Chinse CNPC aims to produce 12.4 mln bbls at shale project, according to state media
China's state-owned energy group CNPC aims at producing 1.7 million metric tonnes of shale crude oil or 12.4 millions barrels in the next year as part of a pilot project, according to a report by Xinhua, the state news agency.
Japex to invest in US tight-oil project as operator
A senior executive at Japan Petroleum Exploration (Japex), said that the company is interested in investing in the U.S. tight gas and oil sector with a view to becoming an operator. Yutaka Nishimura said at…
Sources say that the incoming Mexican government wants to open Pemex up to oil partnerships.
According to four sources with knowledge of the situation, the incoming Mexican government will encourage the state oil company Pemex, to form equity partnerships with private oil firms, a model that is not popular with the president.
Empty Tankers Depart Venezuela; Sanctions Cancel Cargo
Three large crude carriers (VLCCs) chartered by units of Russian oil major Rosneft to transport Venezuelan oil left Caribbean waters empty on Saturday after the cargoes were canceled due to sanctions, according…
Oilfield Services Firms Moving Beyond Oil
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities…
Equinor to be ‘Offshore Wind Major’
The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank…
Tullow Decides $33 Mln Interim Payout
The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least…
Shell to Invest $2 Bln per Year in Brazil
Royal Dutch Shell has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview.Its investment plans could be…
Gas Production Set to Triple in Iraq
Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position…
Atlantic Canada Oil Spill Caused by Weak Flowline Connection
A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday.The spill is the largest…
Gabon Launches Offshore Exploration Round
Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday.In March…
Hess Has No Plans to Sell Remaining Asian Assets
U.S. oil producer Hess Corp has no intention to sell its assets in Asia as the region provides good, steady cash flow and a stable political environment, a senior company executive told Reuters on Tuesday.While…
Schlumberger CFO Ayat to Retire Soon
Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters.Stephane Biguet…
RBS to Cease Financing of 'high-carbon energy' projects
Britain's Royal Bank of Scotland said on Tuesday it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies, joining other banks like HSBC in shoring up its climate policies.
Aruba Begins Talks with U.S. over Aruba Refinery Pause
The Aruba government said on Thursday it started talks with the United States after Houston-based firm Citgo Petroleum slowed work on an overhaul of the Caribbean island's 235,000-barrel-per-day refinery due to a lack of credit.
Hess Posts 13th Straight Quarterly Loss; Shares Dive
U.S. oil and gas producer Hess Corp posted its 13th straight quarterly loss on Monday as ballooning expenses offset rising crude prices, sending shares down nearly 5 percent. Hess last month began cutting…
Iraq's Luaibi to Reopen Pipeline to Turkey
Iraq plans to reopen a crude oil pipeline from the Kirkuk oilfields to Ceyhan in Turkey, the oil ministry said in a statement on Tuesday, a route partly still in use by the Kurdistan Regional Government (KRG).
Buyers Eye Sinopec's Argentina Oil Assets
Sinopec's Argentine assets worth about $750 mln-$1 bln; Sonangol, Rosneft among potential suitors. Advisers to China's Sinopec have offered its oil assets in Argentina to about a dozen potential suitors, three sources familiar with the matter said…
Shell to Shed Iraqi Oil Assets
Royal Dutch Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state's flagship fields to focus on more profitable gas development. Shell's retreat highlights the challenges…
Cotemar Invests $200 mln in Oil Projects by 2018
Mexican oilfield services provider Cotemar plans to invest at least $200 million in two oil projects by the end of 2018 as it starts to operate fields on its own, a move made possible by sweeping energy reforms…
