Norway on Tuesday offered 57 new production licenses to 19 companies in the annual licensing round for acreage in the best-explored areas on the Norwegian continental shelf, as Western Europe’s biggest oil and gas producer looks to maintain the current high level of output for years to come.
Oil prices pushed higher on Tuesday afternoon, with traders weighing a familiar but combustible mix of Middle East risk and Washington-driven policy uncertainty.
Vitol and Trafigura are offering Venezuelan crude to refiners in China and India for March delivery, trade sources told Reuters on Monday, days after two of the world’s biggest independent oil traders obtained special U.S. licenses to help market Venezuela’s oil.
NMDC Group subsidiary NMDC Infra and Consolidated Contractors Company (CCC) have established NMDCCC to provide oil and gas EPC services in the UAE, NMDC announced on Tuesday.
TotalEnergies and partners Eni and QatarEnergy have signed an agreement with the Lebanese government to explore a new block offshore Lebanon, the French company said on Friday.
Indonesia has inaugurated the upgraded Balikpapan refinery, expanding capacity from 260,000 bpd to 360,000 bpd and marking the country’s largest refining facility, international media reported on Monday.
Shell has awarded Vallourec a major contract to supply OCTG products and services for Brazil’s Orca offshore development, Vallourec said on Monday.
Navitas Petroleum has signed a non-binding memorandum of agreement to farm in to the PL001 licence in the North Falklands basin, a block located adjacent to the Sea Lion development.
The proposed transaction was signed with JHI Associates, which holds the licence and in which Eco Atlantic Oil & Gas has a 6.6% interest. Under the terms of the agreement, Navitas would acquire a 65% working interest in PL001, expanding its footprint in the South Atlantic basin.
Petroliam Nasional Bhd. has filed a motion with Malaysia’s apex court to determine its right to operate in the nation’s largest state, Sarawak, threatening to extend a dispute over gas assets that has dragged on for over a year.
Egypt has announced discoveries at four exploration wells in the Western Desert as the North African country looks to boost oil and gas production and cut dependence on imports.