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Faroe Petroleum Begins Drilling at Brasse Exploration Well, Norwegian North Sea
June 17, 2016
Faroe Petroleum has commenced drilling of the Faroe-operated Brasse exploration well 31/7-1 in the Norwegian North Sea (Faroe 50 percent). The Brasse prospect is located immediately south of the producing Brage oil field (Faroe 14.3 percent) and, if successful, could
Kuwait Petroleum to Invest $115 Billion on New Oil Projects
June 17, 2016
Kuwait, a member of oil cartel OPEC, is planning to spend KWD34.5bn ($115 billion) on oil projects over the next five years, according to a senior executive in the country. The move comes despite a prolonged slump in crude oil
BP Signs $1.3 Billion Deal with Det norske to Merge Norwegian Oil and Gas Businesses
June 15, 2016
Norwegian firm Det norske oljeselskap (Det norske) has signed a $1.3bn agreement with BP to merge with BP Norge in a bid to create the largest Norwegian independent oil and gas producer. Det norske expects the merger deal to significantly
Hatch Positions for Growth in Oil and Gas Sector in Australia-Asia Region
June 14, 2016
Hatch is further strengthening its services and capabilities in the oil and gas sector to pursue new opportunities for growth in the Australia–Asia region. Hatch recently appointed Lisa France, a former Queensland assistant minister for natural resources and mines, to
IFC Invests $5 Billion in Carbon Holdings’ Tahrir Petrochemicals Project, Egypt
June 10, 2016
International Finance Corporation (IFC), a member of the World Bank Group, has announced plans to invest $25m in Egyptian petrochemical producer Carbon Holdings to fund the development of the proposed Tahrir petrochemicals project. The petrochemical plant, which is estimated to
Equatorial Guinea Launches Oil and Gas Licensing Round
June 10, 2016
Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE) launched the country’s latest oil and gas blocks licensing round, EG Ronda 2016, at the Africa Oil & Power conference. Companies are now able to submit letters of interest to the
Bankers Petroleum Temporarily Curtails Production Due to Interruption at Port, Albania
June 9, 2016
Bankers Petroleum Ltd. has experienced a temporary production impact from a business interruption at the Petrolifera Italo Albanese (PIA) Terminal port facility near Vlore, Albania, due to a crude oil leak that occurred when the terminal operator was loading a
Weatherford Selected for Inclusion in Euronext Vigeo Indices
June 9, 2016
Weatherford International plc has been selected for inclusion in the Euronext Vigeo World 120 index, which is comprised of the 120 most advanced companies in the European, North American and Asia Pacific Regions. The company also maintained its inclusion in
Russia’s Rosneft Signs Agreement with Pertamina to Build Oil Refinery in Indonesia
June 8, 2016
Russia’s oil major Rosneft has entered into an agreement with Pertamina to construct a new oil refinery in Indonesia. The refinery project will come up at Tuban, East Java and the companies target to complete the construction of the project
Graphene Nanochem Secures Order for Its PlatSurF Oilfield Recovery Additive, Myanmar
June 8, 2016
Graphene NanoChem has received a firm order for PlatSurF, its oilfield recovery additive, for a 16 - 18 wells drilling program in Myanmar. It is the company’s first contract in Myanmar with the initial four well order worth just under
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