Mozambique’s jihadist violence has forced the French energy firm Total to suspend work at its multibillion-dollar liquefied natural gas project in the country’s northern Cabo Delgado province. After the rebels’ Jan. 1 attack on Quitunda village, just outside the fence of the gas project, the company removed most of its workforce, estimated at…
Dubai — Kuwait has made three oil and gas discoveries, including one next to the giant Burgan field, the country’s biggest, potentially helping to boost the reserves of OPEC’s fourth largest producer, state-owned KUNA news agency reported Jan. 4, citing the oil minister. State-owned Kuwait Oil Co. discovered the Homah oil field, located…
The crisis that enveloped the oil industry last year can be measured in various ways, but in the US there might be no better single gauge than the tally of drilling rigs operating across the world’s largest producer. The weekly data shows at a glance the level of confidence from hundreds of…
Egypt’s Minister of Petroleum and Mineral Resources, Tarek el-Molla, signed on Friday nine new agreements to search for oil and natural gas in the eastern and western regions of the Mediterranean Sea and the regional waters of the Red Sea. The agreements were signed with six major international and Egyptian companies, including…
MOSCOW: Oil production in Russia declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and sluggish demand caused by the coronavirus, statistics showed on Saturday. Russian oil and gas condensate output declined to 10.27 million barrels per day (bpd) last…
ALGIERS: Algerian state oil and gas firm Sonatrach plans to invest $40 billion, 51% of it in the local dinar currency, over the next five years to develop existing fields, CEO Toufik Hakkar said on Thursday. Sonatrach also expects higher output and sales in 2021 as it aims to start production from…
Guwahati: The Oil India Limited (OIL) is planning to initiate a drilling and production project of Rs. 35 billion in Assam in the next months. The news was released by a senior official of the state-owned company on Thursday. According to reports, the Assam-based project is part of Oil India’s larger plan of developing…
Oil market optimism risks derailing its own recovery, with the recent rise in crude prices above $50/b possibly harming demand and incentivizing additional supply. Hopes that vaccines will revive the global economy, coupled with the OPEC+ decision to delay bringing back much of the extra 2 million b/d of oil planned for January, are…
U.S. oil output from shale formations is expected to decline by about 136,000 barrels per day (bpd) in January to 7.44 million bpd, the lowest since June, the U.S. Energy Information Administration (EIA) said in a monthly forecast on Monday, as reported by Reuters. Refinery File..png Output at nearly all seven major formations is…
PetroTal has submitted reference terms to Peru’s environmental certification service for sustainable investments (Senace) to conduct exploration at Amazon block 95. The work entails the acquisition of 2D seismic covering 1,200km across 94 seismic lines on the acreage in the northeast region of Loreto. The project will take an estimated 200 days. Once approved,…
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