article thumbnail

Libya’s Eastern Government Warns Of Force Majeure on Oil Ports and Fields

OilPrice

The eastern government of Libya may declare force majeure on oil export terminals and oilfields due to repeated assaults on the National Oil Corporation (NOC), said the government based in Benghazi.

article thumbnail

Offline for a Decade, Libya’s Mabruk Field Restarts Production

OilPrice

Libya has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) revealed on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, with plans for an increase to 25,000 bpd by July. mb/d currently to 2 mb/d in 2028.

Field 284
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Iraq Hands BP Final Approval for Kirkuk Oil Development

OilPrice

British Oil & Gas giant BP Plc (NYSE:BP) has received final approval by the Iraqi government for the redevelopment of the giant Kirkuk oil fields, with an initial plan to produce 3B boe. BP will develop Iraq's Kirkuk oil and gas fields based on a profit-sharing model, Iraqi oil ministry officials have revealed.

Oil 294
article thumbnail

Iraq Seals Major Oil Deal with Chinese Company

OilPrice

Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. Per an AFP report, the deal will also involve the construction of a petrochemicals facility and a fertilizer plant.

Refinery 289
article thumbnail

bp and Iraq finalize contract for Kirkuk oil field redevelopment

Oil & Gas 360º

(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. Calgary, Canada – September 21, 2012: BP’s Canadian head office in Calgary Alberta. Mohammed Shia’ Al Sudani, H.E.

Field 130
article thumbnail

Trinidad and Tobago Expands Offshore Oil and Gas Bidding

OilPrice

While some operations are under threat due to the introduction of sanctions on neighbouring Venezuela, the government hopes to expand several of the countrys oil and gas fields in the coming years. Trinidad and Tobago has long

Gas 227
article thumbnail

Space Sector Success Adds Billions to UK Economy

OilPrice

The field has secured 80m more in European Space Agency (ESA) contracts than government contributions in late 2024, the highest return for any ESA member state. Science secretary Peter Kyle has hailed the UK space sectors recent achievement as proof that the UK is a launchpad for innovation and investment.

Field 219