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Latest News & Updates

World Oil

Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPEC nation.
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Reactive Downhole Tools, independent supplier of well completion solutions to the global oil and gas industry, has announced Niall Urquhart as V.P. Eastern Hemisphere, to support its growth plans for the regions.
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The Abu Dhabi National Oil Company (ADNOC) signed an agreement, awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s INPEX Corporation.
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U.S. officials said the global oil market can withstand the removal of all Iranian crude exports this year, a conclusion that could be pivotal in the coming weeks as President Donald Trump weighs whether to end sanctions waivers granted to several nations.
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Meet the exclusive group of oil producers that nobody wants to join.
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OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said.
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Uncertainty over U.S. waivers for buyers of Iranian oil is starting to grip the market again, under very different circumstances than when American sanctions were set to go into effect last year.
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Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years.
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Petrofac has been awarded a contract worth around US$1 billion with Groupment Isarene, the joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria.
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Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km north of the Sinai peninsula.
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