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updated Thu. April 5, 2018

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Bahrain announced on Sunday the discovery of a large supply of light rock oil estimated to be much larger than the Bahrain field in addition to the discovery of large quantities of deep gas. OIC, GCC and Saudi Eneergy Ministry strongly condemn Iranian attacks on Bahrain oil pipeline. DUBAI: Bahrain ...
The Persian Gulf island nation of Bahrain says it has discovered its largest oil field since the country's first oil well began operation nearly 90 years ago. The government said Sunday that the new resource is "understood to dwarf Bahrain's current reserves." Details about the initial findings of size and ...

Odessa College in Texas is moving its truck driving program back in house after years of having a separate company train big rig operators. The demand for drivers is strong with the addition of sand mining and the continued growth in oilfield activity. Louis Gonzales, continuing education associate dean at ...
Higher oilfield services prices began pressuring producers' margins soon after the industry officially swung into recovery and growth mode. It was only to be expected because the services sector suffered a harder blow from the oil price collapse, with providers forced to offer huge discounts to drillers in ...
Papua New Guinea company takes over large Alaska oil field ... Alaska (AP) — A company based in Papua New Guinea has grabbed attention for its interest in what at least one Alaska official has called the state's third-largest oil field. ... Oil Search operates all the producing oil fields in Papua New Guinea.
Capital expenditure on upcoming oil and gas fields worldwide will amount to US$811 billion on 615 projects planned between 2018 and 2025, data and analytics company GlobalData says. In upcoming oil fields, over the next eight years, capex in conventional oil projects will be US$352 billion, spending ...

Zion Market Research has published a new report titled “Oilfield Services Market (Pressure Pumping Services, Oil Country Tubular Goods, Wireline Services, Well Completion Equipment & Services, Well Intervention Services, Drilling & Completion Fluid Services, and Coiled Tubing Services) for Offshore ...
s (NYSE: CVX) Venezuela oil fields continue to operate normally, a senior executive at the U.S. company said March 26, even as concerns mount about the OPEC member's production due to a host of challenges. Chevron operates in Venezuela, home to the world's largest oil reserves, as part of its 30% ...
Per the latest divestment deal, the Anglo-Dutch supermajor will vend 19.6% interest in the West Qurna 1 oil field to Japan's Itochu Corporation. According to the agreement, Itochu will assume a debt of $144 million. The deal has already received necessary regulatory approvals and is scheduled for ...
Replacing parts of an outdated Baker Hughes turbine at a petrochemical plant in Johor Bahru, Malaysia, is about as fun as it sounds. The chore was supposed to halt operations at the facility for at least 10 days and cost $50,000 to fly a specialized U.S. work crew about 9,000 miles. Instead, Bloomberg.com ...
The Iraqi oil ministry is set to award two management contracts to replace Shell at the Majnoon oil field, senior industry officials told S&P Global Platts. ... Anton Oil is a Chinese company with contract activity in Iraq's Halfaya, Buzurgan and Ahdab oil fields, as well as a drilling partnership with the state-run ...
i3 Energy Plc (LON:I3E) told investors that it continues to see progress with its partnering efforts, with talks ongoing with multiple potential joint venture partners. In late 2017, the junior North Sea oiler kicked off the process for a potential farm-out, that could deliver funding to develop the Liberator field.
Digital transformation in the oilfield will be price inelastic – It is Here to Stay! ARC's discussions with many oil & gas players indicated that as long as oil prices were trading above $50 per barrel, many onshore unconventional and conventional wells, and even some shallow water offshore ones, could ...
THE HAGUE -- Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of ITOCHU Corporation. The purchaser will also assume debt of $144 million as part of the ...
Now, an unprecedented study reveals Wink and its vast sinkholes are just a tiny part of a much bigger problem – a vast stretch of historical oil fields that are heaving and sinking, covering an area almost the size of Connecticut. "The ground movement we're seeing is not normal," explains geophysicist ...
A new U.S. military base has been built at the al-Omar oilfield in southeastern Deir Ezzor in Syria to support combat against the Syrian military, according to a new report by Fars News. Russian forces have recently warned of a possible attack by U.S. forces on fortified Syrian bases. The U.S. military has ...
Despite the political tension between the UAE and Qatar, the two Arabian Gulf states signed an agreement to renew the concession for the continued development and operation of El-Bunduq offshore oil field. El-Bunduq field is located about 200 km northwest from Abu Dhabi, UAE, and about 100 km east ...

(Reuters) - A little-known shale oil play in Oklahoma is attracting more drilling and investment as rising output from newer wells is enticing companies to boost production beyond the giant Permian basin in Texas. The Meramec formation is a part of what is called the STACK region - Sooner Trend Anadarko ...
ENERGY Secretary Alfonso G. Cusi said the Alegria Oil Field in Southern Cebu has the potential to power up a 60-megawatt (MW) gas plant. “An initial study shows it can support a 60-MW plant. They are working on it, preparing. This will help the power supply in the Visayas, especially Cebu,” Cusi said.
Good morning and welcome to the Liberty Oilfield Services 2017 Fourth Quarter and Full Year Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.
Pictured are: Shawn Hailey, president/co-owner; Shawn Beard, co-owner; Matthew Varner, vice president; Will Kinnaird, controller; and Patrick Brown, chief executive office. 2018 Texas Oil & Gas Awards winners. Trucking Company of the Year: Hearn Trucking. Award for Drilling Excellence: Scientific ...
The Kashagan oilfield, which was discovered in 2000, had commenced production in September 2013. Through the ongoing phase I development, also called as the Experimental Program, the consortium partners aim to boost oil production at the Kashagan field to 370,000 barrels per day. In addition to ...
British Petroleum has begun to sell off its mature oil fields in Egypt to shift its focus to developing the country's large natural gas reserves, according to a new report by Bloomberg. The Gulf of Suez assets have been available to purchase for a few months, it has now been disclosed, and British Petroleum is ...
HOUSTON (Bloomberg) -- Bob Dudley, in his 38 years in the oil industry, has never seen anything like what happened with BP Plc's old fields last year: They gushed more crude. “I cannot remember ever in my career having seen a negative decline rate,” the British oil-giant's chief executive officer said in an ...
PARIS, March 2 (KUNA) -- France's oil giant Total said Friday it had taken a 16.33 percent stake in the Waha oil concession in Libya, a move that will give it access to potential reserves of 500 million barrels of oil equivalent. A statement from Total said that immediate production from its share of the Waha ...
An increased number of Ecuador's oil and gas fields will go up for auction in March, according to Oil Minister Carlos Perez, who added that mature crude fields and an offshore gas field were slated to be in the mix. Latin American countries with largely maturing oil and gas fields are trying to make ...
The Lower Zakum oil field was discovered in 1963 roughly 80 km (50 mi) northwest of Abu Dhabi City, and began production in 1967. It is the largest oil field in the current ADMA offshore concession, with targeted production of around 450,000 b/d. Additionally, INPEX has negotiated a 25-year extension of ...
Hidden pitfalls could impair America's hottest oilfield. By Kevin Crowley and Ryan Collins on 2/27/2018. HOUSTON (Bloomberg) -- The world's hottest oil field, the Permian basin of West Texas and New Mexico, isn't without its risks. Drillers are pumping billions of dollars into the region, plumbing reserves that rival Saudi ...
When his friends in the energy industry would come back to Houston after trips to the oil fields, he was always surprised by what he heard. ... in 2011 to address both, using modular, off-site prefabrication to build housing units and bring big city flavors to disrupt the world of oil field workforce housing.
CAIRO (Bloomberg) -- Libya's oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months, putting the OPEC nation's crude production at risk of a decline again. Crude loadings at Mellitah, the export terminal for El-Feel, ...
Iran and Russia signed a deal on March 14 to develop two oil fields in Iran, according to Iranian state TV. The National Iranian Oil Co. signed a deal with Russia's Zarubezhneft to develop the fields, according to SHANA, the news site of the Iranian oil ministry. “This is a very important point. This is the first ...
If a sparrow sings his heart out on an oil field, but his would-be sweetheart can't hear him above the oil pumps, what's a bird to do? In Alberta, Canada, researchers analyzed hundreds of hours of Savannah sparrow love songs and discovered something extraordinary: To be heard above the din, the birds ...
Still, the country's oil output remains well below where it was under the rule of dictator Muammar Qaddafi. Major oil fields including El-Feel and Sharara have experienced sporadic disruptions, occasionally setting back the revival. Nonetheless, foreign companies are expanding their interest in the country.
Representatives of Exxon Mobil Corp. are denying that the company acted negligently in the case of a worker who died while checking an oil storage tank in eastern Montana. The Texas-based company on Thursday filed its response to a recent lawsuit from the estate of 30-year-old Trent Vigus of Glendive.
Speaking to reporters at a press conference, Pradhan said, “A concession agreement has been signed between an Indian consortium and Abu Dhabi National Oil Company (ADNOC) for award of 10 per cent stake in Lower Zakum Offshore oil field during Prime Minister Narendra Modi's visit to the Middle ...
Azar Oilfield, located in Anaran block bordering Iraq in Mehran, lIam Province, will double its output capacity in the next fiscal (starting March 21) as the ... According to officials, Iran has outpaced Iraq's crude extraction from the shared West Karoun block that includes several large oilfields straddling the ...
Gov. Doug Burgum, center, leads his first North Dakota Industrial Commission meeting on Tuesday with Agriculture Commissioner Doug Goehring, second from left, and Attorney General Wayne Stenehjem, right. Amy Dalrymple, Forum News Service. Lynn Helms. Buy Now. Lynn Helms, director of the North ...
ERBIL, Kurdistan Region (Kurdistan 24) – The Iraqi Federal Government has asked British giant BP Energy to help boost production in oil fields in Kirkuk – which are now under the control of Baghdad as a result of the Oct. 16 attack and takeover by Iraqi forces – according to Oil Minister Jabbar al-Luaibi. The Minister ...
In addition, Energean is implementing a new investment program to further increase production from the Prinos and Prinos North oil fields, as well as to develop the Epsilon oil field, located in the Gulf of Kavala offshore northern Greece. The new program, to be financed by a $180-million reserve-based ...
Abu Dhabi — Indian companies agreed to pay $600m for a stake in one of Abu Dhabi's biggest offshore oil concessions, securing a share in the emirate's crude production for the first time. State-owned Oil and Natural Gas Corporation (ONGC) and two other Indian companies will take a 10% share of the ...
Iraq is looking to attract billions of dollars in foreign investment to revive its economy. After the long civil war and low oil prices, the Iraqi oil industry is ready to rebound again - and the country plans to build refineries and crank up oil production. But reconstruction doesn't come cheap.
BOGOTA, Feb 11 (Reuters) - Colombia's state-run oil company Ecopetrol has suspended production at three of its fields in Meta province, after four workers were wounded during protests, the company said on Sunday. Protesters in Acacias and Castilla La Nueva municipalities in Meta intensified their ...
India To Buy First Stake In Abu Dhabi Oil Fields For $600 Million. The deal is an important milestone in India's search for energy security, as oil prices have started hardening again. Budget 2018 | Indo-Asian News Service | Updated: February 11, 2018 21:48 IST. 31 Shares. EMAIL. PRINT. COMMENTS. India To Buy First ...
CHICKASHA, Okla. – Continental Resources is working to contain a rig that is spewing water vapor. Crews were called to the rig located north of Chickasha city limits shortly after 5 o'clock Sunday morning. The Grady County Sheriff's Department tells News 4 that workers have been evacuated and safety ...
Iraq's oil minister says Baghdad has asked British energy giant BP to draft a study on boosting production in the Kirkuk oil fields in Iraq's Kurdistan region that were reclaimed by Baghdad late last year. Oil Minister Jabbar al-Luaybi told ... A sixth oil field remains in Kurdish hands. Luaybi's comments come as ...
Halliburton isn't content to limit its battle for market share with Schlumberger to the oil field these days. It's opened a new front in an unlikely place: the patent office. The Houston-based provider of drilling services is waging an aggressive campaign to persuade the U.S. Patent and Trademark Office to cancel ...
While the potential for a breakup of GE has rightly diminished investors' hopes that Baker Hughes will be transformed by the merger into an oilfield services company on par with Schlumberger or Halliburton, it shouldn't augur a serious deterioration in the company's existing competitive position. Still, we ...
There are several reasons to be optimistic about environmental progress in Los Angeles. The city is making massive investments in electric vehicles, making clean energy more accessible to everyday people, and cutting pollution from the ports and freeways to name a few. But with over 60,000 Angelinos ...
Streator man killed in oil field incident. David Giuliani, davidg@mywebtimes.com, 815-431-4041; 17 hrs ago; 0 · Facebook · Twitter · Email. Streator man killed in oilfield incident. Buy Now. Jared Rizzo. Contributed photo. Facebook · Twitter · Email; Print; Save. A Streator man died in an oil field incident last ...
OSLO, Norway – Borr Drilling's jackup Borr Norve has spudded the DTM-2H production well on the Tortue oil field offshore southern Gabon, according to Panoro Energy. Tortue, part of the Dussafu Marin production-sharing contract (PSC), is 50 km (31 mi) offshore in a water depth of around 116 m (380 ft).


 

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