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Oil & Gas

Canada hikes oil spill liability cap to $1 billion

The reforms come at a time when several large companies have expressed interest in starting or expanding operations to drill in Canadian offshore areas.
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Questerre Energy announces results from resource evaluation

Canada's Questerre Energy Corp. has stated that results of the resource assessment of its acreage in the Montney Formation in the Kakwa-Resthaven area in Alberta revealed total reserves of about 130 million barrels of oil equivalent
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Honeywell to automate Rosneft refinery in southern Russia

Honeywell has signed an agreement with NK Rosneft, a leading Russia-based oil and gas producer, as the main automation contractor for the construction of its new refinery at Tuapsinskiy NPZ, Southern Russia.
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US, Mexico sign agreement to focus on joint oil & gas projects

This agreement will make it possible for the United States and Mexico's national oil and gas company Petroleos Mexicanos, or Pemex, to further develop resources in the Gulf of Mexico.
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European refineries struggle to stay afloat

European refineries are losing ground to their counterparts across the Atlantic, where the U.S. refining sector is flourishing thanks to its access to cheap and abundant feedstock produced from unconventional oil.
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Ukraine to focus on resources development in search for energy independence

Ukraine will keep its position as a key energy sector partner of the European Union, particularly in regard to gas transportation and storage, according to the EU Commissioner for Enlargement and European Neighbourhood Policy.
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Canadian oil company to develop existing assets amid rising North Sea investments

Canadian oil and gas company CNR International, Inc. is looking to take advantage of a recently introduced tax break and invest more than $470 million in one of the oldest North Sea oil fields.
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EIA report revises global shale oil and gas reserves upwards

Global reserves of shale-based resources push up the world's total potential oil reserves by 11 percent and natural gas reserves by 47 percent.
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French parliamentary commission calls for change in fracking ban

Hydraulic fracturing has once again become an issue of heated debate in France, as political parties, industries and the public have all shared different opinions about using the technique to drill for shale gas and oil.
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US imposes sanctions on Iran's petrochemical sector

The United States is imposing sanctions on Iran's petrochemical industry in a bid to cut off funds that the Islamic republic might use for developing its nuclear program.
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