oil exploration

BP to spend $1 billion on hundreds of job cuts, restructuring

BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring program announced on Wednesday following steep falls in oil prices.

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Oil tycoon Dan Gertler wants partners for Congo oil development

Dan Gertler of Oil of DR Congo wanted partners to develop oil in Lake Albert in Congo.

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Cairn Energy assures exploration in Africa and Ireland have more chances of success

Cairn Energy said its planned explorations in Northwest Africa and Ireland yielded up to 25% chance of success compared to its exploratory project in Greenland.

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Cobalt fails to find oil in Gulf of Mexico well

Cobalt announced failure in Gulf of Mexico oil exploration site.

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China pushes to develop US$4.9 billion worth project in disputed East China Sea gas

China intend to develop seven latest gas fields worth US4.9 billion in the East China Sea, a territory claimed by Japan.

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Indian companies buy Mozambique's Videocon Industries

Oil India Ltd., and Oil & Natural Gas Corp., will acquire Mozambique's Videocon Industries Ltd., to increase their overseas production and oil reserves.

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