CNOOC Ltd broadens horizons
CNOOC Ltd, the listed unit of China National Offshore Oil Corporation (CNOOC) is embarking on a plan that envisages increased co-operation with foreign oil companies at home and overseas as it works to meet a targeted hydrocarbon production growth rate of between 6% and 10% per annum from now until 2015.
Voser sharpens axe for Shell
Anglo-Dutch supermajor Shell plans further cost cutting and lay-offs in an effort to “sharpen” its performance and increase profits.
Oil holds as Opec steers steady ship
OIL prices were robust this week, ending on a positive note on Wednesday due to a weak US dollar and after Opec decided to keep output targets steady.
Qatar cool on LNG demand downturn
Gas superpower Qatar is not alarmed over threats to its liquefied natural gas exports from a downturn in global demand and is keeping open the option of further developing its massive North Field reserves once a self-declared ban ends in 2014, Qatari Oil Minister Abdullah al-Attiyah told Upstream.
Nisconi clean sweep at South Mahakam
Japan’s Nippon Steel is poised to land all four turnkey contracts valued at more than $200 million in total at Total’s South Mahakam gas and liquids development off Indonesia.
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Songa files for bankruptcy
Upstream staff 19 March 2010 03:49 GMTNorwegian company Songa Floating Production has filed for bankruptcy after its attempts to raise cash to service its debts failed.
Enbridge boosts North Dakota flows
Calgary-based pipeline giant Enbridge Inc has more than doubled the capacity of the North Dakota system pipeline to handle up to 161,000 barrels per day, as crude output in the region increases, state officials said.
AGL spins off Surat pipeline
Australian downstream energy player AGL said it had sold its Berwyndale to Wallumbilla pipeline, which taps QGC’s coalbed methane fields in Queensland’s Surat basin, to APA Group for A$82.6 million (US$76 million).
Enbridge restarts US-Canada pipe
Enbridge said it restarted its 185,000-barrel-per-day crude Line 65 from Canada to the US yesterday after stopping shipments on Wednesday due to maintenance.
Suncor gets OK for Firebag expansion
The Alberta Energy Resources Conservation Board approved Suncor Energy's application to expand the Firebag in-situ oil sands project.
BG racing competitors on Oz LNG
British natural gas explorer BG Group is seeking a “first-mover advantage” in a race to approve liquefied natural gas projects in Queensland state, the head of its Australia unit said.
Xcite cashes up for Bentley
Heavy oil-focused Xcite Energy said today it has raised C$38.4 million ($38 million) through the placing new shares to fund drilling of the 9/3b-R pre-development well on the Bentley oilfield in the North Sea.
OMV shrugs off pipe merger talk
Austrian player OMV today rubbished speculation that talks were being held on combining the Russian-backed South Stream pipeline with its European Union-backed rival, Nabucco, both of which aim to deliver gas to Europe.
Trico scores North Sea work
US offshore player Trico Marine Services has won a pair of contracts worth $40 million for its subsea services unit DeepOcean and subsea protection unit CTC Marine.
Technip in $48m Nord Stream splash
French engineering giant Technip has won a €35 million ($48.1 million) frame contract for work on the Nord Stream subsea gas pipeline, which will run from Russia rto Germany under the Baltic Sea.
Rolls Royce snaps up India pipe job
UK equipment maker Rolls-Royce said today it has won a $90 million contract from Gas Authority India Limited (Gail) to supply power systems for a major gas pipeline project.
Total primes Laggan-Tormore kick-off
French giant Total is poised for kick off at the £2.5 billion ($3.7 billion) Laggan-Tormore subsea development, in the UK's frontier West of Shetland play.
Tehran plans $200bn oil spend
Iran is seeking $200 billion in oil, gas and refining investments over five years to avoid a production decline, the country's oil minister said today.
| Dominion sells off E&P business for $3.5bn |
| Takeover talk boosts BG |
| Total primes Laggan-Tormore kick-off |
| Wintershall plans $4bn spend |
| Songa files for bankruptcy |
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