Oil & gas news

Invensys have signed a US$ 12.4 million contract to upgrade the Bintulu LNG complex in Malaysia.

Rescue efforts are underway to free 32 workers who have been trapped following a coal mine explosion in northern Turkey.

The board of MacArthur Coal has rejected the revised, lower takeover bid from Peabody Energy.

Kidnapping remains a problem across the developing world with foreign nationals a particularly attractive target for criminals and militant groups.

Qatar Petroleum signed the exploration and production sharing agreement with Shell and Petrochina for Qatar block D.

Toreador and Hess have created a joint venture to exploit vast reserves of shale oil in the Paris basin.

Cheniere has announced the closure of the sale of it’s stake in Freeport LNG to ZHA FLNG Purchaser.

LNG Ltd has completed the FEED work for the Fisherman’s Landing project and has obtained an EPC proposal for the project.

Fluor Corporation has been awarded an early works contract by Santos for the Gladstone LNG project, and is the preferred contractor for the full EPC contract.

Few would disagree that 2009 was a terrible year for the North American oil patch. But now, as 2010 unfolds, the sector is gearing up to go. Is this the beginning of a renaissance in the petroleum industry or a false rally?