oil and gas

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Sinopec sues Venezuela

Sinopec USA, a subsidiary of the Chinese oil and gas conglomerate, has sued Venezuela’s state oil company PDVSA in a U.S. court, claiming it never received full payment for an order of steel rebar. The corporate logo of the state oil company PDVSA is seen at a gas station in Caracas, Venezuela December 1, 2017. REUTERS/Marco Bello The lawsuit asks

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Lack of interest in Norwegian oil licensing round

Norway’s attractiveness as an oil region took a hit on Tuesday when energy authorities said 11 oil firms applied for stakes in exploration blocks off Norway in its latest oil licensing round, less than half the number that applied in the previous round. A disappointing drilling campaign this year in the Arctic Barents Sea – where oil companies did not

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TechX to invest millions in start-ups and SMEs – BP announced as strategic partner

Today marks the launch of TechX – a unique technology accelerator and incubator focused on helping smaller, ambitious technology developers take their solutions to the oil and gas market – faster. With three tailored programmes – Pioneers, Market Entry and Ventures – TechX will accelerate the future of the oil and gas industry.  Our Pioneers programme provides game-changing funding –

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North Sea oil and gas firms collaborating

Sea oil and gas companies have got better at collaborating amid the challenges posed by the oil price plunge since 2014 but still have lots of room for improvement, research has found. The findings come from a study which assessed how effectively oil and gas companies have responded to calls for them to work together to help limit the damage

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North Sea Platform Abandoned Over Fears it Could Topple Into the Sea

Canadian Natural Resources have initiated a complete down-man of their Ninian South Platform over fears that the platform may not be able to withstand forecasted weather on Thursday the 7th of December. Concerns came after it was identified that the brace on the platforms jacket is defective, meaning that the forecasted 16m waves on Thursday have the potential to cause a

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Statoil greenlights key $6 billion oil project

Statoil gave the final go-ahead to a flagship Arctic oil project after slashing costs by half. While expected, the move by Norway’s biggest oil company is a boost to a region seen as key to arresting a decline in the country’s production. In a striking illustration of how oil companies have adapted to lower prices, Statoil cut estimated investments at

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