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Welcome to oil-gas-news.com

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The latest petroleum news around the world, hot topics, new technologies, post or request oil jobs, post or request oil projects, oil field trading, oil equipment trading ......

Mission Statement
oil-gas-news.com is designed to be interactive center for current information regarding the peak in global energy supply, new E&P technology, business opportunity. We will publish news and research concerning: The current situation, such as Innovations or partial solutions to this crisis, new technology, Joint Venture Project, new idea, oil & gas production data, economic or societal clues to decline profiles, and relevant institutional pronouncements. Any other issues which assist our understanding of the broader implications of the oil peak.

We welcome original content, and we invite industry insiders and independent researchers to submit their insights and findings relevant to these issues.

How it works
Users of the site contribute articles through the article submission form. Our editors will approved these stories for publication.

We welcome constructive criticism at all times, and invite all readers to leave comments on the articles and also to send feedback by email help@oil-gas-news.com.

Created on 02/04/2003 10:24 AM by admin
Updated on 11/13/2006 02:42 PM by admin
 Printable Version

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Today Oil & Gas News

Wednesday, July 1, 2009

Industry Headlines

Oil Cos Reject Iraq's Contract Terms
Iraq awarded a BP-led consortium the right to develop the giant Rumaila oil field but failed to strike deals for seven oil and gas fields as companies balked at the country's contract terms.

Bangladesh Mulls Decision on Award of Offshore Gas Blocks
Bangladesh's prime minister has directed the energy division to send a proposal to award up to nine offshore gas blocks to ConocoPhillips and Tullow Oil.

OPEC Oil Price Nears $70
OPEC's oil price inched towards the 70-dollar mark Tuesday, the Vienna-based cartel announced Wednesday.



Tuesday, June 30, 2009

Industry Headlines

Petrobras Focuses on Costs Ahead of Rig, Platform Tenders
Petrobras continues to take a hard line on cost cuts as it prepares to launch tenders for drilling rigs and production platforms.

BG Group Takes Billion-Dollar Bite of US Shale
BG Group agreed to pay $1 billion for a stake in Exco's shale-gas properties in Texas and Louisiana, becoming the latest European oil major to move into U.S. unconventional natural gas.

Keppel Clinches Contracts to Revamp 3 Semisubmersibles
Keppel O&M has secured contracts from Diamond Offshore, COSL and Noble Drilling for the upgrading and repair of three semisubmersibles.

BP, CNPC Win Iraqi Rumaila Oil Field Development Deal
BP and CNPC have won a contract for the development of Iraq's Rumaila oil field, the only successful bid in Iraq's first licensing round for eight oil and gas fields.

IEA Chief Says Spare Oil Production Capacity Buffer Comfortable
The buffer between demand for crude oil and current production capacity is comfortable enough not to need additional OPEC output, the head of the International Energy Agency said.

Oil Dips Below $70, Weak Economic Data, Fundamental Shift the Culprits
Based on weak economic statistics reported in the US and UK, as well as the close of the quarter, crude oil dropped alongside the stock market and other commodities today.



Monday, June 29, 2009

Industry Headlines

Oil Rises Above $71, Rally May Stay
Crude oil saw a more than $2 jump in trading on the New York Mercantile Exchange Monday, on escalated violence in the Niger Delta, as well as technical factors.






Announcements

Well log digitization

Posted by: admin on 05/29/2009 10:54 AM (Read: 103)
LOGDIGI guarantees the lowest price and highest quality well log digitization, well log scanning, map digitzation services. If you find any companies' price lower than ours, we can match or lower than their price. LOGDIGI guarantees not resell clients' data to the third party.
www.logdigi.com
Read More

Bespoke solution for Qatar offshore platform

Posted by: anonymous on 05/29/2009 10:54 AM (Read: 96)
Work on the third and final phase of a project to replace the upper sections of three risers and emergency shutdown (ESD) valves on an offshore platform off Qatar has recently been completed by Furmanite Middle East, the specialist engineering and technical services company, who developed and applied purpose-engineered solution to meet the requirements.
Read More

Emergency Response Management Certification

Posted by: anonymous on 05/29/2009 10:54 AM (Read: 214)
This 3 day certification program demonstrates the required response to crisis situations that are both practical and flexible as well as being easy to understand.
Read More

Knowledge Reservoir Ownership Returns to Original Founders

Posted by: anonymous on 05/13/2009 08:24 PM (Read: 128)
HOUSTON, Texas, May 11, 2009 --- Knowledge Reservoir, a leading global geosciences and engineering consulting services company, today announced the completion of a Management Buy Out of the remaining shareholding held in the company by Ziebel AS.
Read More

Furmanite wins ‘Most Significant Contribution to Subsea Pipeline Technology’ award

Posted by: anonymous on 05/13/2009 08:24 PM (Read: 176)
Furmanite, the specialist engineering and technical services company, has won a prestigious Pipeline Industries Guild award for the ‘Most Significant Contribution to Subsea Pipeline Technology’, amid stiff competition, with its ultra high pressure subsea pipeline repair clamp design.
Read More

Leak Sealing Precautions for North Sea Pipeline

Posted by: anonymous on 03/29/2009 09:37 PM (Read: 346)
Furmanite, the specialist engineering and technical services company, has designed, built and delivered a high pressure subsea self-sealing repair clamp as a contingency measure for the BP operated Everest to Forties condensate pipeline in the North Sea. The clamp will provide a fast and efficient means of repairing a leak without requiring shutdown, should the need arise.
Read More

New check valve significantly reduces operating costs

Posted by: anonymous on 03/29/2009 09:37 PM (Read: 367)
A next-generation Non-Slam Nozzle Check Valve has been developed by global pipe connection and flow control products company SMX International, providing a faster dynamic performance than previously thought possible, and the lowest pressure loss of any valve currently on the market – significant performance advantages that result in substantial through-life cost saving benefits. The new valve is now available.
Read More

SMX International makes UK appointment

Posted by: anonymous on 02/04/2009 10:09 AM (Read: 538)
SMX International, the global pipe connector and flow control products company, has appointed Bernie Newmarch as UK representative.
Read More

Hexion’s Oilfield Technology Group Opens New Production Plant for ValuBond Proppant

Posted by: anonymous on 02/03/2009 01:40 PM (Read: 845)
The Oilfield Technology Group (OTG) of Hexion Specialty Chemicals today announced the opening of a new production plant for its line of ValuBond resin coated proppants in the Oklahoma City area.
Read More

Well log digitization

Posted by: anonymous on 01/05/2009 08:13 PM (Read: 974)
LOGDIGI guarantees the lowest price and highest quality well log digitization, well log scanning, map digitzation services. If you find any companies' price lower than ours, we can match or lower than their price. LOGDIGI guarantees not resell clients' data to the third party.
www.logdigi.com
Read More

Well log digitizing

Posted by: anonymous on 01/05/2009 08:13 PM (Read: 652)
Well Log Digitizing, Well Log Digitization, Well Logging Digitizing Services
LogDigi, LLC provides the lowest price well log digitizing, the highest quality, and the fastest well log digitizing service. LogDigi is a very strong competitor of other digitizating software companies - well log digitizing system and other digitization companies - well log digitizing services.

The Lowest Price Well Log Digitizing LogDigi's well log digitizing service fee is much cheaper than other digitizing companies.

The average price is about Average price from

$19 ~ $59/well
Negotiable Price can decrease your cost. No start fee for each well. No extra charge for rush orders.
Read More

Shell Highest Bidder in MMS Beaufort Sea Oil, Gas Lease Sale

Posted by: anonymous on 04/20/2007 07:14 AM (Read: 870)
by Ian Talley
Thu, Apr 19, 2007 10:50 GMT

WASHINGTON - Royal Dutch Shell PLC (RDSA) was the highest bidder and winner of the most oil and gas exploration blocks in the the U.S. Minerals Management Service Beaufort Sea lease sale, according to details posted by the MMS Wednesday.
Read More

Independent Petroleum Association of America Hosts Largest Oil and Gas Investment Symposium

Posted by: admin on 04/17/2007 01:37 PM (Read: 917)
WASHINGTON, April 16 /PRNewswire/ -- The Independent Petroleum
Association of America (IPAA) announces the upcoming annual Oil & Gas
Investment Symposium (OGIS), April 23 - 25, 2007, at the Sheraton New York Hotel and Towers in New York City. With 100 presenting companies, attendees will have the opportunity to interact with domestic oil and natural gas executives, Wall Street analysts, money managers and capital providers from around the globe.
Read More

Big companies get their way on interpretation of fuel rule

Posted by: anonymous on 04/17/2007 01:00 PM (Read: 781)
By DAVID IVANOVICH
Copyright 2007 Houston Chronicle Washington Bureau

WASHINGTON, Millions of American taxpayers may feel a bit grumpy today after cutting checks to the Internal Revenue Service.

But ConocoPhillips and Tyson Foods have reason to be more kindly disposed to the tax man this April.

Read More

Big companies get their way on interpretation of fuel rule

Posted by: anonymous on 04/17/2007 09:21 AM (Read: 967)
By DAVID IVANOVICH
Copyright 2007 Houston Chronicle Washington Bureau

WASHINGTON, Millions of American taxpayers may feel a bit grumpy today after cutting checks to the Internal Revenue Service.

But ConocoPhillips and Tyson Foods have reason to be more kindly disposed to the tax man this April.

Read More

US Appoves Gas Drilling in Colorado's HD Mountains

Posted by: anonymous on 04/06/2007 07:11 AM (Read: 851)
Thu, Apr 5, 2007 15:34 GMT
NEW YORK - The U.S. Bureau of Land Management and U.S. Forest Service on Wednesday issued a decision that could allow as many as 124 new gas well pads in the northern San Juan Basin in southwestern Colorado, The Durango (Colo.) Herald reported in its Thursday edition.
Read More

ONGC signs service contract for development of marginal fields

Posted by: anonymous on 04/05/2007 08:24 AM (Read: 911)
From our ANI Correspondent

New Delhi, Apr.5: The Oil and Natural Gas Corporation Ltd. (ONGC) has entered into service contracts for development of 14 onshore marginal fields with M/s Hydrocarbon Resources Development, M/s Deep Industries Ltd., M/s B G Shirke Construction Technology, M/s KEI - RSOS Maritime Ltd and M/s Shiv Vani Oil and Gas Exploration.
Read More

TOUGHENING UP IN THE GULF

Posted by: anonymous on 04/04/2007 07:11 AM (Read: 836)
Drillers and producers bolster their equipment after learning from impact of Katrina, Rita

By KRISTEN HAYS
Copyright 2007 Houston Chronicle

Royal Dutch Shell's Mars oil platform is whole again with two months to spare before hurricane season begins in June.

A new 250-foot latticework derrick atop a repaired 1,000-ton drilling rig substructure is back on the Gulf of Mexico's largest producing platform about 130 miles southeast of New Orleans. That reunion was the biggest step in the platform's last major repair after Hurricane Katrina's destructive wrath in August 2005.

But this time, revamped clamps give the substructure a much stronger grip on the platform, said Charlie Williams, chief scientist of well engineering and production technology for Shell.

Katrina's fury sheared through the original 3-inch steel clamps, lifted the rig, slammed it back onto the platform and tossed the derrick into the ocean.
Read More

Yukos' final assets to be sold at auction

Posted by: anonymous on 03/28/2007 08:43 PM (Read: 1110)
Giant Russian oil firms expected to dominate bids

By ALEX NICHOLSON
Associated Press
MOSCOW — An auction will begin today for the remains of bankrupt Yukos oil, giving Russia's mighty state-controlled energy companies a chance to tighten their grip on the world's biggest hydrocarbons industry.

OAO Yukos once was the biggest oil producer in Russia and its favorite blue-chip stock. But the company was driven into bankruptcy after the politically charged arrest of its head, Mikhail Khodorkovsky, and the levying of billions of dollars in back-tax bills.

Khodorkovsky was sentenced to eight years in prison for fraud and tax evasion after what critics called a show trial to punish him for funding opposition parties to President Vladimir Putin.

The state auctioned off Yukos' prime production subsidiary at the end of 2004, selling it to an apparent shell company that quickly resold it to another state-controlled company, OAO Rosneft. That catapulted Rosneft into the No. 3 spot among Russian oil producers.
Read More

The well

Posted by: anonymous on 03/26/2007 11:58 AM (Read: 854)
• Norsk Hydro ASA said its Ormen Lange natural gas field off the coast of Norway will start production at about 30 million cubic meters of gas a day in October before reaching daily output of 70 million cubic meters by 2009. Output from the field will rise to 50 million cubic meters a day in April 2008 and Norsk Hydro will double its gas exports by the year 2010. Ormen Lange can handle about 20 billion cubic meters of gas a year, or about the same annual energy demand in Norway, the company said.
Read More

Also on this Site...

Realtimenews@AAPG: Innovative Techniques Minimize Inter
Last updated by admin on 11/09/2007 12:00 AM (Read: 4782 times)

by Gretchen Gillis
Thu, Nov 9, 2006 01:29 GMT

PERTH, Australia ?Making good reservoir predictions is a crucial endeavor for petroleum geologists, as evidenced by numerous presentations given here at the AAPG International Conference and Exhibition.

Geological interpretations of outcrops, wells, or other data types depend heavily on the skill of the interpreter, and typically are strengthened by the interpreter抯 experience. The oil and gas industry is hiring new geological interpreters at breakneck speed, and often these interpreters collaborate on large projects, so consistency of interpretive approach is desirable.

[Read More] 479 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Web Delivers Timely Petrotechnical Reference Data
Last updated by admin on 04/04/2007 07:40 AM (Read: 3873 times)

by Gretchen Gillis
Tue, Apr 3, 2007 19:39 GMT

LONG BEACH, California – The drilling, logging and other oilfield equipment of today bears a resemblance to its earliest predecessors. But the volume of data acquired when drilling a well has grown substantially over the years. This volume might leave scientists and engineers wondering what data they have acquired unless they have a photographic memory: the number of well-log curves and parameters exceeds 50,000 and grows by approximately 1,000 curves yearly.

A real-time delivery mechanism improves the acquisition, processing and interpretation workflows by supplying log-curve descriptions and other information via the Web.

[Read More] 252 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


DOGGR: Drilling Through Time
Last updated by admin on 03/24/2007 11:37 PM (Read: 3208 times)

Before Europeans discovered California, Native Americans had discovered uses for petroleum. Asphaltum from oil seeps helped keep arrowheads on their shafts and made baskets watertight.

The Division of Oil, Gas, and Geothermal Resources -- originally known as the Department of Petroleum and Gas -- never regulated the making of arrows or baskets. Its work began in 1915, at a time when the oil and gas industry was a booming free-for-all in need of a referee. Through the 20th Century and into today, DOGGR has helped the oil, gas and geothermal (a relative newcomer) industries maintain productivity while becoming more efficient, diversified and environmentally conscious.

[Read More] 1117 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


A New Approach to Drilling Directional Wells with Coile
Last updated by admin on 03/21/2007 08:05 AM (Read: 4350 times)

by Matt Varhaug, Oilfield Review editor
Tue, Mar 20, 2007 23:57 GMT

THE WOODLANDS, Texas - Field testing is opening the way for coiled tubing in directional wells drilled in the San Juan Basin of Colorado and New Mexico, USA.

Speaking here at the Intervention & Coiled Tubing Association's (ICoTA) 2007 Coiled Tubing and Well Intervention conference and exhibition, Tony Pink, Drilling Engineering Manager with Schlumberger, described how the San Juan Coiled Tubing Project was launched by BP America to evaluate directional drilling systems used in coiled tubing applications.

[Read More] 495 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Fullbore Formation MicroImager
Last updated by Schlumberger on 09/30/2006 01:57 PM (Read: 4431 times)

Borehole geology, geomechanics and 3D reservoir modeling

Determine net pay
The FMI Fullbore Formation MicroImager gives you microresistivity formation images in water-base mud. This is the preferred approach for determining net pay in laminated sediments of fluvial and turbidite depositional environments.

Visualize sedimentary features
These features define important reservoir geometries and petrophysical reservoir parameters. The interpretation of image-derived sedimentary dip data lets you understand sedimentary structures.

Interpret seismic sections
Well-to-well correlation is difficult in deviated wells with sections of steep and varying structural dip. Greatly improve structural interpretation of seismic sections with high-quality bedding dips to compute accurate logs of true stratigraphic thickness.

Get more data
Geological information from FMI borehole images helps with stochastic modeling of the sand-shale distribution. FMI images define channel heights superbly in amalgamated units. Other variables, such as the channel width and channel sinuosity, can be estimated using geological analogs, based on detailed sedimentological analysis of FMI image data.

Improve well construction plans
Borehole images improve your mechanical earth models which, in turn, help you optimize well plans. Better understanding of borehole stability can save you millions of dollars during field development.

[Read More] 418 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Better Turns for Rotary Steerable Drilling
Last updated by lai_wmn on 08/20/2006 02:03 PM (Read: 4287 times)

Farther, faster, cheaper, safer. These words describe the drilling results of the newest rotary steerable systems. Substantial advances in the reliability and steerability of rotary steerable drilling systems allow engineers to plan and drill complicated well trajectories in extremely demanding environments. Better still, oil and gas companies save rig time while doing so.

[Read More] 264 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


WHY INVEST IN OIL AND GAS NOW?
Last updated by admin on 08/16/2006 08:35 AM (Read: 7250 times)

[Read More] 579 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


Stratigraphic Column
Last updated by admin on 07/27/2006 08:59 AM (Read: 4642 times)

A stratigraphic column is a drawing done by a geologist that describes what rocks in a cliff wall or underground look like. This allows other geologists, who have never seen these rocks in person, to understand the geology of that area, and perhaps even decide whether or not there is the potential for oil or natural gas to exist in these rocks.

[Read More] 268 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


DOE-backed Consortium Delivers 6 New 'Stripper Well' Te
Last updated by admin on 06/27/2006 03:04 PM (Read: 4545 times)

Joint ventures in technology development by government and industry delivered six new deployment-ready applications in four years to extend the useful life of more than 650,000 stripper wells that deliver almost 15% of America's domestic oil production and almost 8% of natural gas production, according to the U.S. Department of Energy (DOE).

[Read More] 978 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail


What is the Role of Technology in Oil & Gas Production?
Last updated by admin on 06/22/2006 07:37 AM (Read: 4693 times)

When many people think of the oil and natural gas industry, they think of an old, dirty, staid industry using technology from decades ago. The images they see on television or in the movies show oil gushing madly out of wellbore or a mechanical drilling rig with three men in dirty clothes throwing a chain around drill pipe. Most people do not realize how out-dated these images are. Oil and gas is a very technology-oriented industry; many techniques developed by the industry are now used in other industries, including the space program. Technological innovations have made it possible for the oil and gas industry to supply the fuels that power the world economy.

[Read More] 1047 more words - 1 page Printable VersionPrint E-mail this Article to a FriendeMail



Latest Oil & Gas News

Thursday, July 2, 2009

Latest Oil & Gas News

Pacific Rubiales Drills 3 New Wells at Rubiales, Spuds Quifa I-9
Three new wells have been drilled at Rubiales and the Quifa I-9 exploration well has been spudded.

Oil Drops Before US Holiday, Monday May Be Critical Point
Crude oil prices fell more than $2 today as July 4 nears and news concerning US unemployment numbers surfaced. Analyst Phil Flynn sees oil prices reaching a critical point, either heading up to $75 or down toward $50 in the next couple of days.



Friday, July 3, 2009   (Today)

Latest Oil & Gas News

Total, CNPC Mulling Bid for Two Venezuela Oil Blocks
Total and CNPC plan to bid for two large oil blocks being auctioned in Venezuela instead of one the two companies had previously shown interest in acquiring.

PetroVietnam to Set Up Oil JV for Devt Offshore Venezuela
PetroVietnam confirmed that it will set up an oil joint venture with Venezuelan Petroleum Corp. to produce oil in the Junin-2 offshore block.

Turkmenistan Begins Oil Production in the Karakum Desert
On June 29, the first oil was shipped from Turkmenistan's Yylakly field in the Central Karakum to the Turkmenbashi complex of oil refineries.






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