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Equinor has made an oil discovery near Johan Castberg, which could boost reserves at the giant field in the Arctic Barents Sea. Equinor, whose Johan Castberg field has recently reached peak production, has struck oil in exploration well Drivis Tubåen, the Norwegian energy major said on Monday.
Iraq’s Dhi Qar Oil Company has raised oil production by a combined 80,000 barrels per day across three strategic southern fields, Nasiriyah, Gharraf, and Saba, IraqiNews reported on Monday, marking one of the country’s most significant boosts this year as OPEC+ opens the door to higher member output.
Libya’s National Oil Corporation (NOC) has signed agreements with supermajors BP and Shell to explore and evaluate the oil and gas potential of several fields in the African country, marking another step in Big Oil returning to doing business in Libya. Separately, the Libyan oil…
Supermajors Shell and TotalEnergies expect to raise oil and gas production over the next two years from projects they operate in Africa’s top oil producer, Nigeria.
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…
China National Offshore Oil Corporation (CNOOC) has fully launched the second phase of its Deep-Sea No. 1 natural gas project in the South China Sea, boosting domestic output by 4.5 billion cubic meters (bcm) per year.
Iran is targeting a dramatic increase in oil production from the fields it shares with neighbouring Iraq, according to the chief executive officer of its Petroleum Engineering and Development Company (PEDEC), Nasrollah Zarei. Other notable major shared fields among many others -- are Azar (on the
Chinas state energy company CNOOC said today it had discovered a new oilfield in the South China Sea that could contain over 100 million tons of crude oil, equal to around 733 million barrels. Dubbed Huizhou 19-6, the field is located some 100 miles offshore the province of Shenzhen.
CNOOC has installed the largest and heaviest offshore platform at a field in the Bohai Sea, the company said today, boasting the facility was 22.8 The platform was installed at the Kenli field, at a depth of some 20 meters, which has proven reserves of some 100 million tons of crude oil. meters high and weighed over 20,000 tons.
Several foreign experts working with oil companies in Iraq have recently left the country amid the escalating Israel-Iran conflict, Shafaq News reported on Thursday, citing a senior source in the industry.
This year will see the highest amount of new oil supply in a decade, according to data analyzed by Raymond James that showed projected global additions of nearly 3 million barrels daily. But only if the price is right. Production expansions
British Oil & Gas giant BP Plc (NYSE:BP) has received final approval by the Iraqi government for the redevelopment of the giant Kirkuk oilfields, 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.
The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston.
Shale titan Harold Hamm isnt mincing wordsif oil prices stay this low, drilling in some of Americas prized shale fields could grind to a halt. Speaking at CERAWeek in Houston, the Continental Resources founder warned that with oil hovering near $65 a barrel, many U.S. fields are already on shaky ground.
Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. The Portuguese firms production in Brazil is about 110,000 barrels of oil equivalent per day (boepd) at present.
Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area. Saudi Arabia and Kuwait announced on Monday that Wafra Joint Operations had made a new oil discovery in the North Wafra Wara-Burgan field, located 5 kilometers (3.1
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.
billion (13 billion Norwegian crowns) in the Phase 3 expansion of the Johan Sverdrup oilfield in the North Sea, Western Europe’s biggest oil-producing field. Equinor and its partners have decided to invest $1.3
Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstans Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. million tons of crude oil and condensate in 2025, or about 2 million barrels per day (bpd), which would be 9.7%
(World Oil) – Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record. Waha Oil Co., Eni SpA and Exxon Mobil Corp. million bpd.
According to the Chairman of Libyas National Oil Corporation, Masoud Sulaiman, Libya plans to increase its oil output from 1.4 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.
Only three months after coming on stream, Equinor’s Johan Castberg field in Barents Sea has started producing at peak capacity of 220,000 barrels of oil per day…
Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oilfield, 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) – Nigerian energy company Green Energy International (GEIL) has completed the development of the Otakikpo onshore terminal, situated in OML 11 near Port Harcourt. As the country strives to produce two million bpd, projects of this nature will support new investments by providing a direct route from offshore fields to market.”
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.
(Oil Price) – Kazakhstan’s crude oil output jumped 7.5% Total oil and condensate production rose to 2.15 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. in June to 1.88 This puts Kazakhstan well over its official OPEC+ quota of 1.5
(Oil Price) –The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston. Atkinson authored a report in partnership with Mark P.
Investments in Norways oil and gas sector are set to hit a record high this year, led by increased investments in operating fields, Statistics Norway said on Tuesday in its latest survey of companies investment plans. billion (269 billion Norwegian crowns), up by 6% compared to the estimates in the previous quarter.
Chevron and TotalEnergies just flipped the switch on oil production from the Ballymore project in the deepwater Gulf of Mexico, with the project expected to pump around 75,000 barrels of oil per day at its peak. Chevron leads the project with a 60% stake,
Namibia expects Frances TotalEnergies and Norways BW Energy to take final investment decisions on oil projects offshore the African country in late 2026, a senior Namibian official says.
Pakistan has recorded the first substantial increase in its domestic oil reserves since 2020, with new discoveries and higher production leading to a 23% annual increase in reserves to 238 million barrels as of December 2024.
A new oil and gas project in the North Sea has been greenlit by Norwegian oil major Equinor and its Fram partners, which plan to invest NOK 21 billion or USD$2 billion. The Fram Sør project is a combined development of several discoveries that will export oil and gas via Troll C. The Troll field…
Neighbouring Guyana has attracted attention from numerous international oil majors eyeing Caribbean oil and gas, which has, in turn, garnered greater attention in Trinidad and Tobagos energy sector. Trinidad and Tobago has long
Oil and gas companies are looking to get the most bang for their buck in exploring for hydrocarbon resources. Those lucky enough to have made an early bet on what are now the huge frontier plays, such as Guyana, are seeing exploration expenditures and efforts pay off with large oil and gas discoveries. Since conventional
billion (NOK 13 billion) investment in the third phase of Johan Sverdrup field, which entails the installation new… Equinor and its partners have approved the $1.29
(World Oil) – bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. We hope to apply bp’s experience from redeveloping and managing giant oilfields around the world.”
(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oilfields in Kirkuk, in the north of Iraq. This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio.
(World Oil) –MOL has discovered a new oilfield near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
Albertas wildfire season is off to a fiery start, with a major blaze near the town of Swan Hills prompting evacuations and temporarily shuttering oil operations. Aspenleaf Energy, active in the area, has shut in about 4,000 boepd and evacuated field crews out of precaution.
Amid the escalating conflict in the Middle East, Italian energy major Eni has reduced the number of staff at the Zubair oil and gas field in Iraq as a precautionary measure, an Eni spokesperson told Reuters on Monday. The Israel-Iran conflict that began earlier this month took a major turn this weekend after the U.S.
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oilfields 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.
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.
million barrels of oil equivalent. million barrels of oil equivalent. Image by Ole Arnesen via iStock The Norwegian Offshore Directorate said ConocoPhillips Skandinavia AS, operator of production license 891, had confirmed the Slagugle oil discovery. million standard cubic meters of oil equivalent (approximately 30.8
says its Delo 600 ADF 10W-30 and Delo 600 ADF 15W-40 heavy-duty engine oils have been approved for use in Cummins mobile natural gas engines. Chevron Products Co.
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