Oil and Gas Industry Latest News

07.03.2013 Novatek Eyes Big Role in Russian LNG Exports to China as Sechin Seeks Market Liberalization

The new 400-pound gorilla in Russia's oil industry, Rosneft, is beginning to shake up the country's gas sector, spelling trouble for state-owned monster Gazprom and providing opportunity for Russia's second-largest domestic gas producer Novatek.

07.03.2013 Scope of Drilling and Orders for Manufactured Equipment Grow as Market Strengthens

Oil&Gas Eurasia survyed executives and experts at drilling companies and equipment manufacturers about the state of drilling services in Russia. Here is what they have to say about 2013 prospects.

07.03.2013 DNV to Evaluate Two Dry Tree Semi-Submersible Rig Concepts for Use in Ultra-Deepwater

DNV in North America is awarded a USD 3 million US Department of Energy funded RPSEA project to evaluate and support the development of two cost competitive dry tree semi-submersible rig concepts, suitable for the Gulf Of Mexico in a minimum of 8,000 foot water depth wit

07.03.2013 TNK-BP to Invest $7 Million in Development of Power Supply at RORC

TNK-BP announces the introduction of fast-acting automatic load transfer system at Ryazan Oil Refinery Company (RORC). The overall project investment will exceed $7 mln.

07.03.2013 Rosneft Subsidiary Acquires Interest in ExxonMobil Gulf of Mexico Exploration Blocks

Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of Rosneft, acquires 30 percent interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies.

07.03.2013 Condor Provides Update on Kazakh Kiyaktysai Oil Discovery

Condor Petroleum Inc. (“Condor” or the “Company”) (TSX:CPI) is pleased to provide an update on the Kiyaktysai (“KN‐E‐201”) oil discovery at the Zharkamys West 1 Territory (“Zharkamys”) in Kazakhstan.

07.03.2013 Russia Hopes Venezuela Keeps Agreements Despite Chavez’s Death

Prime reports that Russia, participating in five oil projects in Venezuela, expects agreements with Caracas to be carried out after President Hugo Chavez’ death, Deputy Prime Minister Arkady Dvorkovich told reporters on Wednesday.

07.03.2013 Shale Oil Techniques Difficult to Export, Experts Say

News OK reports that governments and oil producers worldwide are watching the successful American shale oil development of the past few years, but it will be difficult for them to transport the effort outside of North America, according to speakers Tuesday at the Univers

07.03.2013 Nigeria’s Oil Output Drops by 140,000 bpd

Nigeria's National Mirror reports that the nation's oil output has dropped by about 140,000 barrels per day as a result of the shutdown of Nembe Creek trunk line in Bayelsa State that delivers crude oil from Shell’s producing fields to Bonny export terminal.