LOCATION :Home> Industry News

Tendeka inks agreement to supply intelligent well technology in China

ABERDEEN, United Kingdom -- Tendeka has entered an exclusive strategic agreement with Beijing Wallgate Information Technology to deliver digital oilfield capabilities to key operators in China. The agreement will see Tendekas intelligent we......【More】

2014-09-28

Statoil postpones Canadian oil sands project

STAVANGER, Norway -- Statoil has decided to postpone the previously planned Corner field development at the Kai Kos Dehseh oil sands project in Alberta, Canada. Despite the improvements made in the Corner business case, we have decided not......【More】

2014-09-26

Russian oil billionaire Evtushenkov offers $7.9 million bail

MOSCOW (Bloomberg) -- Russian oil and telecommunications billionaire Vladimir Evtushenkov, who is under house arrest on charges of money laundering, offered to post bail of 300 million rubles ($7.9 million), Judge Yuri Pasyunin said. Moscow......【More】

2014-09-25

Tight oil technology in the U.S. could add 3 MMbpd by 2030

HOUSTON --- Tight oil production in the U.S. will surpass expectations and additional volumes from enhanced oil recovery (EOR) tactics could add as much as 1.5 to 3.0 MMbpd by 2030, according to analysis from Wood Mackanzie. Growth in US ti......【More】

2014-09-24

Rockefeller oil heirs’ fund to sell fossil-fuel investments

NEW YORK (Bloomberg) -- The Rockefeller Brothers Fund, built with profits from Standard Oil Co., is selling investments in coal and tar sands producers in a move to pressure companies that are contributing to climate change. The fund, found......【More】

2014-09-23

Exxon gets U.S. sanctions reprieve to shut Arctic oil well

IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. said the U.S. government is giving the company more time to shut its Russian Arctic well beyond the deadline for sanctions aimed at halting the $700 million project. Exxon asked Washington for......【More】

2014-09-22

AWE, Origin Energy in major gas find in Western Australia

SYDNEY -- AWE Limited, as operator of the L1/L2 JV, has announced initial Contingent Resource estimates for the Waitsia discovery (formerly Senecio Deep) in the north Perth basin, Australia. The news follows the recently announced upgrade o......【More】

2014-09-19

WTI crude falls from 2-week high as U.S. inventories rise

NEW YORK (Bloomberg) -- West Texas Intermediate crude fell from a two-week high after an Energy Information Administration report showed U.S. inventories rose the most in five months. Supplies gained 3.67 MMbbl barrels in the seven days end......【More】

2014-09-18

OPEC may supply less crude in 2015, Secretary General says

ALEXANDER WEBER and GRANT SMITH VIENNA, Austria (Bloomberg) -- OPEC may cut production next year, its Secretary-General Abdalla El-Badri said. The Organization of Petroleum Exporting Countries output target could fall 500,000 bpd to 29.5 MM......【More】

2014-09-17

Weatherford awarded Statoil tubular running services contract

HOUSTON -- Weatherford International has been awarded an exclusive contract with Statoil Petroleum AS valued at $400 million for the delivery of Tubular Running Services on 19 drilling units in Statoils portfolio. This contract has a base p......【More】

2014-09-16