With Venezuela introducing sweeping reforms to its hydrocarbons sector and renewed international interest gathering pace, the Venezuela Energy Week London Industry Showcase will bring together policymakers, investors and industry leaders on July 30 to examine how the country’s evolving investment landscape is reshaping opportunities across the oil and gas value chain.
The Centre is drawing up an incentive package worth Rs 80,000 crore to boost domestic oil and gas production in India. The government could cover up to 50% of the drilling costs of deep water exploratory wells. The plan aims to attract foreign investment, accelerate offshore oil and gas exploration, and strengthen energy security.
The Government has granted the first new offshore petroleum exploration permit since it tore up the 2018 ban, handing an Australian company a 12 year search over a block of seabed off Taranaki.
Eni and TotalEnergies have reached a final investment decision (FID) to develop the Cronos gas field offshore Cyprus, advancing the country’s first natural gas project and establishing a new LNG export route from the Eastern Mediterranean to European markets.
Libya’s National Oil Corporation (NOC) and Shell are developing a comprehensive strategy to improve the country’s gas sector and unlock greater value from its natural gas resources.
India has started drilling the first appraisal well in the Mahanadi Offshore Basin — a move that will expand the country’s upstream push in the deep-water segment and potentially unlock new oil and gas reserves, according to a petroleum ministry statement July 25.
State owned Kuwait Petroleum Corporation (KPC) has signed a $16 billion lease-and-lease-back agreement for its oil pipeline network aimed at raising capital for its long-term oil production growth ambitions.
Lebanon has proposed serving as a Mediterranean transit corridor for Iraqi crude oil as both countries explore alternative export routes to reduce Iraq’s dependence on the Strait of Hormuz following disruptions caused by regional conflict
The main terminal for exporting Kazakhstan’s oil resumed loadings after drone attacks on vessels caused an output cut last week, a step that may help to ease one of the market’s major supply worries.
The Pennsylvania Department of Environmental Protection will be developing rules that it says will reduce methane emissions from new and existing oil and gas operations .