Sep 2015

Italian major Eni believes it has found a lean gas field off Egypt with 30 trillion cf of gas in place

Despite weak European hub gas prices and less demand, Russia made more money from exports to Europe in the first half of this year than in the same period of 2014

The Oil & Gas Authority has approved the £5.6bn ($8.57bn) development of the Culzean gas and condensate field

Venezuela has secured a further $5bn in loans from China to help the oil producer boost output president Nicolas Maduro said during a trip to Beijing

India is easing rules for exploration and production in an effort to lure investment to boost output

Two agreements signed in Beijing 3 September serve to strengthen energy ties

BASF and Russian Gazprom plan to swap upstream assets in Russia for downstream assets in Europe

Thailand’s state-backed PTT Exploration & Production has reportedly expressed an interest in UK BG’s Thai assets.

The Oil and Natural Gas Corporation has taken a 15% stake in the Vankor oilfield

Chevron's long battle to beat back a $9.5bn Ecuadorian judgment against it over environmental damage in the Amazon has taken one step forward and another back

Many senior executives believe the oil price will remain low, resulting in calls for revisiting the government's tax policy

Australia’s Woodside Energy is making an opportunistic A$11.6bn ($8.1 bn) takeover offer for Papua New Guinea (PNG)-focused Oil Search

The UK’s offshore oil and gas bonanza has been an amazing success story: it contributed enormously to national wealth and made the country self-sufficient for a time

The Energy Information Administration says US efficiency gains are slowing which could lead to a steep decline in oil output

The government of Iran may set the price of oil between $42 and $50 in the state budget beginning March 2016

Executive director of the IOGP, Michael Engell-Jensen, talks about what's next for the energy industry

On 17 September 2015, the winners of this year's Petroleum Economist Awards were presented with their trophies at a black-tie ceremony held at the Banking Hall in the City of London, attended by their colleagues and peers from across the energy industry.

This award recognises a chief executive who has made an outstanding contribution to the company they lead, as well as to the wider industry, and who has earned the respect of staff, investors, and competitors alike.

This award recognises an energy minister who has made a significant contribution to their country’s energy sector, earning the respect of their peers and ministry staff, as well as domestic and international companies operating in the country.

This award seeks to identify those people who are most likely to shape the industry’s future in the years ahead.

This award recognises an executive who has made – or who has demonstrable potential to make - a major contribution to the industry, either regionally or globally, regardless of age or position within the company.

This award honours a person who has made an outstanding contribution to the energy industry and recognises the winner’s commitment to, and work for, the industry throughout their career.

This award recognises an energy company which has shown significant improvement across the business during the judging period, as well as having sound corporate and operating standards and clear evidence of innovation in its business operations.

This award recognises an energy company which has shown significant improvement across the business during the judging period, as well as having sound corporate and operating standards and clear evidence of innovation in its business operations.

This award recognises an energy company which has shown significant improvement across the business during the judging period, as well as having sound corporate and operating standards and clear evidence of innovation in its business operations.

This award recognises a company with an enterprising attitude to exploration which has pursued its business interests successfully, often within challenging environments.

This award recognises a downstream business which stands out amongst its peers for its sound corporate strategy, high operating standards and clear evidence of innovation in its business operations.

This award recognises a petrochemicals company which stands out amongst its peers for its sound corporate strategy, high operating standards and clear evidence of innovation in its business operations.

This award recognises an outstanding company in the field of construction, engineering, and operating services, which stands out amongst its peers for its sound corporate strategy, high operating standards and clear evidence of innovation in its business operations.

This award recognizes a company delivering technological services, tools or software to companies in the energy industry.

This award recognises an professional advisory firm which has consistently delivered excellent strategic or operational advice to its client(s), to deliver measurable improvement in their performance.

This award recognises an professional advisory firm which has consistently delivered excellent strategic or operational advice to its client(s), to deliver measurable improvement in their performance.

This award recognizes an institution offering commercial banking or project finance to the energy industry, whose expertise and involvement consistently delivers measurable value to its client(s).

This award recognises an institution offering legal advice and services to the energy industry, whose expertise and involvement consistently delivers measurable value to its client(s).

This award recognises an organisation which has devised, developed and implemented an initiative to reduce its ecological footprint.

This award recognises an exemplary ongoing CSR programme, with demonstrable positive impact on the communities it serves.

This award recognises an innovative communications programme designed primarily for stakeholders, and which has had a demonstrable impact on stakeholder relations and project investment.

This award recognises a project, brought onstream within the judging period, which has particular merit, will have an impact on the industry, involved specific expertise or sets a new standard in its sector.

Israel has sought to end years of upstream uncertainty, introducing new regulations for the development of offshore reserves, but obstacles remain

Demand has increased this year, but it is nowhere near large enough to soak up the extra supplies - instead the storage keeps filling up and the output keeps growing

With the low price of LNG offering little incentive to producers to commit to more investment, the focus upstream has been more than ever on cutting costs, but project deferrals are hardly being discussed

A subsidiary of Balfour Beatty, Barbican Bidco, has made a £61.37mn ($93m) bid for AIM-listed UK gas and power producer Alkane

The shuttered Hovensa Refinery in the US Virgin Islands has filed for bankruptcy, closing a long-running dispute between the owners of the facility and the Virgin Islands

Ongoing negotiations between Ukraine, Russia and the EC about a new winter package are nothing like last year

Only a third of the total on offer went, but it was a significant move for the Russian company

The find of the Zohr field offshore Egypt has sharpened keen interest in the gas potential of the east Mediterranean

The company have abandoned the multi-billion dollar drilling campaign after facing difficulty in the region

The takeover will create a midstream powerhouse with a vast network of pipeline and processing facilities across the US

Stakeholders are calling for a radical change of behaviour in order to achieve an outcome that's beneficial for all

A new government took office in September. The energy ministry is focusing on securing new production of oil and cleaning up the power-generation sector

Medium term outlook remains positive for country's LNG market

Demand for LNG in the resource-rich countries that make up the Asean region is set to explode

With oil prices low and forecast to remain that way, governments are looking to strengthen their hand through acquisitions

Until the Mineral Petroleum Resource Development Act (MPRDA) is passed investments are uncertain

Baghdad is facing a cash crisis, while losing control of its northern oil assets

The ability of pipelines to resist hostile attack is being sorely tested in Turkey, with Kurdish separatists attacking the gaslines

The conference in Aberdeen presented a "do or die" challenge for the UK's offshore interests amid tough circumstances

The UK is having to bring its ‘gas day’ into line with continental Europe, so that all gas grids are synchronised

Presidential candidate Hillary Clinton put energy issues front and centre on the campaign trail in September

Brazil’s national oil company saw its debt rating cut to junk status 10 September by Standard & Poors

As the country goes to the polls on 28 October, international oil companies will be watching intently

Almost a year in the job, Total’s new CEO has made cost-cutting and disposals his priorities as oil prices give little encouragement

Despite falling non-Opec supply and rising demand, the market still has a way to go