News

China oil demand to grow in 2016

BEIJING, China (Reuters) -- Chinas oil demand will grow 4.3% this year to surpass 11 MMbpd, compared to 4.8% growth last year, the countrys top energy group forecast on Tuesday. State-owned China National Petroleum Corporation (CNPC) sees t......【more】

2016-01-27

OPEC flood a boon to China oil giant as Iraq boosts output

SHANGHAI, China (Bloomberg) -- OPECs decision to flood global markets is helping Chinas biggest oil company pump record volumes overseas. China National Petroleum Corp. more than doubled production from Iraq last year as the groups second-b......【more】

2016-01-22

ExxonMobil, Hunting’s Titan division to develop autonomous tools technology

SPRING, Texas ExxonMobil Upstream Research Company has signed a joint development agreement with Huntings Titan division to develop new autonomous tools technology focused on creating a step change in well construction and intervention effi......【more】

2016-01-19

China sets oil price floor at $40 to protect domestic supply

BEIJING (Bloomberg) -- China wont let fuel prices fall in line with crude below $40/bbl as the worlds second-biggest oil consumer seeks to curb pollution and shield domestic producers from oils collapse. The move aims to curb pollution and......【more】

2016-01-14

ConocoPhillips exports first cargo from Australia Pacific LNG

HOUSTON -- The first cargo of LNG has departed from the Australia Pacific LNG (APLNG) facility on Curtis Island in Queensland, Australia, ConocoPhillips said Monday. The Methane Spirit departed Curtis Island with the facilitys first shipmen......【more】

2016-01-12

Iran's bid for oil investment at risk from Saudi clash

DUBAI (Bloomberg) -- Irans diplomatic rift with regional rival Saudi Arabia will stiffen the challenge it faces in attracting foreign investment once sanctions on its economy are lifted, according to analysts from IHS Inc., Energy Aspects L......【more】

2016-01-11

Saudi Arabia considering IPO for Aramco

RIYADH (Bloomberg) -- Saudi Arabia is considering its own Big Bang. The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial p......【more】

2016-01-08

GE, Accenture announce first deployment of Intelligent Pipeline Solution

GE and Accenture said Wednesday that Columbia Pipeline Group (CPG) is the first company to deploy the Intelligent Pipeline Solution, a software solution that helps pipeline operators make informed decisions around pipeline safety and integr......【more】

2016-01-07

Upstream M&A deal count plunged last year on oil price volatility: IHS

HOUSTON -- Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (MA) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made......【more】

2016-01-06

Shell starts gas production from offshore Ireland Corrib field

Natural gas has started to flow from Irelands Corrib gas field, marking an important milestone for the country. Located 83 km off Irelands northwest coast in water depths of almost 350 m, the Corrib gas field lies approximately 3,000 m belo......【more】

2016-01-04

TAQA announces first oil from Cladhan field in North Sea

Abu Dhabi National Energy Company PJSC (TAQA), has announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform. Peter Jones, TAQAs UK m......【more】

2015-12-30

UAE says end of U.S. oil export ban not to affect global market

A file picture taken on May 27, 2007 file photo shows an oil rig in Tioga, North Dakota. The United States lifted a 40-yearban on oil exports on December 18, 2015, a move long sought by the oil industry to open an outlet for ballooning prod......【more】

2015-12-29

Nigerian gas plant explosion leaves at least eight people dead

An explosion at a gas plant in the southeastern Nigerian state of Anambra killed at least eight people on Thursday and left several injured, according to the state governors spokesman. The preliminary investigation showed the blast at Nnewi......【more】

2015-12-28

Gazprom and NIGC hold first meeting of JCC

Tehran hosted today the first meeting of the Joint Coordinating Committee (JCC) of Gazprom and National Iranian Gas Company (NIGC). On behalf of the Russian party the JCC co-chairmen are Vitaly Markelov and Alexander Medvedev, deputy chairm......【more】

2015-12-25

Scientific Drilling appoints Abrant to lead operations, sales

Scientific Drilling International (SDI), a privately held directional drilling service company, has announced the promotion of Chip Abrant to the position of senior V.P., Global Operations and Sales. In this new position, Mr. Abrant will le......【more】

2015-12-24