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The UK government is mulling over a change to the law to oil and gas projects in the North Sea in a drive to lower energy bills. The government has given extra funds for the Department for Energy Security and Net Zero to invest between 2026…
The Ministry of Oil has signed an agreement in principle with HKN Energy to develop the Hamrin field in northern Iraq. He noted the importance of investing in associated gas to help power electricity generation stations. The KRG and Iraq's federal government have disagreed over the legitimacy of that contract.
“Facilities such as this will play an instrumental part in supporting marginal field production by facilitating crude exports and increasing revenue generation in Nigeria,” said the African Energy Chamber (AEC) in a statement. “As For Nigeria’s marginal fields, the terminal opens new doors for greater operational efficiency.
As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation. In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. By John Lee.
bp, which has pivoted away from its failed low-carbon strategy to focus more on fossil fuels, signed a memorandum of understanding to study reviving two huge oil fields in Libya, it said in a statement on Tuesday. We hope to apply bp’s experience from redeveloping and managing giant oil fields around the world.”
This ancient oil field is widely regarded as the location of the first mechanically drilled oil well in the world, predating Drake’s well by several years. Let’s take a closer look at this remarkable chapter in global industrial history and the foundational role it played in shaping the modern oil and gas industry.
The Ministry of Oil has inaugurated the Central Gas Processing Facility at the Al-Faihaa [Fayhaa, Block 9] oil field in Basra, with a capacity of 130 million standard cubic feet per day (MMSCFD). He emphasised that gas projects such as this are critical for ensuring a stable fuel supply for electricity generation. By John Lee.
The talks focused on potential cooperation and investment opportunities, including the development of oil fields and the capture of associated gas. Prime Minister Al-Sudani reiterated Iraq's goal to fully utilise all associated gas produced from its oil fields by 2028.
This is despite the fact that most of the last half-decade have not been banner years for broader investment in technology fields – affirming fusion’s unique appeal as a secure, scalable, and clean energy solution to the world’s power needs.”
US firm HKN has signed a preliminary deal to develop the Hamrin field in Iraq’s northern Saladin province. The Federal government and Kurdistan Regional Government (KRG) are in a long-running dispute over management of the Region’s oil and gas assets.
Image by yusnizam via iStock Petroliam Nasional Berhad (Petronas) has formalized several key agreements with the Sabah government, focusing on the responsible development of the state’s energy resources. Petronas added that the partnerships build on the Commercial Collaboration Agreement it signed with the state government in 2021.
(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. government in 1911. Moreover, there are fewer accessible fields to tap.
Libya is split between dueling governments in its east and west, and sporadic stoppages and rounds of violence have left much of its energy infrastructure neglected and damaged. The development of its north Jalo field alone would add 100,000 barrels. A representative for TotalEnergies declined to comment. Waha Oil Co.,
Image by Emiliano Ortiz via iStock Italy’s Eni SpA and Argentina’s YPF SA have signed an agreement to build a liquefaction facility to enable the export of natural gas from the Vaca Muerta field in the South American country. The capacity is planned to grow to up to 30 million tons per annum (MMtpa) by 2030.
At the very heart of this progress lies a critical, often overlooked process: fuel gas conditioning. It is the essential step that ensures the natural gas powering everything from massive power generation turbines to critical industrial engines is clean, dry, and delivered at the precise specifications required for optimal performance.
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA Crude Oil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. field production of crude oil has averaged 13 million barrels per day or more on 20 occasions.
Israeli government has ordered Chevron’s subsidiary Chevron Mediterranean to halt production at its operated Leviathan offshore natural gas project amid security…
Image by BrianAJackson via iStock Petronas, Malaysia’s state-owned oil and gas company, will cut about 10% of its workforce in a firm-wide restructuring as it looks to reduce costs due to falling crude prices. “The margins are shrinking, the fields are getting smaller,” Taufik said. WHAT DO YOU THINK?
Brent Crude $69.46 -0.09% Natural Gas $3.52 -0.56% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Iraq Agrees on Oil Plan With Kurds by Bloomberg | Khalid Al-Ansary | Thursday, July 17, 2025 | 4:00 PM EST Iraq approved a plan for its semi-autonomous Kurdish region to transfer oil to Baghdad. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
As part of the plan, Pemex will open some of its key oil and gasfields to joint investment projects with private sector partners in a bid to boost lagging production. government debt including Treasuries, according to a filing last week. P-Caps Mexico, through an entity named Eagle Funding LuxCo.,
The acquisition enhances PTTEP’s gas production volume, petroleum reserves, and increases its investment in the MTJDA from its existing 50 percent participating interest in Block B-17-01, the company said in a news release. The sellers, Hess (Bahamas) Limited and Hess Asia Holdings Inc.,
Prime Minister Mostafa Madbouli held a meeting on Friday afternoon to review the government’s plan to secure the country’s needs of oil and natural gas following the Israeli military operation in Iran. The post Madbouli Heads Meeting to Ensure Adequate Oil and Gas Supply first appeared on Egypt Oil & Gas.
billion barrels of oil and gas could still be produced from UK waters – 3.2 The government’s independent advisers, the Climate Change Committee, say in a scenario where the UK meets all its climate targets on time, UK homes and businesses will still use between 13 and 15 billion barrels of oil and gas.
Brent Crude $69.46 -0.09% Natural Gas $3.52 -0.56% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Oil Rises on Tight Supply Signals by Bloomberg | Staff | Thursday, July 17, 2025 | 4:03 PM EST Oil rebounded on tighter supply signals and upbeat U.S. said it was on the cusp of reaching a production plateau in the largest US oil field.
Most of the increase came from Tengiz—the Chevron-led mega-field—where output surged from 813,200 bpd in May to 953,000 bpd in June. More than 70% of Kazakhstan’s oil is produced by international consortiums like Chevron and ExxonMobil, over which the government has no authority to impose cuts. million bpd in June, up from 2.02
announced a definitive agreement to acquire substantially all of Plains All American Pipeline’s Canadian natural gas liquids (NGL) business, along with select U.S. Keyera Corp. assets, for a total cash consideration of C$5.15 billion (US$3.76 logistics components.
Brent Crude $72.24 -0.37% Natural Gas $3.12 -0.57% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Australia's Cue Energy Posts Lower Production by Jov Onsat | Rigzone Staff | Wednesday, July 30, 2025 | 5:54 AM EST Cue Energy, which produces oil and gas in Australia, Indonesia and New Zealand, reported a quarterly output of 148,300 boe.
As temperatures dropped, oil field equipment froze, wells were shut in, and the natural gas needed to generate electricity crashed as the demand for power sky rocketed. At first pass, this event seems like it would constitute a force majeure event, and few natural gas purchasers and suppliers have argued otherwise.
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. However, it is becoming a problem in some onshore fields.
For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown. from 2018-2024.
have signed a heads of agreement for the Australian company to export liquefied natural gas (LNG) to the Japanese power utility in the winter months for at least five years. percent stake in the Scarborough field offshore Western Australia to Japanese companies: 15.1 Image by BJP7images via iStock JERA Co. Last year Woodside sold a 25.1
Total industry GVA encompasses the following sectors: mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, waste management, and remediation activities. In the PNIEC, the government reported that 67.9 âGross value added and income by detailed industry (NACE Rev.2),â
The Kurdistan Regional Government's Ministry of Natural Resources has confirmed reports of another attack on oil facilities in Northern Iraq. According to a statement on Wednesday, the Ain Safni oil field in the Sheikhan district of Duhok Governorate was attacked by drone. By John Lee. Ain Sifni is operated by US-based Hunt Oil.
Libya is split between dueling governments in its east and west, and sporadic stoppages and rounds of violence have left much of its energy infrastructure neglected and damaged. The development of its north Jalo field alone would add 100,000 barrels. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! Waha Oil Co.,
has completed the sale of its producing oil and gas assets in Greater Angostura in Trinidad and Tobago to Perenco Group for AUD 206 million ($135.18 In Angostura, the National Gas Company of Trinidad and Tobago holds a 30 percent stake, while Chaoyang Petroleum (Trinidad) Block 2C Ltd. In Ruby, National Gas owns the remaining 31.54
has adjusted the timeline for the development of the Rafael natural gas project in Western Australia’s Canning Basin but still aims for a startup late 2027. The Rafael gas and condensate field is in Exploration Permit 428, about 150 kilometers (93.21 Image by DanielIngelhart via iStock Buru Energy Ltd.
MORE FROM THIS AUTHOR Andreas Exarheas Editor | Rigzone OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! by Andreas Exarheas | Rigzone Staff | Monday, July 14, 2025 | 7:47 AM EST Rigzone talks to Carole Nakhle, the Chief Executive Officer of London based consultancy Crystol Energy. There’s a reason 700K+ energy professionals have subscribed.
The proposed intermediate target “does not prescribe specific policies, technologies or measures, leaving Member States flexibility, taking into account the regulatory framework to achieve greenhouse gas emission reduction targets”, the official text says. There’s a reason 700K+ energy professionals have subscribed.
Among the matters discussed was a proposal from Chinese firm Tsingshan Holding Group , which expressed interest in dry gas operations at the Basra Industrial City Project, as well as in a sulphur investment project at the "Al-Lazzaka 2" field [Al-Lazakah, Allizaqa ] field [in Nineveh Governorate], and in iron ore extraction.
The Iraqi Cabinet has approved a recommendation allowing the Ministry of Oil, through the Basra Oil Company (BOC) , to allocate part of the 2025 budget for the Majnoon Oil Field to fund a new infrastructure project. By John Lee.
Nakilat) said Sunday it had launched the first financing package with the Export-Import Bank of Korea (KEXIM) for 25 conventional liquefied natural gas (LNG) carriers commissioned from South Korean shipyards. QatarEnergy says the Golden Pass and the North Field expansion projects will more than double its LNG production capacity.
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields.
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