Wednesday, October 9, 2024

Oil Reserves News

Petrobras' focus remains Brazil despite Africa plans, director says

Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority…

Official: Argentina's energy subsidy cuts as government tackles fiscal deficit

Energy Secretary Eduardo Rodriguez Chirillo announced on Thursday that Argentina had reduced its energy subsides by $2.7 billion in the first seven month of the year, as part the…

Pampa Energia, Argentina raises over $400 mln for Vaca Muerta campaign

Pampa Energia, a natural gas producer in Argentina, announced a $410 million debt issuance on Friday. This demonstrates investor confidence as the company expands its operations in the Vaca Muerta shale in the country.

Key China Energy Indicators to Track for the Rest of 2024

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Slower consumption in China spurred the Organization of the Petroleum Exporting Countries (OPEC) to cut estimates for global oil demand growth this week, highlighting the vital…

Sources say that the incoming Mexican government wants to open Pemex up to oil partnerships.

According to four sources with knowledge of the situation, the incoming Mexican government will encourage the state oil company Pemex, to form equity partnerships with private oil firms…

Japan to Promote Gas, LNG, Hydrogen During G7 Presidency

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Japan will stress the importance of investment in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during its presidency of the G7 this year…

Asian Countries Looking to Release Oil Reserves after U.S. Request

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The world's biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated…

China's Sinopec Finds Shale Oil at Shengli Field

A unit of state-run oil Chinese and gas major Sinopec Corp has found an initial 458 million tonnes (3.34 billion barrels) of geological shale oil reserves at its Shengli field, the official Xinhua news agency reported on

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

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China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply…

Angola Says Producer Cuts Insufficient, More Action Needed

(File photo: Total)

Angola sees an oil production curb by OPEC, its allies and other top producers as insufficient to balance global markets, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Fr

Update: Brent Oil Rises above $32 on Hopes of Output Deal

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT.

Russia Leads E&P Race in Arctic Region

Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of…

CNPC Finds Reserves From Pre-salt Field at Tarim

China National Petroleum Corp (CNPC) said it has found oil and gas reserves from a pre-salt area, where the resources are trapped under a layer of salt, for the first time in the country.Daily oil production from the are

Exxon to Load First Crude from Guyana This Weekend

The Liza Phase 1 development project utilizes the Liza Destiny floating, production, storage and offloading (FPSO) vessel moored approximately 120 miles offshore Guyana, with four undersea drill centers supporting 17 wells. (Photo: Hess Corp)

The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil's refining system, the company told Reuters…

Iran Finds New 53 Bln Barrel Oilfield

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Iran has discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said on Sunday."Workers…

Saudi Aramco Targets Zero Flaring

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Saudi Aramco said on Wednesday it was joining the World Bank's initiative to reduce gas flaring to zero by 2030 and said its flaring was already less than 1% of its total raw gas production in the first half of 2019.Aram

Kosmos Strikes Oil Off Equatorial Guinea

American upstream oil company founded and based in Dallas Kosmos Energy made an offshore oil discovery in Equatorial Guinea, Reuters reported quoting the Ministry of Mines and Hydrocarbons.The…

India Hopes Saudis Will Help Build Oil Stores

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India hopes to sign a pact with Saudi Arabia for participation in Delhi's strategic petroleum reserves (SPRs) during Prime Minister Narendra Modi's visit to the kingdom next week…

Dana Gas Finds New Oil in Kurdistan

Sharjah-based gas giant Dana Gas has announced that its share of the proved plus probable (2P) hydrocarbon reserves at Pearl Petroleum Company’s Khor Mor and Chemchemal Fields in…

Block Energy Acquires West Rustavi Asset

The oil and gas company in Georgia,  Block Energy said its working interest in the West Rustavi licence, in Georgia, has increased to 100%.The increase, from 71.5% and originally from 25%…