News

  • SilverBow expands Eagle Ford portfolio in all-stock deal

    SilverBow Resources Inc, Houston, has agreed to acquire assets in the Eagle Ford shale in South Texas from an undisclosed seller, expanding the company’s gas portfolio in the Western Eagle Ford and adding oil acreage in three new counties.   The all-stock deal is valued…

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  • China to Fund Myanmar Projects in Agreement with Junta

    China will transfer over US$6 million to Myanmar’s government to fund 21 development projects, Myanmar’s foreign ministry said, in a sign of cooperation resuming under the junta which overthrew an elected government on the 1st February.   China’s influence had grown in Myanmar in recent…

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  • New Iran Oil Minister Selected

    Iran’s new president has picked the former head of the country’s natural-gas company as oil minister, at a time when the Islamic Republic is engaged in fraught negotiations with world powers to revive petroleum exports.   Javad Owji, who hasn’t previously held a full ministerial…

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  • Oil Supertankers in Doldrums

    The summer doldrums are here for oil supertankers.   Freight rates on the benchmark route from the Middle East to Asia have slipped to their lowest levels since March, meaning lower earnings for those vessels, Baltic Exchange data show. At the same time, ship-fuel costs…

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  • Yme nearing start-up offshore Norway

    Repsol Norge has authorisation from the Norwegian Petroleum Directorate (NPD) to start up the Yme oil field in the southeastern Norwegian North Sea.   Production is expected to start later this year.   According to the NPD, Yme is one of the first oil fields…

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  • Rystad: Japan unlikely to meet lower LNG share target

    Japan’s recent Strategic Energy Plan (SEP) revision lowers the targeted share of LNG in the country’s power generation mix in 2030 from 27% to 20% as a measure to cut emissions.   However, the targets could be too ambitious and changes the plan will bring…

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