Oil & gas news

Providence Resources has reported more good news from its Barryroe discovery, with analysis of sidewall cores showing high levels of permeability.

Max Petroleum has reported a double-dose of bad news in the guise of drilling delays and financial insecurity.

Archie Dunham, the former chief of ConocoPhillips has been brought in as the new chairman of Chesapeake Energy, replacing Aubrey McClendon.

A newly passed Vietnamese law requiring all foreign naval vessels operating in the waters around the Spratly islands to notify Vietnamese authorities has incensed the Chinese government.

Arch Coal has announced plans to idle several operations and to reduce production at other mining complexes in Appalachia due to the unprecedented downturn in demand for coal-fired power.

Aker Solutions is planning on building a new US$ 100 million service site for its drilling equipment business in Brazil.

Technip has been awarded the services contract for the Ichthys LNG FPSO facility.

The AFPM and API have both released statements commending the passage of the Domestic Energy and Jobs Act through the US House of Representatives.

The two companies intend to focus on joint upstream and midstream gas projects in Russia and Europe.

According to a recent report by the US Energy Information Administration (EIA), 76% of US coal exports in 2011 went to Europe and Asia.