Oil & gas news

ConocoPhillips and the China National Offshore Oil Corp. (CNOOC) have reached an agreement with China's Ministry of Agriculture to resolve issues related to the June 2011 incidents at the Peng Lai 19-3 field in Bohai Bay.

The American Petroleum Institute says that with right policy changes, administration support for energy development could be a needed course correction.

Energy Information Administration energy projections show need for policy changes, according to the American Petroleum Institute.

Peabody Energy has announced in full year results for 2012, reporting an increase in operating profits to US$ 1.59 billion. Investment in Australia will continue apace; however, the company warns of depressed conditions in the US market due to muted economic growth and increased coal-to-gas switching.

Tenaris and CRC-Evans have entered in a strategic co-operation agreement for offshore pipeline applications.

India is set to become the largest importer of coal in the world. But doubts remain over many aspects of current power sector legislation and electricity tariffs. Mike King examines the uncertainty this is creating for the power generating companies and the miners that serve them.

Polish company, Lotos, will begin drilling operations in Lithuania in the hopes of finding shale gas.

Environmental regulation of the Canadian oilsands projects is similar to other operations of comparable size and scope, IHS CERA report says.

Norwegian company, Hoegh, has won a contract for one of its soon-to-be-built LNG floating storage and regasification units.

Norway’s 22nd round of licensing sees three of the four nominated blocks located in the Barents leading to high levels of exploration interest.