Oil News

 

Mexico's chief regulator hopeful despite disappointing bid round

Aug 01, 2012

Mexico's latest licensing round only the second in state oil company Pemex's long history, made possible by recent exploration & production contract reforms failed to draw a successful bid for the offshore blocks on offer. Russell McCulley talks to Juan Carlos Zepeda Molina…

Statoil sets sights on the Paleogene

Aug 01, 2012

Statoil may not have the biggest R&D budget, but company officials say the operator's technological track record on the Norwegian continental shelf will help it push recovery rates to new highs and create the first subsea factory, including seafloor separation…

Subsea heading further, deeper, colder

Aug 01, 2012

At a recent Bergen conference showcasing the strength in depth of Norway's subsea industry, Statoil EVP Øystein Michelsen challenged delegates to work with his company in developing the technology to go further, deeper and colder and seize the…

Open markets key to stability

Jul 01, 2012

Open markets can be a powerful ally for a world seeking to manage short-term disruptions to energy supply and meet long-term demand, BP group chief executive Bob Dudley declared at the June launch of the BP Statistical Review of World Energy…

US exploration spending, reserves rebound

Jul 01, 2012

The US oil & gas industry grew across several categories in 2011, including a 38% increase in exploration and development spending, according to new analysis from Ernst & Young. Russell McCulley reports.While total capital expenditures among…

Mixed outlook for M&A

Jun 01, 2012

Despite higher oil prices, improving access to capital, increasing economic optimism and a generally more favorable deal environment, oil & gas executives are still cautious about engaging in M&A, according to Ernst & Young's sixth Global Capital Confidence Barometer…

An appetite for exploration

May 01, 2012

With the basin-opening Jubilee field and other oil and natural gas condensate discoveries, Kosmos Energy and its partners have placed Ghana on the deepwater oil & gas map. The company is now franchising its exploration strategy and aims to open…

England's eastern promise

May 01, 2012

'The scope of [NAM/Shell] well repair and maintenance work will see [Kraken] visit nearly 50 platforms.'Offshore oil & gas and wind power opportunities for England's eastern region were debated at the biggest ever conference staged by EEE…

Soaring oil price flags China’s path

May 01, 2012

The reigning and the emerging superpower are marching to their own beats, both of them in the process of long impact government elections and transitions. How the two countries handle themselves will affect the lives of millions, many beyond their borders…

Well stimulation at the double

Feb 10, 2012

Fifty-six i-FRAC sleeves were opened with three balls on the Norwegian shelf.Well technology company i-TEC has developed an innovative lower completion ball drop sleeve system which it claims can bring wells in tight formations online much more quickly than other methods…

Making a space-age splash

Feb 01, 2012

When the oil & gas community looks to the aeronautical industry it's usually for technological inspiration. Now offshore training is entering the space age too, courtesy of a recent deal brokered by defense specialist Raytheon that will enable…

Pazflor in perspective

Feb 01, 2012

The complexity and sheer scale of Total's Pazflor project in block 17 offshore Angola – the field covers 600km2, six times the surface area of Paris – was outlined at the recent Subsea Europe conference in Paris by Laurent Villard, the operator's SURF installation engineering leader…

Mariner back on track

Oct 01, 2011

Statoil’s two UKCS heavy oil developments – Mariner in block 9/11a and Bressay in blocks 3/27b, 3/28a, 3/28b, 9/2a and 3/a – are back on track having been halted by the operator in March following the UK Chancellor’s decision to increase the…

Ambitious Iraqi oil targets in doubt

Sep 01, 2011

Iraq's large oil-production potential could put it in a position to vie for leadership with Saudi Arabia in the world oil scene in the coming decades.But a study released by Rice University's Baker Institute for Public Policy finds that in the near term…

M&A market dips, maintains value

Sep 01, 2011

The number and total value of US oil & gas mergers and acquisitions dipped slightly in 2Q 2011 over the same period last year, according to a recent PricewaterhouseCoopers (PwC) study. But the average deal value for the largest transactions rose by 14%…

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