News / International
Oil Dives to $63 on Unexpected Stockpile
The price of crude oil plummeted nearly 6% on the New York Mercantile Exchange Wednesday, settling just above $63 a barrel. While investments in the energy commodity have been spurred by hope of an economic turnaround, US inventories surged today, pointing to a decrease in demand. Saudi Aramco’s ‘Smart Water’ May Aid Oil Production
Oil and water don't mix. That's why water is used to help drive oil out of a reservoir and maintain reservoir pressure in a process known as waterflooding. GDF SUEZ chooses Aberdeen as new home for its UK E&P operations base
GDF SUEZ, one of the world’s leading energy providers has underlined its long-term commitment to the North Sea by investing £6 million in establishing its UK Exploration and Production (E&P) operational centre in Aberdeen. Iraq Cabinet oks law establishing National Oil Co
The Iraqi cabinet approved a law providing for the establishment of a national oil company for the first time in decades, a government spokesman said. Oman PDO extends deadline for oil bid interest
State-run Petroleum Development Oman (PDO) said on Wednesday it had extended the deadline for prequalification of contractors to compete for up to $7 billion in contracts to work on the country's oilfields. Saudi Aramco’s oil output balloons
Saudi Aramco's oil output capacity reached 12 million barrels per day in June when three new projects were brought on stream. Petrofac partnership awarded us$2.1 billion Abu Dhabi integrated gas development contract
Petrofac, the international oil & gas services provider can confirm that its 50% owned Joint Venture, Petrofac Emirates, in partnership with GS E&C, has received a letter of award from GASCO for a contract worth approximately US$2.1 billion with a value to Petrofac Emirates of around US$1 billion. Venezuela Agrees to Invest in Iranian Oil Blocks
Venezuela has agreed to invest in the exploratory operations and development of 12 Iranian oil blocks, Iranian oil minister said on the sidelines of a seminar on Compressed Natural Gas (CNG) industry in Tehran. 
