Assuming implementation, this calculation will result in a reduction of 5.17% in Statoil’s equity interest in the field from 20.21% to 15.04%. Statoil previously initiated arbitration proceedings to set aside interim decisions made by the Expert. By a decision received by Statoil on 4 November 2015, the arbitration tribunal has [...]

BP Technology Outlook predicts secure and sustainable energy future through application of existing and new technologies Advances in technology will keep energy supplies plentiful and affordable – enough to meet projected demand many times over -- and help pave the way to a lower carbon energy mix, according to data [...]

Technip was awarded a substantial(1) contract from Libra Oil & Gas BV, a consortium led by Petrobras Netherland BV (40%) and partners: Shell (20%), Total (20%), CNOOC (10%) and CNPC (10%). The project includes the supply of flexible pipes for the Libra Extended Well Test field, located in the Santos [...]

SBM Offshore is pleased to announce that its main Brazilian subsidiary has received written notification from Petrobras of its ability to participate in the recently issued Libra and Sépia FPSO tenders in Brazil.  This follows a thorough review of the Group's compliance standards by Petrobras, including its compliance department. A [...]

INPEX CORPORATION (INPEX) announced today the INPEX-operated Ichthys LNG Project safely launched its central processing facility (CPF) on September 19, 2015 from the offshore floating dock at the Samsung Heavy Industries shipyard in Geoje, South Korea, where it is being constructed. INPEX President Director Australia Seiya Ito said the successful [...]

Petrobras informs that it is in final negotiations with Mitsui Gas and Energy of Brazil Ltda for the sale of 49% of the holding company that consolidates the interests of Petrobras in the state natural gas distributors. This operation, carried out through competitive process, is part of the divestitures program [...]

Technip has been awarded an engineering, procurement, installation and commissioning contract by PETRONAS Carigali Sdn Bhd (PCSB) for D18 Project. The project covers the procurement and installation of two 8” water injection flexible pipes totalling 9.5 kilometers. The flexible pipes will connect three fixed jacket platforms which form the existing [...]

DNV GL, the leading technical advisor to the global oil and gas industry, is building a new conference centre and large-scale fire and explosion demonstration area at their unique major hazard testing and research centre in Cumbria, UK. The new training facility, which will greatly enhance experiential learning for the [...]

Crude markets edged up but remained near 6.5-year lows on Tuesday, following a session that saw prices fall as much as 6% after a Chinese equities rout sent global markets into a tailspin.

EPA’s proposal for additional methane regulations on oil and gas wells and transmission are duplicative, costly, and undermine America’s competitiveness. The industry has already led the significant reduction in methane through innovation and existing regulations, according to API President and CEO Jack Gerard. “The oil and gas industry is leading [...]

Bechtel announced today it has been selected by Delfin LNG, a wholly-owned subsidiary of Fairwood Peninsula Energy Corporation, to perform front-end engineering and design for the first U.S.-based floating liquefied natural gas vessel (FLNGV) to go into service at Port Delfin.  Port Delfin is a proposed deepwater port and floating [...]

Statoil (OSE:STL, NYSE: STO) delivered adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. CEO Eldar Sætre commented: “In the second quarter, Statoil delivered [...]