Genel Energy has reached agreement to acquire stakes in the Chevron operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq. Genel will acquire 30% equity in the Sarta licence by paying a 50% share of ongoing field development costs until a specific…
A federal judge in South Carolina has issued an injunction stopping the US Bureau of Ocean Energy Management’s processing of applications for offshore oil and gas seismic permits on the US Mid-Atlantic Outer Continental Shelf during the federal government’s partial shutdown. US District Judge…
Saudi Arabia is in talks to build an oil refinery in South Africa as part of a pledge to invest as much as US$10 billion in Africa’s most developed economy. Joint studies for a refinery and petrochemical complex will be conducted by state oil…
Pars Oil and Gas Company (POGC) has replaced Petroleum Engineering and Development Company for the next-phase development of the Kish gas field. Mohammad Meshkinfam, CEO of POGC, told news service Shana the aim was to produce 85 MMcm/d of gas from the field, 30…
Norwegian oil major Equinor has revealed plans to halve CO2 emissions from its logistical operations on the Norwegian continental shelf (NCS) by 2030. Equinor said on the 18th January that the CO2 emissions from its NCS operations were reduced by 600,000 tonnes since 2011….
Despite the signing of a new Vienna Agreement, the journey to a balanced global oil market will take time and is more likely to be a marathon than a sprint, according to the International Energy Agency’s first Oil Market Report in 2019. On the…
GE Renewable Energy and Future Wind (a joint venture between Pondera Development and SIF Holding Netherlands) have announced that they have signed an agreement to install the first Haliade-X 12 MW wind turbine prototype in Maasvlakte-Rotterdam during summer 2019. The deal includes five years…
AM Best warns of increased Brexit uncertainty for UK insurers uncertainty for UK insurers AM Best has warned that uncertainty as to the UK’s future trading relationship with the EU has increased following the vote in the House of Commons on the 15th January, rejecting…
The Gullfaks partners have decided to drill seven new wells and thereby improve oil recovery by 17 million barrels with good profitability. On behalf of the licence partners, Equinor’s executive vice president for Development and Production Norway, Arne Sigve Nylund, presented an amended plan…
Commissioning has started of Russia’s first floating storage and regasification unit (FSRU) in the Baltic Sea, offshore the Kaliningrad enclave in western Russia. Gazprom contracted the vessel and the associated offshore gas reception terminal to improve the reliability of gas supplies to the Kaliningrad region. Previously it…
