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NEW YORK (Bloomberg) — BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish, and coral that the public values at $17.2 billion, according to a financial accounting released on the seventh anniversary of the disaster. The tally, published Thursday in the journal Science, is based on a survey of thousands of Americans that asked what they’d be ...

PERTH, Australia — Oilex Ltd. has announced the award of two key contracts to Schlumberger and Baker Hughes as part of its 2017 work program at the Cambay PSC in India. Schlumberger and Baker Hughes will advise on the optimal well and stimulation design required to achieve potential commercial flowrates. The Company has a significant multi-Tcf gas resource at the Cambay ...

CHICAGO (Bloomberg) — Exxon Mobil Corp. won’t be allowed to bypass U.S. sanctions against Russia to resume drilling for oil in a joint venture that seeks to tap billions of barrels of that country’s crude. Treasury Secretary Steve Mnuchin said the decision was made after consultation with President Donald Trump, according to a statement on Friday. Exxon’s request for a ...

HOUSTON — Schlumberger President of Operations, Patrick Schorn, and YPF Chairman, Miguel Ángel Gutiérrez, have signed an agreement to start a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, Neuquén. The agreement, signed in YPF´s offices in Buenos Aires involves a $390-million phased investment by Schlumberger, which includes a material contribution in kind of its services at ...

MOSCOW — Gazprom Neft has completed drilling of its first production well within the NP-8 stratum at its Novoportovskoye field. The total length of the constructed well shaft is 4.2 km, including a 1.45-km horizontal section. The oil inflow obtained confirms geologists’ forecasts on prospects for developing this stratum. The NP-8 stratum, currently being brought into commercial production, is expected to deliver approximately 25% of all oil produced at the Novoportovskoye ...

MOSCOW — Lukoil commenced transportation of the topside of a fixed offshore ice-resistant platform (LSP-2), intended for Phase 2 of Vladimir Filanovsky field in the Caspian Sea. A tugboat caravan will tow the topside, weighing over seven thousand tonnes, towards its destination in the Caspian Sea. The substructures of the platform were brought to the sea and installed in the ...

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TEHRAN, Apr. 10 (Shana) — The Research Center of Petroleum Industry (RIPI) is to host the first international conference on enhanced oil recovery (EOR) and improved oil recovery (IOR) methods in oil projects on April 22. The three-day conference is being held jointly by Iran Inter-Pore Society, the Iranian Association of Polymer and Chemical Engineers and the RIPI. Besides presentation ...

TEHRAN, Apr. 09 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said presence of foreign developers in oil and gas projects in Iran would ensure economic stability and development in oil industry while keeping the enemies away. Addressing the Parliament on Sunday, the official said Iran can already cooperate with a limited number of foreign firms in oil projects; a ...

TEHRAN, Apr. 09 (Shana) — Iran says foreign direct investments (FDI) would be needed for developing oil fields in Caspian Sea. Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said foreign investors and developers would engage in development of oil and gas fields in the Caspian Sea in the wake of the eased sanctions on Tehran’s economic ...