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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. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily.
(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.
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.
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.
Rebalancing IOCs Positioning in the Upstream Petroleum Sector in Iraq The Ministry of Oil (MoO) recently concluded an agreement with BP covering four main oilfields in Kirkuk , following an earlier contract with an unidentified Ukrainian company to resume development of the Akkas gas field. Read more of Mr Jiyad's biography here.
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.
Image by Adele Heidenreich via iStock Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies SE, according to a special adviser in the presidency.
Minister of Petroleum and Mineral Resources Karim Badawi held a regular meeting with members of the House of Representatives and the Senate within the framework of enhancing communication and integrated work between the Ministry and the parliamentary councils. He noted that these incentives led to saving part of the import bill by $1.5
In respect to the Petroleum sector, Minister Kouchouk stated that some EGP 75 billion is allocated as a subsidy for petroleum products, an additional EGP 75 billion to support electricity, and EGP 3.5 The post Cabinet Approves 2025/2026 Budget with Allocations for Petroleum Sector first appeared on Egypt Oil & Gas.
It also opens new horizons for export to foreign markets, capitalizing on the growing global demand, especially with the petroleum sector having the technical and logistical components needed for success. The project aims to meet the local demand expected for this type of green fuel over the next few years.
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.
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.
Minister of Petroleum and Mineral Resources Karim Badawi met with bPs Executive Vice President for Gas and Low Carbon Energy, William Lin, along with other bp officials, to talk about the company’s business progress, investments plans in Egypt, and the development of its new two major discoveries in the Mediterranean region.
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.
On the sidelines of CERAWeek 2025, Minister of Petroleum and Mineral Resources Karim Badawi held meetings with CEOs of international companies to discuss production and investments. The post Egypt, Global Energy Leaders Hold Talks on Field Development, Production, Investments at CERAWeek 2025 first appeared on Egypt Oil & Gas.
For two months in a row, the Organization of the Petroleum Exporting Countries and its allies have agreed to make super-sized production increases that surprised traders and drove down prices. Italys Eni SpA has made similar comments about the giant Kashagan oil field.
His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Gatti served on the Board of Helix Energy Solutions Group, Inc.
On the sidelines of the OMC Med Energy Conference and Exhibition 2025 in Italy, Minister of Petroleum and Mineral Resources Karim Badawi met with Mohamed Arkab, the Minister of Energy, Mines, and Renewable Energy of Algeria, and his accompanying delegation.
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. Have a read here if you wish.
President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to address the status of the new exploration and drilling activities, particularly in the Fayoum 5 oil and gas field in the King Mariout area, to enhance Egypt’s oil and gas reserves.
The successful development and increase in gas production at the Raven field in the Mediterranean Sea, also in partnership with bp, were also reviewed. The meeting addressed the company’s interest in increasing its investments in Egypt, in line with the strategy of the Egyptian Ministry of Petroleum and Mineral Resources.
This decrease is linked to the natural decline in the Tweneboa, Enyenra, and Ntomme (TEN) field, leading to an escalation in the gas-to-oil ratio and water production in the Jubilee and Sankofa fields. million barrels, the TEN field produced 5.02 million barrels, and the Sankofa-Gye Nyame field yielded 8.46
On the sidelines of his participation in CERAWeek 2025, held from March 10-14, 2025, in the USA, Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with Director General for Economic Policy in the German Federal Ministry for Economic Affairs and Energy and Ministry Coordinator for Sustainable Development.
Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency Rule 4.3A
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. The country’s first field began producing in 1958 at a rate of 5,100 BPD. That was formed in 1977 under the name National Nigeria Petroleum Company.
Occidental Petroleum & Ecopetrols Partnership: Occidental Petroleum (Oxy) continued to expand its Permian operations through a joint venture with Colombian oil company Ecopetrol. While the region's mature fields are declining, new projects are helping stabilize production and extend the Gulfs viability as a key energy source.
Between turbulent economic market conditions and the transformation of the global energy landscape, upstream oil and gas organizations face increasing pressure to exploit new finds and enhance recovery from existing fields. In this volatile business climate, data is a key differentiating asset.
The statute is designed to promote quick, efficient cleanup and internalize costs within the petroleum industry. These types of damages, however, have long been prohibited under the general maritime law (the default body of federal common law governing maritime cases) under the familiar Robins Dry Dock rule.
The Professional Petroleum Data Management Association (PPDM) provides a collection of standardised symbols to represent wellbores. Petroleum For data related to the petroleum industry and its activities, Shell has created an industry standard style, which is available for use in ArcGIS Pro.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders.
Gulf Keystone Petroleum (LSE: GKP) provided an operational and corporate update ahead of its AGM on Friday, reaffirming its 2025 production and financial guidance despite regional uncertainties. Regarding exports, Gulf Keystone continues to engage with government stakeholders to resume oil exports through the Iraq-Türkiye Pipeline (ITP).
Gulf Keystone Petroleum (GKP) today announced its results for the full year ended 31 December 2024. By John Lee. Shares were trading up more than two percent at lunchtime. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "2024 was a year of strong operational and financial delivery for Gulf Keystone. bbl (2023: $40.9/bbl)
On April 23, Abbott signed the first law of this years legislative session, a bill creating a new regulation-cutting agency inspired by Elon Musks federal Department of Government Efficiency (DOGE). What this law is going to do is make government more efficient and less costly. million over the next five years.
These developments forced policymakers in oil-producing US states such as Louisiana, Oklahoma, and Texas to intervene to ration oil production with the support of the Federal government. It was able to control production after the Texas National Guard occupied the oil fields in East Texas. They were managing the market!
In a statement on Saturday, the Ministry said it has called on Kurdistan authorities to hand over the produced quantities from operational fields to the State Oil Marketing Organization (SOMO) to begin exports via the Iraq-Turkey pipeline and Ceyhan Port, under contracts signed with the nominated companies. Sources told Reuters that U.S.
President Donald Trumps first 47 days in office have been marked by a rapid overhaul of government and policy, including mass layoffs and the reversal of many of the policies of the previous administration. ” Rising costs in aging shale fields are also a challenge. “Youre starting to see producers hold back their capital.
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