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Category Archives: News

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Obama Proposes New Rules For Offshore Oil Wells

April 15, 2015

The Obama administration proposed tighter rules for the offshore drilling equipment designed to be the last line of defense against oil-well blowouts, five years after the fatal BP Plc spill off Louisiana fouled the Gulf of Mexico. The proposal Monday by the Interior Department builds on standards industry has set for so-called blowout preventers since… Continue Reading »

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Western Australia Hopes to Expand LNG Ties with Singapore

April 14, 2015

Western Australia intends to tap on the state’s enormous gas resource to step up its economic cooperation with Singapore as the Southeast Asian country harbors hopes of becoming a liquefied natural gas (LNG) trading hub in Asia Pacific, according to a senior state government official, a Singapore newspaper reported Saturday. Colin Barnett, premier of Western… Continue Reading »

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Aker Solutions: No Additional MMO Layoffs

April 13, 2015

Aker Solutions has released a response regarding yesterday’s reports in Norwegian media about the company’s plans to further reduce its MMO workforce. Namely, the company said in February it will be cutting another 300 jobs in its maintenance, modification and operations (MMO) division off Norway due to a decline in activity caused by falling oil prices… Continue Reading »

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Iran Seeks to Mend Fences with Chinese Oil Firms to Get Projects Going

April 12, 2015

Iran hopes to resolve differences with Chinese energy companies on oil and gas projects in the Islamic republic, as Tehran wants to be ready to raise output quickly after a potential lifting of sanctions this year, Iranian oil officials said on Wednesday. The officials are in China this week to discuss Chinese investments in oil… Continue Reading »

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Argentina Says Plans Lawsuits Against UK Oil Firms Near Falklands

April 11, 2015

Argentina said it would begin legal action on Thursday against British energy firms operating near the Falkland Islands, in a growing war of words over the disputed South Atlantic territory. The move is the latest diplomatic spat between Britain and Argentina, who fought a short war over the Falklands in 1982, and has led to… Continue Reading »

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Shell, BG Merger Will Require Cost Savings to Work

April 9, 2015

Royal Dutch Shell plc’s $70-billion offer to buy out BG Group will involve job cuts in order to make the first “super merger” of oil companies in a decade work financially, according to industry observers and the two companies involved. In a statement to the London Stock Exchange Wednesday, BG said that Shell – having… Continue Reading »

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Colombia’s Cano Limon Oil Pipeline Halted By Bomb Attack

April 9, 2015

Colombia’s Cano Limon oil pipeline has been shut down following a bomb attack on Sunday evening, state-run oil company Ecopetrol said, adding that it did not expect exports to be disrupted. Attacks on the Andean country’s oil pipeline network by the country’s leftist FARC and ELN guerrilla movements are frequent, with more than 130 in… Continue Reading »

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Cairn India Takes Indian Authorities To Court Over $3.3B Tax Demand

April 8, 2015

Cairn India Ltd, India’s largest private-sector oil producer, said on Monday it had moved the Delhi High Court against a $3.3 billion tax demand from Indian authorities related to its listing in 2007. The company, a unit of London-listed Vedanta Resources Plc, said it had filed a writ petition seeking “quashing/setting aside” of the order… Continue Reading »

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Douglas-Westwood: US Shale Gears Up for Price Recovery

April 7, 2015

Douglas-Westwood (DW), UK’s energy business strategy, research and commercial due-diligence services provider, commented on “U.S. Shale – Gearing up for a price recovery” in its latest edition of DW Monday. OPEC members (predominately Saudi Arabia) have traditionally been the only countries with the ability to ramp-up production through spare oil supply capacity. Nowadays, however, following… Continue Reading »

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