Oil & gas news

CNOOC and BG Group have signed a heads of agreement for the sale of equity in Queensland Curtis LNG and the sale of LNG supplies for US$ 1.93 billion.

BG Group shocked markets and took a 17% hit to its share price when it announced that the company would see no production growth in 2013.

In a recent survey conducted by Reuters, analysts were asked to predict the likely price of crude oil by the end of the decade.

Runge Ltd has announced a formal partnership with China Kingho Energy Group, a leading mining and energy company.

Canadian company Tag Oil has made a US$ 534 million bid for New Zealand’s Greymouth Petroleum.

BP has seen its shares rise by 3.5% and profits have soared as the company continues its extensive divestment programme.

Somaliland’s mining and energy minister has claimed that the internationally unrecognised state could see companies drilling for oil within its borders by 2014.

In the wake of three major helicopter companies halting flights amid safety concerns, oil companies operating in the North Sea are having to rely on ships to bring workers to and from offshore platforms.

Tanzania and the semi-autonomous island of Zanzibar have reached a deal on the future sharing of hydrocarbon reserves after arguments resulted in exploration projects being delayed.

Russian giant, Gazprom has pledged to invest US$ 38 billion in the development of the eastern Chayanda gasfield and a pipeline to Vladivostok.