The global oil and gas industry needs to invest more than US$20 trillion over the next 25 years to meet expected growth in demand and compensate for the natural decline in developed fields, Saudi Aramco Chief Executive Officer Amin Nasser said on the 7th March….
Iraq’s parliament voted on the 6th March to establish a new Iraqi National Oil Company (INOC) to manage its upstream energy sector and serve as an umbrella body for its state-owned oil firms. The move revives a company originally established in the 1960s and…
Oceaneering International Inc has acquired Ecosse Subsea Ltd, a provider of offshore engineering, seabed preparation, route clearance and trenching services for about £50 million (US$69 million). Headquartered in Aberdeen, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables and…
Statoil has signed an agreement with Polenergia to acquire a 50% interest in the two early phase offshore wind development projects in Poland: Baltyk Srodkowy III (BSIII) and Baltyk Srodkowy II (BSII). The two projects have a planned capacity of 1200 MW with the…
AIM-listed UK Oil & Gas Investments (UKOG) has been informed by its 100%-owned subsidiary Kimmeridge Oil & Gas Limited (‘KOGL’) that Oil and Gas Authority consent for flow testing its Broadford Bridge-1/1z (‘BB-1/1z’) oil discovery has been extended to the end of March 2018. …
Russia’s state natural gas monopoly Gazprom says it is beginning efforts to end its contract to supply gas to Ukraine, raising concerns about downstream gas supply to European countries. Much of Russia’s gas to Europe is shipped via Ukraine’s pipeline system. A Russia-Ukraine gas…
Anadarko Petroleum Corporation has received official approval from the Government of Mozambique for its Golfinho-Atum field development plan, including Mozambique LNG. The plan outlines the integrated onshore project from the reservoir to the LNG market and is a culmination of progress made to date…
Vattenfall plans to invest SEK 1 billion (€100 million) in large-scale solar energy generation over the next two years. In addition, Vattenfall also provides small-scale solar solutions for customers. The investments support Vattenfall’s objective to become fossil-free within a generation. Vattenfall plans to invest…
US shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the United States, once the world’s top oil importer, closer to self sufficiency, the International Energy Agency said on the 5th March. A…
Petronas subsidiary PC Gabon Upstream SA (PCGUSA) has announced a new oil and gas discovery from its Boudji-1 exploration well in Block F14 (Likuale), located in South Gabon. The ultra-deepwater exploration well, drilled in water depths of 2,800 metres, encountered 90 metres of gross…
