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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,...
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...
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...
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...
Malaysian Prime Minister Datuk Seri Najib Tun Razak has announced that Saudi Arabian Oil Company (Saudi Aramco) is going to invest 7 billion dollars in an oil refinery and petrochemical project in Johor.According to Najib, the investment deal was...
According to the American Petroleum Institute (API), there have been declines in the US oil inventory, particularly in the crude oil and gasoline supplies.The API reported that there was an 884,000-barrel decline in the country’s crude supplies, while...
As Uganda starts producing ethanol, its government revealed that it will enact a law that will allow the blending of such type of alcohol and petrol, hoping that it will save the country millions of dollars in foreign exchange.According...

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