On the 6th November, Algeria’s state energy firm Sonatrach started US$2 billion of new investments into the Hassi Rmel gas field to keep production stable at the country’s biggest gas field. “The objective is to maintain the 190 million cubic metre output for the…
A consortium including energy companies BP and Royal Dutch Shell will develop a blockchain-based digital platform for energy commodities trading expected to start by end-2018, the group said on the 6th November. Other members of the consortium include Norwegian oil firm Statoil, trading houses…
Oil reached levels last seen more than two years ago as Saudi Arabian King Salman’s anti-corruption drive shook the world’s biggest crude exporter just weeks before major producers gather to discuss prolonging historic production caps. Futures advanced as much as 1.2% in New York….
The Minister of State at Ireland’s Department of Communications, Climate Action and Environment has authorised the assignment of the following interests offshore southern Ireland: 10% interest in the Dunmore lease undertaking (LU) to Marginal Field Development Company 10% of Providence Resources’ interest in…
Norway’s Offshore Resource Group (ORG) has signed a Memorandum of Understanding with Khazar Exploration and Production Company to study the development of the deepwater Sardar-e Jangal oil and gas field off Gilan Province in the southern Caspian Sea, according to news service Shana. The…
OMV Petrom has resumed drilling in the shallow-water Istria block in the Black Sea. The company plans to drill three new wells on existing fields and one exploration well. It aimed to complete two of the wells by year-end and the other two by…
Greece has made noticeable progress with its energy-sector reforms in recent years. The country moved forward on plans to restructure state-owned companies and liberalise electricity and gas markets, an impressive programme which will lead to more competitive and financially viable energy markets offering choices and…
Mexico’s national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on the 3rd November. He said Pemex made the discovery by drilling its onshore Ixachi…
Apache Corporation plans to bring on-stream the CB-1 well later this month at the Callater field in the UK North Sea. The well, recently drilled into an untested fault block, delivered more than 260 feet (79 metres) of net pay. This is the…
One of the world’s biggest oil companies is pumping more than US$1 billion a year into alternative forms of energy from algae engineered to bloom into biofuels and cells which turn emissions into electricity. The funds from Exxon Mobil Corporation are for more than…
