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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.
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.
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.
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.
(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.
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
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.
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.
The Council of Ministers has approved an accelerated plan to develop the Akkas gas field in Anbar as part of the government's strategy to advance the oil and gas sector. The field is expected to produce 100 million standard cubic feet of gas per day within one year.
BP has reached a contractual agreement with the Government of Iraq to invest in the rehabilitation and redevelopment of several giant oil fields in Kirkuk. We thank the Government of Iraq for the trust and privilege to deepen our cooperation in-country. " By John Lee.
The government of Kazakhstan is talking with the supermajors operating its oil fields to reduce production in line with the OPEC+ agreement to which the Central Asian country is a party.
HKN Energy and ONEX Group have signed a binding term sheet with the Kurdistan Regional Government (KRG) to develop the Miran gas field through their new joint venture, Miran Energy. Located in the Kurdistan Region of Iraq, the Miran gas field is estimated to contain 8 trillion standard cubic feet (scf) of recoverable natural gas.
Chevron started its seabed survey operations in early summer, adhering to the timetable for the construction of a strategic pipeline that will connect the Aphrodite gas field in the Eastern Mediterranean to Egypt, according to a statement by the government of Cyprus.
billion, 20-year deal to take over the 75,000 barrel per day Block 60, or Sacha oil field. While the government has said that the consortium will boost production and revenue from Sacha, the planned handover without a tender has sparked criticism from former oil industry officials, trade unions, and politicians.
Missan Oil Company has successfully transported its first sulphur shipment, weighing 80 tons, from the Halfaya oil field to its sulfur storage facilities located north of the Bazargan field. Source: Ministry of Oil) The post First Sulphur Shipment from Halfaya Field first appeared on Iraq Business News.
A prominent economist, author, podcaster, and talent investor discusses how to better match human talent to opportunities, de-bureaucratize philanthropy, achieve higher-quality governance, and identify fields of likely progress, and how to get it all done.
Offshore Energies UK said that local energy production was estimated at some 2 billion to 3 billion barrels of oil equivalent until 2050, under the governments net-zero plans, which estimate total energy demand of 13 to 15 billion barrels of oil equivalent in that period. By Irina Slav for Oilprice.com
The US government has extended by a further two years the secondary sanctions assurance relating to the UK Rhum field, which is half owned by Iran, the other owner Serica said February 27. The field has benefited from an OFAC licence continuously since 2013 and the licence was last renewed two years ago.
Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment, the president of the Colombian Oil and Gas Association said, as quoted by Reuters. (Oil Price) –Crude oil and natural gas investments in Colombia could rise to $4.68
bp announced that it 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. The post bp, Iraq Reaches Final Agreement to Develop Kirkuk Fields first appeared on Egypt Oil & Gas.
We heard that a lot of folks are struggling with AI governance. So we introduced a new AI governance solution this year that enables customers to adopt best practices from frameworks like the National Institute of Standards and Technology’s AI Risk Management Framework. But there are certainly new AI risks on the technical front.
The meeting further tackled Baker Hughes role in enhancing technological progress in the oil and gas sector, as well as providing advanced engineering and technical solutions for deepwater offshore fields. In a separate meeting , Badawi talked with Patrick Pouyann , Chairman and CEO of TotalEnergies.
The Libyan government has officially launched the 2025 bid round for oil exploration, a long-anticipated move that marks a significant milestone in the countrys efforts to revitalize its energy industry. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
The Oil Ministry has reaffirmed its commitment to the development of the Akkas gas field , with Deputy Minister for Extraction Affairs, Eng. Discussions focused on expediting development plans to ensure gas supply for power generation, aligning with government directives to maximize gas investment and enhance energy security.
Dana Gas has announced accelerated development at Kurdistan's Khor Mor and Chemchemal fields. Khor Mor field development The companies announced that daily production from Khor Mor in early March reached 525 MMscfd of natural gas, a growth of 75% since 2017, in addition to 15,200 b/d of condensate, and 1,070 t/d of LPG. By John Lee.
.’ He was joined by Khaled Abu Bakr, Chairman of TAQA Arabia, alongside a select group of Egyptian and international company officials, leaders, and experts in the field of renewable energy. The session was held as part of the Egypt-France Business Forum.
Tullow Oil and its partners have signed a memorandum of understanding (MoU) with the Government of Ghana to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licenses to 2040
The operational performance delivered from the Tawke and Peshkabir fields, together with the significant cost efficiency, continues to set these fields apart from others in the region.
ESG refers to environmental, social, and governance factors that can affect a company’s performance and impact on society and the environment. In the context of an oil and gas field company, ESG considerations are becoming increasingly important for several reasons.
(BOE Report) – Kazakhstans energy minister will stand down from his role, the countrys presidential office said on Tuesday, as the government struggles to convince U.S. The ministry has said the increase was due to the expansion of the Tengiz field, led by Chevron, and pledged to comply better with its quota.
Chief Executive Officer Mike Wirth told analysts that his company had received no instructions from the government to rein in its massive Tengiz oil project, which is largely responsible for a recent surge in Kazakhstans production. Italys Eni SpA has made similar comments about the giant Kashagan oil field.
Kazakhstan, the largest over-producer in recent months, may be forced to make additional withdrawals from its oil fund by the fall to cover planned government spending amid lower prices, Halyk Financesaidin a research note. billion expansion of the Chevron-led Tengiz oil field is due to become fully operational this quarter.
bp has reached agreement on all contractual terms with the Government of the Republic of Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields.
They discussed ways to enhance cooperation between the two countries in areas including exploration, field development, refining and petrochemicals, as well as LNG trade and marketing. They also reviewed development plans for the Nour and Narges fields in the Mediterranean Sea.
New Zealand will co-invest in new gas fields in the country, the government announced in its budget on Thursday, as it looks to attract investments into the sector
Washington has imposed sanctions on Venezuelan energy exports since 2019 to reduce the oil export revenue that funds the government of President Nicolas Maduro, who has held power for more than a decade with elections that observers say were fraudulent. Mixed bitumen, or bitumen blend, is a tar-like residue for processing into asphalt.
Iraq's Minister of Oil, Hayan Abdul Ghani, highlighted the government's commitment to gas investment as a key driver for economic and industrial development at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday. On renewable energy, Iraq has secured commitments for 8,000 MW of solar power at oil field sites.
The Kurdistan Regional Government (KRG) and Iraq's federal government have entered into a new dispute over the legitimacy of two major energy agreements signed with American companies. HKN Energy, in partnership with ONEX Group , announced the formation of a joint venture called Miran Energy to develop the Miran gas field.
Over the course of Thursday and Friday - days III & IV - of India Energy Week 2025 that put us on the home stretch of the global event, conversations turned more meaningfully towards the Indian government's assertion of placing a 'gas economy' at the heart of its march to net zero by 2070.
Western companies have either sold or ceded energy assets to Russian firms and European governments have taken over units of Russian energy firms, while Moscow has taken retaliatory measures against Western companies with units in Russia. The company was renamed Sefe (Securing Energy for Europe), and the German government injected 6.3
Although it is a necessary field for sustaining the world economy, there is little doubt about the fact that mining operations need to be made more ecofriendly if the industry itself has to have a future. Doing so isn’t as difficult as it used to be, thanks to the rapid advancements made in the field of mining technology lately.
Within the framework of his current visit to India, Hassan El-Khatib, Minister of Investment and Foreign Trade, met with Ranjit Gupta, the Founder and CEO of OCIOR Energy, to discuss ways to enhance cooperation in the field of clean energy and sustainable investments in Egypt.
It also got an approval from the Iraqi government to start the development of two oil fields in the north. and its prolific assets in Guyana, and it just started a major expansion at the Tengiz field in Kazakhstan that will add 260,000 bpd to the mammoth fields production. BP is very much back.
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