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As recently announced by Prince Mohammad bin Salman Al Saud, Saudi Arabia’s government is going to control the country’s major crude oil reserves, as well as any move to produce from them. This decision came after the initial public...
With the use of seismic imaging, BP PLC has identified more than 200 million barrels (MMbbl) of additional oil resources at its Atlantis Oil Field in the Gulf of Mexico.Seismic imaging enables the oil giant to enhance the...
The French energy company, Total SA, has announced that it will develop a new shale gas field in Argentina, which will cost up to $500 million.Total has given the go-ahead to develop the first phase of its Aguada Pichana...
Through its subsidiary Winslow Resources, Return Energy Inc. acquired certain partner interests in the core gas production area of Rycroft, Alberta for a cash consideration worth $750,000.The terms of the acquisition include production of around 60 barrels of oil...
BP PLC has chosen the multinational engineering and construction firm Fluor Corporation to perform the front-end engineering and design (FEED) for its gas compression project at the Cassia Platform in Trinidad and Tobago.Under the agreement of the two companies,...
The Australian Competition & Consumer Commission (ACCC) recently announced that the export of liquefied natural gas from the country’s domestic market must be reviewed amidst the oil crisis due to high wholesale prices.The proposal was brought up by the...
The government-run Abu Dhabi National Energy Company, commonly known as Taqa, is planning to sell some of its higher-cost oil wells in North America after reporting a record loss of $5.2 billion in 2016.Owning around 6% of the crude...
Learning from previous lack of success, oil rig operators these days are embracing the great things the digital world is offering to boost production and efficiency.Over the years, the crude oil market has experienced the worst crashes. With...
Blackstone Group LP is going to buy out the pipeline company, EagleClaw Midstream Ventures, for $2 billion, marking the latest deal to be made in the oil-rich Permian Basin of North America.Under the agreement, ownership of more than 603...
Gazprom Neft, one of the largest oil producers in Russia, announced that it has finished drilling its first oil production well in the NP-8 stratum on the Novoportovskoye field, and will start developing it.Basically, the NP-8 stratum is...

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