Oil And Gas Industry News

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

Oil Prices Fall on Sluggish Demand Ample Supply

Crude oil futures fall as ample supply and slowing economic growth in Europe and China outweigh expectations of a cut in oil output from OPEC

Tomoka Kerogen Makes Fourth Year Oil Exploration Lease Payment

Tomoka announces that Kerogen has made the fourth year payment for its eight year oil exploration lease in Hendry County Florida

Asian Firms to Replace Western Energy Majors If They Leave Russia Minister

Asian companies will replace Western majors if they quit energy projects in Russia due to sanctions over Moscow s role in Ukraine Natural Resources Minister Sergei Donskoi said

Norway Government to Outline Sverdrup Project Plan in Early 2015

The Norwegian government said on Monday it would outline plans in spring next year regarding the electrification of the 20 billion Johan Sverdrup oil field in the North Sea

Total To Sell More Assets Cuts Oil Output Target

Total plans to sell off assets cut investments and reduce operating costs to deliver on a promise of generating 15 billion in free cash flow in 2017

Salamander Gets EIA to Drill in G4 50 License Off Thailand By End 2014

Salamander Energy to drill in G4 50 license in the Gulf of Thailand before the end of 2014 after receiving approval for the environmental impact assessment

Greece Ratifies Energean s Licenses for Ioannina Katakolon Blocks

The Greek Parliament ratifies license agreements for Energean to explore and produce from the Ioannina and Katakolon blocks in western Greece

Ramba to Sell 25 Stake in Lemang PSC in Sumatra to Risco for 157 5M

Ramba Energy signs letter of offer to sell a 25 percent stake in Lemang production sharing contract in Riau and Jambi provinces South Sumatra Indonesia to Risco Energy Investments for 157 5 million

Siemens To Buy Dresser Rand To Tap US Shale Gas Boom

Siemens agrees to buy US oilfield equipment maker Dresser Rand Group for 7 6 billion in a move that would significantly boost its oil and gas business in North America

PTTEP to Acquire 20 Interest in Concession BM ES 23 Offshore Brazil

PTTEP to acquire a 20 percent interest in Concession BM ES 23 in the Espirito Santo Basin offshore Brazil from Shell

Risco Energy to Acquire Galoc Oil Field Operator GPC for 101 4M

Risco Energy inks 101 4 million deal to acquire Galoc Production Company which has a 33 percent operating interest in Galoc oil field in Service Contract 14C offshore the Palawan in the Philippines

SKKMigas Expects Banyu Urip Field to Commence Production in February 2015

Indonesia s upstream regulator SKKMigas expects the Banyu Urip oil field to commence full production in February 2015 as development work nears completion

Inpex to Enhance Gas Condensate Recovery at Minami Nagaoka Field in Japan

Inpex to upgrade facilities at Koshijihara Plant in Niigata prefecture Japan to enhance the rate of natural gas and condensate recovery at the Minami Nagaoka gas field

Fairmount Successfully Tows FPSO Petrojarl Knarr to Norway from South Korea

Fairmount Marine successfully tows newbuild FPSO Petrojarl Knarr to the Norwegian port of Haugesund from Samsung Heavy Industries Geoje Shipyard in South Korea

Fighting Close to Libyan Oilfield Refinery as Rival Oil Minister Appears

Soldiers and police have clashed in the last few days near Libya s biggest El Sharara oilfield in the south while separate fighting erupted in the west not far from the Zawiya refinery residents and medics say

US Crude Falls On Worries About Glut Brent Gains

US crude oil and Brent trade in opposite directions as a sell off ahead of Monday s expiration

Pingvin Well Finds Gas in Barents Sea

North Energy reports that the Pingvin exploration well on Norwegian production license 713 in the Barents Sea has found gas in a sandstone reservoir

Billionaire Fredriksen s Partner Quits Rig Firm Seadrill Shares Fall

Tor Olav Troeim who until recently was referred to as the right hand man of big Seadrill shareholder John Fredriksen will not seek reelection to the board of Seadrill

Oil Companies Eye Crude Price Drop But Keep Drilling

A 13 slide in crude oil prices since June has eroded some of the allure of drilling US shale resources and raised investor concerns but companies push ahead

Significant Water Recycling Achieved in Eagle Ford

A partnership between Dow and Omni Water Solutions allows for the treatment of over 700 000 barrels of per day of water at an oil and gas project in South Texas Eagle Ford play

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