Royal Dutch Shell Plc halted some oil production and began evacuating workers from a U.S. Gulf of Mexico platform, the company said on Saturday, as a new tropical storm flared. Beta, the 23rd named storm of the Atlantic hurricane season, formed in the Bay of Campeche and was forecast to gradually strengthen and soak the…
U.S. drillers this week added oil and natural gas rigs for the second time in three weeks as a recent increase in energy prices from coronavirus-linked lows prompted some to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose by one to 255 in the week to…
HOUSTON (ICIS)–A tropical depression in the Gulf of Mexico could strengthen into a hurricane by Sunday, threatening offshore oil wells as well as the ports, chemical plants and refineries along the Texas coast, meteorologists said. The forecast still has quite a bit of uncertainty as shown in the following map. The shaded area shows the…
A prospect being drilled offshore South Africa is likely to contain more oil than an earlier discovery in the same region, according to Canadian firm Africa Energy, which is part of the operating consortium. Drilling began at the Luiperd well in block 11B/12B on 28 August. It is near Brulpadda, where consortium leader Total made…
New Delhi: After facing years of payment default, the country’s largest oil and gas explorer Oil and Natural Gas Corporation has finally exited from Sudanese oilfields, relieving itself of yet another toxic overseas asset. Company sources said that all the three overseas investors in the Sudanese oilfield including ONGC Videsh Ltd (OVL), the overseas investment…
The Supreme Court Wednesday upheld the foreign arbitration tribunal award in favour of Vedanta Ltd (formerly Cairn India Ltd) and Videocon Industries Ltd to recover USD 476 million from the government, instead of USD 198 million capped by it, for developing Ravva oil and gas fields. In a set back to the Centre, the top…
Dutch global geological survey firm Fugro has secured a fourth consecutive contract from India’s state-owned Oil & Natural Gas Corporation (ONGC) to provide integrated survey services. Under the three-year contract, Fugro will provide infield developments on the east and west coasts of India. Work on the latest contract is currently underway.Survey services under the contract…
16 Sept 2020-JERUSALEM: Israel’s Petroleum Council gave its approval on Monday for Chevron Corp to take over Noble Energy’s stakes in Israeli natural gas fields, which are a key component in Chevron’s $5 billion acquisition. Chevron agreed in July to buy the Texas-based oil and gas producer, which operates two large offshore gas fields in…
16 Sept 2020-Country’s most prolific Barmer oilfield operated by billionaire Anil Agarwal-led Cairn Oil and Gas has been reduced to operate on temporary permission from the government which has denied full 10-year extension to the company’s production sharing contract claiming higher share of profit petroleum. After prolonged delays, the government had in October 2018 agreed…
15 Sept. 20-TEHRAN- The National Iranian Oil Company (NIOC) ranked first among the world’s largest oil companies in terms of total oil and gas discovery in 2019, with the discovery of 4.973 billion barrels of equivalent hydrocarbon reserves, Shana reported on Monday. Seyed Saleh Hindi, the NIOC’s director of exploration, stated in a letter to…
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