Oil & gas news

Five bombs are reported to have exploded at an oilfield in Northern Iraq on Saturday; two pipelines were damaged but the country’s oil exports have not been affected.

Employees at Baker Hughes’ Norwegian unit have gone on strike, hindering drilling and maintenance, but not production.

Shareholders in Chesapeake Energy Corp have shown their displeasure with the way the company has been run, by refusing to back the re-election of two board members.

The Islamic Republic of Iran has come under intense financial pressure as sanctions on oil exports imposed by the EU and Washington have begun to cut into the Iranian economy.

Alpha Natural Resources are shutting down four mines idling two coal preparation plants as demand for coal has fallen drastically over the last few years.

The Oklahoma based company continues to fight towards meeting a funding shortfall of approximately US$ 10 billion.

Shell has signed an Mou with TravelCenters of America to sell LNG as fuel for HGVs through its network of fuel stops.

Tullow Oil has had success with its’ Paon-1X exploration well in the CI-103 licence offshore Côte d'Ivoire, which has intersected good quality light oil in a Turonian fan system.

Statoil has signed a deal to supply 1 billion m3 of LNg over 3.5 years to Petronas in Malaysia.

A report by APPEA has concluded that even thought here is still uncertainty in the industry, the potential rewards to Australia if the gas industry continues to grow are enormous.