Category: Oil and Gas Industry

Australia Oil and Gas Industry


As per latest reports from Australia oil and gas industry, Santos, which is third biggest producer of oil and gas products in that country, has announced a drop of 8 percent in its year on year production for 2008. Santos assumes that in 2009 its production level would remain same.

Arrow Energy is a major name of oil and gas industry in Australia. It specializes in coal bed methane. It announced on 20th January 2009 that it has sold a stake of 10 percent in Arrow International, which is its overseas unit, to Royal Dutch Shell.

Libya Oil and Gas Industry


In a new development in Libya oil and gas industry, Verenex Energy, a Canadian company and Woodside Petroleum, an Australian oil company, have made hydrocarbon discoveries in Ghadames Basin in Libya. These discoveries were made in January 2009.

National Oil Corporation of oil and gas industry of Libya have found out oil and gas resources at D1-NC7A wildcat well in Ghadames Basin. This discovery has been made in conjunction with Arabian Gulf Oil Company in December 2008.

Oil Refinery Industry


Oil Refinery Industry holds immense importance for all the oil producing countries. If we focus on the global trend of this Oil Refinery Industry then we will see that this industry has experienced a lot of ups and downs over the decades.

In the period from 1970s to 1990s considerable amount of investment was made in the Oil Refinery Industry. But because of the oil shocks of 1973-74 and 1979-80 and because of the Asian Financial Crisis, the market demand was quite low. This resulted in surplus refining capacity of global Oil Refinery Industry.

Canada Oil and Gas Industry


Nexen, a major independent company of Canada oil and gas industry declared on 22nd January 2009 that its oil sands project at Long Lake has started to produce synthetic crude oil. This project is worth $5 billion.

In a recent development for oil and gas industry in Canada, Mackenzie valley gas pipeline project has met with approval from federal government of China. Developers of this pipeline had submitted this project in December 2007 but till January 2009 Canadian government had been silent on this issue. This project is worth $13 billion.

Oil Exploration


Oil exploration involves geological studies and technical examinations to detect the presence of crude oil. The exploration and extraction of oil is an expensive and high-risk operation and the industry comprises mainly of big corporations.

Argentina Oil and Gas Industry


Otto Energy, a major independent Australian oil and gas company has decided to formalize its 32 percent farm agreement with Oromin Explorations, which is a big company of Argentina oil and gas industry. It had previously examined Cuyana Basin in July 2008 and had declared that this area would have recoverable resources amounting to almost 131.6 million barrels.