President Joe Biden’s administration announced plans Wednesday for a temporary moratorium on oil and gas leasing in Alaska’s Arctic National Wildlife Refuge after the Trump administration issued leases in a part of the refuge considered sacred by the Indigenous Gwich’in.The plans, along with other executive actions, were announced by press secretary Jen Psaki. Issuing Read more

  India’s gas output will rise 25% this year to 95-100 million metric standard cubic metres a day (mmscmd), led by production from fields jointly owned by Reliance Industries (RIL) and BP plc, and from that of state-run Oil and Natural Gas Corporation Ltd (ONGC). The RIL-BP joint venture started production from the new R Read more

  ERBIL – The Kurdistan Regional Government’s (KRG) Ministry of Natural Resources on Monday responded to the recent statements Iraq’s oil minister made about the Kurdistan Region’s oil.   In a recent interview with Iraq’s Sharqiya TV, Iraqi Oil Minister Ihsan Abdul-Jabbar made comments about “a number of issues related to the Kurdistan Region’s oil,” Read more

  The Trump administration said on Tuesday it had issued drilling leases on more than 400,000 acres of Alaska’s Arctic National Wildlife Refuge, delivering on a promise to fossil fuel proponents on President Donald Trump’s last full day in office. Formal issuance of the leases by the U.S. Bureau of Land Management comes a day Read more

  The Council of Canadians and Offshore Alliance is calling for a moratorium on offshore drilling and exploration in the wake of the renewal of British Petroleum Canada exploration licences off Nova Scotia on Friday.   “The offshore petroleum board is letting BP call the shots about our climate,” Robin Tress with the Council of Read more

  OPEC oil producer Kuwait intends to allocate an additional $200 million for a project to expand Jurassic gas facilities in its Northern region close to the border with Iraq, a local newspaper reported on Sunday.   Kuwait, one of the world’s largest oil exporters, awarded a $377-million contract for the development of Jurassic gas Read more

  ISLAMABAD: Directorate General of Petroleum Concessions has publicly opened bids for 20 onshore blocks for grant of Petroleum Exploration Rights through open bidding at Petroleum House, Islamabad.   According to a press release of Ministry of Energy, the minimum investment to be carried out by the Exploration and Production companies in these blocks for Read more

  TEHRAN – Steady production from Iran’s giant South Pars gas field, which the country shares with Qatar in the Persian Gulf, has ensured uninterrupted and sustainable supply of natural gas across the country during the cold season.   The mentioned gas field is expanded over an area of 9,700 square kilometers, 3,700 square kilometers Read more

  LONDON: Energean announced on Thursday it will develop a new natural gas field off the coast of Israel at an initial cost of $150 million.Energean also said it had signed an 18-month, $700 million loan facility with J.P. Morgan and Morgan Stanley to help fund the development and pay for the acquisition of a Read more

  Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the weight of U.S. sanctions.   Jorge Jraissati reported for Anadolu Agency this week that Maduro said in its annual accountability speech that Venezuela will Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more