WorldOil Texas congressman receives industry award Congressman Lamar Smith (Republican – Texas, 21st District), chairman of the House Science, Space and Technology Committee, was honored on Monday with the presentation of the “Congressman of the Year Award” by the Texas Alliance of Energy Producers. Orlen buys oil and gas assets in Canada, Poland for $392 million PKN Orlen SA, Poland’s biggest oil company, is expanding its Canadian and Polish operations through two $392 million acquisitions, taking advantage of plunging crude prices. Repsol, Armstrong restructure Alaska North Slope project Repsol and privately held Armstrong Oil and Gas have reached an agreement to strategically re-align their interests in their Alaska North Slope exploration and development venture. Oil seen below $100 until 2020 by ex-IEA chief due to U.S. shale Oil prices won’t rebound to $100/bbl before 2020 to 2025, when U.S. shale production will gradually start to decline, according to a former head of the International Energy Agency. Oil and gas evaluating capital options as MLPs, IPOs drop in third quarter Amid oil prices at record lows and potential interest rate hikes, the third quarter of 2015 saw a marked decrease in the number of North American oil and gas initial public offerings (IPOs) and master limited partnerships (MLPs). RMEC increases yard by 150% to meet industry needs Oilfield services firm RMEC has completed a significant expansion to its premises in response to the growing demand from oil and gas companies looking to rent equipment rather than purchase costly kit. Oil traders targeting Iran for $1 billion in gas sales Iran will need to import about 20% more gasoline to meet pent-up demand in the first year after economic sanctions are lifted, creating a market for some $1 billion in fuel sales from abroad, according to traders and analysts. Vanguard Natural Resources closes merger with Eagle Rock Energy Partners Vanguard Natural Resources has announced the closing of its merger with Eagle Rock Energy Partners. Wireless Seismic announces purchase of RT System 2 by PT Elnusa Tbk Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Indonesian seismic contractor, PT Elnusa Tbk (Elnusa), after comprehensive system field trials in north Sumatra, Indonesia. Petrofac secures Shell training contract in Iraq Petrofac has been awarded a multi-million dollar technical training contract with Shell Iraq, achieving their fourth win with a major operator in the country. Jee secures contract extension with BP Jee Ltd., an independent multi-discipline subsea engineering and training firm, has secured a contract extension with BP for the provision of integrity management services and in-line inspection engineering support in the North Sea.