Ukraine’s presidential election solves one problem – who is in charge. But how the country manages its gas security is another question all together and an unanswered one at that. Watch the video to find out more.
China Oilfield Services Ltd., which is drilling exploration wells in the disputed waters of the South China Sea, said it completed the first phase of operations and will go on to the next.
Platform HYSY981 has moved to “another location” to begin the second phase, the company known as COSL, said in a newsletter posted on its website today, without giving specifics. COSL started drilling in the area on May 2 and is expected to finish by mid-August, according to the statement.
Indian Prime Minister Narendra Modi appointed a former banker to oversee coal, power and clean- energy reforms in a move aimed at resolving fuel bottlenecks and chronic blackouts hampering economic growth.
Piyush Goyal was named minister of state for power, coal and renewable energy with independent charge, meaning he can take decisions without cabinet oversight, according to a government statement today. The 49-year-old chartered accountant and investment banker was treasurer of Modi’s Bharatiya Janata Party and served on the board of the State Bank of India, the nation’s largest bank, according to his website.
Chief Treasury Secretary Danny Alexander is the latest political heavyweight to be named as a speaker at trade body Oil and Gas UK (OGUK)’s first annual conference.
A privately held investment fund based in the Netherlands has seen revenue from its portfolio of companies in the north-east grow by 900% in three years.
A young Aberdeen company providing catering and facilities management support to the oil industry worldwide has landed a major new contract in Thailand worth £1million.
Former Rangers FC chairman Sir David Murray is moving into the oil and gas industry after his family investment firm snapped up a supply chain business.
Murray Metals – which is owned by Murray Capital, the private investment company of Sir David and his family – has competed the acquisition of Alphastrut.
Last night the firm said Alphastrut - with its lightweight alluminium – is set to revolutionise module construction in the oil and gas sector with a new support system.
It is already being used internationally to replace traditional steel support systems, and in everything from load-bearing raised-access floors to ceiling grids and bulkhead supports.
It was used in the building of BP’s Valhall oil rig living quarters, helping to save over 126 tonnes of weight. Alphastrut was also incorporated in the raised-access flooring and cable-management support systems for Clair Ridge, west of Shetland.
Turkey and Iraqi Kurds defended last week’s sale of more than 1 million barrels of Kurdish oil to world markets, dismissing Baghdad’s claim before an international court that the sale was unauthorized.
Turkey’s Energy Minister Taner Yildiz said yesterday that Iraq had agreed that Kurdish-held northern Iraq could export 100,000 barrels of oil a day and that Turkey didn’t violate agreements, state-run Anadolu agency reported today. The Kurdistan Regional Government, which controls the semi- autonomous Kurdish region in northern Iraq, dismissed Iraq’s May 23 claim before the International Chamber of Commerce’s International Court of Arbitration in Paris, and vowed in a statement yesterday to continue exporting oil.
The export of Kurdish crude through a pipeline controlled by the central government in Baghdad deepens the divide between Iraqi Kurds, who want to control oil and gas resources in the north, and the Baghdad government, which says all energy transactions require its approval. Turkey’s collaboration with Iraqi Kurds further complicates the issue, while straining ties with Baghdad.
Statoil ASA, the biggest seller of gas to Europe after Russia’s OAO Gazprom, said the continent’s stability in fuel supplies has improved in the last decade, even as tensions over Ukraine have raised concerns over disruptions.
North Atlantic Drilling (NADL) and Seadrill Limited have finalised an investment and co-operation agreement with Rosneft in a bid to capitalise on Russia’s onshore and offshore markets.
French energy industry service group Technip has strengthened its LNG portfolio in China.
The firm landed a contact with Fengzhen Wanjie Gas for a liquefied natural gas (LNG) plant in China.
Engineering firm Aubin said last night that it could transform subsea lifting after the successful completion of its first operational trial of its LiquiBuoy system.
Petroleos de Venezuela SA will receive a “pre-payment” of $2 billion for oil supplied to OAO Rosneft as South America’s biggest oil exporter seeks financing amid domestic shortages and the world’s fastest inflation.
Exxon Mobil Corp., operator of a $19 billion liquefied natural gas project in Papua New Guinea, is talking to customers in Asia about selling initial cargoes on the spot market as demand traditionally rises over summer.