Oil And Gas Industry News

The latest upstream oil and gas news from around the world.

Oil Ends Up After China Demand News Fragile Recovery Seen

Brent crude oil ends up almost 1 helped by data showing stronger than expected China demand and some technical price recovery after weeks of almost uninterrupted selling

Halliburton Baker Hughes Buy More Sand Railcars As Demand Piles Up

As fracking accelerates in North American shale fields Halliburton and Baker Hughes are stockpiling sand to protect themselves against rising costs and are buying more railcars to transport the haul

Report Oil Found In Paraguay Gov t Cautious

A British energy company says it made its first major oil discovery in Paraguay s Chaco Basin though the government says it s too soon to tell if the find is commercially viable

Shell Strikes Sales Deals For Nigerian Assets

Shell signs sales agreements for all the Nigerian oil assets it put up for sale following a 2013 review of its business in the West African country a spokesman says

NASA Scientist Arctic Drillers Can Learn from Space Program

Speakers discuss ways to overcome the challenges of drilling in the Arctic in order to extract fossil fuels in an extreme environment

Storms Prompt Mexico s Pemex To Evacuate 15 000 Workers From Gulf

Pemex says it is evacuating 15 000 workers from installations in the Gulf of Mexico because of bad weather adding the evacuation would have only a minimal impact on crude oil output

Kemp Congressional Study Questions Embargo Era Oil Policies

Lifting restrictions on US crude oil exports could actually lower fuel prices for US motorists and other consumers by contributing to a drop in world oil prices

Lamprell Completes 2nd Caspian Sea Rig

Rig builder Lamprell completes the Mercury rig for a client that will use the vessel in the Caspian Sea

Statoil Finds up to 80M Barrels of Oil near Grane Field

Statoil says it has proved new oil resources of up to 80 million barrels of recoverable oil in the Norwegian North Sea near the Grane field

Minister Norway Oil Projects Face Delays over Costs

Several Norwegian oil and gas projects with development plans due in 2015 will be delayed because of high costs and technological challenges says oil minister Tord Lien

Russia s Gazprom Increases 2014 Investments to 1 Trillion Roubles

Russia s Gazprom increases its investment program for this year to 25 billion

CEO Oman Oil in Talks with Oxy to Buy Stake in Local Assets

Oman Oil Company is in talks with Occidental Petroleum Corporation about buying a minority stake in its assets according to the Omani firm s CEO

Lakes Oil Bags 2 Offshore Exploration Permits in Gippsland Basin

Lakes Oil bags two new exploration permits in the offshore Gippsland Basin Victoria Australia

Stena Clyde to Drill Pryderi 1 Well in WA 424 P in Late Oct Early November

The Stena Clyde semisub will mobilize to drill the Pryderi 1 well in permit WA 424 P offshore Western Australia in late October or early November

Cue Energy to Raise Stake in Kutei Basin s Mahakam Hilir PSC to 100

Cue Energy to take full ownership of the Mahakam Hilir production sharing contract in Kutei Basin Kalimantan Indonesia by acquiring the remaining 60 percent stake from SPC Mahakam Hilir

Hunt Energy to Provide Drilling Services in PEL444 in Cooper Eromanga Basin

Holloman Energy reports that an agreement has been inked with Hunt Energy for drilling up to six wells in PEL444 in the Cooper Eromanga Basin in South Australia

McDermott Lands T I Contract for Bukit Tua Project Offshore East Java

McDermott lands a transportation installation and pre commissioning contract from a Petronas unit for the offshore Bukit Tua project in Ketapang block East Java Indonesia

Addax Extends Charter of Yinson s FPSO Knock Adoon for 39M

Addax extends contract with Yinson Holdings to charter FPSO Knock Adoon for work at the Antan field offshore Nigeria

Total CEO de Margerie Killed In Moscow As Jet Hits Snow Plough

The chief executive of Total Christophe de Margerie was killed when a business jet collided with a snow plow during takeoff at Moscow s Vnukovo International Airport the company and airport officials say

LDD Wraps Up Foundation Installation Gig Offshore Gabon

LDD an Acteon company finishes a specialist foundation installation for the Etame Marin block field expansion project offshore Gabon West Africa

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