Oil & gas news

Lundin Petroleum has announced that it has struck approximately 60 m of gas pay offshore Malaysia.

BP Trinidad & Tobago (bpTT) has discovered an estimated 1 trillion cubic feet of gas offshore Trinidad, doubling the estimated gas in place of the Savonette gas field, to 2 trillion cubic feet.

Italy’s coal imports will rise by 12% this year to 19 million t, but its current market share remains the lowest in Europe, hitting the competitiveness of Italian industry, says industry association.

About 75% of US coal exports were shipped to Europe and Asia in 2012, continuing the growth of the past few years with exports this year expected to reach an all-time high, according to the US Energy Information Administration.

In a plea deal arranged with the US Department of Justice, BP has agreed to plead guilty to several criminal charges surrounding the Macondo spill, resulting in a fine of US$ 4.5 billion.

Iraq has revealed plans to spend up to US$ 150 billion on boosting the country’s future output to 12 million bpd

NOVATEK and ROSATOM are to work together on developing icebreaker support for the Northern Sea Route.

Singapore LNG Corporation Pte Ltd (SLNG) has awarded a FEED contract to Worley Parsons for the proposed expansion of its LNG terminal send out and storage facilities.

The IEA unveils two scenarios, laden with predictions for the likely future of global energy supply and demand up to 2035, with a special focus on energy efficiency.

An American Petroleum Institute poll shows that 73% of voters favour more oil and natural gas development.