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Latest Headlines

Shell strikes multiple payzones with US Gulf Power Nap well
Shell Offshore has achieved a significant deepwater oil discovery with its exploration well drilled on the Power Nap Prospect in the US Gulf of Mexico...

Ramboll wins Maersk contract for Culzean jackets design
(1/28/2015) Maersk Oil UK has awarded Ramboll Oil & Gas the detailed design for the two jackets for a central processing facility platform and separate utilities...

BG Group signs global alliance with KBR
(1/28/2015) BG Group has signed a global alliance with KBR for an initial six years that will involve KBR engineers and specialists in providing technical support...

Yinson wins Ghana Offshore Cape Three Points FPSO contract
(1/28/2015) Yinson Holdings has been awarded a contract for the chartering, operation, and maintenance of a floating production, storage, and offloading vessel...

Medco commences development of Sumatra's Aceh Block A
(1/28/2015) PT Medco Energi Internasional via its subsidiary Medco E&P Malaka has concluded a US$2 billion agreement to supply Aceh Block A gas...

Saudi Aramco to invest $7 billion in shale E&P
(1/28/2015) The Saudi Arabian Oil Company plans to invest US$7 billion in exploration and development of Saudi Arabia's shale oil and gas deposits...

Gulfsands suspends Morocco well as future producer
(1/28/2015) Gulfsands Petroleum has concluded production testing in its Dardara Southeast-1 discovery well in the Rharb Centre in northern Morocco...

Canacol's Clarinete-1 in Colombia flows 20.6 million cf/d
(1/28/2015) Canacol Energy has reported its Clarinete-1 in the Lower Magdalena Valley, has tested at a gross rate of 20.6 million cf/d of dry gas and no water...

Air Products wins Cameron LNG tech & equipment contract
(1/28/2015) Air Products will be providing its proprietary LNG technology, equipment, and related process license for three production trains at Cameron LNG...

Karoon sidetrack confirms Kangaroo-2 in Brazil's Santos Basin
(1/28/2015) Karoon Gas Australia has advised that it has concluded the drilling of the first of two sidetrack wells to its Kangaroo-2 appraisal well off Brazil...

Quest kicks off West Papua 2D seismic shoot for KrisEnergy
(1/28/2015) KrisEnergy has reported its contractor Quest Geophysical Asia has commenced a 300 km 2D seismic survey in West Papua, Indonesia...

Brilliant Sands building frac sands portfolio in Alberta
(1/28/2015) Brilliant Sands has begun exploration of its McClelland Lake frac sand project in Alberta, Canada, its highest priority and most advanced project...
SacOil sub finalizes 1st phase development of Egyptian field
(1/28/2015) SacOil Holdings through its subsidiary Mena International Petroleum has successfully completed the first phase of development of the Lagia Field...

Chevron in new US Gulf deepwater JV with BP & ConocoPhillips
(1/28/2015) Chevron USA will work with BP Exploration & Production and ConocoPhillips to explore and appraise 24 jointly held offshore leases...

Obama administration plans opening US Atlantic to E&P
(1/27/2015) For the first time in decades, the US Continental Shelf in the Atlantic Ocean offshore Virginia, North and South Carolina, and Georgia will be opened...

Norwest to drill Xanadu Prospect offshore Western Australia
(1/27/2015) Norwest Energy has begun preparations to drill the Xanadu Prospect offshore Western Australia territorial waters 250 km north of Perth...

Buru drilling Sunbeam-1 in Western Australia's Canning Basin
(1/27/2015) Buru Energy has reported it began drilling operations on its exploration well Sunbeam-1 on 25 January in Western Australia's Canning Basin...

Eni sanctions Ghana's Offshore Cape Three Points Project
(1/27/2015) Ente Nazionale Idrocarburi and partners Vitol and Ghana National Petroleum Corporation have agreed to proceed with the development...

ONGC pegs $3.67 billion to India redevelopment projects
(1/27/2015) Oil and Natural Gas Corporation is investing US$3.67 billion in redevelopment projects to increase its capacity by 1.18 billion bbl oil...

Green Dragon boosting gas output in China via new exploration
(1/27/2015) Green Dragon Gas is targeting a 50% increase in gas production in 2015, with exploration planned across all eight of its blocks in China...

American Eagle sells non-core stakes in North Dakota
(1/27/2015) American Eagle Energy has closed the sale of certain non-core, non-operated working interests in oil and gas properties in Divide County...

Dejour ties in latest Woodrush wells in British Columbia
(1/27/2015) Dejour Energy has successfully tied into production the B-100 Halfway oil stepout well and the A-100 Gething gaswell on the Woodrush Project...

KBR receives added contracts for Magnolia LNG terminal
(1/27/2015) KBR has been awarded a technical services agreement by Magnolia LNG for cost verification and other services for the Magnolia LNG project...

Saturn completes one Saskatchewan 2D shoot starting another
(1/27/2015) Saturn Minerals has completed its seismic program over the Bannock Creek Block in Saskatchewan and received permits for Little Swan Block...

Junex concludes production test on Quebec's Galt-4
(1/27/2015) Junex has completed the 14-day production test on its Galt-4, the first horizontal oil exploration well ever drilled by industry in Quebec...

Stone selects Technip for US Gulf Amethyst Field contracts
(1/27/2015) Technip has reported receiving contracts from Stone Energy for provision of a flexible pipe and installation for the US Gulf of Mexico Amethyst Field...

 For more headlines, select from OGI Departments at top left
From the Editor

2014 review, 2015 predictions

Dev George
Managing Editor

2014 has been a pivotal year for the worldwide petroleum industry that witnessed oil prices plunging approximately US$100/bbl from their summer high to see international benchmarks West Texas Intermediate start the New Year at about $53/bbl and North Sea Brent at about $57/bbl. That dramatic drop was, of course, precipitated by a global oil glut that was and still...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Dollar slippage pumps up price settlements

(1/27/2015) Today's trade at both London's Intercontinental Exchange (ICE) and the New York Mercantile Exchange (Nymex) was a reverse of yesterday, with all of our monitored benchmarks experiencing a significant increase in their futures prices by the closing bell with the singular exception of Tapis.
Driving most of the growth in prices was the US dollar's loss of value against a basket of other key currencies which dominated the day's trade...⇒⇒⇒
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