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Turkey is currently in talks to explore for oil and gas in Bulgaria, with similar plans for exploration in Iraq and Libya, Turkish Energy Minister Alparslan Bayraktar has revealed. Turkey not only wants to boost domestic oil and gas production, but also harbors ambitions to become a regional energy hub. Turkish President
Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted
Turkey is boosting domestic natural gas production in its Black Sea waters and is looking to expand its international partnerships in oil and gas exploration in Bulgarias Black Sea, in the Caspian Sea region, and in Iraq, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, said on Monday. Most likely next month, TPAO
Africa is set to play a pivotal role in the global gas industry in the coming years as the worlds liquefied natural gas (LNG) production capacity soars from 486 million tonnes per annum (Mtpa) last year to 755 Mtpa in 2030, according to Rystad Energys latest projections.
Increasing financial constraints, a low commodity price environment and a shrinking pool of prospective basins have transformed how oil and gas players explore for new barrels.
Mexicos finance ministry has revised the countrys crude oil production rate for the year by 129,000 bpd less than previously expected. Instead of 1.8 million bpdthe target set by President Claudia SheinbaumMexico is seen producing 1.762 million bpd, Reuters reported, citing the ministry.
It is located adjacent to CanCambrias existing Ba-IX mining license (32,500 acres), creating a consolidated, contiguous position within the Pannonian Basin, a mature and historically productive region in southern Hungary. is a Canadian-based exploration and production company specializing in tight gas development.
government of allowing companies under its jurisdiction to sign oil exploration and production deals directly with the KRG. According to Iraqi media, the lawsuit was filed on Monday and accuses the U.S. Baghdad argues these deals bypass the federal oil ministry
supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greeces Ministry of Energy and Environment said on Wednesday. The two new blocks now essentially double the total area for exploration to 47,000 sq km (18,147 square miles). (Oil Price) –U.S.
Nigerias crude oil production averaged 1.4 Production growthhinges on optimising our existing resources and exploring new frontiers, Nigerias government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasnt been able to pump to its OPEC quota for years.
Oil prices dipped slightly today but have risen since OPEC+ decided to boost production by 411,000 barrels per day in June. OPEC anticipates a 5% drop in non-OPEC+ exploration and production investment in 2025, despite a $3 billion rise in 2024. Production from the 10 non-OPEC OPEC+ members dropped by 45 kb/d.
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
EOG ) today announced that the company was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA). Following a three year appraisal phase, EOG may enter into a production concession in which ADNOC has the option to participate.
Ineos Energy focuses on oil and gas exploration and production, with activities in the North Sea, UK, Denmark and the USA.Its onshore assets This is a major step for us into the deepwater Gulf of Mexico, which builds on our growing energy business, said Ineos CEO David Bucknall in announcing the deal in December 2024.
Global oil markets are entering a pivotal phase as exploration-driven reserve replacement lags. This growing shortfall, combined with forecasts that US shale production will peak in the 2030s, sets the stage for a tightening global supply outlook.
(Oil Price) –Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libyas crude oil production currently exceeds 1.4 million barrels per day (bpd), NOC says.
In the high-stakes world of oil and gas exploration, every decision carries weight. For decades, geologists and engineers have relied on traditional methodsmanual interpretation, historical records, and analog simulationsto explore hydrocarbon reserves beneath the Earths surface.
The discovery at the Far South prospect comes as BP announced a few weeks back a strategy reset to shift focus back to growing oil and gas production and investments after a few years of trying to be an integrated energy company with a major presence in renewables.
Insights on WCSB Oil Production Pipeline Expansions, and AECO Hub Gas Pricing The Canadian oil and gas industry is at a pivotal moment, with significant potential on the horizon that could reshape the landscape. Lets look at some of the key highlights: Anticipate a rise in oil production within the Western Canada Sedimentary Basin (WCSB).
TotalEnergies expects its first-quarter oil and gas production to have increased by almost 4% on the year to the high end of the quarterly guidance range of 2.5 TotalEnergies expects the results in its exploration & production (E&P) division to reflect the higher production compared to the same quarter last year, as well as a price
The discovery at the Far South prospect comes as BP announced a few weeks back a strategy reset to shift focus back to growing oil and gas production and investments after a few years of trying to be an integrated energy company with a major presence in renewables.
Eni has been pursuing in recent years the so-called dual exploration model, under which it sells part of its majority stakes to other companies to fast-track oil and gas discoveries to production. The worlds largest independent oil trader, Vitol, will buy stakes in some upstream assets in West Africa from Eni for $1.65
The former head of Mexican state oil firm Pemex's exploration and production arm has returned to his post after the surprise departure of the previous chief this week
During the production test, the well was tested at multiple flow rates in order to gather data to determine the flow capacity of the well, to provide an early estimate of potential resource volumes, and to obtain high quality fluid samples. the “Paradox project”). Water cut was less than 0.5%
Omans Minister of Petroleum and Mineral Resources announced the launch of new bid round for oil and gas exploration and production. The post Oman Launches Bid Round for Oil and Gas Exploration first appeared on Egypt Oil & Gas. He added that applying to these areas is opened until June.
Fasken operates wells on the property; the Puig descendants sued Fasken for deducting post-production costs from their royalty. The trial court agreed with Puig, and the court of appeals affirmed, in a well-reasoned opinion relying on the Supreme Court’s opinion in Chesapeake Exploration v. Hyder , 483 S.W.3d 3d 870 (Tex.
When the Labour Party of Keir Starmer won the latest UK elections, it vowed to stop new oil and gas exploration. The Starmer cabinet has stayed true to its word on thatbut it is looking for ways to boost production through other means.
Petra Nova, one of the world’s only two carbon capture and storage (CCS) retrofits at a commercial power plant, has restarted operations, JX Nippon Oil and Gas Exploration Corp. announced […] The post Petra Nova, Pioneering Power Plant Carbon Capture Unit, Is Up and Running Again, says JX Nippon appeared first on POWER Magazine.
billion social fund, which collects revenues from oil and gas exploration and production, as approval ratings of President Luiz Inacio Lula da Silva have slumped to a record low. Brazil looks to boost its economy with money from its $3.5-billion
and Chevron Products Co. have reached a memorandum of understanding (MOU) to explore a strategic alliance to develop commercially viable business opportunities in hydrogen and other alternative energy sources. Cummins Inc.
Austin-based Greenlake Energy announced last week the formation of Greenlake Energy II, its newest exploration and production platform, backed by more than $200 million in equity commitments from NGP Energy Capital Management and Greenlakes management.
EPIC Midstream Holdings LP and the Port of Corpus Christi Authority (PCCA), have entered into a nonbinding memorandum of understanding (MOU) to explore the development of a green hydrogen production, storage, transportation and export operation, including a newly constructed […].
Shells subsidiary operating the Bonga oilfield, Shell Nigeria Exploration and Production Company (SNEPCo), has signed an agreement to buy the French supermajors 12.5% stake in the OML 118 Production Sharing Contract, an oil mining lease offshore Nigeria that includes the Bonga field, Shell said on Thursday.
The well performed in line with expectations during the 12-day production test, averaging 2,700 barrels of oil per day during the final flow period, without artificial lift. The vertical Sockeye-2 well was completed in a single 25-foot interval at approximately 9,200 feet TVD, without stimulation.
oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights. As a result of the declining demand outlook and expected supply surplus (likely widened by recent OPEC+ decisions to accelerate the pace of production increases), U.S.
Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska the Nuna and Pikka projects are expected to boost crude oil production in the state after decades of decline.
AMMONIA, NITROGEN, AND GREEN HYDROGEN PRODUCTION & PURIFICATION The paper delves into the production of hydrogen from different electrical energy sources, emphasising electrolyser technology and its integration with renewable energy generation systems.
The report also explores regional load growth variations influenced by infrastructure and adoption trends, the impact of recent legislation and tax credits on manufacturing and the comparative economics of imports versus domestic production. Using domestic products in renewable projects adds investment tax credit benefits.
(the Company or ReconAfrica) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agncia Nacional de Petrleo, Gs e Biocombustveis or National Oil, Gas and Biofuels Agency (ANPG). This will be the Companys largest exploration prospect drilled so far.
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. This reduces our development costs and is expected to drive higher returns for shareholders.
The restructuring should lead to savings to the tune of $540 million, the document showed, by transferring over $300 million from Pemexs personnel budget to its exploration and production department and help increase oil and gas output.
During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. The fact that we achieved this success in the concession belonging to Bzakerettye, which has an almost 100-year oil industry tradition, is clear evidence that there is still potential in hydrocarbon exploration in Hungary.
Omans OQ Exploration and Production (OQEP) has been rapidly expanding in recent years by partnering with IOCs in Oman, where it sees itself as the partner of choice.
An environmentalist outlet called Oceana has filed a lawsuit seeking to prevent oil and gas exploration and production under 31 licenses for North Sea fields awarded by the UK government back in 2022.
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