Oil & gas news

An Alberta court has fined Statoil C$ 190,000 for improper use of water in its Alberta oilsands operation.

RasGas has signed a long-term LNG supply agreement with EDF Trading for an annual contract quantity of up to 3.4 million tpy of LNG, equivalent to approximately 4.5 billion m3/yr of natural gas. It marks a further extension of a long-term relationship between RasGas and EDF Trading.

State-owned Israel Natural Gas Lines has reportedly signed a deal with Micoperi, the Italian marine contractor, to construct an offshore LNG terminal worth approximately US$ 140 million.

Gérard Mestrallet, Chairman and CEO of GDF SUEZ signed two agreements with China Investment Corporation (CIC) and China National Offshore Oil Corporation (CNOOC) illustrating the development strategy of GDF SUEZ in China and in the Asia-Pacific region.

OAO Gazprom, and of BASF SE have signed a framework agreement which sets out the terms for the planned asset swap to further expand the successful cooperation.

Steel maker ArcelorMittal has made an unexpected last-minute withdrawal from its US$ 5 billion joint bid for control of Macarthur Coal, leaving joint venture partner Peabody Energy to proceed with the takeover alone.

Total E&P UK, one of the largest operators in the UK sector of the North Sea, has extended its contract for AGR’s Riserless Mud Recovery system (RMR) by four years.

BP’s chief executive Bob Dudley ahs declared that BP has reached a turning point and is now profitable after the last disastrous year that it has been through following the Macondo oil spill.

The US Environmental Protection Agency (EPA) has announced that it intends to develop new wastewater discharge standards for coalbed methane (CBM) and shale gas extraction that could significantly increase the cost of disposal.

Kongsberg Oil & Gas Technologies (KOGT) has signed an agreement to supply a flexible risers and umbilicals installation system for the ‘Capstan Reel Installation System’ (CRIS), to the Offshore Installation Group (OIG).