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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...
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...
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...
Lundin Norway AS, a subsidiary of Lundin Petroleum AB, announced that it has completed an appraisal well on the Edvard Grieg Oil Field in the North Sea.Specifically, the company has finished building its Southwest 16/1-27 appraisal well that is...
New oil wells are set to be constructed in Fort Collins, Larimer County, Colorado, as the state is recently approving an increasing number of permits for oil and gas exploration.According to the Colorado Oil and Gas Conservation Commission (COGCC),...

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