Rosneft buys oil stake in Gulf of Mexico

Russian oil and gas company Rosneft has bought a stake in the Gulf of Mexico, taking a third (30%) of ExxonMobil’s 20 deepwater exploration blocks. Under the agreement, ExxonMobil will keep a 70% stake in each block and remain the main operator and Rosneft’s subsidiary Neftegaz America Shelf will own the rest. Igor I. Sechin, President […]

Oil industry pledges to halve leaks

The offshore oil and gas industry has renewed its pledge to halve the number of hydrocarbon releases – often a precursor to major leaks – by the beginning of 2013. This was the consensus at a seminar in Aberdeen yesterday run by trade body Oil & Gas UK and safety group Step Change in Safety, […]