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Upstream News

Global coverage of exploration and production, field development, shale, fracking and other upstream sector developments

30th May 2012

Spanish oil firm Repsol will stop looking for oil in Cuba after hitting a dry well drilled at a cost of more than USD 100 million, it said in a statement on Tuesday.Speaking to investors and reporters about...
28th May 2012

The US Ninth Circuit Court of Appeals on Friday rejected efforts to stop Shell from exploration drilling this summer in the Beaufort Sea. It also denied challenges to the company’s plans to drilling in the...
25th May 2012

Spanish oil company Repsol says an offshore block near Brazil's coast contains at least 1.2 billion barrels of oil equivalent, one of the world's largest finds this year.Testing confirms the potential...
25th May 2012

Talks regarding Shell's participation in Shtokman are under way, according to reports. There are different project configurations under discussion now but Gazprom will keep a 51 per cent stake," a source...
24th May 2012

The US is trying to help New Delhi find alternative sources of supply as it grapples with rising oil prices due to sanctions on Iranian supplies.   "We are working with countries around the world...
24th May 2012

Tapping Brazil's huge offshore oil reserves will require foreign investment that only cash-rich Chinese banks are in a position to provide, industry experts said.Alvaro Teixera of the Brazilian Petroleum,...
21st May 2012

Bangladesh has found its first oil, in two gas fields in the northeastern Sylhet region, the chairman of the state-run Oil, Gas and Mineral Corporation (Petrobangla) said on Sunday."This is first time that...
21st May 2012

Technology developed to measure the force of gravity in outer space has been adapted so that it can be used to prolong the life of the North Sea oil and gas industries.Astrophysicists at Aberdeen University...
17th May 2012

East Africa’s future as a major liquefied natural gas (LNG) exporter to Asia was cemented this week after fresh discoveries were announced by Italian oil group Eni and UK companies BG Group explorer Ophir...
16th May 2012

Chinese oil giant Sinopec will begin extracting shale gas from a site in the southwestern province of Sichuan in early June, it announced this week.The first such production in the country will be completed...

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