Russia's President Vladimir Putin called on Statoil ASA (STO) Friday for activation of the Shtokman liquefied natural gas project off the Russian Arctic Circle, while Russia's Kommersant daily reported that the Norwegian company is preparing to leave the project.
General Electric Co. said it will invest $245.5 million in a research-and-development center in Rio de Janeiro. The center, which should be operational in the second half of 2013 and employ 400, will focus on development of biofuels, alternative-energy systems, intelligent systems and systems integration, particularly in the logistics area, said Ken Herd, GE's global…
Eni has made a significant oil discovery at the Emry Deep exploration prospect, located in the Meleiha Concession, in the Western Desert of Egypt, 290 km southwest of Alexandria.
Resource managers now have identified a scientific method to determine the source of oil found in the waters off Southern California and differentiate between naturally seeped oils and those produced by offshore oil and gas production.
Oil futures eked out a gain Friday, as traders remained wary of staking out large positions following inconclusive talks with Iran and a long weekend in the U.S.
Mediterranean Oil and Gas Chief Executive tells Rizgone that the firm is “not about to walk away” from its Ombrina Mare project.