Brazilian state-run Petroleo Brasileiro, or Petrobras, completed its four-tranche $7 billion bond deal in the U.S. credit markets Wednesday, according to a person familiar with the deal.
U.S. crude oil prices slipped towards $97 a barrel on Thursday as a larger-than-expected rise in crude oil stocks outweighed support from upbeat manufacturing data in China, the United States and Germany.
U.S. District Judge Carl Barbier on Tuesday upheld Halliburton's claim that its contract with BP requires BP to defend and indemnify Halliburton against any and all claims related to a blowout or uncontrolled well condition and relating to pollution and/or contamination from the reservoir.
Japan's second largest refiner TonenGeneral Sekiyu KK (5012.T) said on Sunday it will buy 99 percent of the shares in ExxonMobil's (XOM.N) Japanese unit, ExxonMobil Yugen Kaisha, for 302 billion yen ($3.94 billion) to improve efficiency.
Iran's parliament drafted legislation calling for the government to halt oil exports to Europe until the European Union cancels its planned ban on the country's crude, Fars news agency reported, citing a lawmaker.
A Brazilian prosecutor plans to file criminal charges against Chevron Corp and some of its local managers within weeks, adding the threat of prison sentences to an $11 billion civil lawsuit as punishment for a November offshore oil spill.
Oil giant BP has lost its attempt to shift over $15 billion (9 billion pounds) of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill.
India and Pakistan on Wednesday announced several initiatives to accelerate cooperation in the oil and gas sector, as the two energy-starved nuclear-armed neighbours try to mend economic ties despite political differences.
Brent crude rose above $110 on Thursday, extending gains on hopes of demand growth revival after the U.S. Federal Reserve said it would keep interest rates low for much longer than previously planned, to help speed economic recovery.
ConocoPhillips (COP) reported fourth- quarter profit that surpassed analysts' estimates as the producer said it plans to idle some natural-gas wells because of low prices and focus on boosting output of petroleum liquids such as crude.
Australia has joined the EU in banning imports of Iranian oil and imposing a range of heavy sanctions amid threats of retaliatory military action by Tehran.
Apache Corp. agreed to buy closely held Cordillera Energy Partners III LLC for $2.85 billion in cash and stock, adding oil reserves in Oklahoma and Texas that can be exploited using hydraulic fracturing.
Halliburton Co., the world's largest provider of hydraulic fracturing services, said fourth-quarter profit rose as customers boosted spending on the technique for capturing oil in the U.S.
The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran's nuclear development programme.
Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector and weak U.S. petroleum demand.
The Obama administration on Wednesday rejected the Keystone crude oil pipeline project, a decision welcomed by environmental groups but blasted by the domestic energy industry.
Saudi Arabia, the world's top oil exporter, said on Monday it can pump more oil at a moment's notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.
South Korea, a key U.S. ally, warned the United States on Tuesday it would be difficult to replace Iranian crude supplies and expressed concern that sanctions pressure could lead to higher oil prices.
The Organization of Petroleum Exporting Countries kept its forecast for 2012 oil demand unchanged, while warning that Europe's debt crisis could harm global consumption.
Brent crude rose above $111 on Monday on worries over supply disruptions after Iran warned Gulf Arab neighbours of consequences if they raised oil output to replace Iranian barrels facing international sanctions.
Soco International has told investors it is examining acquisition opportunities in south east Asia, West Africa and Egypt worth in excess of $100 million, suggesting it is targeting more ambitious projects than in the past.
Inpex and Total have given the green light to build one of Australia's most expensive energy projects at an estimated cost of US $34 billion over the next five years.
Oil rose in New York for the first time in four days on growing concern that the dispute between Iran and western governments may lead to a disruption in Middle East crude exports.
Technip was awarded the last option for the Statoil frame contract for diving, pipeline repair, contingency and modification services. The frame contract has been held by Technip since January 2007 and is now extended to the latest possible completion date of December 2014.
Dana Petroleum plc in a 50/50 partnership with Sorgenia E&P (UK) Ltd has secured blocks 42/27, 47/2b (split) and 47/3g (split) in the UK Southern North Sea, in the final stage of the 26th round of UK offshore licensing.
Oil fell from its highest settlement in almost eight months on signs that Europe's debt crisis may drag the region into a recession, curbing fuel consumption.
BP Plc seeks to have Halliburton Co., its cement contractor for the Macondo well project whose blowout set off the 2010 Gulf of Mexico oil spill, pay all of the oil company's related costs and damages.
Total announces that its subsidiary, Total E&P USA, has signed and completed on December 30, 2011 an agreement to enter into a Joint Venture with Chesapeake Exploration, a subsidiary of Chesapeake Energy Corp, and affiliates of its partner EnerVest. In the agreement, Total acquires a 25% share in Chesapeake's and EnerVest's liquids-rich area of the Utica shale play located across 10 counties on the eastern side of the state of Ohio, USA.
BP PLC is to exit the Sakhalin-5 gas project, and Russian state oil company OAO Rosneft will continue working on it on its own, Interfax news agency reported Monday, citing Rosneft Chief Executive Eduard Khudainatov.
Petrobras announces the discovery of a new light oil and natural gas accumulation in the Golfinho Concession (4-BRSA-1001-ESS). The discovery was made during drilling of well 4-GLF-31-ESS, known as Tambuata. The well is located 74 km off the Espírito Santo coast, and 7 km from FPSO Cidade de Vitoria, in the eastern side of Golfinho Field, at a water depth of 1,520 meters.
Indonesia wants to as much as double the price for gas it sells from its Tangguh liquefied natural gas plant to China National Offshore Oil Corp's (CNOOC) Fujian LNG terminal, oil and gas regulator BPMigas said on late Monday.
An international arbitration body has awarded Exxon Mobil Corp. nearly $908 million in a dispute with Venezuela over compensation for the nationalization of its assets, the company said Sunday.
Oil output in Russia edged up 1.2 percent to reach a new post-Soviet high of 10.27 million barrels per day (bpd) last year, as the world's top crude producer eased tax burden and launched pipeline flows to China, the Energy Ministry said on Monday.
Frontline, the largest independent global oil tanker operator, completed its restructuring with the help of Norwegian tycoon John Fredriksen, a key step in its revival as the industry struggles with weak demand and overcapacity.
State-owned China National Petroleum Corp (CNPC) was given approval by the Afghan government to sign the joint-venture deal with diversifiedAfghan company, the Watan Group.
Cyprus has approximately $129 billion (EUR 100 billion) worth of natural gas that will satisfy its electricity production needs for 210 years, said Commerce Minister Praxoulla Antoniadou.
El Paso Corp. has begun sending out financial information to potential buyers of its oil-and-gas exploration and production business, which could fetch as much as $10 billion, according to people familiar with the matter.
Apache Corporation reported production of 752,000 barrels of oil equivalent (boe) per day and earnings of $983 million, or $2.50 per diluted share, for the three-month period ending Sept. 30, 2011. These compare with production of 667,000 boe per day and net income of $765 million, or $2.12 per diluted share, for the same period in the prior year.
BP Plc has accepted a $4 billion payment from partner Anadarko Petroleum towards the Gulf of Mexico oil spill clean-up, far less than it might have won in court, but a deal that could reduce the overall cost of the disaster for the British group.
Russian Prime Minister Vladimir Putin has told his Japanese counterpart Yoshihiko Noda that Moscow hopes to advance energy cooperation with Tokyo in areas including LNG and possible electricity supplies to the gas- and power- hungry nation, according to Japan's Ministry of Foreign Affairs.
French subsea specialist oilfield services firm Technip is to purchase subsea construction and pipe laying specialists Global Industries for $1.07 billion.
Oil prices have slumped over $3 per barrel - a 4% drop on the New York Mercantile Exchange - so far today on the back of worldwide growth fears and a stock market slump in the US which has spread to the UK and Asian markets.
BG, one of the UK's three largest gas producers, profits more than doubled in the second quarter due to high natural gas prices and increased production.
China issued its first shale gas exploration tender with an offer of four blocks to a group of Chinese energy companies, state media reported, as the country kicks off its search for the potentially vast unconventional resource, reports Reuters.
A move last week by the US and other member countries of the Paris-based International Energy Agency (IEA) to release 60 million barrels of crude oil from their strategic petroleum reserves is going to bring international crude oil prices down in the near-term and provide some relief to the beleaguered oil importing nations, say experts.
Statoil today announce that its Leismer Demonstration Project (LDP) in northern Alberta, Canada, has achieved a production milestone of one million accumulated barrels of oil.
Petroliam Nasional Bhd., Malaysia's state oil and gas company, will build a $20 billion refining complex bordering Singapore to benefit from increased global demand for petrochemicals and plastics.
BP Plc is seeking to buy out its billionaire partners in Russia's third-largest oil producer, as a planned share swap with state-controlled OAO Rosneft expires today, said people with knowledge of the plans.
On the first anniversary of the Gulf of Mexico oil spill, BP Plc on Wednesday sued Cameron International Corp for negligence, because a blowout preventer made by Cameron failed to avert the catastrophe.
The Organization of Petroleum Exporting Countries may meet to assess the impact of the nuclear crisis in Japan and the ongoing unrest in the Middle East and North Africa on oil supply, said Nigeria's foreign minister.
RWE Dea's subsidiary in the United Kingdom, RWE Dea UK, announced today that the field development plan for the Clipper South gas field has been approved by the Secretary of State at the Department of Energy and Climate Change (DECC).
Statoil is sending out an invitation to tender for a new type of drilling rig. It is specially-designed by the industry on behalf of Statoil for use on mature fields on the Norwegian continental shelf (NCS).
Po Valley Energy Limited has achieved a 38% increase in the area of its gas exploration rights in northern Italy - including licences located in one of the country's former largest onshore gas fields in the Po Valley.
BP announced the intention of selling its interests in a number of operated oil and gas fields in the UK. The assets involved are the Wytch Farm onshore oilfield in Dorset and all of BP's operated gas fields in the Southern North Sea, including associated pipeline infrastructure and the Dimlington terminal.
Eni is offering its entire Ireland exploration portfolio (preferably as a package) for Qualified Operators and Joint Ventures, willing to take over Operatorship and Partnership.
UK independent Tullow Oil will start drilling the first oil and gas exploration well off French Guiana in March, according to the company's exploration director Angus McCoss.
Brent crude climbed to $108 per barrel and US oil contracts leapt by $6 a barrel on Monday as Colonel Gaddafi's bid to cling to power in Libya appeared to become more desperate.
China, the world's biggest energy user, increased net imports of crude oil by 1.4 percent in December from a month earlier as refineries maintained high operating rates to ease a diesel shortage.
The drilling and well operations were stopped at Gullfaks for an additional review of Statoil's routines for planning and conducting drilling operations.
The Gjoa oil, natural gas and condensate field in Norway went into production. It is currently the biggest field development project in the Norwegian North Sea. The licence was awarded in July 1988, and the discovery was made the following year.
Baker Hughes announced the launch of its Reservoir Navigation Services (RNS), which is intended to optimize wellbore placement through the combination of reservoir modeling, the industry's most comprehensive real-time drilling evaluation toolkit and 3D/4D visualization software with interpretation experts.
New milestone in the development of the Mittelplate oil field off the western coast of Schleswig-Holstein: On 23 October 2010 the 25-millionth ton of crude was produced from the reservoir.
Total Waste Management Alliance (TWMA), a world leader in environmental waste management services to the oil and gas industry, has been awarded drilling waste management contracts by BP worth around £4million.
Statoil, along with operator Chevron and other partners, have sanctioned the Jack/St Malo field development, located in the ultra-deepwater Walker Ridge area of the US Gulf of Mexico (GoM).
Aker Solutions has signed three subsea contracts with Shell Offshore Inc for deliveries to the operator's Popeye and Europa fields in the Gulf of Mexico. Contract values are undisclosed.
Opec's Secretary General said he was worried about the world economy, saying the rest of this year and first half of next year would be very difficult.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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).
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.
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).
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.
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.
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
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
