News
EIA Sees Lower OPEC Output, Weaker Demand Growth In 2015

The U.S. Energy Information Administration trimmed its forecast of world oil demand growth next year and made even deeper cuts in its outlook for OPEC production, the latest signs of a shift toward...

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Oil Ministry: Egypt Pays $1.5B To Foreign Energy Companies

Egypt has paid $1.5 billion of its debt to foreign energy companies, the oil ministry said in a statement on Thursday. Egypt has delayed payments to oil and gas firms since a popular uprising ousted...

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Oil Traders Say OPEC May Be Heading For Price War

Saudi Arabia’s decision to slash the official selling price for its oil has sparked trader talk of an emerging OPEC price cutting war, as members of the producer group could compete to defend...

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Exxon CEO Says Lifting Crude Export Ban Would Create US Jobs

Scrapping a decades-old ban on U.S. crude oil exports would spur job creation and boost energy security by encouraging new investment that lifts production, Exxon Mobil Corp’s chief executive...

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Total To Sell More Assets, Cuts Oil Output Target

Germany’s Siemens has agreed to buy U.S. oilfield equipment maker Dresser-Rand for $7.6 billion in cash, aiming to catch up with arch-rival General Electric in a booming U.S. shale gas...

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Saudi Aramco Plans To Invest $40B A Year For The Next Decade

Saudi Aramco, the world’s biggest oil producer, plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production, Chief Executive Khalid...

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Strategic Marine announces Third Generation offshore crew transfer vessel

Strategic Marine, a specialist shipbuilder for the oil & gas sector, today unveiled its Generation 3 crew transfer vessel for the international offshore markets.   The Strategic Marine Gen 3...

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Petrofac Chairman Resigns

UK-based oilfield services firm Petrofac Group announced Friday that its chairman, Norman Murray, has resigned from the board for compassionate reasons. The firm said that its senior independent...

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Petroleum Engineers See Highest Increase in Median Average Salary

Petroleum engineers experienced the highest increase in median annual salary since 2011, according to a recent report from the American Geosciences Institute (AGI). In 2013, the median average salary...

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Liberia Looks Ahead With New Oil Bid Round

13 – 8 – 2014 Liberia is inviting international companies to bid for offshore oil production licences as it grapples with an Ebola fever outbreak, which is crippling its economy and has...

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