International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
international oil companies
The Lebanese Cabinet has approved new conditions for international oil companies to bid in the upcoming licensing round for gas exploration blocks in the Lebanese sector of the Eastern Mediterranean.
North Sea health and safety experts are working in Iraq to help the country recover from war.
Ten years ago, North Sea people viewed the Middle East as an onshore play with some shallow offshore tacked on. On the face of it this was not a target market for UK companies and technologies honed in north-west Europe's hostile maritime environment.
As an investor you weigh up risks and potential returns, trying to eliminate or limit the unknowns and one of the biggest issues with investing is political risk.
This week's World Heavy Oil Congress in Aberdeen is the latest in a biennial series.
Beijing-based Sinopec chairman Fu Chengyu became the first head of an Asia-based company to earn the distinction of his peers as Petroleum Executive of the Year, earlier this year.
Oil and gas engineering consultant Magma Products said yesterday it had landed North Sea projects with a potential value of £15million.
IN JANUARY 2009, Heritage Oil, in partnership with Tullow Oil, announced that exploration on concessions in the Lake Albert Basin in Uganda held over 2billion barrels in reserves, far exceeding the commercial viability threshold.
Research consultant Wood Mackenzie (WoodMac) has dispelled talk that oil and gas is a "sunset industry".
THE Iraqi Oil Ministry has pre-qualified 41 IOCs (international oil companies) to bid in Iraq's next upstream licence bidding round, which will focus on exploration acreage.
UK company Stingray Geophysical has been snapped up by TGS-Nopec Geophysical of Norway.
International engineering and project-management company Amec said yesterday it planned to add about 100 people to its Aberdeen-based workforce in the next few months.
Large acquisitions could be on the cards at Amec, which announced a 30% surge in annual profits yesterday.
Fast-growing Aberdeen oil service company qedi has been acquired by international engineering and project management company Amec in a deal worth up to £33million.
It's been a colourful and action-packed time in oil and gas. The ongoing saga between Tullow Oil and the Ugandan government over tax continues to raise eyebrows while Cairn's oil discovery in Greenland has caused a stir. Then there's the prospect of the largest share deal yet - the $67billion equity issue by Petrobras in Brazil.
PETROFAC Training Services (PTS) has become the first provider in the world to be approved for the new Opito-recognised major emergency management initial response course.
Investment is being slashed by tens of billions of dollars across the oil&gas sector, largely as a result of the precipitous drop in prices since July, 2008. Global upstream budgets are falling for the first time in 10 years, according to the International Energy Agency.
Broker Evolution Securities believes that a downturn for oil service companies is inevitable, but it will be short and sharp, and that recovery is likely to be equally rapid and certainly apparent in 12 months.
The landscape in which companies execute major capital investment oil&gas projects has changed since the 1960s North Sea and Gulf of Mexico booms.
TWO new purchasers have joined FPAL, the driving force behind supplier selection in the North Sea.