The rights to offshore oil fields held by a Japanese firm will be extended for 30 years after their 2012 expiration, the head of Abu Dhabi National Oil Co., or ADNOC, told the visiting Japanese trade minister Tuesday.
Dalian Port (PDA) Co Ltd (2880.HK)(601880.SS) said it plans to issue up to 2.5 billion yuan ($377.7 million) worth of domestic bonds, raising funds to adjust its debt structure, repay bank loans and for working capital.
Worried about the effect of freezing temperatures, the operator of the Trans Alaska Pipeline System said it planned to temporarily restart the flow of oil through its 800-mile network, even though repairs had not yet been completed on the leak that forced the shutdown of the system on Saturday.
BAE Systems in the UK has successfully demonstrated a prototype device that will serve as an effective non-lethal deterrent against pirate attacks on commercial vessels.
A Libyan-owned suezmax tanker has been attacked by armed pirates in the Gulf of Aden, TradeWinds has learned.
Chevron Corp. restored oil production at an offshore platform in its Eugene Island field after a one-hour shutdown yesterday, according to Scott Walker, a company spokesman.
In the Sea of Okhotsk, the Krasin and Admiral Makarov icebreakers are leading two Russian icebound ships to open water.
Amsterdam Seaports, the ports serving the North Sea Canal region, ended 2010 with a 4% increase in transhipment traffic.
Panama's Shipping Registry, the largest in the world at the end of 2010, has finally exited the "grey list" compiled by signatories of the Paris Memorandum of Understanding (Paris MOU.)
Statoil ASA, Norway’s biggest energy company, shut production at the Snorre A platform and Vigdis oil field in the North Sea after a gas leak.
Central Asia-focused Tethys Petroleum announced Tuesday that it has received Kazakh State approval for its Doris oil pilot production project on the Akkulka field.
IMV Projects, a Wood Group company, has been awarded a multimillion dollar contract by AltaGas to provide full engineering, procurement and construction management (EPCM) services for the C$235MM Gordondale sour gas processing facility and associated gas gathering system.
The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant Rumaila field in Southern Iraq by increasing production by more than 10 percent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009. 
Harvest Natural Resources Inc., Houston, and its partner in the Antelope project in Utah’s Uinta basin signed a contract on Dec. 21, 2010, under which El Paso Midstream Group Inc. will provide the capital to build and operate a 25-mile, low-pressure gas gathering pipeline.
Generally speaking, it was not realistic to avoid horizontal competition completely. The competition can not only promoted development but also win-win out tome for the whole industry.
CGGVeritas says it has signed a technology cooperation agreement with BG Group to develop and deploy seismic advances across the exploration and production workflow. The companies plan to collaborate on such projects as broadband acquisition and processing, complex subsalt imaging, deep targets, and also unconventional gas.
Flooding has receeded and work on the Blue Energy Monslatt production pilot wells have recommenced, with the project located around 200 kilometres north-west of Rockhampton.
Euro Exchange Rate