Oil & gas news

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.

Chevron Corp. has made a major natural gas discovery in the Greater Gorgon Area of the Carnarvon Basin, offshore Western Australia. The discovery will further underpin the companies proposed Gorgon LNG project.

Poland and Ukraine are planning to wean themselves off Russian oil and gas by developing domestic shale gas reserves.

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.

The Brazilian National Oil Agency (ANP) said that it had no objections to Chevron submitting its proposal to resume drilling at the Frade oilfield, which was the site of an oil spill in November 2011.