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UKOG sees hydrocarbon potential on P1916 offshore Isle of Wight M Prospect
26 March, 2015
UK Oil & Gas Investments (UKOG) said its initial subsurface analyses of the P1916 offshore licence on the Isle of Wight confirms the potential for significant un-risked hydrocarbon volumes...
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Chevron's subsidiary signs PSC for Block A5 in Rahkine Basin, Myanmar
Thursday, March 26, 2015 Chevron's subsidiary Unocal Myanmar Offshore has signed a production sharing contract (PSC) with Myanma Oil & Gas Enterprise (MOGE) to explore for oil and gas in the Rakhine...

Oil prices increase after Saudi Arabia military operation in Yemen
Thursday, March 26, 2015 The price of Brent crude oil increased over 4% towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies started a military operation in...

Yokogawa Electric to deliver control systems for Petronas’ second floating LNG facility
Thursday, March 26, 2015 Yokogawa Electric has secured a contract to deliver control systems and safety instrumented systems for Petronas' second floating liquefied natural gas (FLNG) facility,...

Low commodity prices force Chesapeake Energy to reduce 2015 capital budget
Wednesday, March 25, 2015 Chesapeake Energy has reduced its 2015 capital budget from $3.5bn to $4bn for 2015 due to a low commodity price...

KrisEnergy finds oil and gas pay at Rossukon-2 well in Gulf of Thailand
Wednesday, March 25, 2015 KrisEnergy has encountered oil and gas pay at the Rossukon-2 exploration well in G6/48 in the Gulf of...

Brent price drops to $55.11 per barrel as dollar picks up against euro
Wednesday, March 25, 2015 The price of Brent crude dipped with the dollar value, picking up against the euro amid concerns of excess global...

Production starts from Maari MR6A development well in New Zealand
Wednesday, March 25, 2015 Cue Energy Resources has started production from the Maari MR6A development well in the Taranaki Basin, offshore New...

Oceaneering wins role on Offshore Cape Three Points project in Ghana
Tuesday, March 24, 2015 Oceaneering International has won a contract to deliver equipment for the Offshore Cape Three Points (OCTP) block development project in...

Asco secures oilfield services contract from BP
Tuesday, March 24, 2015 Oilfield support services firm Asco has secured a contract worth over £100m to support BP's UK North Sea...

Oil holds below $56 on record production from Saudi Arabia
Tuesday, March 24, 2015 The price of Brent crude oil steadied at just under $56 a barrel today after factory activity in China fell to an 11-month low, and Saudi Arabia reported its production to be close to an...

Turkish Petroleum adds Paradigm Reverse Time Migration to product portfolio
Tuesday, March 24, 2015 Turkish Petroleum (TP), the national oil company of the Republic of Turkey, has added Paradigm Reverse Time Migration (RTM) to its product...

FMC Technologies and Technip to launch new firm for subsea operations
Monday, March 23, 2015 FMC Technologies and Technip are forming a new company to help oil firms reduce the cost of subsea field...

Woodside signs PSCs for four Myanmar offshore blocks
Monday, March 23, 2015 Woodside has signed production sharing contracts (PSCs) for Myanmar offshore blocks AD-2, AD-5, A-4 and...

Oil falls below $55 on strong US dollar
Monday, March 23, 2015 The price of Brent crude oil has fallen below $55 a barrel due to the strength of the US dollar (USD), as well as news that Saudi Arabia would only consider output cuts if other producers...

Independent Oil and Gas adds Hambleton discovery to UK North Sea portfolio
Monday, March 23, 2015 UK-based Independent Oil and Gas (IOG) has added the Hambleton discovery to its assets after its license covering the 48/22c block was extended by...

Transocean plans to scrap four offshore drilling rigs
Friday, March 20, 2015 Transocean intends to scrap four offshore drilling rigs, which is expected to cost the Switzerland firm anywhere between $300m and $325m in non-cash charges during the first...

BOEM announces oil and gas lease sale for Central Gulf of Mexico
Friday, March 20, 2015 The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has held oil and gas Lease Sale 235 for the Central Gulf of...

Brent crude slips below $54 amidst worries of oversupply
Friday, March 20, 2015 The Brent crude oil price slipped towards $54 a barrel on Friday, owing to worries of oversupply, as Kuwait said the Organization of the Petroleum Exporting Countries (OPEC) needs to retain...

BG Group starts oil production from Knarr field n Norway
Thursday, March 19, 2015 UK oil and gas firm BG Group has started producing first oil from the Knarr field in the Norwegian North...

UK introduces tax cuts and allowances to support North Sea oil industry
Thursday, March 19, 2015 North Sea oil and gas companies struggling from slump in oil prices will benefit from the UK government’s decision to cut taxes and introduce allowances to attract investments in the industry....


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