Oaji said Tuesday that Iran and Iraq are set to finalize a deal on natural gas exports from the Islamic republic to Iraq in the near future, Press TV reported.

26.12.2012 CNPC: Total Production to Grow Slightly 2.0 Percent in 2012

JIANG Jiemin, Chairman of China National Petroleum Corporation (CNPC), disclosed on December 24 that the company’s total production will increase by 2.0 percent in 2012.

26.12.2012 Iran May Cancel USD 5 Bn Natural Gas Deal with China

Iran’s oil ministry spokesman, Alireza Nikzad, said December 24 that Iran may cancel a USD 5 billion offshore gas exploration contract with China as the latter has expressed its unwillingness to participate in the development of the project due to high risks involved in

26.12.2012 Sinopec, ConocoPhillips to Study Shale Gas Development in Sichuan

China Petrochemical Corporation (Sinopec Group) announced December 25 that it will jointly study shale gas development with ConocoPhillips in West China’s Sichuan basin over the next two years.

26.12.2012 Trans Adriatic Pipeline Granted Status of "National Importance" by Albania

According to the TAP Consortium, this clears the way for the drafting of the National Sectorial Plan for the TAP Project. The drafting of this document will be led by the Ministry of Economy, Trade and Energy of Albania.