Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced an oil discovery at the Keskesi East-1 exploration well in Block 58 offshore Suriname. Keskesi East-1 encountered targets in the upper Cretaceous-aged Campanian and Santonian intervals. The shallower Campanian interval contains 58 meters (190 feet) of net oil, volatile oil and condensate pay…
MOSCOW — Russian state oil major Rosneft is courting investments from global trading houses to help develop one of the world’s biggest oil deposits, after talks with other possible partners stalled following a collapse in oil prices, four sources told Reuters. Rosneft is in discussions with Vitol, Glencore and Gunvor, among others, over investments…
In a shift away from fossil fuels, Norway is planning to deep dive for metals as part of its plan for a greener future. Having gained most of the country’s wealth from its successful oil industry, Norway is now looking to get ahead of the curve in metals by mining copper, zinc and other…
Dublin-based United Oil and Gas said its main asset in Egypt continued to perform strongly in the final part of 2020.The company said production from the Kuwait Energy Egypt operated Abu Sennan Licence in Egypt averaged 2,243 boepd (barrels of oil equivalent per day) in the final quarter of last year, comprising 1,960 bopd…
Natural gas reserves in the United States fell by 2 percent in 2019 due to low prices, the Energy Information Administration said in an update on the country’s oil and gas reserves. Henry Hub prices for natural gas in 2019 fell by more than 21 percent from 2018, the authority noted, adding that…
WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a lot of difficulties, including the danger of more loan defaults. Fitch Ratings warned about the continued threat of defaults in a recent update,…
Wednesday’s auction of oil and gas drilling rights on the Alaskan Coastal Plain was worse than disappointing. The lease offering was a culmination of decades of work, opening to development 1.5 million acres that many considered the biggest single prospect in America. The high expectations fell embarrassingly flat when the bids were opened. Half…
Tehran — The National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by 355,000 b/d at 33 fields. Eight projects worth $1.2 billion were signed on Jan. 11, potentially boosting oil production by 95,000…
Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) started extracting gas from a new part of the Haripur gas field located in Jaintapur upazila in Sylhet, reports UNB. Gas extraction from the deepest layer- at a depth of 1,998 meters- started on 4 January. Sources at BAPEX said even oil maybe found in…
The Federal Government is estimated to generate a total revenue of N7.9bn from the 161 companies shortlisted to advance to the final stage of the marginal fields bid round launched seven months ago. The Department of Petroleum Resources had announced on June 1, 2020 the start of the 2020 Marginal Field Bid Round,…
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