BP To Invest $1B In North Sea
August 5, 2015
British oil major BP is planning to invest $1 billion (£640 million) to expand the life of its North Sea assets. The company hopes that this investment will secure the future of its Eastern Trough Area Project (ETAP) fields, located…
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Bechtel Lands FEED For U.S. First FLNG Vessel
August 5, 2015
Bechtel has been selected by Delfin LNG, a wholly-owned subsidiary of Fairwood Peninsula Energy Corporation, to perform front-end engineering and design for the first U.S.-based floating liquefied natural gas vessel (FLNGV) to go into service at Port Delfin. Port Delfin…
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Iran Boosts Oil Output From Salman Offshore Oil Field
August 5, 2015
An official at the Iranian Offshore Oil Company (IOOC) says the company has succeeded to increase crude oil production from the Salman oil field in the Persian Gulf, which Iran shares with the United Arab Emirates. Abbas Rajab-Khani, the official…
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Vantage Drilling Company, an offshore drilling contractor, has seen its profit for the second quarter of 2015 rise. The company Tuesday reported net income for the three months ended June 30, 2015, of $25 million compared to earnings of $10.2 million in the same…
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The President of Nigeria, Mohammadu Buhari, met Monday in Abuja Eni’s Chief Executive Officer, Claudio Descalzi, where Eni’s CEO updated the President on Eni’s oil and gas operations in Nigeria. According to Eni, Buhari was particularly pleased with the progress…
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Oil & Gas UK: Production Up For The First Time In 15 Years?
August 4, 2015
A month ahead of the publication of Oil & Gas UK’s Economic Report 2015, Deirdre Michie, chief executive, Oil & Gas UK, comments on a basin in the midst of reform: “Recent provisional figures from the Department for Energy (DECC)…
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Total, Eni, Exxon bet on Mozambique
August 3, 2015
Three majors are vying for the same block offshore Mozambique in Mozambique's fifth licensing round, according to the round application details released by the country's National Petroleum Institute (INP) today. It reveals that ExxonMobil, in partnership with Rosneft, Eni, with…
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OPEC Head Says Oil Prices Will Not Fall Further
August 3, 2015
OPEC sees higher demand balancing markets OPEC Secretary General Abdalla Salem El-Badri said the organization does not expect prices to fall any lower as demand picks up in 2016 and continues to grow through the end of the decade. “The…
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Gazprom Sweeten $400 Billion Chinese Gas Deal
August 2, 2015
At face value, Russia’s $400 billion deal to supply natural gas to China National Petroleum Corporation, via the state-controlled energy behemoth Gazprom, sounds like a coup for Moscow. But according to recent analysis, the deal is strongly tilted in China’s…
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"Momentum Is Growing For Repealing U.S. Oil Export Ban - 2 Key Developments This Week", as written by jeff Reed at OILPRO. A day after House Speaker John Boehner voiced his support for repealing the ban on US oil exports,…
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