Court says Ecuador unlawfully seized blocksConocoPhillips' wholly owned subsidiary, Burlington Resources Inc., has received a favorable decision in the international arbitration filed against Ecuador. The Tribunal, constituted under the…
Svane license to expire due to drilling costsDONG and its partners have decided not to pursue the drilling of an appraisal well at Svane field, opting instead to let the 04/98 Svane license to expire on 1 January 2013.DONG said the decision was based on detailed technical evaluations…
Class societies unite under name DNV GL GroupAn agreement has been signed to merge DNV and GL. The new entity will be called DNV GL Group. It will be one of the world's leading ship classification societies and risk experts in the oil and gas…
UK to resume fracking with control measures The UK's Department of Energy and Climate Change (DECC) announced on 13 December that hydraulic fracturing can resume although the practice will be subject to new controls.The new controls announced…
BG Group appoints Chris Finlayson to top spot BG Group has elevated Chris Finlayson to Chief Executive Officer effective 1 January, the company announced on 13 December 2012.Finlayson came to BG in 2010 after spending 33 years with Royal Dutch Shell…
Rosneft's Moscow headquartersRosneft strikes $28B deal with AAR for TNK-BPRosneft has finalized an agreement to purchase AAR Consortium's (Alfa Group, Access Industries and Renova) 50% stake in TNK-BP for $28 billion, the company announced on 12 December 2012…
Kongsberg Oil & Gas Technologies AS (KOGT), a wholly owned subsidiary of Kongsberg Gruppen ASA (KONGSBERG), has entered into an agreement to acquire 100% of the shares in Apply Nemo AS, an independent supplier of advanced engineering services…
Offshore leasing blocksAnadarko, TAG Oil secure multiple NZ leases New Zealand's government has awarded 10 exploration permits during its 2012 block offering, the country's petroleum and minerals agency announced on 11 December 2012.The ministry said that the block offering…
Spectra Energy Corp announced it has entered into a definitive agreement to purchase 100% of the ownership interests in the Express-Platte Pipeline System from Borealis Infrastructure, the Ontario Teachers' Pension Plan and Kinder Morgan Energy Partners for $1…
Prime Minister Stephen HarperCanada grants approval for Nexen, Progress grabsThe Canadian government announced on Friday that it would approve two controversial investments in local firms by foreign state-owned companies.Minister of Industry…
David E. Roberts, Jr.David Roberts resigns as Marathon Oil's COODavid E. Roberts, Jr. has resigned as Executive Vice President and Chief Operating Officer of Marathon Oil Corporation, the company confirmed on 10 December 2012.Roberts' resignation is effective 14 December…
In October 2012, the government of the Comoros Islands issued a statement that only one company, Mozambique Channel Discovery Ltd. (MCD), a subsidiary of Luxembourg-based Boulle Mining Group, has oil and gas exploration and production rights throughout the territorial waters of the Comoros…
Energistics, the upstream oil and gas standards consortium, announced today that Eric Toogood, Diskos Manager for the Norwegian Petroleum Directorate (NPD), and Espen S. Johansen, Ph.D., Vice President Marketing and Commercialization – Production and Completion Systems for Weatherford…
Subsea mooring connector specialist First Subsea has invested over £200,000 in new mooring connector test rig facilities at its production site in Lancaster, UK. Designed for proof load and minimum breaking load testing up to 2600te (25…
UK business minister Michael Fallon opened market leader Bridon International’s new state-ofthe-art wire rope manufacturing facility in Newcastle last month. The event marked the commencement of manufacturing at Bridon Neptune Quay, developed…