Essar Oil News

 

MX Oil, Geo, revise joint venture agreement

Jun 12, 2015

MX Oil announced a number of amendments to its joint venture agreement with its local partner Geo Estratos (Geo), which include an increase in MX Oil's interest in any concessions or exploration and production contracts to 55% from 51%…

Gazprom: Nearly 3 MMbbl of Arctic oil delivered to Europe

Apr 17, 2015

In April, Gazprom reached a milestone for its Prirazlomnoye oil field as the Kirill Lavrov tanker delivered a new batch of ARCO Arctic oil to Europe during its sixth shipment. More than 2.9 MMbbl of oil has been extracted from the Prirazlomnoye oil field since production began…

First oil flows from Nasr field

Feb 05, 2015

First oil from the Nasr oil field, 130km offshore Abu Dhabi, started 24 January, according to partner, Japan's INPEX.  First production has been achieved through existing facilities - the Abu Al Bukoosh (ABK) and Umm Shaif oil fields…

North Sea producers not covering costs

Jan 13, 2015

UK North Sea industry body Oil & Gas UK has said called on the UK Government to abolish a 30% charge on oil and gas producers as oil fell to its lowest prices in nearly six years.  The body says oil and gas producers in the basin are unable to cover their costs at US$50 a barrel…

Essar Oil appoints new CEO for E&P

Nov 26, 2014

Mumbai-based Essar Oil Ltd. announced the appointment of Manish Maheshwari as the new chief executive officer of the company’s exploration and production business. New CEO Manish Maheshwari. Photo from Essar…

Volatility hits oil and gas contracting levels

Oct 30, 2014

The latest EIC Monitor report paints a mixed picture of activity across the global upstream sectors in 3Q 2014, with a large decline in upstream activity. The global oil and gas industry has followed a gentle downward trajectory of project…

Oil & Gas UK chief executive to retire in 2015

Oct 21, 2014

Malcolm Webb, Oil & Gas UK chief executive, will retire in 2015. Webb. From Oil & Gas UK.   Oil & Gas UK says the exact date of his departure is yet to be agreed, but will be within…

Production starts from Umm Lulu

Oct 17, 2014

Production has started on the Umm Lulu oil field offshore Abu Dhabi, Inpex Corp. said today (17 October). Umm Lulu is about 30km northwest of Abu Dhabi city. Inpex subsidiary Japan Oil Development Co. jointly developed the field with Abu Dhabi National Oil Company (ADNOC)…

Fosun to buy Roc Oil for US$441 million

Aug 08, 2014

Chinese industrial conglomerate Fosun International Ltd. is buying Australia’s Roc Oil Co. Ltd. in an all-cash, A$474 million (US$441 million) transaction. Sydney-based Roc Oil has assets from Australia to Malaysia, China, and the UK North Sea…

Iranian production to reach 4MM b/d

Jun 02, 2014

Iran's oil production will reach 4 million barrels per day (bpd) by the end of the current Persian calendar year in March 2015, a senior Iranian oil official said. Mohsen Qamsari, director for international affairs at the National Iranian Oil Company (NIOC)…

Detecting Arctic oil spills

May 12, 2014

Decreasing ice cover is currently spurring increased activity in hydrocarbon extraction and shipping in the Arctic. Motivated by the threat of future oil spills in this environmentally sensitive area, Woods Hole Oceanographic Institution…

Canada, Saudi Arabia, Mexico increase share of US crude imports

Apr 04, 2014

The US Energy Information Administration’s new “Today in Energy” brief looks at how US oil imports were down in 2013, but the share of imports last year from the United States' top three foreign oil suppliers—Canada, Saudi Arabia, and Mexico—was the highest in at least four decades…

Maersk launches oil industry computer game

Jun 10, 2013

Maersk launched a new computer game called Quest for Oil, which the company designed to open the oil business to everyone.  Quest for Oil is the first game of its kind and with the convergence of forces, innovation and technology. Maersk…

Pinpointing leaks

Dec 07, 2012

Cambridge Consultants unveiled work that it believes will give a much-needed boost to offshore oil leak detection. It has built an oil spill detection technology platform capable of detecting the natural fluorescence of tiny amounts of oil in or on water…

Sailing close to the wind

Sep 01, 2012

A prediction of an oil price slump in less than a decade prompts Andrew McBarnet to onder on the prevailing wind currently favouring the marine seismic business.Possibly the most provocative oil industry analysis to surface in the last few months emanates from the portals of academia…

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