Oil & gas news

The IEA Oil Market Report for April raised its forecast of 2015 global oil demand by 90 000 bpd.

The Kymera hybrid drill bit with StaySharp cutters reduced pre-salt drilling costs by US$2.1 million.

Hydro Group has teamed up with mechanical engineering group EnerMech to launch an innovative new product offering to the market.

SM Energy Company has announced that production for the first quarter of 2015 is expected to be 16.8 million boe.

U.S. producers continue to make improvements, with net methane emissions from natural gas production falling 38% since 2005.

Noble Energy has identified the Rhea prospect as its initial target on the PL001 License.

Petroleum and energy minister Tord Lien is opening the Valemon gas and condensate field in the North Sea.

With nearly 100 billion bbls in reserves, the UAE isn’t too alarmed by the current dip in global oil pricing.

A 3D seismic programme is underway at the Pathfinder property in Colorado.

Technip has been awarded a front end engineering design contract located in the South China Sea.