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Oil & Gas
Oil Price
Oil Prices Post 3% Annual Decline
Natural Gas
06-01-2025
KUFPEC Deal to Ensure Energy Security
Petroleum Exploration (Pvt) Limited (PEL) has acquired key energy assets from Kuwait Foreign Petroleum Exploration Company (Kufpec).This strategic move not only solidifies PEL's position in the energy sector but also strengthens the country
Oil & Gas Trade
06-01-2025
Iraq Surpasses Saudi Arabia in Weekly Oil Exports to US
Oil tankers dock at a floating platform, offshore from the southern Iraqi port cityThe US Energy Information Administration (EIA) announced on Saturday that Iraq was the second-largest oil exporter to the United States during the past week, surpassing Sau
Oil Refinery
11-01-2025
Oil Marketers Want FG to Privatise Kaduna, Warri Refineries
Oil marketers, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have called on the Federal Government to privatise state-owned refineries, foster competition, improve transparency and accountability.They also u
Natural Gas
03-01-2025
Fixing Iran’s Gas Shortages Needs $45 Billion, Says Oil Minister
Iran needs $45 billion in investment to resolve its chronic winter energy deficit and worsening air pollution, the country's Oil Minister Mohsen Paknejad said on Wednesday.The funds are crucial to boost gas production to meet targets set by Iran&a
Oil&Gas Drilling
03-01-2025
Noble Rig Lines up New Drilling Gig Offshore Australia
U.S. offshore drilling contractor Noble Corporation has landed a new assignment for one of its semi-submersible rigs with an undisclosed firm off the coast of Australia.While disclosing a new assignment for its Ocean Apex semi-submersible rig, Noble expla
Oil Refinery
03-01-2025
New Refineries: NNPCL May Cut Crude Supply to Dangote Plant
The Federal Government may cut its crude oil supply to the Dangote Petroleum Refinery, reducing it from the current allocation of 300,000 barrels per day, except if there is a surge in Nigeria’s oil output, The PUNCH gathered on Wednesday.This r
Crude Oil
05-01-2025
Nigerian Govt Targets 3M Bpd Oil Production by 2025 – Lokpobiri
The Federal Government has announced plans to collaborate with the Nigerian Navy to achieve its target of 3 million barrels per day, bpd, in crude oil production by 2025.Nigeria’s current output stands at approximately 1.8 million bpd, a signifi
Natural Gas
05-01-2025
Senegal, Mauritania Take Step Towards Shared Gas Production
Senegal and Mauritania said Wednesday they had moved a step closer towards producing gas after opening the first well at a field off their maritime border.The two countries share the Greater Tortue Ahmeyim (GTA) offshore natural gas field.It was jointly d
Natural Gas
05-01-2025
Prioritising Imported RLNG to Domestic Gas Harms Energy Sector
Pakistan’s energy sector is grappling with escalating financial issues, primarily driven by the forced suspension of domestic natural gas production. Currently, energy sector (power and gas) circular debt stood at over Rs 5.5 trillion despite go
Oil&Gas Drilling
04-01-2025
Greening Offshore Drilling: Rigs Powered by Alternative Fuels in Pursuit of Low-Emission Era
As the offshore energy industry continues its gradual shift to low-carbon and renewable energy sources, offshore drilling players are intensifying their efforts to slash emissions on the path to a sustainable future. While drilling rigs largely run on die
Oil&Gas Drilling
03-01-2025
Repsol Resumes Exploration Drilling in Libya After a 10-Year Hiatus
Libya’s state National Oil Corporation (NOC) reported yesterday (31 December 2024) that Spanish oil company Repsol has resumed exploration activity in the Murzuq Basin after a hiatus of more than a decade – starting in 2014.Th
Natural Gas
04-01-2025
Nortrans Offshore Wins Flotel Work on Romanian Gas Project
Singapore-based Nortrans Offshore has landed a charter deal with Italian offshore engineering and construction giant Saipem for one of its maintenance and support vessels.The 2015-built flotel Temis will work on the Neptun Deep gas development project in
Natural Gas
04-01-2025
Iran to Commission New Well at Joint Gas Field With Qatar
The first domestic well (infill) in the South Pars gas field (North Dome in Qatar), Iran's joint gas field with Qatar, will be put into operation in a month, Executive Director of Iran's Pars Oil and Gas Company Turaj Dehgani told reporter
Natural Gas
03-01-2025
Starved of Russian Gas, Industry Shuts Down in Breakaway Moldovan Region
The coat of arms of Transdniestria is depicted on a banner in central Tiraspol, in Moldova's breakaway region of Transdniestria May 5, 2022.The cut-off of Russian gas supplies to Moldova's breakaway Transdniestria region has forced the clo
Oil Price
03-01-2025
Brazil’s Petrobras Raises Jet Fuel Prices by Around 7% in Key Markets
The logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019.SAO PAULO, Brazilian state-run oil firm Petrobras (PETR4.SA),hiked jet fuel prices for distributors starting on Jan. 1 by a
Oil Pipeline
02-01-2025
Iraqi Cabinet Approves $4.6 Billion Basrah-Haditha Oil Pipeline Project
The Iraqi cabinet has given approval for a Basrah-Haditha oil pipeline project, a statement from the Prime Minister's office said on Monday.The pipeline will cost about 5.97 trillion Iraqi dinars ($4.56 billion), the statement said.Iraq's
Natural Gas
02-01-2025
Subsea7 Expands Its Scope for Giant Black Sea Gas Project With IRM Services
Subsea7 has secured a contract with Turkish Petroleum Offshore Technology Center (TP-OTC) to provide inspection, repair and maintenance (IRM) services for Türkiye’s largest natural gas field.The contract for the Sakarya gas field develo
Oil Field
02-01-2025
Brava Energia Restarts Production at Papa-Terra Field
Brava Energia, formerly 3R Petroleum before the merger with Enauta, has restarted production at Pappa-Terra field assets in the Campos Basin, offshore Brazil.During the production shutdown, significant progress was made in the maintenance and integrity re
Oil&Gas Drilling
02-01-2025
Noble Rig Scores Multi-Well Drilling Gig Offshore Suriname
U.S. offshore drilling contractor Noble Corporation has got a new drilling assignment off the coast of Suriname, which will be conducted by its 2009-built semi-submersible rig, currently stationed in Trinidad and Tobago.Thanks to a deal with Petronas Suri
Crude Oil
02-01-2025
Oil up Over Strong Economic Data From China, Weakening Us Dollar
Chinese authorities approve record fiscal stimulus package of 3 trillion yuan to boost economy, contributing to market optimism over future oil demandOil prices continued to rise on Tuesday, buoyed by strong economic data from China and a weakening US dol
Oil Exploration
02-01-2025
Fresh Oil & Gas-Condensate Discovery Comes to Light in Namibia
Portugal’s oil and gas company Galp has found more light oil and gas-condensate in the second of up to four wells within its current exploration and appraisal (E&A) program in license PEL 83 off the coast of Namibia. This has put a Saipem-ow
Oil and Gas Equipment
02-01-2025
FPSO Atlanta to Start Production off Brazil in Coming Days
Brazilian oil and gas company Brava Energia has received the authorization from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to start production from Atlanta floating, production storage, and offloading (FPSO) unit offshore Brazil.Brav
Oil Price
02-01-2025
South Africa’s Petrol, Diesel Pump Prices to Rise in January
South Africa's government said that the petrol pump price would increase by up to 19 cents a litre and the diesel price would rise by up to 10.50 cents a litre from January 1.South Africa's fuel prices are adjusted monthly due to factors including
Oil&Gas Drilling
02-01-2025
PV Drilling Eyes Southeast Asian Oil and Gas Drilling Market
Petrovietnam Drilling and Well Service Corporation (HOSE: PVD) successfully exceeded its 2024 business targets, with all financial indicators significantly surpassing projections.In 2025, PV Drilling will continue another ambitious journey to expand its o
Natural Gas
02-01-2025
Galp Finds Oil and Gas Condensate Offshore Namibia
Galp, together with its partners NAMCOR and Custos, has found more light oil and gas condensate in a well at PEL83 license offshore Namibia.The partners drilled and logged the Mopane-2A well (well #4) in PEL83, which was spudded on December 2, 2024, using
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