Petroleum Economist
Eni to fast-track Egyptian gas field discovery
Italian major Eni believes it has found a lean gas field off Egypt with 30 trillion cf of gas in place
Gazprom exports less but earns more than 2014
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
UK OGA approves major gas field
The Oil & Gas Authority has approved the £5.6bn ($8.57bn) development of the Culzean gas and condensate field
Venezuela secures another $5bn in China loans
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 shifts fiscal regime to encourage investment
India is easing rules for exploration and production in an effort to lure investment to boost output
Russia and China strengthen energy ties
Two agreements signed in Beijing 3 September serve to strengthen energy ties
Gazprom and BASF follow through with cash free swap
BASF and Russian Gazprom plan to swap upstream assets in Russia for downstream assets in Europe
PTTEP interested in BG’s Thailand assets
Thailand’s state-backed PTT Exploration & Production has reportedly expressed an interest in UK BG’s Thai assets.
India's ONGC expands Russian footprint
The Oil and Natural Gas Corporation has taken a 15% stake in the Vankor oilfield
Ecuador fights Chevron in Canada over environmental damage
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
UK group argues for tax cuts if low oil prices remain
Many senior executives believe the oil price will remain low, resulting in calls for revisiting the government's tax policy
Woodside targets Oil Search in $8bn takeover bid
Australia’s Woodside Energy is making an opportunistic A$11.6bn ($8.1 bn) takeover offer for Papua New Guinea (PNG)-focused Oil Search
UK oil and gas production gracefully coming to an end
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
US shale drillers' efficiency gains slowing down
The Energy Information Administration says US efficiency gains are slowing which could lead to a steep decline in oil output
Iranian government pessimistic about 2016 oil price rise
The government of Iran may set the price of oil between $42 and $50 in the state budget beginning March 2016
'The oil price will rise again', says IOGP chief
Executive director of the IOGP, Michael Engell-Jensen, talks about what's next for the energy industry
Award winners 2015
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.
Chief Executive of the Year, 2015: Ben Van Beurden, Royal Dutch Shell
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.
Minister of the Year, 2015: Pedro Joaquín Coldwell, Minister of Energy, Mexico
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.
Future Leader, 2015: Miguel Castillo, Chief Executive, Castillomax Oil and Gas
This award seeks to identify those people who are most likely to shape the industry’s future in the years ahead.
Energy Executive of the Year, 2015: Hilary Mercer, Royal Dutch Shell
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.
Legacy Award, 2015: Saad Al-Driweesh, Saudi Aramco
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.
Energy Company of the Year, 2015 - large cap: Royal Dutch Shell
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.
Energy Company of the Year, 2015 - mid cap: Cheniere Energy
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.
Energy Company of the Year, 2015 - small cap: Victoria Oil & Gas
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.
Exploration Company of the Year, 2015: Eni
This award recognises a company with an enterprising attitude to exploration which has pursued its business interests successfully, often within challenging environments.
Downstream Company of the Year, 2015: Valero
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.
Petrochemicals Company of the Year, 2015: PTT Global Chemical
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.
Service Company of the Year, 2015: Larsen & Toubro
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.
Technology Company of the Year, 2015: ClearSign Combustion
This award recognizes a company delivering technological services, tools or software to companies in the energy industry.
Energy Consultancy of the Year, 2015 - financial: HSBC
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.
Energy Consultancy of the Year, 2015 - performance improvement: Palmer International Partnership
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.
Energy Finance Provider of the Year, 2015: Chrysalix Energy Venture Capital
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).
Legal Services Provider of the Year, 2015: Bracewell & Giuliani
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).
Cleaner Energy Initiative of the Year, 2015: GE Oil & Gas
This award recognises an organisation which has devised, developed and implemented an initiative to reduce its ecological footprint.
Corporate Social Responsibility (CSR) Programme of the Year, 2015: Repsol
This award recognises an exemplary ongoing CSR programme, with demonstrable positive impact on the communities it serves.
Stakeholder Communications Programme of the Year, 2015: Amec Foster Wheeler
This award recognises an innovative communications programme designed primarily for stakeholders, and which has had a demonstrable impact on stakeholder relations and project investment.
Project of the Year, 2015: Barzan Gas Project (RasGas)
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.
Uncertainty surrounding Israel's upstream activity
Israel has sought to end years of upstream uncertainty, introducing new regulations for the development of offshore reserves, but obstacles remain
What's behind the low US natural gas prices?
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
LNG reached an equilibrium as supplies keeps coming
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
Balfour Beatty bids $93m for UK Alkane
A subsidiary of Balfour Beatty, Barbican Bidco, has made a £61.37mn ($93m) bid for AIM-listed UK gas and power producer Alkane
Hovensa files for bankruptcy, ending a long-running dispute
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
Kiev negotiates a winter package with Russia and EC
Ongoing negotiations between Ukraine, Russia and the EC about a new winter package are nothing like last year
Gazprom held auctions for winter gas delivery
Only a third of the total on offer went, but it was a significant move for the Russian company
Eni's Zohr field discovery speeds Egypt's gas revival
The find of the Zohr field offshore Egypt has sharpened keen interest in the gas potential of the east Mediterranean
Shell concedes defeat in the Arctic after poor results
The company have abandoned the multi-billion dollar drilling campaign after facing difficulty in the region
Energy Transfer wins $37bn Williams deal
The takeover will create a midstream powerhouse with a vast network of pipeline and processing facilities across the US
Can producers adapt and collaborate in order to grow?
Stakeholders are calling for a radical change of behaviour in order to achieve an outcome that's beneficial for all
Trinidad’s new energy minister seeks to tackle oil production
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
Australian LNG: cost deflation offsets low prices
Medium term outlook remains positive for country's LNG market
Asean LNG demand to grow five-fold over next decade
Demand for LNG in the resource-rich countries that make up the Asean region is set to explode
Asian NOCs eye upstream build amid low oil prices
With oil prices low and forecast to remain that way, governments are looking to strengthen their hand through acquisitions
Key petroleum legislation delayed in South Africa
Until the Mineral Petroleum Resource Development Act (MPRDA) is passed investments are uncertain
Iraq struggles to plug the financing gap amid low oil prices
Baghdad is facing a cash crisis, while losing control of its northern oil assets
Multiple explosions rock Turkish gaslines
The ability of pipelines to resist hostile attack is being sorely tested in Turkey, with Kurdish separatists attacking the gaslines
Hope for UK oil industry at Offshore Europe conference
The conference in Aberdeen presented a "do or die" challenge for the UK's offshore interests amid tough circumstances
European Commission brings UK gas day into line
The UK is having to bring its ‘gas day’ into line with continental Europe, so that all gas grids are synchronised
Clinton voices opposition to the Keystone pipeline
Presidential candidate Hillary Clinton put energy issues front and centre on the campaign trail in September
Petrobras debt rating downgraded to junk status
Brazil’s national oil company saw its debt rating cut to junk status 10 September by Standard & Poors
Argentina's election could mark a new era for the oil industry
As the country goes to the polls on 28 October, international oil companies will be watching intently
Total aims to cut assets by $10bn by 2017
Almost a year in the job, Total’s new CEO has made cost-cutting and disposals his priorities as oil prices give little encouragement
Oil market out of balance despite rising demand
Despite falling non-Opec supply and rising demand, the market still has a way to go