Spain's Repsol has agreed a deal to buy Canadian exploration and production company Talisman Energy for US$8.3 billion plus debt - amounting to the largest international deal by a Spanish company in five years. The deal, which had been rumored for some months…
Chevron North Sea is considering a new bridge-linked platform (BLP) on its Captain field in order to carry out an enhanced oil recovery (EOR) project, using polymers, on the field. Newly formed engineering group Amec Foster Wheeler has…
Ophir Energy signed a production sharing contract (PSC) with the Myanmar Ministry of Energy to finalize the award of Block AD-03, offshore Myanmar. Upon the terms of the agreement, Ophir will be the operator with a 95% interest in the 10…
While high development costs are deeming many Australian liquefied natural gas (LNG) projects economically unfeasible, the country should stay focused on these rather than gambling on floating liquefied natural gas (FLNG) technology too soon…
Stone Energy’s Cardona deepwater development in the US Gulf of Mexico came online in November ahead of its sanctioned schedule and under budget. Image from Stone Energy. Cardona is located…
Weatherford International plc signed a definitive agreement with an affiliate of the Lubrizol Corp. for the sale of the Weatherford’s engineered chemistry and integrity drilling fluids business. The businesses will be sold for US$750 million in cash…
Petróleos Mexicanos (Pemex) installed the CA-Litoral-A production processing and compression platform in the Tsimin-Xux development project in the Bay of Campeche, Gulf of Mexico (GoM). Image from Pemex…
Petrobras hit first oil with the floating production and storage offloading unit (FPSO) Cidade de Ilhabela in the Sapinhoá field in the pre-salt Santos basin, offshore Brazil. Cidade de Ilhabela. From BG Group…
An underlying growth in global supply capacity, which is significantly outstripping demand, may mean that the world has now passed the peak price for oil, a report commissioned by Gaffney, Cline and Associates (GCA) suggests. The report…
Tullow Oil is to “significantly reduce” its 2015 exploration spend and focus on its West African producing assets, including the TEN development project, amid falling oil prices. The move will see Tullow’s investment focus on West Africa…
Fosun International subsidiary Transcendent Resources has almost completed its off-market takeover bid of Roc Oil. The Hong Kong-based Fosun announced that it has received acceptances of 92.595% of all existing Roc shares, which translates to 363…
Leading industry executives including BP CEO Bob Dudley cautioned against “over-reacting” to current low oil prices at global industry forum. 'While there has been some speculation that the high cost of unconventional oil production might…
While the specific terms of Mexico’s new contractual frameworks for its oil and gas industry are yet to be announced, the regime appears an attractive one and should be conducive to active bidding, according to an analyst with research and consulting firm GlobalData…
BP has added to its portfolio of enhanced oil recovery (EOR) technologies with a robotic coreflooding system. 'It will give us ten times increase in capacity to test out new EOR techniques on core samples,' Bob Dudley, BP group chief executive…
More than 2000 exhibiting companies and over 60,000 oil and gas professionals from 127 countries are expected at this week’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), at Abu Dhabi's national exhibition center, ADNEC…
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