RSS Oil & Gas News

(Image: Statoil headquarters in Norway)

Statoil sells stake in Shah Deniz to Petronas for USD 2.25 billion

Norway’s biggest energy company, Statoil has sold its remaining 15.5 percent stake in the Shah Deniz field in Azerbaijan for $2.25 billion to Malaysia’s Petroliam Nasional Berhad (Petronas). The transaction incorporates sales of the interest in the Shah Deniz production-sharing agreement, the share in the South Caucasus Pipeline Co. as well as its holding organization, [...]

The Proverbial Glass Ceiling that Limits Stilettos in the Male Dominated Oil and Gas Industry

The Proverbial Glass Ceiling that Limits Stilettos in the Male Dominated Oil and Gas Industry

The oil and gas industry has been traditionally tinted as an exclusive “boys’ club”. Statistics show that as much as 72 percent of oil and gas professionals are males, leaving an unbridgeable gap to the existing gender imbalance that needs a rapid and pragmatic solution. In a recent survey by BP and Rigzone, it was [...]

Kinder Morgan - Philadelphia Terminal

Kinder Morgan Slapped with a Class Action Lawsuit over Consolidation Plan

A Kinder Morgan Energy Partners LP shareholder has filed a class action lawsuit in Delaware Chancery Court on Friday to put the imminent $70 billion merger between Kinder Morgan Inc.’s limited partnership units to a halt. Lead petitioner Irwin Berlin said that under the tax structure of the KMI buy out of equity shares of [...]

Siemens Headquarters in Munich, Germany

Siemens Inks $7.6bn Deal with Dresser-Rand

Europe’s largest engineering conglomerate, Siemens has agreed to acquire Houston-based Dresser-Rand in a $7.6bn (£4.6bn) transaction which will help the German electronics giant to fire-up its oil and gas business in North America. The American firm manufactures oilfield supplies and equipments, and under the arrangement, it will turn into “the platform for oil and gas [...]

Shares of Sinopec were down around 6 percent in midday trading on Monday in Hong Kong.

China Sinopec Sells $17.4bn Retail Unit Stake in Privatisation Push

State-controlled oil giant, Sinopec Corp, on Sunday unveiled its plans to raise $17.4 billion by offering a stake in its nationwide chain of gas stations to outside investors, indicating the biggest privatization push since President Xi Jinping came to power around two years ago. Sinopec, China’s biggest Petroleum and Chemical Corporation, has arranged to offer [...]

Semi-submersible oil drilling rig

Shell Submits Revised Plan for Controversial Arctic Drilling

European oil giant Royal Dutch Shell PLC took its first step toward returning to explore in the Arctic. Shell spokesperson Megan Baldino said that on Thursday morning the oil and gas company filed a revised plan to the Bureau of Ocean Energy Management in Anchorage to explore the Chukchi Sea (BOEM, Bureau of Ocean Energy [...]

China Rongsheng Heavy Industries, is China’s largest private ship-building and petro-chemical engineering company.

Shipbuilder Rongsheng Heavy Industries Acquires 60% Stake in Kyrgyzstan’s Oilfields

China Rongsheng Heavy Industries, China’s largest private ship-building and petro-chemical engineering company, is now venturing into oil and gas exploration via HK$2.2 billion acquisition in Kyrgyzstan, it announced on Thursday. The Hong Kong-listed Jiangsu-based company revealed in a statement that it has, through a subsidiary, bought a 60 percent stake in New Continental Oil and [...]

Thunder Horse Oil Field

Mexico Reforms Law for Foreign Oil & Gas Investors

Mexican President Enrique Pena Nieto signed into law on Monday new rules legislating an opening of Mexico’s state-run oil, gas and energy industries to foreign and private owned businesses. Pena Nieto announced that the administration will give out more details to potential investors by Wednesday which blocks of gas and oil fields will be open [...]

(Image: Keystone Pipeline)

Study reveals Keystone XL pipeline’s potential carbon pollution much higher than previously estimated

According to a new study, the much-debated Keystone XL pipeline ports could have a much larger impact on greenhouse gas emissions than the State Department originally estimated. The study which was conducted by a non profit research organization, the Stockholm Environment Institute was published Sunday in the journal Nature Climate Change. It says the pipeline would [...]

The consolidated Kinder Morgan empire is set to have an estimated value of about $140 billion, which is $100 billion of market value and $40 billion of debt

Kinder Morgan to Consolidate Empire in $70B Mega-Deal

Houston billionaire Richard Kinder is disbanding his pipeline empire to fortify it for growth as the U.S. shale drilling boom opens up $1.5 trillion in potential projects. Kinder Morgan, which incorporates a gigantic network of oil and gas pipelines across North America, is set to acquire its three associated organizations and revamp as one organization situated in [...]

The deal between the two companies brings a new ray of hope for aviation industry that is currently seeking sustainable means to reduce global carbon footprints

Boeing, SA Airways Join Hands to Turn Tobacco into Jet Fuel

Biofuels created from organic sources, for example, plants and green algae could decrease carbon emissions to an extent of 80% in contrast to petroleum-based fuels. Boeing Co. is collaborating with state-owned South African Airways and Dutch aviation biofuels organization SkyNRG to create jet fuel from an entirely new kind of tobacco plant. The effort is [...]

The news broke out creating havoc, since it amounts to being the biggest slackening of the U.S. ban on oil exports since the ruling was passed in 1975

U.S. Condensate Export Put on Hold for Now, Sources Reveal

The  U.S. Department of Commerce has put on hold at least two companies’ appeal for authorization to trade on ultralight type of crude abroad, sufficiently stonewalling an industry push to  export a maddening surplus of oil in the midst of the U.S. shale revolution, sources reveal. Over a month ago in June, the Department of [...]

Grasmere Village, Lake District, Cumbria, England, UK

UK Begins Bidding for Fracking Licenses Today

The U.K is set to begin, the bidding process today, for the next set onshore oil and gas exploration licenses, including shale gas, a solution is viewed as a less expensive and more secure energy source. The details for the bidding are yet to be set out by the Department of Energy and Climate Change. [...]

Last year alone in Oklahoma, there were over a hundred earthquakes of magnitude greater than 3.0.

Fracking Wastewater in Oklahoma Triggers Earthquakes, study says

According to a new study conducted by top US universities, four wastewater wells in Oklahoma, where energy companies dump water following the completion of hydraulic fracturing process, has caused a series of earthquakes, some 30km from the site in the past five years. The report, published in Science magazine, wrapped up on the Midwestern state, [...]

Donald Tusk - the originator of an energy union

Energy Union – pipe dream or real possibility?

Energy dependence is nothing new. But the fact is that the results of it we can fully observe nowadays, just to mention the ongoing political and military struggle in Ukraine. Saying that Russia is fully responsible for the energy dependence of several countries such as Ukraine, Poland, Bulgaria and others is inappropriate at least. The [...]

Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) group.

Iraq crisis threatens world economic recovery

Military advances in Southern Iraq by Sunni Islamist anarchists, who took over two Iraqi cities earlier this week could disrupt oil supplies if Baghdad doesn’t re-establish its authority in next to no time. The increasing turmoil in Iraqi soil has induced growing concerns – high oil prices – compelling central banks to raise interest rates [...]

Image: Aerovironment Drone

If you’d like more oil fields and pipelines in Alaska, then you might love this

The U.S. Department of Transportation’s Federal Aviation Administration took a giant step on Tuesday by easing restrictions on commercial unmanned aircraft systems (UAS) use over land and water in the U.S. Of all companies, oil company British Petroleum and its drone partner AeroVironment have secured the approval to fly an AeroVironment Puma AE for aerial surveys over Prudhoe Bay oil operations in Alaska (which [...]

EPA Pollution reductions will prevent 2000 premature deaths

EPA adopts tougher pollution rule to lower sulfur limits in fuel

The U.S. Environmental Protection Agency (EPA) on Monday has finalized the new Tier 3 vehicle emission standards for cars and gasoline that the agency claims will significantly reduce harmful pollution, improve public health and prevent thousands of premature deaths and illnesses and create a cleaner environment, all by reducing the amount of sulfur that’s released into [...]

Algae about to be turned into oil

Researchers turn algae into crude oil in less than an hour

Researchers at the the Department of Energy’s Pacific Northwest National Laboratory Pacific Northwest National Laboratory can spin algae into oil. A biofuels company, Utah-based Genifuel Corp., has licensed the technology and is collaborating with an industrial partner to create a pilot plant using the technology.