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MOL discovers new oil field in Western Hungary

Oil & Gas 360º

(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.

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IBBC Conference: Iraq Prioritises Gas Investment to Boost Growth

Iraq Business News: Oil & Gas

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.

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MIDOR Achieves 63% Net Profit Surge in 2024, Boosting Production

Egypt Oil & Gas

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.

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AI in Oil and Gas – A Game-Changer for Efficiency and Profitability

Aresco

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.

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MOL Makes New Oil Discovery in the Western Hungry

Egypt Oil & Gas

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.

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Upstream Midstream Downstream – What is the Difference?

Aresco

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.

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Investment Opportunities in the Oil and Gas Sector

Nestoil

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.

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