Schlumberger has closed its merger with Smith International. As previously announced, each Smith stockholder will receive 0.6966 shares of Schlumberger common stock in exchange for each Smith share, with cash paid in lieu of any fractional shares of Schlumberger common stock.
RWE today announced that it has signed Cooperation Agreements with the Kurdistan Regional Government in Iraq with the aim of helping it to develop and design its domestic and export gas transportation infrastructure - creating a route to market for Kurdistan's major gas reserves.
Baker Hughes announced it has signed a three-year strategic alliance with Iraq's South Oil Company (SOC) to provide technical services to SOC's wireline logging department in Burj Esya, Basra south Iraq.
Libya will allow BP to begin drilling in its offshore deepwater region next month, despite the massive Gulf of Mexico oil spill, the head of Libya's National Oil Co. said Sunday. Shokri Ghanem, who serves as Libya's de facto oil minister, said the April explosion of the Deepwater Horizon rig, and the subsequent spill, were 'tragic,' but the oil industry is also moving into 'new frontiers.'
Royal Dutch Shell will continue its deep-water drilling programme to meet rising global oil demand, its chief executive said, despite safety concerns following rival BP's Gulf of Mexico blowout.
Foster Wheeler AG announced today its Global Engineering and Construction Group has been awarded a contract by GDF SUEZ to carry out the pre-front-end engineering design (pre-FEED) for the development of an onshore LNG plantand offshore gas gathering infrastructure.
Libya wants assurances from BP after its handling of the Gulf of Mexico oil spill but will allow it to start deep-water drilling in the Mediterranean, the country's top oil official said
Qatargas has taken a major step towards completing work for its Qatargas 3 and Qatargas 4 ventures with the 'Mechanical Acceptance' and handover of the first of three offshore gas production platforms, known as 'QW8', from contractor, J. Ray McDermott (JRM).
The semi-submersible platform by Aker Solutions for the Gjøa oil and gas field offshore Norway, started on its journey from the yard at Stord to the North Sea, where installation will take place. Production start-up is scheduled for the fourth quarter of 2010.
The Organization of Petroleum Exporting Countries said Wednesday it wouldn't need to boost its supply after cutting demand forecasts for its crude and boosting supply estimates for rival producers, despite the impact of a U.S. oil spill.
BP’s share price tumbled by 15.8 per cent to a 14-year low in New York trading last night amid mounting concerns about the financial impact of the Gulf of Mexico oil spill. Analysts now believe that it is likely that BP will cut or even suspend its dividend after intense political pressure in the US.
AIM-listed Offshore Hydrocarbon Mapping (OHM), has announced that it has been awarded a CSEM contract, worth in excess of $1 million, in the North Sea, by an existing client, Bridge Energy UK (formerly Silverstone Energy).
The second test in Yaalen-3 flowed 2,650 barrels of oil per day (bopd). As the first test flowed 1.400 bopd, the aggregated flow rate from the two tests is 4,050 bopd.
CRA International, a worldwide leader in providing management, economic, and financial consulting services, announced that the Company advised the government of Jordan in the structuring and negotiation of an oil shale concession agreement that will allow Enefit, an affiliate of Eesti Energia AS, to explore and develop oil shale resources in Jordan.
Qatar Petroleum on behalf of the Government of the State of Qatar has signed a new Exploration and Production Sharing Agreement with Shell and PetroChina Company Limited for Qatar Block D.
AuDax Resources, the Australian listed explorer, announced that it was appointed to start drilling a well in the Lambouka prospect, off Tunisia, after conducting 3D seismic survey.
Bowleven, the West Africa focused oil and gas exploration group listed on AIM, announced that it has commenced drilling operations on the Etinde Permit (Etinde), offshore Cameroon.
Green Energy Resources Inc. offered to commit 100,000 tons of woodchips for the gulf oil spill. Woodchips for oil containment is a proven technology listed with the Federal EPA.
DNO reported initial results from the testing of Yaalen-3, in the Republic of Yemen. The first test in Yaalen-3 flowed 1,400 barrels of oil per day, with no water. The test rate was restricted by the equipment used during the test, and the Company expects that this interval has the capacity to flow in the order of 4,000 - 5,000 bopd.
BP provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico, suggesting a run rate of cash far higher than some analysts had predicted.
Saudi Oil Minister, Ali Naimi said that his country is aiming to boost recovery rates at key producing oilfields up to 70% through using a new technology.
TNK-BP Holding and Iraq Oil Company for Oil Investments (IOCOI) have signed an agreement to establish a joint venture aimed at identifying potential projects to acquire, develop and operate oil and gas fields on the territory of Iraq.
Royal Dutch Shell PLC announced last Friday that it would not be able to fulfill some of its oil production contracts after a fire on one of its major pipelines in Nigeria that the company has blamed on thieves.
Drilling of the Saiwan East-3 ("SE-3") well on Block 4 onshore Oman has commenced. Well SE-3 is an appraisal well drilled to appraise and develop the discovery of light oil in the Khufai formation made in 2009.
Foster Wheeler AG announced that its Global Engineering and Construction Group has been awarded a project management consultancy (PMC) contract by the Abu Dhabi Company for Onshore Oil Operations (ADCO) for the Bab Field expansion and the development of the Qusahwira Field in the United Arab Emirates.
Qatargas, one of Qatar's top two exporters of liquefied natural gas would complete scheduled maintenance on two LNG production facilities by the end of May, according to reports.
Fluor Corporation announced that its Fluor Offshore Solutions unit has been awarded a front-end engineering and design (FEED) contract by Abu Dhabi Marine Operating Company (ADMA-OPCO) for offshore facilities located 120 kilometers off the northwest coast of Abu Dhabi City.
CROSCO Integrated Drilling & Well Services Co., Ltd. announced that two additional workover rigs, CROSCO Cardwell 9 and CROSCO Cardwell 10 have been mobilized to Oman. Both workover rigs will be made available to CROSCO's joint venture company in Oman (MIDWESCO) for workover and field maintenance services.
Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S.A., provided the following update on the Company's operations at Block 26, Syria where Gulfsands holds a 50% interest and acts as operator.
Fluor Corporation announced that it was awarded an engineering, procurement and construction management (EPCM) contract by Qatargas Operating Company Limited in Ras Laffan, Qatar.
BG Group announced that it has signed a Sale and Purchase Agreement with Electricity First Limited, a wholly owned subsidiary of Cheung Kong Infrastructure Holdings Limited, for the sale of its 50% interest in Seabank Power Limited for a total consideration of £211.7 million (approximately $320 million).
Mott MacDonald has been appointed by Oman Refineries and Petrochemicals Company LLC to provide specialist engineering services to its Sohar division in Oman.
AMEC, the international engineering and project management company, and its joint venture partners have secured a three-year extension, worth €200 million per year, for the Integrated Services Contract (ISC) for the assets known as Shell ONEgas Southern North Sea (SNS).
The contract award affirms Aker Solutions' position as the world's leading provider of MEG reclamation technology, which removes the possibility of blockages in subsea pipelines, by preventing ice and hydrate formation.
SOCO has secured the services of the onshore drilling rig, Caroil #1, owned by CAROIL SAS, for its exploration drilling programme in the Nganzi Block, onshore the Democratic Republic of Congo (Kinshasa). The contract is for two firm and two contingent wells.
ExxonMobil has completed the world's longest extended-reach well drilled from an existing offshore fixed platform drilling rig, increasing the company's ability to produce more domestic oil supplies from existing facilities at the Santa Ynez unit, offshore southern California.
Al Bou Kamal Petroleum Company, a joint venture between TATNEFT and the General Petroleum Corporation of Syria, established on a parity basis, started crude oil production from the South Kishma oil field in the Syrian Arab Republic.
Dana Petroleum announced that it has made a significant gas discovery at the Platypus prospect in the UK Southern North Sea. The Dana operated 48/1a-5 well was drilled in a water depth of approximately 142 feet to a total measured depth of 11,048 feet, targeting a high quality Rotliegend age, Lower Leman prospect.
AWE Limited reported that the second drill-stem test (DST) on Al Meashar-1, covering the basement section over the interval 3,180 to 3,660 meters, was completed.
Tullow Oil plc announced that the Kasamene-3 and Kasamene-3A wells in the Butiaba region of Uganda Block 2 have successfully delineated the extent of oil in the Kasamene field and discovered oil in the Wahrindi North fault block.
France's Total and Portugal's Partex both plan to bid for oil and gas exploration blocks that Oman plans to auction, according to an executives from the companies.
Algerian state energy group Sonatrach unveiled two more oil and gas finds, bringing to five the number of hydrocarbon discoveries made by the company this year.
Halliburton and Boots & Coots jointly announced today that Halliburton has entered into a definitive merger agreement to acquire all of the outstanding stock of Boots & Coots in a stock and cash transaction
Dockwise Ltd. announced seven near-term contract wins for the transportation of four jack-up rigs, jack-up construction vessels, supply boats and a floating crane barge, to be transported to Egypt, Rio de Janeiro, Brazil, Sharjah, UAE, Singapore, Rotterdam, The Netherlands, Chabahar, Iran; and Trinidad, respectively.
BG Group (25%) and partners, Petrobras (65% and operator) and GALP (10%), have successfully completed drilling a Tupi field appraisal well (3-RJS-666) in the BM-S-11 license area, Santos Basin pre-salt, offshore Brazil.
Total announced today that it has signed an agreement with Total Exploration and Production UK Ltd for the manufacture and supply of subsea production equipment to support the Laggan-Tormore field.
Schlumberger announced today the acquisition of IGEOSS, a developer of cutting-edge structural geology software. The IGEOSS applications and expertise will be integrated with existing Schlumberger software to advance customers' modeling capabilities, particularly in areas with complex geology.
Total announced that its subsidiary, TEPA (Block 15/06), Limited, and its partners have made two important oil discoveries in Angola at the Nzanza-1 and Cinguvu-1 wells, in the deep waters of the Angolan offshore.
Lundin Petroleum AB announced the completion today of the spin-off of Lundin Petroleum's UK business into EnQuest plc (EnQuest). Lundin Petroleum received approximately fifty-five per cent (55%) of the total outstanding shares of EnQuest and will distribute all of its EnQuest shares to Lundin Petroleum shareholders.
Aberdeen-based Dominion Gas is to become the main supplier of industrial gas for the Nord Stream Project in a deal worth upwards of £1.7million. The Nord Stream gas pipeline links Russia and the European Union via the Baltic Sea and is expected to transport up to 55 billion cubic metres of gas each year - enough to supply more than 26million households.
KBR announced that it has acquired Houston-based Energo Engineering. Energo provides Integrity Management (IM) and advanced structural engineering services to the offshore oil and gas industry. Energo will be integrated into KBR's Granherne subsidiary, which will enable that business to expand its capabilities worldwide as well as support FEED and detailed design projects.
Tethys Petroleum Limited announced that it had commenced drilling the AKD02 appraisal well in Kazakhstan. The AKD02 appraisal well is the first appraisal well of the AKD01 (Doris) oil discovery that flowed at a rate of 6,800 barrels of oil per day ("bopd") and will provide valuable further information on the size of the new oil field.
Total announced that the second train of the Yemen LNG natural gas liquefaction plant has started production. Combined with liquefied natural gas (LNG) production from the first train, commissioned on October 15, 2009, it will enable the Yemen LNG plant to reach its full capacity.
BJ Services Company announced that it has commercialized its TeleCoil downhole communication system, successfully gathering accurate depth, temperature and pressure information for several operators in the North Sea.
SSE (Scottish and Southern Energy plc), through its wholly-owned subsidiary SSE E&P UK Limited, has entered into an agreement with Hess Limited to acquire its natural gas assets and infrastructure in three regions of the North Sea (Everest/Lomond Area; Easington Catchment Area; and Bacton Area).
Petrofac, the international oil & gas facilities service provider, confirms that it has acquired Stephen Gillespie Consultants Limited (SGC), a UK-based provider of metering services and systems for an initial cash consideration of £2.1 million. A further consideration of up to £1.4 million will be payable in cash over two years, subject to achieving certain agreed performance targets.
BP, on behalf of its partners in the Rumaila Technical Services Contract, announced the first major contracts to support the rehabilitation of the Rumaila field in Southern Iraq.
Statoil has signed an agreement with an affiliate of ExxonMobil to transfer 35% of its interest in Statoil operated Block 2 in Tanzania. Statoil now holds 65% interest in the 11,099 square kilometers block.
Maersk Oil has reached an agreement to farm in with a 20% non-operated interest in licence BM-C-34 offshore Brazil from Devon subject to regulatory approvals. The planned activities include drilling of up to four exploration wells.
Scottish company Adrok Group Ltd, which is set to save the oil and gas industry billions of pounds through its groundbreaking imaging technology, has signed a deal with International Business Development Company LLC (IBD Group) - expanding its services into the Middle East.
Shell produced its first oil and natural gas from the Perdido Development, the world’s deepest offshore drilling and production facility. Located in an isolated, ultra-deep sector of the Gulf of Mexico, Perdido marks a new era in innovation and safely unlocks domestic sources of energy for US consumers.
Tap Oil announced that it has entered into a Petroleum Agreement to secure a 36% interest and Operatorship of the Offshore Accra Contract Area, off the coast of Ghana, Africa.
Dana Petroleum, the oil and gas exploration and production company focused on growth through international exploration and the development of production in the North Sea and Egypt, is pleased to report its preliminary results for 2009.
RWE Dea AG has completed its seismic campaign in the Concession Area 58 on the Cyrenaica Plateau in Libya. The seismic survey had started in July last year.
J. Ray McDermott, S.A. (J. Ray), a subsidiary of McDermott International, Inc., has been awarded a project to upgrade crude gathering and power supply facilities in Saudi Aramco's Safaniya field.
Melrose Resources plc, the oil and gas exploration, development and production company with interests in Egypt, Bulgaria, Romania the United States of America, France and Turkey, announced its annual results for the year ended 31 December 2009.
Statoil, the Norwegian explorer said that it finalized the heavy work of the offshore lifting of two wellhead platforms on the Peregrino oilfield off Brazil.
Adco, Abu Dhabi National Oil Company, Adco announced that it signed a $560.4 million oilfield development contract with the UAE's National Petroleum Construction Company (NPCC).
China National Petroleum Corporation (CNPC) and Royal Dutch Shell plc (Shell) announced plans to jointly develop and produce natural gas in China’s Sichuan basin.
RAK Petroleum said that it found gas in the Hamrat Duru-4 appraisal well in Block 30 onshore Oman. Hamrat Duru-4 is the first appraisal well drilled to test the Shuaiba reservoir on the Hamrat Duru structure as the primary target.
Gulfsands Petroleum plc, announced that the Company has reached an agreement to acquire working interest positions in two exploration permits in Tunisia (Chorbane and Kerkouane Permits) and one exploration permit in Southern Italy (G.R15.PU) from AuDAX Resources Ltd.
Many reports indicate that four Chinese companies will be placing their bids for a 40% stake in a field off Brazil, being offered by the Norwegian giant Statoil.
EnCore Oil announced that it sealed an agreement with Egdon Resources for the sale of its UK and French onshore property and a share in the UK offshore Ceres gas field.
PetroChina, China's top energy company, stated that it's planning to boost its presence in the Middle East in a move intended to increase foreign production to meet a shortfall from domestic fields.
Shell Energy Holdings Australia Ltd. (Shell), a subsidiary of Royal Dutch Shell plc, and PetroChina International Investment Company Ltd (PetroChina), a subsidiary of PetroChina Company Limited, welcome the announcement by the Board of Arrow Energy Limited (Arrow) to unanimously recommend its shareholders vote in favour of the joint proposal to acquire 100% of Arrow shares.
The Royal Dutch Shell announced a significant new oil discovery in the deepwater eastern Gulf of Mexico, located at the Appomattox prospect in 2,200 meters of water in Mississippi Canyon blocks 391 and 392.
Key Energy Services Inc. has formed a joint venture with AlMansoori Specialized Engineering of Abu Dhabi, United Arab Emirates. The new joint venture, AlMansoori-Key Energy Services L.L.C., will be headquartered in Abu Dhabi and will provide well intervention services in the Middle East and North Africa.
Mouth-Watering five star rumors of a multi-billion pound energy deal swept dealing rooms! Shares in British gas producer BG Group have risen following market talk about ExxonMobil's interest in the company, traders said.
The city of Vienna saw the 156th meeting of representatives of OPEC (Organization of the Petroleum Exporting Countries). They decided not to make any changes in production quotas or oil prices, and praised the current world crude oil price of about $80 as high enough to encourage new exploration and production and low enough to avoid killing the global economy's fragile recovery.
The $1.3 billion Kupe Gas Project in Taranaki was officially opened today by Prime Minister John Key. The availability of cheap Maui gas and low oil prices constrained the development of Kupe for a long period.
Wintershall, the largest crude oil and natural gas producer in Germany, announced that it's planning to invest more than $4.10 billion over the next three years in oil and gas exploration.
European Union proposals to force countries to build new emergency gas infrastructure were approved by a parliament panel, but a requirement to prepare for 60 days of supply cuts was reduced to 45 days.
Total announced that it inked an agreement to acquire a 50% interest in Kazakhstan's concession held by Oil Techno Group (OTG), the Kazakh subsidiary of Poland's Petrolinvest. The roughly 5,500 sq km onshore license presently being explored is located in northwestern Kazakhstan.
The 3D seismic survey over the East Saiwan structure on Block 4 has been completed. The information is now being processed and new maps will be available shortly.
Africa Oil Corp. reports that the TSX Venture Exchange has accepted for filing documentation pertaining to the August 19, 2009 farmout agreement between Lion Energy Corp. ("Lion Energy") and Africa Oil.
Longford Energy announced that it has been recently appointed as the Operator of the Chia Surkh Block and plans to commence seismic acquisition during the second quarter of 2010.
BP announced that it's close to finish the founding of a $100 million facility that will be the site of the company’s first commercially produced heavy oil from Alaska's North Slope.
Gulf Keystone Petroleum said that it raised 16 million pounds ($24 million) to start the initial stages of its 2010 drilling program in Iraq, with expectations for the number to rise during the year.
Statistics showed that Oman oil production increased to an average of 849,400 barrels per day. It was also reported that Oman sold its oil at an average price of $77.64 per barrel in January, up from $73.40 per barrel a month earlier.
WesternGeco announced that the UniQ integrated point-receiver land seismic system has set a new industry record in Kuwait for Kuwait Oil Company (KOC) in acquiring data from 80,000 live digital point-receiver channels at a two-millisecond sample interval.
Aberdeen-based performance improvement business Exceed has worked closely with the team on a Transocean-owned rig to achieve significant operational benefits.
London-based oil major BP has agreed to buy Brazilian, Azeri and Gulf of Mexico assets from Devon Energy for $7 billion, as the U.S. producer refocuses on onshore U.S. fields.
ONGC Videsh Ltd. and its partner IPR Mediterranean Exploration Ltd. have made significant new oilfield discoveries in Block-XXIV located in northeastern part of Syria. The discoveries of Rashid and Abu Khashab fields have been back to back in 2009.
Maersk Group, the Danish firm, reported a net loss of $1 billion compared to a net profit of $3.5 billion in 2008, on the back of lower freight rates and lower prices for oil and gas as a result of the global economic crisis.
Takreer, Abu Dhabi's oil refining company inked four agreements worth $9.6 billion (Dh35.25 billion) with four Korean companies to expand its oil refining capacity in Ruwais by the end of 2013, according to WAM the Emirati News Agency.
"We are planning to hold tenders on eight exploration blocks soon. We are currently preparing the needed documents on these blocks," Mahmoud Mohaddes, exploration chief at National Iranian Oil Company, was quoted as saying by the semi-official Mehr News Agency.
The giant state-owned company Saudi Aramco is planning to explore in deeper offshore areas of the Red Sea on a search for new energy treasures in the next two years.
DNO has updated its drilling operations in Blocks 43, 47 & 53 in Yemen and in the Erbil license in Kurdistan, where the Erbil-2 well has tested 200-300 bopd of heavy oil.
Iraq's Oil Ministry has agreed with ExxonMobil and Royal Dutch Shell to set the baseline production level at Iraq's West Qurna Phase One oilfield at 244,000 barrels per day (bpd).
The exploration well OMOC-N-1, drilled in the Onal AEE, has identified a 111-metre column of oil in the Grès du Kissenda. Pump tests have established a flow of 1,700 bpd of oil (flow limited by the pump’s maximum capacity) with an API of 33.4.
Saudi Arabia announced that it would double its supply of crude oil to India to reach 40 million tones a year in a move to help India meet its growing demands.
Algeria's Sonatrach announced a new natural gas discovery at El Kheit Tessekha extension-1 well in the Menzel Ledjmat contract area of the Berkine basin, flowing with a rate of 44.18 million cubic feet per day.
Saudi Aramco has awarded Baker Hughes a two-year contract for two fit-for-purpose underbalanced coiled tubing drilling packages designed to re-enter existing wells in the gas fields of southern Saudi Arabia.
A senior official at Azeri state energy company Socar announced that Devon Energy is thinking of selling its stake in the Azeri-Chirag-Gunsheli oilfields.
Ras Laffan Liquefied Natural Gas Company Limited (3) (RL 3), part of RasGas companies, announced the successful completion and start-up of its seventh liquefied natural gas (LNG) train.
French oil major Total SA is investing $20 billion with partners in four energy projects in Nigeria over the next four to five years, a company spokesman announced.
Tethys Petroleum Limited today gave further details on the testing of the recent AKD01 (Doris) exploration oil discovery on the Akkulka Block in Kazakhstan and briefed on the Company's future plans to appraise the discovery.
Exxon Mobil Corporation and Qatar Petroleum confirmed that the Al Khaleej Gas-Phase 2 (AKG-2) project, with 1,250 million cubic feet per day (mcfd) of sales gas capacity, initiated operations in December 2009.
Kuwait Gulf Oil Company's managing director, Bader Al Khashti, said that production from Al Khafji oilfield is expected to rise to 300,000 barrels per day (bpd) by the end of the first quarter.
A recent survey of 70 active companies by industry body Oil & Gas UK shows that a large number of companies cannot afford to increase oil and gas exploration in the North Sea, in spite of an increase in known reserves.
Schlumberger Ltd and Smith International, Inc. jointly announced today that their Boards of Directors have unanimously approved a definitive merger agreement in which the companies would combine in a stock-for-stock transaction.
A possible merger between Schlumberger Ltd. and Smith International Inc. highlights a continuing theme in the oil-field services industry: Size matters.
The Iraqi ministry spokesman, Assem Jihad said that Iraq launched its fourth sate-owned oil company, to oversee development of fields in the country's central.
Statoil announced a limited indications of oil exploration during drilling in the Omega Nord well which located six kilometers north-east of the Snorre field in the North Sea. However, the discovery might not be commercially viable due to the qualities of the sand and shale rocks.
The EnergyPoint market research ranked M-I SWACO, a global provider of oilfield fluids and fluids-related systems and services, number one in customer satisfaction in the survey overall.
Aker Solutions has signed a contract with Repsol Investigaciones Petroliferas S.A. for delivery of subsea equipment to the Spanish oil company's Mediterranean wells. Contract value is approximately NOK 120 million.
Royal Dutch Shell posted a 75 percent fall in fourth quarter profits to $1.18 billion, as it was punished for its strong positions in the ailing natural gas and refining businesses.
BP Chief Executive, Tony Hayward said in an interview on BBC radio that world demand will rise to reach its peak after the year 2020, with a maximum of 110 million barrels per day (bpd).
OPEC Secretary General, Abdullah AL Badry announced that it will be four to five years before there is a need to include Iraqi oil output within OPEC’s oil production policy.
A production test using a down hole Electrical Submersible Pump (ESP) has been completed in the Barik formation in the Farha South-3 well on Block 3 onshore Oman.
Hosnia Hashim, an executive in charge of North Kuwait for state owned Kuwait Oil Company (KOC), told Al Seyassah newspaper that the northern fields currently produce around 650,000 barrel of oil and 500 million cubic feet of gas per day.
2009 will be remembered for its significant offshore oil and gas discoveries worldwide. Of the 10 top discoveries for the year, two were made in the GOM, two were found off Australia, and one each off Brazil, China, Israel, the UK, Venezuela, and West Africa.
A senior Iranian oil official was quoted describing the commitment of OPEC (The Organization of the Petroleum Exporting Countries) to the crude output targets as "successful". Last year, the members reached a compliance of 66 percent.
A senior Libyan oil official said that his country is pleased with the current oil price, around $80 a barrel, adding that the Organization of Petroleum Exporting Countries (OPEC) is not expected to increase the production unless the price of barrel reaches $100.
Russian oil continues to flow to Belarus and via Belarus to the European Union despite a failure by Moscow and Minsk to seal a new oil supply deal at talks on Saturday.
Iraq's Oil Ministry will settle deals later this month with foreign energy firms for its Majnoon, Gharaf, Qayara and Najmah oilfields, said a top official.
U.S. Oil Major Chevron said it was forced to shut down 20 thousand barrels per day (bpd) of crude oil production in Nigeria after confirming a breach to one of its pipelines.
Oil prices rose 1 percent on Monday, hitting a fresh 15 month high above $83 a barrel, and a supported data showing China's crude oil imports increased by nearly 25 percent in December as the U.S. dollar weakened.
Statoil is the first company in Norway to offer 5 per cent bioethanol to general consumers. From January 2010 onwards 40 per cent of Statoil's stations will be selling the new biofuel "Bensin 95".
Abu Dhabi National Oil Co, which exports most of its oil to Asia, lowered official December selling prices after they reached the highest level in 14 months in November.
Global companies negotiating multi-billion dollar oilfield deals with Iraq have not yet responded to government requests for adjustments to the contracts, a government spokesman said, contradicting an earlier Oil Ministry statement.
Sociedade Nacional de Combustiveis de Angola, better known as Sonangol, signed Wednesday in Baghdad two initial deals to develop Qaiyarah and Najmah oil fields in northern Iraq, officials said.
The Anglo-Dutch supermajor Shell's plans to sell US$5 billion worth of oil assets in Nigeria has been met by bemusement by the West African state's government.
The quantity of oil used at Oman Oil Refineries and Petrochemicals Company declined by 7.2 percent during the first ten months of 2009, in comparision to the same period in 2008, a statistics bulletin issued by the National Economy Ministry said.
Oil prices are likely to hover between $70 and $80 a barrel next year if the world economy strengthens, Algerian Energy and Mines Minister Chakib Khelil said.
World oil prices, which have soared 40 percent this year on signs of global economic recovery, rose Thursday as solid US demand underpinned the market on the last trading day of 2009, traders said.
Russia launched a new Pacific oil terminal that will allow the world's largest energy producer to conquer Asian markets and divert some Siberian crude flows away from Europe.
The bidders of a joint venture between Saudi Arabia and Kuwait said that the bidding closing date the for two projects at Al Khafji oilfield has extended to the 28th of December.
Algeria's Ministry of Energy awarded three exploration licenses out of 10 permits on offer at a public session, said the Head of the licensing committee Djilali Takkherst.
World oil prices fell on Monday, reversing earlier gains and in line with other commodity markets, as traders took their cue from a stronger dollar, dealers said.
Hess Corporation's fully-owned subsidiary Hess Libya Exploration Limited (HLEL) has carried out a successful test of its discovery well A1-54/01 offshore Libya in the Mediterranean Sea.
The Italian oilfield services giant Saipem has announced that it has been awarded a number of new onshore contracts with a total of around US$753 million.
National Iranian Oil Co., or NIOC, has offered India a 40% interest in phase 12 of the South Pars gas field and 6 million metric tons of liquefied natural gas a year, its managing director said.
Fugro Survey (Middle East) Limited has been awarded a 3.5 year extension to their existing contracts with engineering and construction company, J. Ray McDermott (J. Ray), for the provision of survey, positioning and Remotely Operated Vehicle (ROV) services in the United Arab Emirates, Qatar, India and Saudi Arabia. J. Ray currently operate four major work barges in the region as well as a large number of other support vessels.
Petrofac, the international oil & gas facilities service provider, has established a Joint Venture agreement with Zamil Group Holding Company to create and operate a new service centre facility in the Kingdom of Saudi Arabia.
Oman expects oil prices to range between $70 and $80 a barrel in 2010, some 40% to 60% more than the $50 estimate the country is using for to calculate its budget, Oman's national economy minister said.
Petrotechnics, the global leader in transforming the efficiency and effectiveness of frontline operations in the oil and gas industry, has announced the first deployment of its electronic integrated safe system of work (ISSOW) solution in the Middle East.
Tethys and partner CCED (Oman) Ltd (operator) have contracted MB Petroleum LLC to provide the MB 49 work over rig to conduct testing operations on Blocks 3 and 4 onshore Oman. The 450 hp rig is currently being mobilized on Block 3 and testing operations will begin in the next couple of days. The Barik sandstone, which displayed excellent oil shows whilst drilling, was not fully evaluated at the time and will now be tested
Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has announced its financial results for the quarter ending 30th September 2009.
Qatar has agreed to boost supplies of liquefied natural gas to China by at least 5 million tonnes a year from early next decade, the world's largest LNG exporter said.
Global oil demand will grow in the fourth quarter of 2009, its first year-on-year increase in fuel use since the second quarter of 2008, the International Energy Agency said.
Halliburton has been awarded the integrated turnkey drilling contract in South Ghawar. Located approximately 200 kilometers (124 miles) from the city of Dhahran, the Ghawar field is the world's largest oil field and the contract would involve work in Uthmaniyah, Haradh, Hawiyah and Shedgum.
ExxonMobil and Royal Dutch Shell signed a deal with the Iraqi Oil Ministry on Thursday to develop a major field, marking the first foray by a U.S.-led consortium into Iraq's promising but uncertain oil industry.
Saudi Aramco plans to raise its daily gas supplies by 30 percent within five years to 8 billion cubic feet, Al-Hayat newspaper quoted its Chief Executive Khalid al-Falih as saying on Sunday.
Yemen dispatched its first liquefied natural gas (LNG) shipment on Saturday from a $4.5 billion Total-led plant, as the leader of the violence-torn country sought to soothe security concerns.
Russian October oil output inched up to 10.04 million barrels per day from already record-high 10.01 million bpd in September, while the country's October daily gas output rose by 15.8 per cent to 1.76 billion cubic metres from 1.52 bcm in the previous month.
Petróleo Brasileiro S/A - Petrobras, announces that, after a visit made to Saudi Arabia late October, it is analyzing some investment opportunities in that country.
German utility company RWE said it is not in talks with Iran regarding the country's participation in the €7.9 billion ($11.71 billion) Nabucco gas pipeline project.
BP, and China National Petroleum Corporation (CNPC), have signed a technical service contract with Iraq's state-owned South Oil Company (SOC) to expand production from the Rumaila oil field, near Basra in southern Iraq.
Apache Corporation reported that for the first time average worldwide production surpassed 600,000 barrels of oil equivalent (boe) per day during the third quarter, increasing 3.4 percent from the second quarter and 19 percent from the prior-year period.
Zakum Development Co., or Zadco, which is majority-owned by Abu Dhabi National Oil Co., will tender contracts next year to help it develop at a cost of as much as $15 billion the massive Upper Zakum oil field, a senior company official said.
Plexus Holdings PLC, the AIM listed oil and gas engineering services business which supplies wellhead and mudline suspension equipment for exploration and production applications, has been awarded a second contract with Dubai Petroleum Establishment ('Dubai Petroleum'), a leading oil and gas company in the Middle East, to supply the Company’s 10,000 psi POS-GRIP wellhead technology with mudline suspension systems for exploration activities offshore United Arab Emirates in the Arabian Gulf. The contract is anticipated to commence in H1 of our financial year to 30 June 2010.
Iraq is planning to drill around 150 oil wells next year which will increase the country's crude oil production by 250,000 barrels a day, head of the state-run Iraqi drilling company said.
Total announces that the Yemen LNG liquefaction plant started producing Liquefied Natural Gas (LNG) on October 15, 2009. Total is lead shareholder of Yemen LNG and holds a 39.62% interest, alongside the state-owned company Yemen Gas Company (16.73%), Hunt Oil Company (17.22%), SK Energy (9.55%), Korea Gas Corporation (6%), Hyundai Corporation (5.88%), and GASSP1 (5%).
Eni has been awarded the license for the development of the Zubair giant field in Iraq, following a successful first round bid. The license has been awarded to an Eni-led consortium (with Eni as Operator), consisting of the US Occidental Petroleum Corporation and Korea Gaz Corporation.
Total has resumed contacts to enter the Pars liquefied-natural-gas export scheme in Iran, a state company said, despite rising tensions between the West and the Islamic Republic.
Apache Corporation announced government approvals of new contracts to supply 50 million cubic feet (MMcf) of natural gas per day from two fields in Argentina's Neuquen and Rio Negro provinces at a price of $5 per million British thermal units (MMBtu).
ExxonMobil Chemical and Saudi Basic Industries Corp (Sabic) joint-venture synthetic rubber plants were expected to cost about $5 billion (Dh18.39 billion), a senior company executive said.
Halliburton announces the recent deployment of its new Hostile Sequential Formation Tester II (HSFT-II™) tool. This latest formation evaluation tool allows operators to evaluate formations at increased pressures and temperatures, up to 30,000 pounds per square inch (psi) and 450°F, respectively, and in boreholes as small as four inches. No other commercially available formation testing tool is rated for such operating conditions.
The Jordanian Cabinet is set to discuss a draft gas exploration agreement with BP to develop the Risha gas field before giving it final approval, according to reports.
