Romania's government will send a draft law on royalty taxes for the oil and gas sector to parliament in September, Deputy Finance Minister Dan Manolescu told an energy seminar on Monday.
The Abu Dhabi National Oil Company (Adnoc) is on track to hit its target of raising sustainable oil production capacity to 3.5 million barrels a day in 2017, a top oil and gas industrial official said.
Abu Dhabi-based International Petroleum Investment Co (IPIC), which sold its controlling stake in a South Korean refiner in 2010 for over $2 billion, has filed a request for arbitration, seeking compensation for a tax payment stemming from the sale, according to a South Korean official.
Macro Sensors have introduced its Offshore LVDT Linear Position Sensors for marine and offshore applications. Because of their high accuracy and long-term reliability when operating in water, Macro Sensors Offshore LVDT Linear Position Sensors are quickly becoming the preferred technology in marine and offshore applications, especially for elongation measurement as part of long-term finite element analysis of pipelines, derricks, moorings and other critical high-stress members on offshore oil platforms that must be constantly monitored to ensure ongoing drilling platform stability.
In a bid to increase foreign investments in its oil and gas sector, Iran has introduced a new mechanism for its future oil and gas contracts.
Saudi Arabia's government is expected to announce spending cuts and a drive to raise revenue from new sources as it lays out a strategy to cope with an era of cheap oil, people familiar with Saudi policy-making said.
Iran's crude OIL EXPORTS are set to hit a six-month high in December as buyers ramp up purchases in expectation that sanctions against the country will be lifted early next year.