r Libya’s energy industry reached a milestone over the past week with the reopening of the last of its oil fields and ports following a truce in a years-long civil war. The OPEC nation’s daily crude output has surged from less than 100,000 barrels in early September to above 700,000 as of Tuesday, according to…
Oil Secretary Tarun Kapoor on Wednesday hinted at more reforms to raise the level of private participation in upstream oil and gas exploration and production, but remained non-committal on the industry”s demand for cutting levies to make the business attractive during a low price regime. Talking to reporters at the end of the India…
New Delhi- Oil and Natural Gas Corporation Limited (ONGC) the biggest public sector commercial organization in India with a current market capitalization of about USD 60 billion is open to partnerships for exploration acreages under the new Open Acreage Licensing Policy to monetize Oil & Gas assets quickly with the latest technology. ‘One of our…
The state-run Petrobangla has extended the tenure of contract with India’s oil and gas exploration company — ONGC Videsh Ltd — by two more years until February 2023.The deal with the Indian firm was set to expire in February 2021 after an initial two-year extension. Earlier, the Petrobangla signed two production sharing contracts (PSCs)…
HOUSTON: BP on Sunday said it has begun to evacuate four offshore U.S. Gulf of Mexico oil platforms and secure facilities as Tropical Storm Zeta sprang up in the Caribbean Sea. The 27th named storm of this year’s Atlantic Hurricane season, Zeta strengthened on Sunday and is forecast to become a hurricane…
OSLO: Equinor and its partners in Norway’s Breidablikk oil discovery have agreed on an 18.6 billion Norwegian crowns ($1.95 billion) development plan for the North Sea field, the state-controlled company said on Monday. Partners in the field are ConocoPhillips, Petoro and Vaar Energi, a unit of Eni.”The Breidablikk field is one of the largest undeveloped…
Crude oil production in Libya jumped nearly threefold from below 100,000 barrels per day last week to around 250,000 bpd now – a week after the blockade on Libya’s oil ports was lifted. While the restart of Libya’s oil industry and exports are welcome news for the country, which has lost more than US$10 billion…
NEW YORK: U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a combined company worth around $6 billion, people familiar with the matter said on Saturday. The deal, which would value Tulsa, Oklahoma-based WPX at a small premium to its current share…
WINNIPEG, Manitoba: Canada will spend C$320 million ($238.56 million) to support its offshore oil industry, which has struggled as coronavirus pandemic travel restrictions reduced demand, Natural Resources Minister Seamus O’Regan said on Friday. O’Regan said in St. John’s, Newfoundland and Labrador, that the funds are intended to support jobs, and could be used for maintenance,…
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as some drillers return to the wellpad now that crude prices have held gains made since recovering from coronavirus-linked lows in the spring. The oil and gas rig count, an early indicator of future output, rose six…
English
Arabic
Chinese (Simplified)
Gujarati
Hindi
Marathi
Persian