Iraq’s 2015 Oil Output Seen Flat, Next Year a Challenge

Iraq’s 2015 Oil Output Seen Flat, Next Year a Challenge Iraq’s oil output in 2015 is likely to remain flat as Baghdad struggles to cope with a slump in crude prices that has slashed...

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ExxonMobil president calls for faster LNG export approvals

The United States is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves to approve liquefied natural gas...

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Decline in oil prices is “temporary

The decline in oil prices is “temporary,” and crude is steadying at $55–60/bbl amid stronger global demand, an adviser to Saudi Arabia’s oil minister said. “I’m very optimistic about...

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Schlumberger Will Cut 11,000 Additional Jobs

Schlumberger Ltd. has said it plans on cutting 11,000 more jobs, in addition to the 9,000 job cuts announced in January, making for a total of 20,000 jobs – approximately 15 percent of its...

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Zero Routine Flaring

With about 140bn cubic meters of associated natural gas is burnt off at oilfields across the globe every year, an initiative called ‘Zero Routine Flaring’, was announced during April 2015...

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Chevron fires up first Gorgon LNG gas power generator

Chevron-operated Gorgon LNG project has achieved an important milestone with the successful start-up of the first gas turbine generator, a key element of the Gorgon project’s plant start-up...

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Oil prices end week up about 1 percent

Oil prices held steady Friday ahead of key industry data as markets took a wait-and-see approach on strong Chinese economic momentum. Major oil indices barely moved early in the Friday session,...

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Saudi demand optimism lifts oil prices

Prospects for a brief slowdown in U.S. oil production and demand expectations from Saudi Arabia gave oil prices a major lift in Thursday trading. Ibrahim al-Muhanna, an adviser to the Saudi Petroleum...

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Novatek turning to export agencies for USD 5 bln for Yamal LNG

Russia’s largest independent gas producer Novatek, which is operating the Yamal LNG project, is looking to secure funds from global export credit agencies in the amount of $5 billion. According to...

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Qatargas hits 5000th LNG cargo milestone

World’s largest LNG producer Qatargas said it has reached a milestone with the 5000th cargo from the Common LNG Storage and Loading Asset in Ras Laffan Industrial City recently loaded on board the...

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