West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
Italy's Eni has discovered gas at the Nooros exploration prospect in the Abu Madi West license, in the Nile Delta, offshore Egypt. Preliminary estimates of the discovery account for a potential of 15 Bcm of gas in place with upside, plus associated condensates…
UK-based Cluff Natural Resources says it has made 'significant progress' on its plans for exploration drilling in southern North Sea licenses. The company was formed to exploit underground coal gasification (UCG), but it is also exploring for natural gas in the southern North Sea…
Oil output at the giant Jubilee field has been constrained after gas output was suspended 3 July due to technical issues with gas compression systems on the floating production, storage and offloading (FPSO) vessel Kwame Nkrumah, says operator Tullow Oil…
Halliburton's wireline and perforating business introduced the Reservoir Monitor Tool 3-Detector (RMT-3D) pulsed-neutron tool that helps solve for water, oil, and gas saturations within reservoirs using three independent measurements (Sigma…
Enterprise Products Partners LP executed definitive agreements to sell its offshore Gulf of Mexico pipelines and services business to Genesis Energy, LP for approximately US$1.5 billion in cash. Image from Enterprise…
ARKeX announced it has been awarded the first geological and geophysical oil and gas exploration permit by the Bureau of Ocean Management (BOEM). The ARKeX survey will acquire an airborne broadband gravity and magnetic survey over Outer…
Despite over 37 billion bbl remaining in proven reserves, oil production in Nigeria is forecast to falter due to underinvestment, with the country’s oil and gas sector in desperate need of reforms and transparency to reverse this trend, according…
Freeport-McMoRan has appointed Doss R. Bourgeois president and COO for Freeport-McMoRan Oil & Gas. Bourgeois has been a major part of the success of Freeport-McMoRan Oil & Gas and its predecessor companies. The company said that Bourgeois'…
Permasense has opened an Aberdeen office to demonstrate its commitment to upstream clients. This follows the recent launch of ET210 – Permasense’s product for the real-time monitoring of corrosion and erosion at upstream oil and gas assets…
Sanctions on Iran’s oil production look set to be lifted after the country and six world powers finally reached a deal over the country’s nuclear program. The agreement, reached after two years of discussions, following a 12-year stand…
MX Oil agreed to invest in an indirect, non-operated 5% revenue interest in the OML 113 license, offshore Nigeria, which includes the Aje field, a substantial development stage project with proven, flow tested discoveries where production is expected by January 2016…
The first step towards lifting sanctions on Iran’s oil production could be taken tomorrow (14 July) in a deal that would open up its territory to western nations and see the country’s oil exports double in the next six months is agreed. Image…
The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for well 7220/6-2, in the Neiden prospect, which contains 200 MMboe gross prospective resources. The drilling program for well 7220/6-2 relates to the drilling of a wildcat well in production license 609…
Two consortia of oil services companies have been selected to compete for an EPIC contract on Africa's first floating LNG project through two front end engineering and design contracts. The move will pitch McDermott Marine Construction…
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