Oil & gas news

Rosneft and ExxonMobil have signed an agreement to jointly develop tight oil reserves in Western Siberia and establish a joint Arctic Research Centre for Offshore Developments.

ConocoPhillips has resumed exporting LNG from its Alaskan LNG plant due to increased demand form Japan.

Nuri al-Maliki, the Iraqi Prime Minister has warned that an exploration contract between Exxon Mobil and the Kurdistan Regional Government (KRG) is dangerous and could potentially lead to a breakdown of the unity of Iraq.

Exxon Mobil is to cease its shale exploration activities in Poland in a move that will come as a heavy blow to the country’s ambitions of reducing its dependence upon Russia.

A spokesman for the Iraqi government has announced that Iraq is to hold a fifth oil and gas licensing auction in early 2013, with improved contract terms.

A consortium made up of NYK line, Mitsubishis Corp and TEPCO have signed a deal to take an equity stake in Wheatstone LNG with Chevron.

Ncondezi Coal Company Limited has released an update on its flagship Ncondezi coal project in the Tete provience of Mozambique as both the project’s definitive feasibility study and power plant near completion.

CoAL and Exxaro target completion of further studies and conclude negotiations by 30th September 2012 for valuation of the Makhado project.

Eni has purchased a 50% share in LLC Westgasinvest in order to gain access to the Lviv Basin in Ukraine to explore for shale gas.

The government of Kazakhstan has set out legislation insisting that it will have a majority stake in all new oil and gas pipelines built in the country.