Global Oil and Gas News Update Jan 2014

• Statoil buys into new Greenland block – Statoil, along with partners ConocoPhillips and Nunaoil, has been awarded a block offshore Greenland’s northeast coast where the Norwegian oil company will be the operator.
• Cairn abandons offshore Morocco well – Oil and gas explorer Cairn has decided to plug and abandon its FD-1 wildcat exploration well offshore Morocco as it had not encountered its target reservoir.
• Southern gas corridor to Europe to go ahead: BP – The Shah Deniz consortium announced the final investment decision (FID) for the Stage 2 development of the Shah Deniz gas field in the Caspian Sea, offshore Azerbaijan, according to consortium operator BP. Iran buys 100,000 tonnes sugar from India in rare deal.
• RWE completes 3D seismic in promising Suriname block – German energy company RWE has announced the completion of its 3D seismic survey off the coast of Suriname in South America.
• Eni makes new oil and gas discovery in Barents Sea – Eni has made a new offshore oil and gas discovery in the Norwegian Barents Sea, approximately 240 km from Hammerfest in the north of the country.
• Dabbagh Group is planning to sell a 19 per cent stake in its lubricant business.
• RevOmax Lubricants Announces a Technology Breakthrough in Custom-Blended Lubrication Extenders at The PRI Show 2013.