News

  • New hydrogen fund could fuel new industry in Australia

    The Australian Petroleum Production & Exploration Association (APPEA) has welcomed the Australian Government’s establishment of an Advancing Hydrogen Fund to support the development of a commercial hydrogen industry in Australia.   The new $300 million fund could help secure the potential role hydrogen can play…

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  • Rompetrol Rafinare wraps Petromidia refinery turnaround

    Rompetrol Rafinare SA – jointly owned by Kazakhstan’s state-owned KazMunaiGas subsidiary KMG International Group 54.63% and Romania’s Ministry of Economy, Energy & Business Environment 44.69% – has completed a 45-day general turnaround at its five million-tonne/year Petromidia refinery in Navodari on the Black Sea.  …

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  • Norway proposes temporary tax break to stimulate offshore projects

    The Norwegian government is working on measures to maintain activity levels across the country’s oil and gas industry and the supply industry during the coronavirus crisis.   These include temporary targeted changes to the taxation system to allow planned projects to go forward, and a…

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  • Coronavirus Downturn May Nullify 10 Years of Oil Demand Growth

    Up until early April the oil market was being clobbered by the double whammy of a supply glut from a Saudi-Russian price war and demand destruction on an unprecedented scale caused by the coronavirus or Covid-19 COronaVIrusDisease-2019)  global pandemic.   The short-lived situation has been…

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  • KRG nets US$4.5 billion Oil Revenues for 2019

    The KRG’s Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region’s oil exports, consumption and revenues for 2019.   The report, available in Kurdish, English and Arabic, provides a quarterly analysis of oil export information and…

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  • Public consultation opens on Australia’s 2020 offshore petroleum acreage

    Public consultation has opened on potential areas for the Australia’s 2020 offshore petroleum exploration acreage release.   Minister for Resources, Water and Northern Australia Keith Pitt said 49 areas have been nominated by the oil and gas industry offshore from Western Australia, Northern Territory, Victoria…

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  • Cabot to drill 60 to 70 wells in 2020

    Cabot Oil & Gas Corporation expects to drill, complete and produce 60 to 70 natural gas wells in 2020, with two-thirds placed on production between mid-May and late August. In the first quarter, the company drilled 22 wells and completed 13.   Details were provided…

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  • Insurance Jottings

    RIMS acknowledges drawbacks in forcing insurers to retroactively cover BI The chairman of RIMS’s external affairs committee has said the society recognises the challenges which would result from retroactively forcing insurers to cover business interruption losses, despite it sounding good for insureds in theory.  …

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