Development drilling will start during the next 12 months on the South Pars Phase 11 project in the Persian Gulf. Iranian Minister of Petroleum Bijan Zanganeh made the announcement on news service Shana’s website. National Iranian Oil Company had sanctioned a consortium led…
Algeria’s national oil company SONATRACH has signed two Memorandums of Understanding (MoU) with the Russian company Zarubezhneft and the Turkish company Turkiye Petrolleri Anonim Ortaklioi (TPAO), it announced in a statement. The two agreements ‘will allow to initiate joint discussions on the opportunities concerning…
Saudi Arabia and Russia have signalled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude’s downward spiral. The two nations will “continue to closely monitor the oil market and are prepared…
Canadian oil and gas company Zenith Energy has renegotiated the terms for the acquisition Anglo African Oil & Gas’ subsidiary which is the operator of the Tilapia oilfield in the Republic of the Congo. AAOG’s fully-owned subsidiary in question is Anglo African Oil &…
Equinor has approval from Norway’s Petroleum Safety Authority for continued use of the Troll B platform in the North Sea and associated subsea installations. The existing consent ran until September 2020, but this has now been extended to the 30th September 2030, to allow…
Chevron Corporation has announced that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Export Route Pipeline) and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline located in Azerbaijan, to MOL Hungarian Oil and Gas Plc for…
Arrow Energy has sanctioned commencement of the first phase of its Surat Gas Project (SGP) in southern Queensland, with construction set to begin this year. Arrow’s sanction decision follows the announcement from its shareholders, PetroChina and Shell, of a final investment decision (FID) for…
Pin Oak Corpus Christi LLC has received the first vessel at its newly commissioned Oil Dock 14 at the Port of Corpus Christi. The new dock, with loading rates in excess of 40,000 bbl/hr, can accommodate tankers up to Suezmax class (~1-million bbl). …
Petrobras revealed on the 15th April that it has begun hibernating 62 platforms in shallow water fields in the Campos, Sergipe, Potiguar and Ceara basins offshore Brazil. In a statement posted on the company’s website, which was translated by Google, Petrobras said the measure…
Dutch exploration and production operator Tulip Oil has reduced its capital and operating expenditures as a response to the low oil and gas prices as well as the coronavirus pandemic, but this will not stop Tulip from taking steps in preparation for production increase at…
