Oil & gas news

Nigeria’s largest oil union has threatened to completely cut off production in response to the scrapping of a fuel subsidy.

After a visit by US Treasury Secretary, Timothy Geithner, Japan has vowed to make 'concrete' steps towards ending its reliance upon imported Iranian oil.

Encouraged by gas finds off Tanzania and Mozambique, Kenya has outlined eight new offshore oil exploration blocks.

Technip was awarded by Nexen Petroleum U.K. Limited a lump sum contract, worth approximately €135 million, for the Golden Eagle development located 110 km North-east of Aberdeen in 115 m of water. This contract is the largest ever awarded to Technip for a project in the UK Continental Shelf.

Scientists in London argue that fracking is unlikely to cause an earthquake greater than 3.3 on the Richter scale.

Mitsubishi Heavy Industries Compressor Corporation (MCO has received orders for three compressor trains and a power generation system to be used at Shell’s FLNG facility to the Prelude field located off the northwest coast of Australia.

Despite a tax increases and a murky economic outlook, a report by Wood Mackenzie reveals that capital investment in the UK oil industry hit a record breaking £7.5 billion last year.

FMC Technologies has signed an agreement with Anadarko Petroleum Corporation to continue providing subsea systems support.

US Treasury Secretary Timothy Geithner has met leaders in Beijing to discuss the possibility of Chinese support for sanctions on Iranian oil.

Statoil ASA together with its partners Eni Norge AS and Petoro AS have made a substantial oil discovery in the Havis prospect in the same licence as Skrugard (PL532) in the Barents Sea.