Oil & gas news

Technip was awarded a lump sum contract by Hess Corporation for the development of the Tubular Bells field, located in the Mississippi Canyon area of the Gulf of Mexico at a water depth of approximately 4500 ft (1370 m).

Chevron and its partners have plans to spend US$ 8 billion on expanding a Kazakh oilfield.

A joint venture between Thiess and EV LNG Australia (EVT) has won an approximately US$ 500 million contract to build LNG storage and condensate tanks for the Chevron operated Wheatstone project.

Yemen LNG is to divert 20 cargos a year to Korea for the next three years to take advantage of the higher LNG spot prices as the US market has been depressed due to the impact of the shale gas discoveries there.

The American Petroleum Institute say that raising oil and natural gas royalty rates is bad energy policy.

February 2011: Time is usually regarded as a negative in any business endeavor – the quicker, the better. After all, time is money (right?). Balancing the ‘time required for sustainable change’ with a ‘schedule for change’ is almost always an exercise in conflict.

EOG has reported significantly increased quarterly and annual profits.

A dedicated cluster group has been launched by ITF in Australia to drive forward the country's oil technology development.

The White House Office of Management and Budget (OMB) has received a set of laws regulating fracking in the US and is due to review them.

Encana Corp. has signed an agreement with Mitsubishi Corp. for the sale of 40% of the Cutbank Ridge partnership.