Oil and Gas Industry Latest News

30.01.2013 TNK-BP to Allocate 145 Million Rubles for Social Investment in Orenburg in 2013

TNK-BP informs that in 2013 it will invest over 145 mln rubles in social and charity projects in the Orenburg region.

30.01.2013 Igor Sechin Elected Chairman of National Oil Consortium

A meeting of the board of directors of the National Oil Consortium was held in Caracas, Venezuela, on January 29. Representatives from consortium members Rosneft, Gazprom Neft, TNK-BP and Lukoil took part in the meeting.

30.01.2013 Aker Solutions Acquires Enovate

Aker Solutions has agreed to acquire a majority stake in Aberdeen-based Enovate Systems Limited - a leading technology company within subsea well control equipment. The financial details of the acquisition are undisclosed.

30.01.2013 E.ON Executive: Oil-link in Gas Prices an Obsolete Model

Dow Jones reports that the crude oil-indexation of natural gas prices is an obsolete model as the global gas market continues to gain in transparency and liquidity, said the head of German utility E.ON SE's gas business in an interview with monthly magazine BIZZ energy.

30.01.2013 EU Remains Calm Amid Fresh Russian-Ukrainian Gas Dispute

Euractiv reports that though Ukraine and Russia are embroiled in a new gas dispute after Moscow sent Kyiv a huge bill for gas it commissioned under long-term contracts but did not use, the European Commission said it expected both sides to make sure that shipments to the

30.01.2013 BP Rethinks Libya Drilling Plans

According to Petroleum Africa, the attack on the In Amenas gas plant in Algeria has led BP to review its plans for another North African country.

30.01.2013 China’s Refined Oil Demand Continues to Shrink

ChinaScope Financial reports that given the continuous rise of oil prices in the international stage, the moving weighted average price of crude oil in Brent, Dubai, and Cinta changed by 0.94 percent at the end of January 25.

30.01.2013 Nabucco Chooses Italy's Saipem for FEED work

UPI reports that the group planning the Nabucco West natural gas pipeline said it signed a deal with Saipem to perform front end engineering and design work for the project.

30.01.2013 Rosneft Expands Role in Venezuelan Oil

According to a UPI report, Russian oil company Rosneft said it received approval from Moscow for a deal to expand its footprint in the giant Junin-6 oil field in Venezuela.

30.01.2013 TAP Touts Prospects for Greek Economy

UPI reports that hosting the planned Trans-Adriatic Pipeline will give the Greek government the infrastructure needed to stimulate its economy, a pipeline executive said.