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European companies, Siemens AG and ABB Group, are collaborating with exploration and production firms (E&Ps) to develop unmanned and automated submerged oil platforms.According to Siemens, these new platforms are self-sufficient and better than traditional oil and gas extraction factories,...
A team of researchers in the US has developed a new method to lower the sulfur content of fossil fuels, specifically diesel fuel.Fuels that are rich in sulfur produce sulfur dioxide that, when combusted, will react with water...
Executives at Total S.A. announced that the company has already started oil production at its deep offshore project on the Moho Nord Field in Congo.Operated at a rich reserve, the rig has a production capacity of around 100,000...
According to the West Texas Intermediate (WTI) statistics for April, crude oil prices fell by 1.6% and closed at $48.49 per barrel on the 10th of March this year, falling below the 200-day moving average.Basically, such prices fell by...
As part of a measure to help stop unrest in the Niger Delta, the Nigerian government called for major oil firms in the country to move their main offices to the oil-rich area.Since the 1990s, rebels have been...
In an effort to make its operations green, the largest oil refinery in Hawaii is considering the use of biofuel as a replacement for oil.According to Eric Wright, senior vice-president of Par Hawaii Inc. (the company who owns the...
Olaf Carrera, the director of British Petroleum (BP), has confirmed that his company will enter the gas station market in Mexico.Founded in 1909, this UK-based company has a value of $99 billion. Now, it is planning to penetrate a...
Oranto Petroleum, a Nigerian oil firm, has entered an agreement with the government of South Sudan to develop its Block B3 oil exploration block.Basically, it is an exploration and production sharing agreement (EPSA) where Oranto is set to invest...
Last month, the Iranian Oil Ministry signed an agreement with the Iraqi Oil Ministry to settle disputes over joint oil fields and to examine the feasibility of creating an oil pipeline from Iraq’s Kirkuk fields through Iran.The agreement was...
The world’s largest oil producers are gathering in Houston, Texas for the biggest industry meeting since the two-year price war between exporters in the Middle East and companies that drove the shale energy revolution in the US.Among the main...

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