Oil and Gas Industry Latest News

21.12.2012 TNK-BP Announces Discovery of New Fields in Orenburg Region

TNK-BP announces the discovery of new oil fields in the Pokrovsko-Sorochinskiy and Radovskiy blocks, with estimated potential recoverable reserves of 4 million tonnes in the ABC1 category and 1 million tonnes in the C2 category.

21.12.2012 Igor Sechin and Bob Dudley Discuss Rosneft and TNK-BP Integration

On December 19 Igor Sechin, Rosneft President and Chairman of the Management Board held a working meeting with BP CEO Bob Dudley to discuss the integration of Rosneft and TNK-BP.

21.12.2012 ConocoPhillips Announces Further Progress on Asset Disposition Program with Intended Sale of Nigerian Business Unit

ConocoPhillips (NYSE: COP) today announced it has entered into agreements to sell its Nigerian business unit for a total of $1.79 billion plus customary adjustments.

21.12.2012 KMG EP Announces Budget and Production Plan for 2013

KMG EP’s Board of Directors approved the company's budget for 2013 on December 20.

21.12.2012 Total and CNODC Farm-in to Tethys' Tajikistan Assets

Tethys Petroleum Limited ("Tethys" or "the Company") (TSX:TPL)(LSE:TPL), the oil and gas exploration and production company focused on Central Asia, announced December 21 that its subsidiary, Kulob Petroleum Limited, has signed a farm-out agreement ("FOA", for the Bokhta

21.12.2012 Statoil makes third discovery offshore Tanzania

Statoil today announces that the Lavani-2 exploration and appraisal well has resulted in a new natural gas discovery offshore Tanzania.The Statoil-operated Lavani-2 well successfully appraised the Lavani-1 discovery reservoir in the Palaeogene.

20.12.2012 Gazprom Signs Corrective Gas Price Contract with PGNiG

Gazprom has signed a revised gas price deal with Poland’s PGNiG, bringing the terms of its natural gas deliveries into line with trends on spot gas markets, the gas monopoly said on Tuesday.

20.12.2012 Rosneft and Pirelli Sign Cooperation Agreement

Rosneft and Pirelli & C. S.p.A. signed an agreement to develop cooperation in trade and marketing. The agreement was signed by Igor Sechin, President and Chairman of the Management Board at Rosneft, and Marco Tronchetti Provera, Managing Director of Pirelli & C.

20.12.2012 Russia ready to grow gas imports to Turkey by 3 Bcm/year: energy ministry

Russia is ready to increase its gas supplies to Turkey by 3 billion cubic meters/year, a spokeswoman for Russia's energy ministry told Platts late Tuesday.

19.12.2012 Rosneft and Saras sign agreement on cooperation for the purpose of establishing a JV

Rosneft and Saras S.p.A. executed an agreement setting forth their intention to create a 50/50 Joint Venture for processing crude oil and further sale of petroleum products.