Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on the 14th March. Petoro holds stakes in several oil and gas firms off Norway and represents…
GE Renewable Energy [GE] and Fina Enerji have signed an agreement to work on potential eight wind projects in Turkey providing up to 410 MW of power by the 31st December 2020. With the previous agreement signed in 2017 for Kizilcaterzi Wind Project, Fina…
Statoil AS and its partners have committed five billion kroner and started work on the next steps in the development of Snohvit field in the Barents Sea. Development of Askeladd field is the second phase of the multi-phased Snohvit development, which will provide feedstock…
Conditions in Venezuela have deteriorated under the Maduro regime to a point where other countries are beginning to consider ways to intervene and rescue the country’s citizens who have not already fled, speakers suggested during a discussion on the 13th March at the Atlantic Council….
A debate about the proposed Nord Stream 2 natural gas pipeline at the Atlantic Council on the 12th March quickly became heated as some participants argued that it would serve a broader Russian political purpose while others said it simply would increase available supplies for…
Bangladesh’s Summit Power International said on the 13th March that it has signed a Memorandum of Understanding with Japan’s Mitsubishi Corporation and subsidiary Diamond Gas International to develop a US$3 billion LNG-to-power project. Under the MoU, subsidiary Summit Corporation, group company Summit Holdings and…
Algerian state energy firm Sonatrach will invest US$250 million to boost output at the Tinhert gas field from five million cubic metres to 20 million cubic metres (mcm) per day by 2020. ‘This is an important project that will push our gas output up,’…
Cairn Energy is negotiating a production-sharing agreement with Staatsolie for a licence in the Demerara plateau offshore Suriname. Terms will include acquisition of 2D seismic with contingent 3D seismic activity. Cairn views this as a significant future drilling opportunity. The licence, which covers…
BP Plc and Royal Dutch Shell Plc have reacted to the results of the latest UK Superbrands rankings, which saw both companies crowned as one of the top 20 UK business and consumer Superbrands of 2018. “We are proud to be included in the…
Brazilian oil giant Petrobras has decided to sell its total stake in two deepwater assets offshore Brazil. Petrobras said it had started the opportunity disclosure stage for the sale of its total stake in the Piranema and Piranema Sul fields. Petrobras, the operator with…
