OPEC Oil Producer Group Membership Timeline
Sources told Reuters on Thursday that Iraq had considered leaving the Organization of Petroleum Exporting Countries (OPEC) if it's?oil output quota was not increased. This comes…
Trump calls the UK's next expected PM 'extremely Liberal'
U.S. president Donald Trump said that he knew 'little' about Andy Burnham who is expected to be the next British prime minister. He described him as "mayor of "a town", "extremely…
BP signs a concession agreement with ADNOC and partners for Bab Gas Cap Project
BP announced on Thursday that it had'signed a concession -agreement' with ADNOC and partners for the development of the Bab Gas Cap Project in the UAE. BP will take a 10% share…
Vaar Energi to invest $1.4 billion in 3 oil and gas discoveries offshore Norway
Vaar Energi, together with its partners, will invest approximately 14?billion crowns (1.42 billion dollars) in order to develop three oil & gas discoveries offshore Norway.
Chile's Codelco will consider asset sales and partnerships as part of its investment review
Codelco is a state-owned company in Chile and one of the world's biggest copper producers. As part of an overall review of investment priorities, Codelco's Chairman Bernardo…
Executive says TotalEnergies will begin drilling in Suriname in the next year
The vice president of exploration for the Americas at TotalEnergies, a French energy producer, said that the company expects to start a new drilling campaign in Suriname next…
The Russian parliament has approved tax changes to combat fuel shortages
The Russian parliament approved on Wednesday amendments to its Tax Code to?address?growing fuel shortages caused by Ukrainian drone attacks against oil refineries. Subsidies on fuel imports are also offered…
Pharos Energy to be acquired by Ratio Petroleum, based in Israel
Ratio Petroleum Energy agreed to purchase Pharos Energy for a total of PS124.3million ($164 million) in an all cash deal. This gives the Israel-based company access to production assets located in Egypt and Vietnam.
Strikes are increasing in Australia's major export sectors
Labor unrest is rife in Australia's resource sector. The lucrative iron ores mines and ports are facing increased strike risks. This comes on top of high costs and bureaucracy that…
Petronas finds new gas in Suriname offshore block. Discoveries equivalent to 1 billion barrels
The president of Suriname Jennifer Simons announced on Tuesday that Malaysia's state energy company Petronas has made another gas find at the offshore 'Block' 52 in Suriname.
Alo Yoga is ready for sale or public offering after the owner sold his wholesale T-shirt business
Last month, in a deal that drew little interest from Wall Street's investors, the owner Alo of popular yoga apparel maker Alo agreed to sell Bella+Canvas wholesale T-shirt division.
Congo looks to coops and credit scheme to finance mine workers' equity stakes
A draft decree, seen on Tuesday by, showed that the Democratic Republic of Congo is considering a scheme to?help mining workers acquire mandatory stakes within the companies…
Norway's gas production lags behind the forecast for May
Norwegian Offshore Directorate (NOD), on Tuesday, reported that Norway's combined oil and gas production in May exceeded an official forecast by?2.9%. Norway is Europe's biggest supplier of natural gases and oil.
US plans to reduce costs for energy drilling on federal land
On Monday, the Trump administration proposed looser regulations?for oil-and-gas drilling operations on federal lands. This included a drastic cut in?cleanup costs for abandoned wells.
Azule Energy approves $5.1 billion offshore Angola project
Azule Energy - a 'joint venture' between BP, Eni and?Their partners - has approved the $5.1 Billion Greater PAJ offshore oil projects in Angola. This was announced by company…
Norway Oil Service Firms Threaten Lockout to End Strike
Offshore Norway announced on Monday that it would lock out the Safe Labour?union?oil service employees?from 27th June?in response to a strike going on over wages. In a press release…
Repsol, the Spanish energy company, is expanding into a new oilfield in Venezuela
Repsol wants to expand its portfolio in Venezuela, adding the Horcon oilfield, said the 'Spanish' energy producer on Thursday. This comes after signing agreements with Venezuelan government earlier this week.
Red Sea Global wants to 'bring back to life' a troubled Saudi island of luxury.
The CEO of Red Sea 'Global, a state-backed Saudi developer, confirmed to the media for the first time that the company will be taking over the Sindalah Island resort. This is…
Baker Hughes says US energy companies have added rigs eight times in nine weeks.
Baker Hughes, a widely followed energy services company, said Thursday that U.S. firms added rigs this week for the eighth time in nine weeks. The oil and gas rig count rose to 563…
State regulator: North Dakota oil production expected to remain steady, despite the price decline
North Dakota's regulator stated that energy companies will likely keep crude production steady in North Dakota this year, the state with the third largest oil production in the United States…
