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Oil & Gas
Oil Price
Oil Prices Post 3% Annual Decline
Natural Gas
13-12-2024
ExxonMobil to Drill Offshore in Egypt’s Western Mediterranean
ExxonMobil will begin drilling a new offshore gas exploration well in the North Marakia Offshore Concession, Western Mediterranean this month.During a meeting in London between Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi an
Natural Gas
13-12-2024
Shell to Explore for Oil and Gas in the Black Sea
Shell Exploration and Production (96) B.V, a subsidiary of Shell, will explore for oil and natural gas in Block 1-26 Khan Tervel, located in Bulgaria's exclusive economic zone in the Black Sea, announced Bulgaria's caretaker Minister of En
Oil Exploration
13-12-2024
ORLEN Ramps up Its Exploration Activity on the Norwegian Continental Shelf
A total of 6 exploration and appraisal wells were completed by ORLEN Upstream Norway in 2024, 4 more than the previous year. As a result, the company discovered or confirmed oil, gas and condensate reserves estimated at 66-129 million boe, including 11.0-
Natural Gas
13-12-2024
POGC Completes South Pars Overhaul Campaign Offshore Iran
Pars Oil and Gas Co. (POGC) has completed overhauls of the gas platforms at the South Pars field in the Persian Gulf.Ali-Mohammad Tahan, head of HSE at the company’s Operations and Support Division, told news service Shana the program was design
Crude Oil
13-12-2024
Oil Production Hits 1.7mbpd – FG
The Federal Government has declared that Nigeria’s oil production, including condensates, increased by 9.9 per cent to 1.69 million barrels per day in November 2024, up from 1.538mbpd recorded in October 2024.According to the latest data release
Crude Oil
13-12-2024
OPEC Says Russia Made Small Cut to Oil Output in November
Russia's crude oil output in November edged down by 7,000 barrels per day (bpd) to about 8.99 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, citing data from secondary sources such as consultancies.Thi
Crude Oil
13-12-2024
OPEC Daily Crude Output up 0.5% in Nov.
Crude oil production from the Organization of Petroleum Exporting Countries (OPEC) increased by 0.5%, or by 104,000 barrels per day (bpd), in November to average 26.66 million bpd, according to OPEC's monthly oil market report released on Wednesda
Natural Gas
13-12-2024
Azerbaijan Unveils Latest Data on Its Oil, Gas Output, and Export Volumes for Current Year
Oil-condensate production in Azerbaijan was 26.5 million tons, and the exports were 22.2 million tons, while the gas production and exports amounted to 45.8 bcm (bcm) and 22.9 bcm, respectively, in 11 months of this year.Data obtained by Trend from the Mi
Natural Gas
13-12-2024
OGDCL-Led Consortium Wins Bid for 49% Stake in Miran Block
Oil and Gas Development Company Limited (OGDCL), along with its consortium partners Pakistan Petroleum Limited (PPL) and Government Holdings (Private) Limited (GHPL), has successfully secured a 49% working interest in the Miran Block.The E&P giant sha
Oil Field
13-12-2024
Equinor Exits Nigeria, Completes $1.2bn Asset Sale to Chappal Energies
Equinor (EQNR.OL) has officially announced its exit from Nigeria after three decades of operations, concluding the sale of its assets to Chappal Energies for $1.2 billion. The transaction includes a 20.21 per cent stake in the Agbami oil field, operated b
Crude Oil
13-12-2024
Indonesia’s Pertamina Has Signed Oil Block Contract -Regulator
Indonesian state energy firm PT Pertamina has signed a production sharing contract with the government for the country's second-largest crude producing field, said the head of the nation's upstream oil and gas regulator.Indonesia announced
Oil&Gas Drilling
12-12-2024
Bauchi Restates Support for Oil Exploration
The Bauchi State Government has reaffirmed its commitment to supporting the actualisation of crude oil exploration at the Kolmani Oil Field, pledging to provide the necessary support for the project’s success.Deputy Governor of Bauchi State, Auw
Natural Gas
12-12-2024
Partners in Norwegian Sea Gas Discovery Mulling Over Tie-Back to Existing Infrastructure
Harbour Energy, former Wintershall Dea, has undertaken appraisal activities with one of Transocean’s rigs at a gas discovery in the Norwegian Sea, 270 kilometers north of Kristiansund, off the coast of Norway.According to the Norwegian Offshore
Oil Price
12-12-2024
US Agency Expects Oil Production to Grow in 2025 Despite Opec+ Decision
The US Energy Information Administration (EIA) expects global oil production to increase next year, with the bulk coming from countries outside the Opec+ group.Last week, Opec+ announced it would delay oil production increases by three months until April
Oil Field
12-12-2024
North Sea Harald East Well Starts Production
TotalEnergies has brought onstream the Harald East Middle Jurassic well in the Danish North Sea.TotalEnergies has brought onstream the Harald East Middle Jurassic well in the Danish North Sea.According to partner Blue Nord, this should extend plateau prod
Natural Gas
12-12-2024
Oil Ministry to Sign Gas Output Expansion Contracts by Year-End
Speaking on the sidelines of the Gas Exporting Countries Forum (GECF) Ministerial Meeting, Paknejad told reporters that the agreements will significantly boost gas production capacity once implemented.Some contracts will be executed before the end of this
Natural Gas
12-12-2024
US Natgas Output to Decline as Demand Hits Record High in 2024, EIA Says
U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.The EIA projected that dry gas production will ease from a r
Natural Gas
12-12-2024
TotalEnergies Completes Acquisition of SapuraOMV Upstream Assets in Malaysia
TotalEnergies has completed the acquisition of the interests of OMV and Sapura Upstream Assets in SapuraOMV Upstream, an independent gas producer based in Malaysia, Trend reports.The deal, which involves a 50% interest from both OMV and Sapura Upstream As
Crude Oil
12-12-2024
Argentina Hydrocarbon Production Nears Record Highs
Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields.Crude oil and natural gas prod
Oil Price
10-12-2024
Saudi Arabia Cuts Oil Prices
Saudi Arabia is cutting oil prices for buyers in Asia by more than expected after OPEC+ further delayed an output revival, underscoring how the outlook for the market remains weak.SState oil producer Saudi Aramco will sell its main Arab Light crude grade
Natural Gas
10-12-2024
Gas Prices Rise for Eighth Week Straight
The prices of gas and diesel at Korean gas stations rose for the eighth consecutive week, the Korea National Oil Corporation said Saturday.The average gasoline price reached 1,641.9 won ($1.16) between Dec. 1 to 5, an increase of 3.6 won from the previous
Oil&Gas Drilling
10-12-2024
48 Billion Boe Potential: Indonesia Offers Six More Blocks
Indonesia’s Ministry of Energy & Mineral Resources (ESDM) has unveiled the country’s second acreage offering of 2024.Six blocks are on the table with combined potential of 48 billion barrels of oil equivalent, bringing to 11 the nu
Oil Exploration
10-12-2024
Bangladesh Gears up to Restart Offshore Oil, Gas Exploration With Fresh Bidding Process
The last time gas was discorvered in the sea was 11 years ago and the only things that have happened since are discussions and speculations.However, momentum is now building to resume exploration efforts, raising the question of whether this new initiativ
Oil & Gas Technology
10-12-2024
Iran Offers Cooperation With Gas Exporting Countries in Oil and Gas Technologies
Azim Kalantari-Asl, speaking during a visit by GECF ministerial delegates to the research facility, outlined key areas for collaboration, including gas reservoir exploration, enhanced recovery technologies, gas storage systems, and CO? capture and utiliza
Oil&Gas Drilling
10-12-2024
Drillship for East Sea Gas Exploration Project Arrives in Busan
A drillship tasked with initiating the drilling operation for a major gas and oil exploration project in the East Sea arrived Monday at an offshore anchorage near the southeastern port city of Busan, the industry ministry said.The arrival comes amid growi
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