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(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters.
He cited the reactivation of fifth licensing round contracts, the development of Akkas (400 mmscfd) and Mansouriya (300 mmscfd) gas fields, and the award of 14 new gas exploration blocks. On renewable energy, Iraq has secured commitments for 8,000 MW of solar power at oil field sites.
This came during the general assembly meeting of the Middle East Oil Refinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024. Butane production also increased by approximately 40%, covering approximately 5% of local market needs, as Lotfy said.
AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency. AI-powered systems can fine-tune extraction techniques, monitor pipeline integrity, and adjust refinery processes to maximize output while reducing the risk of inefficiencies.
MOL announced discovering a new oil field near Somogysmson in Western Hungary. As a landlocked country, our oil supply is largely via pipelines and intermediaries. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters.
Assets: Upstream assets include oil and gas fields (land and mineral rights), drilling rigs, production platforms, and wells. Key Processes: Transportation via pipelines, rail, trucks, or ships; storage in tanks or other facilities; and marketing for wholesale distribution. This includes both onshore and offshore activities.
The benefit here lies in the high profitability associated with discovering and producing new oil and gas fields, especially when oil prices are high. Midstream Investments; Transportation and Storage : The midstream sector focuses on transporting and storing oil and gas from production sites to refineries and end-users.
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 total volume of petroleum products traded on the company’s marine dock reached 4.7 million tons in 2024, compared to 1.6 million tons in 2023.
Bayraktar expressed Trkiye's interest in expanding energy ties, including refinery and petrochemical projects, and emphasized the importance of exporting Iraqi oil through the Ceyhan port. He also highlighted investment opportunities within the Strategic Development Road Project.
Pipeline vandalism, militant attacks on infrastructure, protests and lawsuits are among the issues that have plagued Nigerias oil industry for years. The country’s first field began producing in 1958 at a rate of 5,100 BPD. The government has been fighting the illicit refineries for years. How did this happen?
Similarly, accidents from pipeline leakage to oil spills can incur large fines and significant reputational damage. Smart companies are investing in proactive monitoring through the IoT, replacing intermittent manual checks on pipelines, pumps, and filters with more efficient and accurate automatic checks.
However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5 This pipeline has significantly reduced flaring, stabilized natural gas prices at the Waha hub, and enabled higher oil production by ensuring gas associated with oil drilling can be transported efficiently. Bcf/d of takeaway capacity. MMBbl/d , a 0.3
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.
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.
Section 6 of the Order revoked TransCanada Keystone Pipeline, L.P.’s s March 2019 permit to construct and operate cross-border pipeline facilities at the U.S.-Canada Critical to the success of this project is TC’s attainment of a Presidential Permit allowing the company to construct a pipeline that crosses the border between the U.S.
Section 6 of the Order revoked TransCanada Keystone Pipeline, L.P.’s s March 2019 permit to construct and operate cross-border pipeline facilities at the U.S.-Canada 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
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