Saudi Arabaia is breaking ranks from OPEC to offer increased supply to Europe, as Libya and Iraq struggle to protect production and processing facilities from the effects of civil unrest.
GE Oil & Gas has announced that its Wellstream business, acquired in March, has been awarded a long-term, flexible pipe and subsea equipment logistics services contract by Petrobras). The long-term contract is initially valued in excess of US$ 200 million.
Chevron has been awarded a five year permit worth € 50 million (£71.87 million) to explore a huge shale gas play in Northeastern Bulgaria.