Although Papua New Guinea has a strong economy resulting from exploitation of its extensive petroleum deposits and abundance of other natural resources ranging from minerals to forest products, the nation is one of the least developed countries in the Asia Pacific region…
Angola project to produce 150,000 b/d of oil PSVM Project (Image: BP)Production had begun from BP and Sonangol's PSVM development in Block 31, off Angola, the partners confirmed on 1 February 2013.Three wells at the Plutao field are…
As Australia grapples with chronic oil production decline in the face of rising imports, the buoyant gas sector offers the prospect of rising revenue from LNG export. John Mueller reports.Eyebrow Natural gas lifts Australian reserves As Australia…
Natural gas is still not a global fungible commodity, although the LNG trade steadily grows as projects and the global fleet expand. ExxonMobil thinks that worldwide natural gas use will grow more than any other fuel – by 65% over the next 30 years…
FMC buys 173-acre parcel of land in Houston Map of Generation Park in HoustonFMC Technologies, Inc. announced that it has purchased a 173-acre parcel of land in Houston, Texas. FMC Technologies has experienced significant growth over the…
AKCS coup furthers Aker's Canadian expansionAker Solutions strengthens its commitment to the Canadian oil and gas market through taking full ownership of Newfoundland and Labrador-based AKCS Offshore Partner.'The buy-out will support…
US crude and condensate production has been falling since 1972 with only a couple brief periods of respite or flattening downward. Most analysts felt that the decline was irreversible. The decline flattened in 1991, 1997 and 2001 and, as a result of a dramatic jump in oil prices…
Andrew McBarnetIf there was such a thing as an annual horoscope for the marine seismic and related geophysical businesses, then in the coming year we can expect at least some improvement on 2012. In other words, unless there is some totally unexpected destabilizing economic…
OE Magazine launches dedicated news website OE Magazine has launched a dedicated website OEdigital.com, which will provide readers with the latest oil and gas news, technological trends and exclusives.The new OEdigital.com connects oil and…
Last month, Noble Energy, the Houston company that has played a vital role in drilling and confirming massive deepwater natural gas deposits (some of the largest in recent memory) in Israeli and Cypriot waters, announced a 30% sale of the Leviathan field to Australia's Woodside for about $2…
'The most disappointing part of the empty energy pledges made by both candidates is that cutting oil imports does very little to address oil prices.'The US election is now over. However, from what the candidates said during the long campaign…
Photo: Tar Sands BlockadeTexas man sues to stop Keystone construction OilPrice.com - Now that elections are over, everyone is waiting for a decision on the Keystone XL pipeline, but it's not so easy amid the atmosphere of protests that have…
President-elect Enrique Pena NietoPena-Nieto wants private investment in energyOilPrice.com - Big potential changes south of the border. Mexican President-elect Enrique Pena Nieto has announced that he wants increased private investment in the nation's energy industry…
Sabine Pass LNG2MPTA will be bought from Sabine LiquefactionCheniere Energy Partners announced that its subsidiary Sabine Pass Liquefaction has entered into a liquefied natural gas sale and purchase agreement (SPA) with Total Gas & Power North America…
Kitimat LNG illustrationChevron buys EOG, Encana stake in Kitimat LNGEOG Resources and Encana have sold their shares in Kitimat LNG and the Pacific Trail Pipeline to Chevron, the supermajor announced on 24 December 2012.The financial terms of the deal were not disclosed…
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