Zion Oil & Gas has completed the testing programme of its primary zones located within the Jurassic and Cretaceous-age formations of the Megiddo-Jezreel-1 well, onshore Israel. As a result of the testing, Zion has determined that the well is not commercially productive. Zion’s…
Equinor and Global Petro Storage (GPS) have entered into a long-term agreement for a terminal and storage for LPG volumes in Port Klang in Malaysia. GPS will build a new facility to execute this agreement with start-up of operations planned for mid-2021. Equinor will…
An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, US companies have drilled 114,000. Many of them would turn a profit even with crude prices as…
The price of Brent crude oil will recover towards the end of the year to average over US$74 per barrel in 2018. This is the core view of Fitch Solutions Macro Research, according to a recent report from the company. “The sharp decline…
Kvaerner has cut first steel for the topsides of the Johan Castberg FPSO, commissioned by operator Equinor. “Johan Castberg is an important project for Kvaerner and the Norwegian supplier industry because it enables us to further develop our expertise in constructing floating production vessels,…
US oil major Chevron has kicked off oil and gas production from its deep-water project Big Foot, located in the US Gulf of Mexico. Discovered in 2006, the Big Foot field sits some 225 miles (360 kilometres) south of New Orleans, in a water…
Dana Gas, the Middle East’s leading publicly-listed regional natural gas company, and its partner Crescent Petroleum, have announced achievement of a 30% increase in production capacity at the Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of…
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the commencement of the Faroe-operated Brasse East exploration well 31/7-3S in the Northern North Sea (Faroe 50% working interest). The Brasse…
While fossil fuels lobbyists might deny it, the political landscape has totally changed over the last three years. The world is now heading towards a complete decarbonisation of the energy system. It might seem daunting, or potentially impossible, to change our systems fast enough…
Perth-based Elixir Petroleum Ltd has a risked best estimate recoverable coal seam gas prospective resource of 7.6 tcf in its wholly owned Nomgom IX prospect in southern Mongolia according to global independent petroleum reserves and resources auditor ERC Equipoise Pte Ltd. The Nomgom IX…
