An international tribunal has ordered the Russian government to compensate a group of Spanish investors for the losses they suffered when Russia seized the Yukos Oil Company, one of the largest oil and gas companies in the world.
Total has made the final investment decision for the Tempa Rossa field in the Basilicata region of southern Italy.
Technip has reported a 1.3% rise in net profits for Q2 and lower oil prices have yet to take their toll on the company’s outlook for the rest of the year.
Libya’s Deputy Oil Minister, Omar Shakmak has said that he expects the country’s oil production to return to its pre-war levels by October.
Tullow has posted a boosted net profit for the first half of 2012 as a result of a farm-down of the company’s Ugandan assets.
US authorities have launched a “multi-week” live drill to test their ability to deal with a major offshore oil spill.
A deal to end the conflict over oil between Sudan and South Sudan could still be a long way off as a recent proposal by South Sudan has been rejected by Khartoum.
Chevron North Sea Ltd has selected WorleyParsons and its INTECSEA subsidiary to execute the FEED for the Facilities associated with Rosebank field, which include an FPSO and subsea infrastructure.
CNOOC has made a bid for Nexen worth US$ 15.1 billion as part of a takeover scheme that has raised questions over the wisdom of selling energy assets to foreign state-run companies.
Iran has completed the construction of the first of several domestically built oil tankers ordered by Venezuela.
July 2012: when mining companies make acquisitions, the focus is on the plant and equipment and this means the attendant workforce can be neglected.
Petrofac has announced that it has been awarded a construction services contract for Apache in the North Sea.
Reports have emerged that show how Iran is trying to avoid sanctions on its oil by allowing private third-party companies to sell on its behalf.
China National Petroleum Corp. (CNPC) is in discussion with the government of Ecuador regarding possible involvement in a refinery development.
A tanker owned by FAL Oil, a company under scrutiny by Washington for its ties to Iran, has been seized by authorities in Singapore due to unpaid debts.