Gas looks the best bet of the fossil fuels through the energy transition. Coal demand has already peaked while oil has a decade or so of slowing growth before electric vehicles start to make real inroads in transportation. Gas, blessed with lower carbon…
NIOC subsidiary Pars Oil and Gas Company has finalised a US$440-million deal with Petropars for development of the Belal gas field in the Persian Gulf, 90 km (56 miles) south-west of Lavan Island. This is a buy-back contract, with the project being designed to…
Reabold Resources, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, has announced that, following the highly encouraging results of the Iecea Mica-1 (‘IM-1’) appraisal well, onshore Romania, as announced on 9 September 2019, it has entered into…
The loss of 5.7 million b/d of Saudi crude oil production to airborne incursion on the 14th September has shoved the oil market into panicky adjustment and raised worry about retaliation in an always-tense region. In a statement, Saudi Aramco attributed the disruption to…
Tullow Oil Plc reported on the 16th September that it has discovered oil at the Joe-1 exploration well in the Orinduik licence offshore Guyana. According to Tullow, Joe-1 opens up a new Upper Tertiary oil plan in the Guyana basin. It also marks the…
Oil and gas exploration and production company Oilex has entered into an exclusivity agreement with Koru Energy for a potential acquisition of up to a 50 percent interest in three licences in the East Irish Sea. Oilex said on the 16th September that the…
Dutch company Royal Boskalis Westminster has signed a ‘memorandum of principles’ to construct an industrial island for the Basra Oil Company (BOC) in Iraq’s territorial waters in the Gulf. Iraqi oil minister Thamir Ghadhban said the project will add export capacity of three million…
He may have lost his bid to become the EU’s next president, but Frans Timmermans has been given a task which is no less challenging: implementing the European Green Deal, a package of policies largely based on that proposed by Democrats in the US, designed…
Savannah Petroleum, the British independent oil & gas company focused around activities in Niger and Nigeria, has noted the signature on 15 September 2019 of a Transportation Convention between China National Petroleum Corporation (‘CNPC’) and the Republic of Niger in relation to the planned crude…
Exports of sanction-hit Venezuelan oil now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro. Shipowners are avoiding transporting Venezuelan oil for fear of being sanctioned and losing insurance coverage on their vessels….
