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May 26, 2015 4:32 pm

Oil Industry Price War and Deflation

Indonesia Approves Development Plan for Kisaran PSC in Sumatra

Indonesia government approves the development plan for the Kisaran Production Sharing Contract in Sumatra.

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ONGC Videsh’s FY 2015 Net Profit Falls 57% Due Mainly to Lower Oil Prices

ONGC Videsh recorded a 57.16 percent decline in net profit for financial year 2015 that ended March 31 due mainly to lower oil prices.

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Taiwan Offers South China Sea Peace Plan to Avert ‘Major Conflict’

Taiwan proposes a peace initiative to resolve territorial disputes in the South China Sea that it says will reduce tensions that have put Beijing at odds with its neighbours and the United States.

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Malaysian Barakah’s Subsidiary PBJV Receives LOA from Shell

Malaysia’s Barakah Offshore receives a letter of award from Shell for pipeline inspection gauges equipment and services.

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Brazil Petroleum Group Suggests Changes to National-Content Rules

Brazil’s national oil-industry association, IBP, releases a list of suggestions for regulatory changes that it hopes will boost exploration activity in the wake of falling oil prices, high costs, delays and a graft scandal at Petrobras.

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