Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, has unveiled plans for the next stage of its flagship BNG asset. The BNG Contract Area is located in the west of Kazakhstan, near Tengiz on the edge of the Mangistau Oblast. Roxi has a 58.4% stake.
The global crude-oil market will return to balance in the second half of this year from an oversupply of 2million barrels a day that has caused prices to plummet, Opec Secretary-General Abdalla El-Badri has said. Speaking at a conference in Manama, Bahrain, Mr El-Badri said demand in 2014 was weaker than expected “at just below 1million barrels a day” and will rise by 1.2million barrels a day this year.
Amec Foster Wheeler has launched a consultation with its staff in the north-east that is expected to lead to an unspecified number of job cuts. The oil services firm, which employs about 3,000 in the region, said it aims to “mitigate the impact” of the fall in oil price through cost cuts but also pledged to relocate staff who will be affected by the move. The firm, which recently completed a merger with rival Foster Wheeler, was one of the first major oil services groups to cut contractor rates last year.
A leading politician has intervened in an effort to prevent the European Commission from limiting emissions from the UK's oil and gas industry. The commission has proposed the medium-sized combustion plant directive, which would limit the emissions produced by medium-sized engines and generators - integral to every offshore oil platform.
Millions of pounds of funding is available to support innovations which offer cleaner, low-cost and more efficient conventional fuels. Innovate UK is offering £6million to new technologies that increase efficiency, reduce the cost and minimise the environmental impact of coal, natural gas and oil.
Egypt aims to pay its $3.1 billion debt to international oil and gas companies a year later than previously indicated, according to the Egyptian oil ministry. The ministry said: "All current operational payments hae been made on time and are on track to repay any remaining arrears before mid-2016." It is expected that the debt will be repaid by the middle of 2016, a year ahead of the previously indicated mid-2015.
An oil and gas technology body will offer companies the chance to suggest solutions for cutting oil and gas production costs whilst nurturing production in Aberdeen next month. The Industry Technology Facilitator (ITF) will ask oil and gas firms to present innovative solutions at the Technology Showcase being held at the AECC on March 4. In partnership with Oil and Gas UK, the ITF will discuss present tech challenges in the UK continental shelf and offer them a chance to showcase their technologies. Among the presentations at the event will be "PETMiner: Increasing the speed and cutting the costs of reservoir characterisation" by University of Leeds professor, Quentin Fisher.
One of Norway's biggest oil and gas companies has submitted plans for the second phase of their Brazilian offshore project. Statoil, in partnership with Sinochem, submitted a plan of development to the South American's country's National Agency of Petroleum, Natural Gas and Biofuels (ANP) in Rio de Janeiro on January 30.
The most read story this week on the Energy Voice website was on a call made by the boss of one of the world's largest energy services firms for the oil and gas sector to "reinvent" itself.
A US temporary power supply company has signed 106 megawatt of contract extensions in Sub-Saharan Africa. Florida-based APR Energy's Morro Bento plant, in Angola, has been operating since November 2012 and provides crucial base load power to the country's capital city, Luanda.
An Australian oil and gas firm has applied to the US government to export huge amounts of gas to North America. Liquified Natural Gas Limited today filed the application to the US Department of Energy through its subsidiary company, Bear Head - which is made up of both Bear Head LNG Corporation and Bear Head LNG (USA). Their request is for the export of around 440 billion cubic feet of American natural gas to Canada and around eight million tonnes of liquified natural gas (LNG) from Canada to other countries.
An Aberdeen-based oil and gas company's US branch will work with one of the world's largest petrochemical companies during their multi-billion dollar Texas expansion. Wood Group's Mustang's Automation and Control business unit is providing process control systems, detailed engineering, procurement and fabrications services for the huge project by ExxonMobil Chemical Company.
One of the top positions at an Aberdeen-based oil and gas company has been filled by a worker with around 40 years experience in the industry. Dave Stewart has landed the role of chief executive officer at Wood Group PSN and will begin in the role in April 2015.
A car manufacturer and an aerospace research and development body are amongst those joining forces with the oil and gas industry at a north-east technology conference and exhibition next month.
An American multinational corporation has today announced the £5million sale of its subsidiary petroleum company. The Texas-based Bayside Corporation has sold the Bayside Petroleum Company to Technis Energy.
An Australian energy company has announced the discovery of oil in a well in the south of the country.
An Australian oil and gas company has completed the construction of its 28-mile Dingo pipeline. Central Petroleum Limited (CPL) made the announcement today as they begin a hydro-testing programme.
An oil and gas firm have been given extensions to three of their Danish projects. New World Oil and Gas Plc have been granted extensions to work programme commitment deadlines on their three Danica Jutland and Danica Resources Limited licences. This will allow for them to propose more technical work to further eliminate the risks of prospects at the spots, located in south-east and south-west Denmark.
The acting chief executive of Molopo Energy has stepped down after four months in charge. Don Engle first took up the role last September and recently completed the sale of the Fiesta asset and helped the new board with corporate procedural matters.
The UK's shadow energy minister recently visited Centrica Energy and Bibby Offshore to discuss the future of the oil and gas industry. Tom Greatrex MP visit Centrica's Aberdeen offics to find out more about how the company's developments on the UK Continental Shelf are helping to create jobs and boost the economy across the country.
Safety remains an "absolute priority" one year on from the publication of a report addressing issues on offshore helicopter flights. The Civil Aviation Authority (CAA)'s CAT-1145 report was released on February 20, 2014 and listed 61 actions and recommendations aimed at addressing accident prevention for workers travelling offshore by helicopter. It comes one month after the CAA said there is still work to be done to improve flight safety.
LGO Energy has raised £1.5 million though company arranged placing of new ordinary shares. The total funds, before shares, will be used to ensure the firm's work in Trinidad is not hindered by the plummeting oil prices. The flagship Goudron operation is low cost and it is thought the venture will stand strong against the current climate, with its most recent well producing 2,000 barrels of oil per day.
A date has been set for the North Sea oil summit. Politicians will meet with industry leaders in Aberdeen on February 2.
BP workers will tomorrow find out if cuts are to affect their jobs. The energy giant is soon expected to share findings of an exercise aimed at saving money.
A new taskforce will be created to support Scotland's oil and gas sector.