The find, with a potential 70% recovery rate, could add 198 bcm (7 tcf) to Iran’s producible reserves and help offset domestic gas imbalances during high-demand months.
Reconnaissance Energy Africa Ltd. (ReconAfrica) reports that drilling operations are progressing on schedule at the Kavango West 1X exploration well in Namibia’s Damara Fold Belt. The company has set its final casing string at a depth of approximately 2,300 m, just above the targeted Otavi carbonate reservoir, and is now drilling ahead into the primary objective.
Saudi Arabia left the official selling price of its crude oil selling in Asia in November unchanged from the October prices as OPEC+ continues to lift production amid a market concerned about an imminent oversupply.
Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buyer of Russia’s oil, behind only China.
Iran claims a new natural gas discovery would add an estimated 10 trillion cubic feet to its gas reserves and could help offset an expected energy imbalance.
Europa Oil & Gas (Holdings) PLC has received a 12-month extension to the initial two-year term of the EG-08 exploration block from Equatorial Guinea’s hydrocarbons and mining development minister.
North America’s total rig count remained unchanged week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on October 3.
Shippers were notified to have vessels ready as soon as early October to early November, according to the people, who asked not to be identified because the information is not public.
Baker Hughes will pay USD 210 in cash per share of Chart common stock, as per the agreement entered into by the companies in July 2025. The transaction is expected to close in mid-2026, subject to regulatory approval.
Zephyr Energy plc announced the results of an updated Competent Person’s Report (CPR) for its Paradox basin assets in Utah, revealing a major upgrade in reserves and resource estimates for the company’s flagship Paradox project. The report, compiled by Sproule-ERCE International Ltd., shows significant progress as the development advances toward full commercial production.