Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.
Recent IHS Markit report says a significant rebound in discoveries may not happen because since 2014 there has been an increased emphasis on exploring less risky maturing basins and short cycle-time unconventional projects.
Oil and gas producer Canadian Natural Resources Ltd. said on Friday it would temporarily shut-in about 65,000 barrels per day (bbl/d) of crude oil production due to forest fires in Alberta.
Geologist provides food for thought as companies target the Guyana-Suriname Basin following the Exxon Mobil-led winning streak.
Uganda launched its first oil block auction in 2015, covering six exploration areas measuring 2,674 sq km.
China National Oil and Gas Exploration and Development Co. (CNODC) has signed a binding agreement with Russia’s Novatek to buy a 10% stake in the Arctic LNG 2 project, Novatek said on April 25.
State-run Israel Electric Corp. (IEC) has chosen the Leviathan gas field off Israel's Mediterranean coast for a short-term natural gas supply deal, saying it would lower its costs by up to $175 million.
The first circulated draft of the much anticipated hydrocarbon law in Algeria, has shown that the government has loosen up the law in a move that aims to attract more foreign investors to the energy sector in Algeria. The question is, will it be passed amid contentious political transition?