While at first the oil price seemed to spur a rash of big M&A deals in 2014 and early 2015, analysts at GlobalData and IHS say the market could slow if the oil price doesn’t increase. Jeannie Stell reports. Image from Baker Hughes…
West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
Despite over 37 billion bbl remaining in proven reserves, oil production in Nigeria is forecast to falter due to underinvestment, with the country’s oil and gas sector in desperate need of reforms and transparency to reverse this trend, according…
MX Oil agreed to invest in an indirect, non-operated 5% revenue interest in the OML 113 license, offshore Nigeria, which includes the Aje field, a substantial development stage project with proven, flow tested discoveries where production is expected by January 2016…
Chevron Upstream Europe has installed a new topsides module on to its Brittania bridge linked platform, paving the way for the start-up of the Alder. The Alder high-pressure, high-temperature field was discovered in 1975, in Block 15/29a…
Two consortia of oil services companies have been selected to compete for an EPIC contract on Africa's first floating LNG project through two front end engineering and design contracts. The move will pitch McDermott Marine Construction…
AMP Capital and 3i Infrastructure plc (3i Infrastructure) have entered into an agreement to jointly acquire 100% of Danish company ESVAGT from Maersk Group. AMP Capital is investing approximately £109 million to acquire a 50% interest…
Watch this video, developed in house by Oilennium’s team of creative animators and media experts to demonstrate our capabilities and extensive range of cost effective online training products designed specifically for the Oil and Gas industry…
China’s national oil companies, Sinopec and CNOOC, want more interests in Brazil’s oil and gas assets, reports Seeking Alpha. The two companies bought into Brazil’s giant deepwater oilfields two years ago, and now seek to increase their holdings as Petrobras continues to sell assets…
Hungarian exploration outfit MOL Group has completed a deal with UK independent Ithaca Energy, giving it its first step into the Norwegian offshore sector. MOL has bought Ithaca's Norwegian subsidiary, which has stakes in 14 licenses…
Cardón IV S.A. started production at the giant Perla gas field’s first well in the shallow waters of the Gulf of Venezuela. Map of Perla. From Repsol. Perla, Latin America’s largest offshore gas field…
Royal Dutch Shell made the final investment decision (FID) to advance the Appomattox deepwater development in the Norphlet formation in the Gulf of Mexico (GOM). The project includes the construction and installation of Shell’s eighth and largest floating platform in the GOM…
Statoil will cancel the contract with the China Oilfield Services Ltd. (COSL) vessel, COSL Pioneer, about 13 months before the expiry date of August 2016, reports the company. COSL Pioneer has been suspended since 8 October 2014 and Statoil…
With HelWin2, Siemens has handed over the fourth North Sea grid link to the customer TenneT. This marks the start of commercial operation of the grid connection by the German-Dutch transmission grid operator. There are now four Siemens grid links with a transmission capacity of over 2…
Dolphin Drilling selected learning technologies provider Atlas Knowledge to deliver a new system to manage the competence and training of its workforce in the UK. The contract will employ Atlas to oversee the installation and development…
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