Oil and Gas Industry Latest News

22.09.2012 Europe’s Shale Gas ‘Revolution’: Why Russia Is Shrugging Its Shoulders

Poland last year unveiled designs not only to cast of its irksome energy dependence on Russia, but also to become a European energy exporter by making a drive for shale gas production starting in 2014. The European power is hoping to repeat the United States’ shale gas revolution after Poland published surveys that estimated it is sitting on colossal untapped gas deposits lodged in shale rock. Such reserves may extend throughout Europe.

15.11.2012 BASF, Gazprom to Swap Assets

Gazprom and BASF have signed a basic agreement to swap assets of equivalent value. The transaction is to be completed by the end of 2013.
As a result, BASF will expand its production of oil and gas to exit the gas trading and storage business.

15.11.2012 Polish state controlled firms push back decision on Shale Joint venture Project

Five state controlled Polish companies said they have extended the deadline to February on a decision about the structure of its potential joint venture for exploration for shale gas in Poland.

15.11.2012 Ukraine to sign Gas PSA with Chevron, Exxon, Shell in December

Ukraine plans to sign PSA with Chevron, Exxon Mobil and Shell to develop shale gas and offshore field in the first half of December, Environment and Natural Resources Minister Eduard Stavitsky said.

15.11.2012 Russian Government to issue Lukoil benefits

The Russian government has agreed to apply special tax regimes to several fields operated by Lukoil in the Caspian allowing the private company to  operate at a profit.

15.11.2012 TNK-BP announced eight tenders for the EPC contract for $ 500 million

In the course of the contract in 2013, TNK-BP announced eight tenders for a new model of contracting EPC (Engineering Procurement Construction) for a total of about $ 500 million.

14.11.2012 Gazprom Postpones Development of Shtokman Field

Gazprom has indefinitely postponed development of its giant Shtokman gas field, the latest delay to its yearslong efforts to tap the Arctic field with France's Total SA FP.FR -0.84% and Norway's Statoil ASA STL.OS -0.07%.

14.11.2012 Gazprom to Start South Stream Construction Dec 7

Russia's gas monopoly Gazprom OAO plans to start construction of the 3,600-kilometer South Stream pipeline Dec. 7 after confirming the final investment project Nov. 14, the company's Chief Executive Alexei Miller said Tuesday, Russian news agencies reported.

14.11.2012 BP, AAR Settle all Disputes Surrounding TNK-BP

BP and its Russian partner AAR say they have settled all disputes between them as both prepare to sell their stakes in their lucrative but contentious joint venture, TNK-BP.

14.11.2012 Gazprom, Japan Agreed on Cooperation Through 2014

Gazprom and Japan's Agency for Natural Resources and Energy have signed a program on scientific and technical cooperation for 2012-2014.