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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.
A damaged unit of the South Pars refinery’s Phase 14, which was hit by Israel in its first strike on Iran’s oil and gas sector, has returned to operation, the Iranian state-run agency Nour News reported on Thursday.
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Szzhalombatta. MOL has ambitious E&P investment plans.
This comprises a development project to increase production at the Tuba oil field 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.
Despite the shuttering of two of its three gas fields, Israel has managed to stave off blackouts as it leans on diesel and coal stockpiles alongside renewables. Iran’s direct strike on the 197,000 b/d Bazan refinery at Haifa could test Israel’s road fuel availability resilience.
The targeted nature of these strikes suggests a deliberate attempt to avoid major disruptions to international markets: the affected refinery and gas field serve Iran’s domestic consumption needs.
Block 15-1, an oil and gas block with one of the country’s largest reserves and one of the earliest to be developed, is located in the Cuu Long basin in the southern mainland of Vietnam and includes the Black Lion, Golden Lion, Brown Lion and White Lion oil and gas fields, according to the release.
ADNOC is most interested in BP’s LNG and gas fields, rather than taking over the entire company, though it has also considered that option, the people said. Adnoc isn’t interested in BP’s oil production assets or refineries, the people said. Abu Dhabi National Oil Co.
Halliburton and Honeywell in advanced talks to develop oil fields 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.
Given the sector’s complexity and geographical spread—from remote drilling rigs to refineries and distribution terminals—logistics is a key driver of efficiency and profitability. Supply Chain Coordination Integrating vendors, freight forwarders, customs brokers, and field operations.
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.
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. Together, upstream oil and gas investment for 2025 is forecast at less than US$570bn, a decline of around 4%.
billion euros for a stake in the Yuzhno- Russkoye oil field, one of Russias largest, in 2017, saying at the time that it could add 100,000 barrels of oil equivalent (boe) per day to its production. LUKOIL Lukoil, Russias second-largest oil producer, plans to raise around $2 billion from the sale of its Burgas oil refinery in Bulgaria.
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.
million bpd in 1988, and production has since fallen largely because of the production decline of mature oil fields, limited lease availability, and high exploration and production costs. The increased crude oil production will go to supply refineries in Alaska, the Pacific Northwest, and California.
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 oil refinery 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,
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.
MOL announced discovering a new oil field near Somogysmson in Western Hungary. The production of the new well is transported by truck to the Danube Refinery in Szzhalombattaand represents approximately 1% of the MOL Group’s total hydrocarbon production.
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.
The project includes: Increasing production at Al-Tubba [Tuba] field from 20,000 to 100,000 barrels per day (bpd). Constructing a high-specification refinery with a capacity of 200,000 bpd. Oil Minister Hayan Abdul Ghani described the deal as a strategic leap in developing Iraq's oil wealth and supporting the national economy.
For his part, Neff expressed his deep appreciation for the efforts of the Ministry of Petroleum and Mineral Resources (MoPMR) in fostering a positive investment climate in developing the East Mediterranean gas fields.
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.
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.
Aramco progressed its strategy to increase sales gas production capacity by more than 60%, including advancing procurement and construction activities for the Jafurah Gas Plant, part of the Jafurah unconventional gas field development, as well as for the Tanajib gas plant and Fadhili gas plant expansion.
He also emphasized the importance of continuing to adhere to occupational health and safety regulations, given the positive indicators the company has achieved in this field. 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.
Assets: Upstream assets include oil and gas fields (land and mineral rights), drilling rigs, production platforms, and wells. Assets: Downstream assets include refineries, petrochemical plants, distribution networks, and retail outlets (gas stations). This includes both onshore and offshore activities.
The country’s first field began producing in 1958 at a rate of 5,100 BPD. company has a 40-60 joint venture with the NNPC, which is the majority shareholder, and stakes in several offshore fields, including several deepwater blocks that have yet to be developed. The government has been fighting the illicit refineries for years.
Figure A Solids Management the Online Way For several decades, the operators of large storage tanks, such as those found at refineries, have installed permanent cleaning systems to remove solids without having to take tanks out of service. However, such systems are too costly for deployment in onshore field equipment.
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.
While the region's mature fields are declining, new projects are helping stabilize production and extend the Gulfs viability as a key energy source. By late 2024, 12 new offshore projects were set to increase production by 0.231 MMBbl/d, helping offset declining output from aging fields. MMBbl/d in 2025. MMBbl/d in 2025. Chevrons St.
Producers, wellhead service companies, refineries, shipping companies, and many other players are all part of the overall industry. One of the top benefits is seamless collaboration. A large number of partners need to collaborate in order to successfully extract, ship, and deliver oil and gas.
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.
The EU Emissions Trading System regulatory framework The EU Emissions Trading System (EU ETS) regulatory framework initiated its trial phase in 2005, initially focusing on the power and heat, refinery, cement, iron, steel, glass, and pulp and paper industries. In addition, most of Europeâs depleted oil and gas fields are located at sea.
That career took him and his family from Illinois (the Salem field) to Kansas and to Oklahoma. the son of a refinery worker. And ever since I have desired to be someone whose absence could mean that much. Jess Mullins, Sr., spent his entire working career as a drilling engineer for Texaco, Inc. To Equador.
covering collaborations and partnerships on liquefied natural gas, fuels, chemicals, emission-reduction technologies and artificial intelligence, among other fields, Aramco said in a statement. to evaluate an upgrade to the SAMREF refinery, with Amazon on digital transformation and lower-carbon initiatives and Nvidia Corp.
Israeli unmanned aerial vehicles struck the South Pars gas field in southern Iran on Saturday, according to Iranian state media reports. South Pars is one of the largest natural gas fields in the world. Iranian missiles, meanwhile, damaged a major oil refinery in Haifa, according to The Times of Israel.
These surveys compile break-even WTI prices corresponding to their operating costs for several different field areas. This is not the price paid an operator in the field. An oil companys field sale price is what the buyer will pay and is influenced by the nature of the oil and its location (transport distance from refinery).
Gasoline inventories fell by 1 million barrels, 3% below the five-year average, and refinery utilization rose to 90.2%. Daily production at the Sakarya field now reaches 9.5 Read more Gas prices hit lowest inflation-adjusted levels in years Summary : U.S. gas prices rose 6.1 cents to $3.14 cents to $3.50.
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 oil refineries. In response Iran has fired hundreds of missiles at Israel, most of them targeting Tel Aviv.
However, China has previously prohibited these majors from directly importing Iranian and Russian oil, while encouraging independent refineries, unconnected to the U.S. Since then, Iran developed new fields producing crude suited for Chinese refineries. Currently, no old fields remain to close. or Europe, to do so.
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 Constitution. Gulf Coast.
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 Constitution. Background. Gulf Coast.
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