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Oil & Gas

House of Lords committee calls for 'urgent' fracking regulation in UK

The UK urgently needs to regulate fracking, so that the country's economy can start benefiting from the opportunities created by shale gas.
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Oil & gas industry contributes £35 billion annually to UK economy

Although oil prices are persistently high and production is declining in the UK, the outlook for the oilfield services industry is very positive.
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Domestic demand to fuel Russia's petrochemical industry growth

The Russian petrochemical industry is set to benefit from increasing domestic demand over the medium term, with non-oil industrial sectors emerging as the strongest driving force for growth.
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Petronas to build $27 billion refinery complex

Malaysia's state-owned oil and gas company Petronas has announced plans to invest $27 billion in the construction of a new refining and petrochemical complex in the southern state of Johor.
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Chevron signs renewed agreement for shale development in Argentina

U.S. energy giant Chevron Corporation has announced plans to invest more than $1.6 billion to develop shale reserves in Argentina.
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Japan launches first fracking operations

Commercial production of shale oil in the northern prefecture of Akita will start at a much smaller scale than in the United States.
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Global refining industry outlook predicts growth in 2014, 2015

Chinese refiners are predicted to add the largest proportion of new refining capacity planned globally in 2014/2015, with the launch of a further 1.2 million bpd.
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UK oil & gas companies upbeat for short-term growth

Over the next two years UK oil and gas companies anticipate that they will create as many as 39,000 new jobs.
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TransCanada wins firm natural gas transportation commitments for ANR

Calgary-based pipeline operator TransCanada Corp. has secured long-term commitments for the transportation of nearly 2 billion cubic feet of natural gas per day via its ANR pipeline system.
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BP to close Australian refinery in 2015

BP has announced plans to close down its refinery in Brisbane, citing an inability to compete with large refinery complexes in the Asia Pacific region.
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