Oil and Gas Industry Latest News

31.01.2013 TNK-BP Increased Gas Production in the Orenburg Region by 26% in 2012

TNK-BP informs that OJSC Orenburgneft (a TNK-BP Group company) produced 3.4 bcm of gas in 2012, which is 26% more than in 2011.

31.01.2013 ConocoPhillips Reports Fourth-Quarter and Full-Year 2012 Results

2012 Organic Reserve Replacement of 156 Percent

31.01.2013 CNOOC Releases 2013 Business Strategy and Development Plan

CNOOC Limited released January 30 a summary of the Company’s business strategy and development plan for the year 2013.

31.01.2013 Aker Solutions to Tie Dagny Gas Production into Sleipner

Aker Solutions has been awarded the second call-off project under the Sleipner Modification Portfolio Agreement, involving the tie-in of gas production from Dagny. Contract value is NOK 650 million and the work will commence immediately.

31.01.2013 Russia’s Zarubezhneft May Join Rosneft in Venezuelan Oil Projects

Prime reports that Russian state-run oil company Zarubezhneft may participate in brownfield oil development in Venezuela jointly with Rosneft, Rosneft CEO Igor Sechin told reporters Wednesday.

31.01.2013 Ukraine Foreign Minister: Government Open to IMF Domestic Gas Price Demand

Ukraine's government is open to raising gas prices for some consumers, the country's foreign minister said Wednesday, in comments signaling that one of the major stumbling blocks to a new International Monetary Fund loan deal could be removed, Dow Jones reports.

31.01.2013 E.ON Cuts Outlook As European Energy Market Remains Tough

Dow Jones reports that German utility E.ON AG warned Wednesday that its business will remain under intense pressure in the coming years as a weak European economy continues to drag down energy demand and prices.

31.01.2013 Gazprom Selling 15-Year Bond as Investors Seek New Issues

According to a report by Dow Jones, Russian oil and gas giant OAO Gazprom Wednesday was selling a longer-dated bond as part of its two-tranche deal, taking advantage of demand among investors for new corporate bonds from the country.

31.01.2013 Edgo Hands Back Kenyan Block

Petroleum Africa reports that Edgo Energy, the exploration unit of Jordan's Edgo, has relinquished its license in Kenya, citing technical difficulties in drilling. The company held a stake in Kenya’s deepwater Block L26.

31.01.2013 CNPC Report: China’s Dependency on Imported Crude Oil to Approach 60 Percent in 2013

ChinaScope Financial reports that according to the report released by China National Petroleum Corporation (CNPC) Economics & Technology Research Institute yesterday, China’s oil demand for 2013 is expected to reach 514 million metric tons, up 4.8 percent year-on-yea