Oil & Gas Industry News
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Qatar Petroleum Takes 15% Stake in Total E&P Congo.
Qatar Petroleum International and Total sign a framework of Agreement whereby QPI will participate in Total E&P Congo through its subscription to a 15% share capital increase of this company. Energy update.
BP's Investment in Iraq to Reach $5B by 2016.
BP plans to increase the production capacity at the Rumaila oilfield by 750,000 barrels per day and aims to increase its spending in the country to $5 billion a year, a senior exec. says. Energy update.
Sudan Accused of Blocking Oil Exports.
South Sudan has accused its neighbor Sudan of blocking oil flow from its Unity state. Energy update.
Nymex Crude Falls After Four-Session Rally.
US crude futures fall, snapping a four-session rally as investors pause ahead of weekly oil-inventory data and testimony from Ben Bernanke. Energy update.
Total launches phase 2 of offshore Ofon field.
Total launched the second phase of the Ofon field development in offshore Nigeria (Ofon Phase 2) has begun. Oil and gas updates.
Lundin spuds fourth appraisal well.
Lundin Petroleum commenced drilling of the appraisal well 16/2-11 on the Johan Sverdrup PL501 discovery located in the North Sea sector of the Norwegian Continental Shelf (NCS). Oil and gas updates.
Total launches Hild field development.
Total, operator of the Hild license, launched the development of the field located in the Norwegian North Sea. Oil and gas updates.
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