Anglo-Dutch supermajor Shell announced it had reached an agreement with Cove Energy on the terms of a recommended cash offer which values the latter at 1.12 billion British pound ($1.8 billion).
The Company has completed the testing programme for the Shaikan-4 deep appraisal well, drilled 6 km to the west of the Shaikan-1 discovery well in the Kurdistan Region of Iraq.
Increased output from Libya, recovering from the turmoil of civil unrest, helped Austria's OMV boost production slightly in the first quarter, the company said in a trading statement released on Tuesday.
Yemen LNG resumed its operations on 21 April after a blast on its feed pipeline at the end of March had stopped production, the Total-run company has announced.
Gulf Capital, an Abu Dhabi-based private-equity company, is planning investments in the health care, food, and oil and gas industries across the Persian Gulf, each worth up to $100 million, a senior executive said.
Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, will invest $500 million in Argentina this year in an effort to boost production, Mines and Energy Minister Edison Lobao said Friday.
DNO International ASA, announced that it has signed an amended concession agreement with the Government of the Emirate of Ras Al Khaimah, RAK Gas LLC and Dahan Petroleum Ltd ("Dahan") granting Dahan exploration rights to certain outlying areas of the Saleh concession in exchange for Dahan covering the cost of DNO International's and RAK Gas' participation in such exploration program.
Energy major BP has raised its estimates of the gas reserves potential of its Block 61 concession in central Oman to a staggering 100 trillion cubic feet (TCF).