New significant gas discovery in UK North Sea

Recoverable resources are estimated close to 250m barrels of oil equivalent

Shell to expand Chinese petrochemical plant

Shell has made a final investment decision on expanding a petrochemical plant with a Chinese firm. The oil giant and China National Offshore Oil Corporation (CNOOC) have confirmed plans to extend their petrochemical joint venture site in Guangdong. The project includes the ongoing construction of additional chemical facilities next to the current facility, which will increase ethylene […]

Shell strikes gas off West Africa

Shell has announced a deep-water gas discovery off the coast of West Africa. The company said the Leopard-1 well found a “substantial gas column with around 200 metres net gas pay in a pre-salt reservoir”. The well, located around 145 kilometres off the Gabonese coast, west of Gamba, was drilled 2,110 metres deep. Andy Brown, […]

China joins hunt for Arctic oil

China is the latest world superpower to join the hunt for fuel in icy Arctic waters. Chinese state energy company CNOOC has bagged an exploration licence from Iceland’s National Energy Authority (Orkustofnun). It is partnering with Norwegian-owned firms Eykon Energy and Petoro Iceland to drill for oil in the Dreki region, inside the Arctic Circle […]

Aberdeen-based firm wins North Sea deal

An Aberdeen-based engineering and consultancy firm has been awarded a North Sea contract which is expected to help create around 150 jobs. AMEC will provide engineering, procurement and construction services for Nexen Petroleum UK’s offshore platforms (pictured) in the North Sea. The contract will run for six years with the option of two extensions, each […]

Brazil confirms successful bids for oil exploration rights

A handful of the world’s largest oil firms have won the rights to explore the biggest oil field in Brazil. The group made up of Anglo-Dutch oil firm Shell, Brazil’s state-run Petrobras, France’s Total and China’s CNOOC and CNPC made the only bid in the auction at the Rio de Janeiro hotel. The hotel was […]

Chinese oil company lands $2bn deal in Uganda

China’s state-owned oil company CNOOC has landed a $2 billion (£1.23 billion) deal to develop a field in Uganda. Ugandan Junior Energy Minister Peter Lokeris said: “It is a milestone towards making us self-sustaining as far as oil and gas production is concerned. “The contractor among other responsibilities will be responsible for developing the Kingfisher […]

Chinese energy giants shop abroad

Chinese energy giant CNOOC this week made a bid to buy the Canadian production firm Nexen for $15.1bn (£9.8bn). Nexen is the second largest oil producer in the UK, outputting 114,000 barrels of oil equivalent per day (boepd). In another deal, China’s Sinopec purchased a 49% share of Talisman’s oil-and-gas assets in the UK for […]

China starts first shale project

China National Offshore Oil Corp (CNOOC) has reportedly begun preparatory work on its first onshore shale project. The Chinese giant is said to be exploring a 4,800- square kilometre block in the east of the country. According to Reuters, China has set a target to pump 6.5 billion cubic metres by 2015 and 80 bcm […]

Buyer pulls out of BP’s $7bn South America sale

BP’s sale of its South American oil company has fallen through after the buyer pulled out citing “legal reasons”. Bridas Corporation sent a letter to BP this weekend to cancel the $7.06billion deal to buy up BP’s 60% stake in Pan American Energy, the second largest producer of hydrocarbons in Argentina. Bridas, which owns the […]

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