Lukoil has started drilling production wells in the second phase of development of West Qurna-2 oil field in southern Iraq. It has signed contracts for the drilling of 54 wells targeting the Late Cretaceous Mishrif formation and three wells targeting the Early Cretaceous Yamama….
Australia’s energy market rule maker has acknowledged the vital and growing role demand response has to play in the smooth running of the national grid, but says it is also vital to lower costs and clarify the role of the emergency supply service. In…
The United States is the biggest source of imported oil by Britain for the first time in more than 60 years after fracking turned it into a global exporter. Imports from America have risen since 2015 when the country lifted a ban on selling…
Saudi Arabia’s efforts to shore up public finances and revive economic growth are still pretty much dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports. The world’s biggest oil exporter will need crude prices to…
Ask almost any economist and she’ll tell you the same thing: if you want to save the planet from runaway climate change, you have to make energy expensive. “Economics contains one fundamental truth about climate-change policy,” wrote Yale University economist William Nordhaus in 2008,…
SDX Energy, the North Africa focused oil and gas company, has increased its presence in Morocco with the awards of the Moulay Bouchta Ouest and Lalla Mimouna Sud licenses. The Moulay Bouchta Ouest exploration licence (SDX 75% working interest and operator), covering an area…
Black Sea Oil & Gas (BSOG) has made the Final Investment Decision (FID) to proceed with the US$400 million Midia gas development (MDG) project located in the Black Sea offshore Romania. The FID was made by BSOG together with its co-venture partners, Petro Ventures…
Norwegian oil and gas company Aker BP has exercised the first of eight one-month options to extend the charter of the Prosafe-owned flotel Safe Scandinavia. Announcing the extension on the 7th February, Prosafe said that the total value of the option is US$4.5 million….
Venezuelan sanctions are unlikely to have a significant impact on US refiners, according to the US Energy Information Administration (EIA). In an analysis piece published on the EIA’s website on the 6th February, the organisation said the recently announced sanctions “will essentially eliminate US…
Total has made a significant gas condensate discovery at the Brulpadda prospect on Block 11B/12B offshore South Africa. Total started drilling the Brulpadda-1AX re-entry well in late December 2018, using the Deepsea Stavanger drilling rig. The results of the well were announced on the 7th…
