Oil News


UK business secretary to lead Offshore Europe keynote

Aug 20, 2013

Vince Cable, MP, secretary of state for business, innovation and skills (BIS) is to speak at SPE Offshore Europe 2013 at one of the conference’s keynote sessions. The session, The technology imperative – collaborating today to realise the next 50 years of North Sea potential…

OMV strikes US$2.65bn deal

Aug 20, 2013

Austrian energy group OMV is to buy Norwegian and UK North Sea assets from Norway’s Statoil in a US$2.65billion deal. The deal will see OMV acquire 19% interest in the producing Gullfaks field and 24% in the Gudrun field, both oil and gas fields offshore the Norwegian Continental Shelf…

ONGC touts discoveries off India

Aug 15, 2013

India's Oil & Natural Gas Corp. (ONGC) announced three offshore and one onshore discovery during Q1 of its fiscal year 2013-2014, which ended 30 June, and one additional onshore discovery in August 2013 (Q2). Offshore: New prospect discovery: exploratory well KGOSN041NANL-2…

Mexican president proposes energy reforms

Aug 14, 2013

Mexican President Enrique Peña Nieto proposed his plans to reform Mexico’s energy industry in an effort to ease restrictions on foreign investment. The plan calls for amendments to articles 27 and 28 of the Mexican Constitution, which…

Faroe Petroleum pays $22.5M for North Sea acquisitions

Aug 13, 2013

Faroe Petroleum completed the acquisition of a 10% non-operated interest in the BP-operated East Foinaven oil field and a 0.5% interest in the West of Shetland Pipeline System, both from Marubeni Oil & Gas (North Sea) Ltd . The net consideration payable for the acquisition of the interests…

Drilling expected to begin in Black Sea

Aug 12, 2013

Beach Energy announced that drilling is expected to begin on the 01RX Cobalcescu South exploration well in Block EX-28 offshore Romania. According to the company, the well will be spudded during Beach Energy’s August reporting period…

Eni spuds well off Vietnam

Aug 12, 2013

Eni has spud the Cua Lo-1 exploration well located in Block 105-110/04, in the Gulf of Tonkin, off Vietnam, partners Neon Energy and KrisEnergy announced. The well, spud on August 11, 2013, is designed to test the large Cua Lo gas prospect…

EIA: China to become largest oil importer

Aug 12, 2013

The United States Energy Information Administration (EIA) issued news release on 9 August with its forecast that China's net oil imports will exceed those of the U.S. by October 2013 on a monthly basis, and by 2014 on an annual basis, making China the largest oil importer in the world…

W&T Offshore announces subsalt discovery at Ship Shoal 349

Aug 09, 2013

W&T Offshore, Inc. (NYSE: WTI) announced on 25 July 2013 that it made a subsalt discovery in a deep shelf exploratory target beneath its Ship Shoal 349 Mahogany field. The SS 359 A-14 well exceeded expectations and is currently producing from the targeted T-sand (in excess of 17…

Thai spill cleanup continues

Aug 08, 2013

Volunteer staffs of PTT Global Chemical Plc (PTT), along with Thailand Navy personnel, are still working to clean up the remaining oil slick that washed up on the beach of Koh Samet Island. The crew placed an absorbent boom along the beach…

Petrobras strikes Iguacu Mirim oil

Aug 08, 2013

Petrobras encountered oil in well 3-SPS-101 (3-BRSA-1179-SPS), in the Carioca Discovery Evaluation Plan area, block BM-S-9, Santos Basin pre-salt. The well, also known as Iguaçu Mirim, is located 303km off the coast of the state of São Paulo…

Small oil discovery in North Sea

Aug 07, 2013

Exploration well 16/2-18S, located on Statoil operated PL265 in the North Sea, was drilled west of Johan Sverdrup discovery about 9 km west of  well 16/2-6 and 3 km west of appraisal well 16/2-14. The primary exploration target of the well…

Big numbers for Offshore Europe

Aug 07, 2013

Next month’s SPE Offshore Europe exhibition and conference will be the largest in the event’s history with more exhibiting companies and countries represented than ever before.  The sold-out exhibition halls, covering a record 27,082…

PGS highlights Kara Plate

Aug 07, 2013

Petroleum Geo-Services (PGS) has highlighted the exploraton prospectivity of northern Kara Sea, after completing research and 2D seismic in the region. PGS says, according to its research, the area, known as the Kara Plate, is a “highly promising proliferous region”…

Shell hits Yucatan pay

Aug 06, 2013

Shell has hit an oil-bearing zone at its Yucatan North-1 exploration well in the US Gulf of Mexico, Shell's partner Inpex confirmed. The oil-bearing zone, located within Walker Ridge 95/96/139/140 blocks, contains approximately 36m net pay…

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