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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. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily.
(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.
This comprises a development project to increase production at the Tuba oilfield from 20,000 barrels per day (bpd) to 100,000 bpd, constructing a 200,000-bpd high-specification refinery, and building a 620,000 tonnes annual capacity petrochemical plant, according to Iraqs Oil Ministry.
As geopolitical tensions escalate, energy professionals are closely monitoring the situation’s impact on oil prices, market dynamics and long-term industry outlook. Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month.
Logistics management in the oil and gas industry plays a critical role in ensuring safe, timely, and cost-effective movement of materials, equipment, and personnel across upstream, midstream, and downstream operations. Supply Chain Coordination Integrating vendors, freight forwarders, customs brokers, and field operations.
Image by Marco Curaba via iStock Abu Dhabi’s main oil company is evaluating whether it can buy some of BP Plc’s key assets should the embattled British firm decide to break itself up or come under pressure to divest more units, according to people with knowledge of the matter. Abu Dhabi National Oil Co.
(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Average annual crude oil production in Alaska peaked at 2.0
Halliburton and Honeywell in advanced talks to develop oilfields and refineries in Libya; Eni importing more oil and gas from Algeria “North Africa’s massive oil-and-gas reserves and its proximity to Europe make it an attractive alternative energy supplier to Russia.
Together, upstream oil and gas investment for 2025 is forecast at less than US$570bn, a decline of around 4%. Of this, 40% is dedicated to slowing down production declines at existing fields. Global refinery investment in 2025 is set to fall to its lowest level in the past 10 years. trillion going to oil, natural gas and coal.
AI in oil and gas is propelling the industry to new heights. The oil and gas industry has always been driven by innovation, and today, artificial intelligence (AI) is pushing the sector into a new era of efficiency, precision, and profitability. Digital twinsvirtual models of physical assetsare also transforming maintenance strategies.
Oil and gas exports are a key revenue source for Moscow. Here is a summary of some of the energy assets and companies affected: SAKHALIN-1 OIL AND GAS PROJECT Exxon MobilCorp (NYSE: XOM ) held a 30% operator stake in Sakhalin-1, which is a project to develop oil and gas off the coast of Sakhalin Island. In 2022, Exxon took a $4.6
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 oilfield sites.
MOL announced discovering 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. Gyrgy Bacsa, COO of MOL Hungary added.
This came during the general assembly meeting of the Middle East OilRefinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024.
The oil and gas sector has long been a cornerstone of the global economy, providing energy, raw materials, and substantial economic contributions. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.
The Prime Minister reaffirmed ongoing efforts to resume oil exports from the Kurdistan Region of Iraq (KRI), noting that discussions with international oil companies are underway to resolve technical issues preventing exports.
McKinsey estimates mid-size refineries lose $20–50 million annually due to reliability issues. In this scenario, we have a variety of electric motors in the field, sending sensor readings. Sensor data arrives in JSON format, including a motor ID field. The field service team should respond promptly to this urgent situation.
Are you interested in working for or already working in the thermal insulation field of an oilrefinery or industrial processing plant? If so, youve come to the right place to learn more about thermal insulation. Here, we answer some of the most frequently asked questions about insulation and its use.What is Insulation?Essentially,
The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration.
Iraq's Ministry of Oil has signed a major contract for the South Basra Integrated Project with a consortium comprising China's Geo-Jade Petroleum and Iraq's Crescent Basra (Hilal Al-Basra). Oil Minister Hayan Abdul Ghani described the deal as a strategic leap in developing Iraq's oil wealth and supporting the national economy.
This will boost the company’s ability to expand the scope of its business in international markets in the fields of operation and maintenance. This is in addition to providing technical support services at the Warri and Kaduna refineries and petrochemical plants in Nigeria.
Minister of Petroleum and Mineral Resources Karim Badawi held meetings with Clay Neff, President of Chevron International Exploration and Production, and Dong Sub Kim, President & CEO of Korea National Oil Corporation (KNOC), focusing on investments and capacity building.
Low-power sensors already help monitor oil and gas operations, but the true benefit of this real-time visibility will lie in data-driven decision-making throughout the supply chain. This IoT tech is capable of gathering, transmitting, and utilizing data and its already making waves in the oil and gas industry.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Each sector has distinct activities and focuses on specific aspects of the overall oil and gas supply chain. What is oil and gas upstream midstream downstream?
oil and gas industry is experiencing one of its most transformative periods. oil & gas basins , the leading companies , and market trends using the latest data and forecasts. 2025 Forecast Projected Crude Oil Output: 6.6 Exxon, Chevron, and Shell Are Betting on Carbon CaptureIs It the Future? We analyze major U.S.
Minister of Petroleum and Mineral Resources Karim Badawi attended the General Assembly meeting of the Middle East Oil Tankage & Pipelines (MIDTAP) company to discuss its 2024 performance. The post MIDTAP Achieves Unprecedented Growth in Petroleum Trading, Zero Accidents, Injuries in 2024 first appeared on Egypt Oil & Gas.
mmboed in the first quarter of 2025 and made 14 new oil and gas discoveries in the Eastern Province and Empty Quarter. Downstream, Aramco made progress in capital projects such as the construction of the refinery-integrated petrochemical steam cracker being developed by S-OIL, the Amiral expansion at the SATORP refinery, and other projects.
The Marjan and Berri increments are expected to be onstream in 2025, with the Zuluf field increment scheduled to follow in 2026 and the second phase of Dammam in 2027. Phase One of its Jafurah unconventional gas field development remains on schedule for 2025, with contracts awarded for Phase Two.
As if crude producers and midstream transportation companies don’t already have enough problems trying to get crude oil from production fields to refineries thanks to inadequate pipeline infrastructure, tank car supply, rail safety concerns, and new regulations, they now also have to address a new, potentially market-busting lawsuit.
That career took him and his family from Illinois (the Salem field) to Kansas and to Oklahoma. Shortly before his death, I was with him in the oil country of Oklahoma that he knew so well, and I asked him a question about drilling. the son of a refinery worker. Jess Mullins, Sr., To Equador. Jess Mullins grew up in Tulsa, Okla.,
(Oil & Gas 360) – Over the past few weeks, several headlines regarding the international oil business have surprised market watchers: A note on the news: Break-even oil prices- oil and gas 360 The news that the OPEC+ group decided to increase its production rate in May by 411,000 barrels a day (b/d).
1 Follow your favorite stocks CREATE FREE ACCOUNT Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran. 1 Follow your favorite stocks CREATE FREE ACCOUNT Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.
(World Oil) –Oil giant Saudi Aramco signed agreements with major U.S. covering collaborations and partnerships on liquefied natural gas, fuels, chemicals, emission-reduction technologies and artificial intelligence, among other fields, Aramco said in a statement. companies potentially totaling about $90 billion.
May 19, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Oil rises as Iran talks stall Summary : Oil prices rose as Iran downplayed progress in nuclear talks, with Brent settling above $65 (up over 1%) and WTI topping $62. bcm, crude oil increased 1.5%
McNeal has been practicing law since 1984 and is an experienced litigator who has tried cases concerning the cleanup of legacy oilfield properties, class actions, environmental citizen suits, refinery-related litigation, pipeline matters, oil and gas disputes, landfill suits, and commercial litigation. Mr. McNeal received his LL.M.
Israel started its military strikes on Iran last Friday and has hit scores of targets in residential and commercial areas of the capital Tehran as well as nuclear facilities, gas fields and oilrefineries. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! There’s a reason 700K+ energy professionals have subscribed.
Since then, the Trump Administration imposed sanctions on Iranian oil. Our research, shared months ago, shows that sanctions and tanker blacklisting have little impact on Iranian oil exports. This may raise oil prices temporarily, as US options for dealing with China are limited. As expected in our December 4 note, none worked.
The Keystone Pipeline is a system of petroleum pipelines designed to transport crude oil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S energy security, and oil prices. [7]. Constitution. Background. Gulf Coast.
Background The Keystone Pipeline is a system of petroleum pipelines designed to transport crude oil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S energy security, and oil prices. [7] Constitution. Gulf Coast. 8] This time, the permit was approved within two months, on March 23, 2017.
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