News

A senior official with Iran’s Research Institute of Petroleum Industry (RIPI) says the country enjoys vast shale gas reserves in the western province of Lorestan.   Addressing a press conference in Tehran, Mohammad Reza Kamali, director of RIPI’s upstream faculty, said huge reserves of shale gas have been located in the region. He said the faculty is currently working on ...

Another round of job cuts has reportedly been announced to Odfjell Drilling’s workforce. Stavanger’s Aftenblad reported that around 200 employees would be given a pink slip over a contract loss for five Statoil’s installations offshore Norway. Further details about locations impacted by this decision are still unknown, but the Norwegian news website informed that the Norwegian section will be the ...

Iran’s petroleum minister said he expects the country to sign an energy MoU with South Africa. Bijan Zangeneh, after a meeting with Tina Joemat-Pettersson, his South African counterpart, expressed hope that the two countries will sign a memorandum of understanding (MoU). “It is expected that the two countries will sign an MoU on Sunday (April 24),” said Zanganeh. He said ...

Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have time and again shown interest in getting involved in development of this untapped field which Iran shares with neighboring Iraq.   Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have time and again ...

Iranian Minister of Petroleum Bijan Zangeneh says Tehran supports moves like the Doha conference which are aimed at tackling the consistent market volatility, saying that OPEC member “Iran has never had a role in the market instability”.   During a live radio interview, Zangeneh said certain oil-producing countries opposed lifting of sanctions on Iran right from the beginning and for ...

The companies latest fleet report confirms that Shell have awarded a 2 year extension for the Noble Hans Deul at the reduced rate which will take effect from August 2016. The contract was originally started in August 2014 and the extension secures work for the rig until August 2016. The new terms state: ‘The client has the right to early ...

Iranian Minister of Petroleum Bijan Zangeneh said Iran has signed a deal with European customers for the export of 0.7 million barrels per day. “The European Union regards Iran as a creditable and reliable partner for energy supply,” said the Iranian official following a meeting with European Union Commissioner for Climate Action and Energy Miguel Arias Canete here in Tehran ...

Royal Dutch Shell (RDSa.L) could sell some of its older, lower grade North Sea assets to improve the quality of its portfolio, CEO Ben van Beurden said on Tuesday, part of a two-year programme to help finance its purchase of gas major BG Group. After completing the $52 billion acquisition of BG in February, Shell said it would sell $30 ...

A record number of rigs are drilling for oil and gas on the Arabian peninsula even as drilling in the rest of the world tumbles in response to low prices. There were almost 290 rigs active in Saudi Arabia and the neighboring states of Kuwait, the United Arab Emirates and Oman in March, according to oilfield services company Baker Hughes. ...

A senior official with National Iranian Oil Company (NIOC) says the company is considering cooperation with Germany’s Wintershall in research and development (R&D) projects. Ali Kardor, NIOC’s deputy managing director for investment and finance, told Shana that Wintershall has indicated willingness to cooperate with NIOC in research and development areas and the two companies may start cooperation in the future. ...