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BP and Devon Energy in $7bn Brazil deal

BP today announced a deal that will grant them a material exploration position in the deepwater offshore Brazil and significantly enhance its position in several strategic areas

PetroChina joins Shell in Arrow Energy bid

Royal Dutch Shell and PetroChina have come together to launch a takeover bid of Australian Liquefied Natural Gas group Arrow Energy

Two day Oil price jump ends with fall to $80 a barrel

Oil prices fell to near $80 a barrel today in Asia following a two day jump in price fueled by investor optimism that global demand for crude is recovering

Clinton says U.S. “ready to help” resolve Falklands oil dispute

U.S. Secretary of State Hillary Clinton has said the U.S. is ready to help Britain and Argentina resolve their dispute over oil rights around the Falkland Islands

Repsol to begin drilling for oil near Falkland Islands

Spanish oil company Repsol has announced plans to drill for oil in Falklands territorial waters, as Argentina continues to protest its sovereignty over the area

Centrica to buy Suncor’s Trinidad and Tobago gas assets

Centrica, the parent company of British Gas, has signed an agreement to acquire equity interests in Suncor’s Trinidadian gas blocks

Qatar Petroleum and ExxonMobil announce start of operations of AKG-2

Qatar Petroleum and ExxonMobil have announced that the Al Khaleej Gas-Phase 2 (AKG-2) project, with 1,250 million cubic feet per day (mcfd) of sales gas capacity, initiated operations in December 2009

Oil prices soar to six-week high

The price of oil is at a six-week high in the face of a weakening dollar

Husky Energy CEO to retire, expected to run Asia business

The CEO of Husky Energy, Canada’s second-largest oil producer and refiner, plans to step down and take leadership of the company’s Asian business

ConocoPhillips, BP America quit climate coalition

The oil companies said the bill under consideration did not attach enough importance to natural gas, which they promote as a way to curb carbon emissions blamed for global warming

Stan Miroshnik appointed EVP Strategy and Business Development at TNK-BP

TNK-BP is Russia’s third largest oil company, owned by BP and AAR (Alfa, Access Renova). It also owns close to 50 percent of Russian oil and gas company, Slavneft.

Devon Energy’s restructuring begins to pay off

Company reports a fourth-quarter profit that was way above market expectations

Devon’s Bridgeport natural gas processing plant is one of the largest in the U.S.

OSD Pipeline expands operations to New Zealand

The New Plymouth location will answer local demand for specialized asset services

OSD Pipeline has expanded its service to New Zealand.

Kleen Energy gas power plant explosion in Connecticut

Number of casualties is expected to rise as emergency personnel search through rubble

Snoke rises from the Kleen Energy gas plant explosion on Sunday. (AP photo)

Falck Nutec purchases minority share in P.T. Samson Tiara

Active in the oil & gas and petrochemical fields, the two companies will team up for safety and training services in Indonesia

Falck Nutec has purchased a minority share in P.T. Samson Tiara.

Halliburton: North American drilling market to improve in 2010

The oilfield services giant posted a 12 percent revenue increase; is less optimistic of international market

Halliburton predicts an upswing in the North American drilling market.

US Energy Secretary Chu supports fracking process for natural gas

Despite pollution debate, Chu believes working with EPA will ensure overall environmental safety

US Energy Secretary Steven Chu (AP photo)

Northern Petroleum LLC conducts 3D seismic survey in West Sicily Thrust Belt

The program is partially funded by Shell Italia E&P and will verify the prospects for drilling

Northern Petroleum conducts 3D seismic survey in West Sicily Thrust Belt.

Suroco Energy Inc. and Thorneloe Energy Sucursal Columbia enter agreement

The option allows Suroco to purchase 28 percent undivided working interest in Llano Block 33

Suroco Energy Inc. and Thorneloe Energy Sucursal Columbia have entered an agreement for a Columbian site.

Dana Gas makes ninth discovery at Orchid-1 well

The Egypt site has tested dry gas at a rate of 12.6 million standard cubic feet per day

Dana Gas has made its ninth gas discovery in Egypt at its Orchid-1 well.

Russia and Ukraine sign new oil agreement

The deal was reached after comments from Putin threatened disruption

Russia and Ukraine reach agreement in gas supply dispute

Bengal Energy Ltd. to purchase 100 percent interest in block in Australia’s Cooper Basin

Wholly-owned subsidiary, Avery Resources Pty Ltd., will oversee the acquisition

Bengal Energy Ltd. will purchase 100 percent interest in land block in Australia's Cooper Basin.

Offshore West Africa scheduled for March 2010 in Ghana

The conference will address the nation’s growing offshore exploration activity

Offshore West Africa is scheduled for March 2010 in Ghana.

Tokyo Electric Power Company & Chevron finalize LNG contract for Wheatstone Project

The Heads of Agreement between TEPC and Chevron’s Australian branch to last decades

Tokyo Electric Power Company and Chevron Australia have signed an LNG contract for the Wheatstone Project.

US crude oil production could see largest increase in four decades, says Platts analysis

A recent report indicates 2009 is on track for the highest output since 1970

US crude oil production could see the largest increase since 1970.

OPEC to discuss stabilizing global oil markets at December Angola meeting

Algiers and Venezuela continue to work closely in the oil production industry

OPEC will discuss stabilizing global oil markets at the December Angola meeting.

Devon Energy Corporation to restructure as high-growth onshore firm

The leading North American oil and gas producer expects divestitures will generate after-tax proceeds of $4.5 billion to $7.5 billion

Devon Energy Corporation will restructure itself as a high-growth North American onshore firm.

Gas sands discovered in Cameroon by Victoria Oil & Gas

The UK-based oil and gas explorer’s shares rose Monday on the London Stock Exchange

Victoria Oil & Gas has discovered gas sands at its Logbaba site in Cameroon.

Iran needs $40B to develop remainder of South Pars

Pars Oil and Gas Co. is working on the largest gas field in the world

Iran needs $40B to develop the last leg of South Pars.

ConocoPhillips considers North American and North Sea property sales

CEO Jim Mulva says ‘shrink to grow’ move is in response to the global recession and fewer reserve finds

Bankrupt Triad Energy Corp assets to be purchased by Magnum Hunter Resources Corp

Magnum Hunter Resources Corp is buying all the Texas company's oil and gas exploration and production

Magnum Hunter Resources Corp will be purchasing assets from Texas-based Triad Energy Corp.

GE Oil & Gas wins contract for Gorgon project

GE will meet LNG production and CO2 sequestration needs for one of the world’s largest natural gas projects

San Leon Energy and Island Oil & Gas consider merger

The move would provide resources to develop Island’s Celtic Sea assets

By merging, Island Oil & Gas and San Leon Energy could create an Irish-based oil and gas exploration business.

Flight powered by fuel from natural gas

Qatar Airways makes historic journey from London Gatwick to Doha...

Oil prices at six week high

Optimism about economic recovery and indications of stronger oil demand leads to oil prices above $73…

Faroe Petroleum Tornado prospect drilling begins

OMV (UK) Ltd is overseeing drilling with the Stena Carron drillship

Drilling has begun in the Tornado prospect, located in the Shetlands Islands off the coast of Scotland.

SGS Exhibits at the 8th Vietnam Saigon Oil and Gas Expo

Visit the SGS Industrial Services Stand no. B2-1, Hall A1, at the 8th Vietnam Saigon Oil and Gas Expo 2009, from October 29-31, 2009...

Angola LNG export projected for 2012

Under development, Angola’s plant will create competition with Nigeria as Africa’s top oil producer

Angola's first LNG plant is expected to begin exporting in 2012.

Chevron Australia and Korea Gas Corp. reach LNG agreement

Chevron expects to expand its Gorgon project offerings to more clients

Chevron Australia and Korea Gas Corp. have reached an LNG agreement.

Variable oil and gas rates under consideration by US Interior Department

Royalties could be updated this year to reflect level of difficulty in drilling for resources

US Interior Secretary Ken Salazar. (Courtesy of The Department of the Interior)

BP finds major resource in Gulf of Mexico

Company’s well is one of the deepest drilled in the oil and gas industry

BP Plc has made a major oil discovery in the Gulf of Mexico.

Bidding for Oman steam oil project opened

Petroleum Development Oman is aiming to complete the upgrade in 2012

Bids are being accepted for one of Oman's largest enhanced oil recovery projects.

Hindustan Petroleum on track for Euro III fuel at refineries

The Indian company will offer the high-quality petrol early next year

Hindustan Petroleum Corp will have Euro III fuel at both its refineries next year.

Crown Oil and Gas identifies Russian drill targets

The European company will continue its seismic analysis on several other leads

Crown Oil and Gas has identified two drilling targets in Sartov, Russia, with five more leads to explore.

Origin Energy has 20 percent rise in annual profit

The Australian company is partnered with ConocoPhillips on an LNG project

Origin Energy Ltd has seen a 20 percent increase in its full-year underlying profit.

ExxonMobil and PetroChina enter into long-term contract

Australia’s Gorgon project to provide natural gas to China for next 20 years

ExxonMobil and PetroChina have entered into a 20-year agreement for liquefied natural gas.

Chevron’s new drillship begins work in Gulf of Mexico

The Discoverer Clear Leader’s capabilities far surpass previous technology

Chevron's new drillship has begun looking for oil in the Gulf of Mexico.

Venezuela aims for Carabobo oil auction in 2009

Chevron Corp., Royal Dutch Shell PLC and other major companies have expressed interest

The Venezuelan government is planning to hold the Carabobo oil auction before year's end.

Rentech’s synthetic jet fuel is certified for commercial aviation

The fuel blend meets ASTM International’s specifications and FAA standards

Rentech's synthetic jet fuel will be used in commercial aviation and in US Air Force aircraft.

Crude oil improves toward $67 a barrel

Analysts see the weakened market acting counter to its supply and demand fundamentals

Crude oil had a positive turnaround on the exchange Thursday.

Foster Wheeler to perform FEED for Santos’ GLNG Upstream Project

The front-end engineering design contract is for coal-steam gas extraction in Queensland, Australia

Foster Wheeler has been awarded a FEED contract with Santos Ltd. for its GLNG Upstream Project.

European Commission calls for more transparency on EU energy infrastructure investments

The new measure is expected to be adopted early next year and will aid in long-term development

The European Union is expected to have a new regulation in 2010 that requires more transparency on energy infrastructure investments.

OPEC predicts world oil demand will grow in 2010

The global rebound is not expected to reach OECD countries

The global oil demand is expected to grow in 2010.

British Gas to create 2,600 “green” jobs to roll out smart meters

BG to open Energy Academy to train engineers

Americans acknowledge need for more energy, survey finds

Most underestimate role of oil, natural gas in future energy mix

Petrobras sells 25% stake to Vale

Brazilian miner to buy stakes in 3 offshore oil blocks

Manitoba called “best bet” for oil and gas investment

Alberta continues to lose ground due to misguided government policies, says Fraser Institute

Newfoundland hits oil jackpot

Deal to expand Hibernia oilfield expected to bring $10 billion to province’s revenues

Brazil’s Petrobras confirms Tupi’s billion barrel potential

New oil source could hold 5 to 8 billion barrels of light oil

Shell to restructure under new CEO

Supermajor hoping to cut costs and avoid project delays

Report: transitioning to ‘green’ oil would cost $105 a barrel

CCS most cost effective technology in cutting CO2 in Canada’s oilsands, report says

MeettheBoss creates platform for energy execs

New networking site launched to help oil and gas execs “unite in unreliable climate”

TransCanada wins contract to build gas pipeline in Mexico

Proposed 310 km pipeline will transport LNG from terminal on Pacific Coast

GE Oil & Gas consolidates operating company brands

VetcoGray, Hydril Pressure Control and PII company brands fully integrated within GE Oil & Gas

Oil and gas execs say US energy independence not possible by 2030

KPMG: Coal to be the biggest loser under Obama, execs say

TransCanada reports $334M net income

$19B in projects currently underway

Exxon reports 58% plunge in Q1

Drop in energy demand and fuel prices to blame

Atlas America and Atlas Energy announce merger

New company to focus on natural gas development in Appalachian Basin

Suncor reports second straight loss

Performance result of current economic conditions, Suncor says

Husky plans spinoff of Southeast Asian assets

Company hoping to boost share value

OPEC says oil demand falling

Calls for “vigilant monitoring”— will reassess market at meeting next month

Inter Pipeline to invest $72 million to expand oil delivery

Expansion project on Bow River Pipeline System will ship segregated crude to Montana

IEA revises oil demand forecast

Crude oil demand to drop further predicts IEA

Gazprom, Shell sign LNG supply agreements

Miller: oil, gas markets have shown signs of “demand growth”

Gazprom and Royal Dutch Shell signed supply agreements

Origin and ConocoPhillips to invest $24.6 billion in Australian LNG project

Project declared ‘significant’ by Aussie government

Origin and ConocoPhillips invest in Australian LNG project

Gazprom buys 20 percent stake in Eni SpA’s oil arm

Italian PM calls deal a “strategic energy partnership”

Gazprom buys 20 percent stake in Gazprom Neft

Total inaugurates new LNG project in Qatar

New terminal will supply 20 percent of the U.K.’s gas needs, PM says

Gazprom signs agreement to study oil blocks in Nigeria

Russian company expected to sign $2.5 billion exploration deal

Pipeline politics

Nabucco still a priority for E.U.

PetroChina looks for approval to issue up to $14.6 billion worth of bonds

Net profit drops 22 percent in 2008

BG wins control of Pure Energy

Move boosts BG’s gas assets

Brazil officially invited to join OPEC, reports

Brazil to develop sub-salt oil reserves

The Petrocan-Suncor deal: The new Canadian energy giant

Energy executives might want to ask which oil and gas companies will be next

Suncor to buy Petro-Canada

Oil and gas rivals merge to create Canada’s largest energy company

Southern Pacific to acquire Saxony Petroleum

Deal will boost Southern Pacific’s production

Calls to avert dramatic fall in North Sea exploration

Oil leaders call for tax relief to keep North Sea exploration competitive

Libya’s oil firm eyeing Verenex Energy

State-owned oil company said would match China National Petroleum's offer

Fossil fuels part of energy mix, minister

Saudi Arabia cautions against shift to renewable energy

Chevron steps up development efforts

Despite economic slowdown, Chevron to ramp up oil production in anticipation of increased demand

To cut or not to cut?

All eyes on weekend OPEC meeting as 12-member cartel could cut production

Global oil demand to drop, International Energy Agency

Revised forecast for 2009

Lots in reserve, says British Petroleum

Oil giant says it has been able to build its reserves faster than produce output for 15 straight years

Russia, Hungary create joint venture on South Stream pipeline

Hungary looking to secure natural gas supplies

Oil prices increasing amid speculation OPEC will announce output cut

Fourth cut in production expected

Scottish and Southern to slash energy prices

Scottish and Southern Energy said on Friday it would slash electricity and gas prices as wholesale costs stay lower.

BG fourth-quarter net profit up 25 percent

Gas producer BG Group said net profit rose sharply and beat forecasts in the fourth quarter, and gave a buoyant outlook for future growth, lifting its shares over 8 percent.

BG Group Chief Financial Officer Ashley Almanza is seen in this undated handout photo. REUTERS/Vismedia/Handout

BP profit falls on lower oil price and Russia loss

BP missed analysts' forecasts with a 24 percent drop in fourth-quarter replacement cost net profit to $2.59 billion (1.82 billion pounds), due to a collapse in oil prices and a big loss at its Russian unit.

Union and Shell continue U.S. refinery talks

Talks for a new contract covering 24,000 U.S. refinery and chemical plant workers were "making good progress," a United Steelworkers union spokeswoman said on Monday.

A sign for a Shell petrol station is seen reflected in a car's wing mirror in London October 28, 2008. REUTERS/Toby Melville

Riksch BioFuels: Sustainable Advocate

Riksch BioFuels of Iowa is producing a high-grade biodiesel fuel for consumption in the Midwest.

Oil pauses above $43

Oil prices rose 2 percent on Tuesday, reversing day-ago losses as traders focused on short-term factors such as cold U.S. weather and an Australian cyclone, despite forecasts of a further rise in U.S. crude stocks.

An employee fills a vehicle at a gas station in Hefei, Anhui province, China January 1, 2009. REUTERS/Jianan Yu

Conoco cutting 4 percent of workforce

ConocoPhillips , citing a steep decline in oil and gas prices, said on Friday it will slash its capital spending 38 percent this year and cut about 1,300 jobs at the third-largest U.S. oil company.

A Conoco Phillips gas station in Boulder, Colorado, January 24, 2007. REUTERS/Rick Wilking

World oil demand to drop sharply in 2009

World oil demand will contract sharply in 2009 as global economic slowdown further erodes consumption, the International Energy Agency (IEA) said on Friday.

A woman fills petrol into her car at a filling station in Puchheim westward of Munich December 12, 2008. REUTERS/Michaela Rehle

UBS sells its base metals, oil, U.S. energy to Barclays

Swiss bank UBS said on Friday that it has signed an agreement with Barclays on the further sale of parts of its non-strategic commodities businesses.

Amec sees 2008 profit toward top end of forecasts

Oil services and engineering group Amec said business was holding up well despite the economic downturn as it forecast 2008 profit would top 200 million pounds and a better 2009.

Conoco may take fourth-quarter writedown for Lukoil: analysts

U.S. analysts said on Tuesday that ConocoPhillips may need to take a big write-down in the fourth quarter related to its investment in Russian oil major Lukoil , as weakness in the crude oil market and other factors sap the value of the venture.

Jim Mulva, chairman and CEO of ConocoPhillips, speaks to Reuters in New York October 25, 2007. REUTERS/Brendan McDermid

Petrol prices edge up to end six-month fall

Retail petrol and diesel prices rose slightly this week, ending a six-month decline, the Automobile Association (AA) said on Friday.

Drivers queue for petrol at a service station in Boroughbridge, northern England, June 13, 2008. REUTERS/Nigel Roddis

BP finalises deal with TNK-BP partners

BP made a new concession to its oligarch partners in Russia's third-largest oil company, TNK-BP, as it sealed an agreement aimed at settling a battle for control of the venture.

A sign for a BP petrol station is seen in London October 28, 2008. REUTERS/Toby Melville

Chevron sees major drop in 4th-quarter earnings

Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower energy prices on its exploration and production business.

A Chevron Corporation gasoline tank truck delivers gas to a Chevron service station in Redondo Beach, California August 10, 2005. REUTERS/Fred Prouser

BP shares down on rumour guiding lower on earnings

Shares in BP fell 4 percent on Wednesday as the oil major was, yet again, dogged by rumours it told analysts earnings would be lower than expected.

A British Petroleum (BP) sign is seen at a petrol station in south London July 29, 2008. REUTERS/Dylan Martinez

Oil surges over 3 percent on Gaza and gas row

Oil was steady above $48 on Tuesday after rising 5 percent overnight, as Israel's deepening incursion into Gaza and a spat between Russia and Ukraine over gas prices stoked fears of severe supply disruptions.

A petrol station employee fills the tank of a car near a price board in Nanjing, Jiangsu province December 19, 2008. REUTERS/Sean Yong

Russia gas row disruption spreads

Ukraine's state energy company Naftogaz said on Tuesday that Russia's Gazprom had cut gas supply to Europe via Ukraine to around a third of its normal flow and that the shortage would hit Europe in a few hours.

A worker checks the valve gears in a natural gas control centre of Turkey's Petroleum and Pipeline Corporation, 35 km (22 miles) west of Ankara, January 5, 2009. REUTERS/Umit Bektas

EU says gas supply commitments must be honoured

The European Union called on Friday for an immediate resumption of full deliveries of Russian gas to EU member states, saying supply and transit commitments had to be honoured under all circumstances.

A meter shows the gas pressure in pipelines at oil and gas group MOL's gas transmission subsidiary in Vecses January 2, 2009. Pressure on Hungary's natural gas pipeline that ships Russian gas via Ukraine has dropped but it is not causing any disruption in gas supply, oil and gas firm MOL said on Friday. REUTERS/Karoly Arvai

Gasoline prices fall to lowest since February 2004

The average price for a gallon of gasoline in the United States fell 5 percent from two weeks earlier, hitting its lowest level since February 2004, according to the nationwide Lundberg survey released on Sunday.

A customer pumps gasoline on Manhattan's lower east side in New York October 23, 2005. REUTERS/Keith Bedford

Marathon Oil Corp announces sale of Irish subsidiary

Marathon Oil Corp has sold its interests in Marathon Oil Ireland for 126 million euros ($180 million) to Star Energy Group.

Great Gas Petroleum signs new forecourt deals

The Irish-owned independent fuel supplier, Great Gas Petroleum, has announced that it is to sign four new forecourts to its portfolio.

Providence, Star Energy launch Ulysses JV

Providence Resources plc has announced the commencement of its Ulysses Project, a joint venture with Star Energy Group plc.

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