PentaNova Energy Corporation of , Vancouver, BC, has agreed to make acquisitions which will increase its working interest to 50% in the Llancanelo heavy-oil field in Argentina and allow work to begin on a joint development plan with YPF SA, Buenos Aires. The agreements…
Demand for oil will grow through 2040 even as dominance of the internal combustion engine weakens in road transportation, according to base-case projections by IHS Market. But gasoline consumption will decline as fuel economy improves and as gasoline-fuelled vehicles lose their share of new-vehicle…
According to the World Energy Outlook 2017, the resurgence in oil and gas production from the United States, deep declines in the cost of renewables and growing electrification are changing the face of the global energy system and upending traditional ways of meeting energy demand. A…
Oil Minister Jabar al-Luaibi said Iraq plans to increase production from oilfields in Kirkuk to one million barrels per day and has visited the Bai Hasan and Avana fields to order work be accelerated to restore operations soon, the ministry’s spokesman said on the 13th…
The Industry Technology Facilitator (ITF) and Norwegian Energy Partners (NORWEP) are hosting joint technology hackathon events later this month to tackle collectively operator late life and decommissioning challenges. Supported by the UK Oil & Gas Authority (OGA) and the Norwegian Ministry of Petroleum and…
Dana Gas’ 3Q production from the Zora gas field offshore Sharjah/Ajman averaged 1,550 boe/d, down from 1,650 boe/d in the second quarter. The company has recently completed a notional field development plan and intervention programme to address the unexpected and rapid decline in production…
Only two new offshore projects have been approved on the UK continental shelf (UKCS) this year, according to analyst Westwood Global Energy Group. The combination of new projects coming off plateau and decline from mature fields means that total UK offshore production is set…
Tethys Oil AB has acquired the 15,449-square kilometre Block 49 onshore Oman. The company said it has access to 11,000 kilometres of 2D seismic collected by previous operators and cores from nine historical wells, including Dauka-1, which was the first well drilled in Oman…
With oil prices trading near their highest level in two years, some traders are betting that the price rise could have more room to run. A total of 48,000 contracts have traded over the last few days and would profit most if Brent spikes before…
Dutch Damen Shipyards Group has entered into a share purchase agreement with Daewoo Shipbuilding & Marine Engineering (DSME) for the acquisition of DSME’s majority share in a shipyard in Romania. Damen said on the 10th November that the Daewoo Mangalia Heavy Industries (DMHI) shipyard in…
