Drilling & production

A group led by Kuwait Energy has won Block 9 in Iraq’s latest oil and gas bidding round. Tougher contracts could be scaring off investors.

The price of Brent crude has fallen again, risking its biggest monthly drop in two years. Disappointing news from China and fears about the Spanish banking system has, at least temporarily, eroded gains made as a result of the Iranian nuclear question.

Statoil has revealed that a gas leak occurred at the company’s Norwegian North Sea Heimdal platform.

Spanish company Repsol has revealed major plans designed to increase growth through extensive use of the company’s upstream wing over the next four years.

BP yesterday signed a MoU to provide long-term LNG supply to Indonesia’s state electricity company.

Royal Dutch Shell has revealed that it plans to call a halt on its oil exploration projects in the North African country of Libya. The company has blamed “disappointing results” which mean, “exploration cannot be economically justified.” BP has finally withdrawn its claims of force majeure, plans to enter talks with NOC.

May 2012: This article is not about the importance of being honest in the workplace. It is about the word 'brutal' and its hidden impact on the bottom line, the culture and management’s credibility.

A bill banning gas flaring, which will come into force at the end of this year, is being passed through the Nigerian government and is close to finalisation.

Continental Coal and Forzando Coal Mines enter mine life extension agreement.

Indian state company, Oil India, has announced that it would possibly be interested in acquiring a stake in ConoccoPhillips’ oilsands fields in Canada.

Mikhail Fridman, CEO of TNK-BP has resigned for “personal reasons.”

Stakeholders in the giant Kashagan offshore field have agreed to pay almost US$ 1 billion to cover the costs of the Kazakhstan government’s investment in the field.

Russia’s giant Shtokman field is to switch its production to LNG and begin focusing on Asian markets instead of Europe.

The two countries have resumed peace talks at the behest of African Union mediators. The UN Secretary General has welcomed the announcement as an end to the disputes between the two countries draws marginally closer.

Preliminary estimates from the IEA for 2011 show that in the USA, emissions dropped in 2011, largely due to the shift from coal power to natural gas.