Africa’s top oil producer plans to make gas flaring more costly for companies which have escaped the payment of billions of dollars despite being fined, Nigerian Finance Minister Kemi Adeosun has said. In the “legal framework for the gas-flaring penalty, it was drafted as…
Statoil has made plans to drill an appraisal well on the recent Verbier oil discovery located in the outer Moray Firth on the UK Continental Shelf. Statoil is the operator of UKCS Licence P.2170 (Blocks 20/5b & 21/1d) in the Central North Sea, which contains the Verbier…
ExxonMobil Corporation is set to spend US$50 billion over the next half decade in a return to the oil giant’s spending habits before crude suffered its worst price rout in a generation. With oil prices now hovering above US$65/bbl in New York, Exxon CEO…
Spirit Energy Ltd can drill an exploration well on Block 35/9 in the North Sea, the Petroleum Safety Authority Norway has said. Spirit Energy, the operator for production licence 682, has consent to drill exploration well 35/9-14 in the Tethys prospect in 365 metres…
Mexico’s National Hydrocarbons Commission (CNH) has published a call for the second bid of Round 3, covering a collective 9,513 square kilometres with a prospective 260 MMboe. Round 3.2 covers 37 onshore conventional exploration blocks, including 21 blocks in the Burgos region in Tamaulipas,…
Abu Dhabi National Energy Company PJSC (TAQA) is transforming its Eider platform and ensuring continued production from Otter field, as part of its strategy to maximise economic recovery and extend the life of its oil and gas fields in the Northern North Sea (NNS). …
The government of Mongolia has said construction on the country’s first refinery will begin this year on 150 hectares in Altanshiree in the Mongolian province of Dornogovi. With the feasibility study for the refining project scheduled to be completed by the end of this…
Croatia’s INA Industrija Nafte DD is proposing permanently shuttering the fluid catalytic cracking plant at its 44,000-b/d in Sisak, Croatia, 30 miles south of Zagreb, as part of an organisational strategy to boost performance and competitiveness of its Croatian refining business. Based on…
Five phases of the South Pars gas field in the Persian Gulf should begin operations from the 21st March onwards, according to Iranian Minister of Petroleum Bijan Zangeneh. According to a report by news service Shana, Zangeneh listed phases 13, 14, 22, 23, and…
Rystad Energy expects 50 oil and gas fields in the Southeast Asia region to be approved for development between 2018 and 2020. The collective resource is 4 Bboe, with associated greenfield capex of US$28 billion from the final investment decision (FID) to first production….
