More Oil & Gas Exploration and Development News

New API standards cover offshore drilling, production structures

Nov 17, 2014

The American Petroleum Institute published five new recommended practices (RPs) for the design, construction, and maintenance of structures used in offshore oil and gas drilling and production.

Gas price uncertainty could defer projects, Niko says

Nov 17, 2014

Niko Resources Ltd., Calgary, says uncertainty regarding natural gas price premiums in India could cause deferral of development of certain discoveries.

Oil sands 2014-38 outlay to top $514 billion

Nov 17, 2014

Total investment in Canadian oil sands projects during 2014-38 will exceed $514 billion (2013 Can.), according to the Canadian Energy Research Institute (CERI).

Investors await Mexico's Round One bid terms

Nov 17, 2014

Investors and oil companies expect Mexico to release bid terms soon for its upstream bid round, Mayer Brown energy partner Dallas Parker and associate Gabriel Salinas said in a recent interview with Oil & Gas Journal.

What's sustainable?

Nov 17, 2014

Sustainability is eternally important and perpetually enigmatic. It's like justice: widely seen as embodying transcendent value yet defined in disparate ways.

More climate leaders

Nov 17, 2014

Presidents Barack Obama of the US and Xi Jinping of China asserted international leadership in the politics of climate change by announcing on Nov. 12 new targets for cuts in their countries' emissions of greenhouse gases.

Obama determined to let Keystone XL review process 'play out'

Nov 17, 2014

US President Barack Obama reiterated his stance on Nov. 5 that the proposed Keystone XL crude oil pipeline's ongoing cross-border permit review process should be allowed to proceed amid suggestions that Republicans winning majority control of the Senate in elections a day earlier opens the way for congressional legislation on the matter to reach his desk.

PwC: US oil, gas transaction value hits 10-year high in 3Q

Nov 17, 2014

Driven by a rise in billion-dollar deals, midstream activity, and interest in upstream shale plays from foreign buyers, mergers and acquisitions in the US oil and gas industry reached the highest levels in the past decade during the third quarter, according to a quarterly report from PwC US Energy Practice.

Watching Government: Considering the 2014 elections

Nov 17, 2014

Not a whole lot changed for US oil and gas in the 2014 elections despite Republicans regaining majority control of the Senate and increasing their number of governorships.

Mexico moving quickly to implement energy reforms, officials report

Nov 14, 2014

Mexico is moving quickly to implement its aggressive energy reforms, two officials of its government told a conference at the Woodrow Wilson International Center for Scholars. “My office has a very tight schedule where we’ll publish all the terms for the first shared contracts by the end of this month, and into next year,” said Maria de Lourdes Melgar Palacios, hydrocarbons undersecretary in the country’s hydrocarbons secretariat.

Statoil exits two Northern Territory permits

Nov 14, 2014

Norway’s Statoil AS has pulled out of two exploration permits in the southern Georgina basin onshore Northern Territory.

Norske Shell finds gas with Ormen Lange appraisal well

Nov 14, 2014

Norske Shell found a 28-m gas column with an appraisal well in Ormen Lange field, the Norwegian Petroleum Directorate reported.

BP Egypt, partners to invest $240 million in Egyptian blocks

Nov 13, 2014

BP Egypt and its partners have committed to investing $240 million in two exploration blocks awarded by Egyptian Natural Gas Holding Co. (Egas) in its 2013 bid round.

Eco Atlantic completes 3D seismic survey offshore Namibia

Nov 13, 2014

Eco (Atlantic) Oil & Gas Ltd. has completed 1,097 sq km 3D seismic work on its Cooper block in the Walvis basin offshore Namibia. PGS Geohysical Ltd. (PGS) shot the survey and is now in the processing stage.

Tullow cuts exploration budget amid falling oil prices

Nov 13, 2014

Falling crude oil spot prices have caused South Africa’s Tullow Oil PLC to cut its 2015 exploration and appraisal budget to about $300 million, placing more emphasis on development and production assets.

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