BRIC bank loans of $300 million will target Russian renewable energy projects in the Far East. The loans will finance projects in wind, solar, and small hydropower energy generation technologies. Russia is increasingly targeting its Far Eastern regions as it intensifies its strategic policy goals in Asia. Owned...
ExxonMobil announced it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well. The well, located in Block 10, encountered a gas-bearing reservoir of approximately 436 feet (133 meters). The well was safely drilled to 13,780 feet (4,200 meters) depth in 6,769 feet (2,063...
Development banks climate finance offers is huge. In a report published by <a href="http://Alternative Energy Africa.", climate financing by seven of the world’s largest multilateral development banks (MDBs) totaled $61.6 billion in 2019, of which $41.5 billion (67%) was in low- and middle-income economies, according to the 2019 Joint...
South Africa signed an exploration and production sharing agreement (EPSA) with South Sudan for Block B2. The deal – which is strategic for South Africa as an energy consumer – will see Block B2 operated by the state-owned Strategic Fuel Fund (SFF), the Ministry of Petroleum and Nilepet –the national...
Global Data is forecasting that by 2023, China will account for 44% of Asian crude oil refining capacity; followed by India at 15% and Japan at 8%. China will drive the majority of growth in the crude oil refining industry in Asia between 2018 and 2023, according to GlobalData, a...
Mexico's regulator has approved Shell's exploration plans for four deepwater areas, after it gave the green light to five others earlier this week, committing Royal Dutch Shell to invest at least $791 million. The plans stipulate that Anglo-Dutch Shell could invest up to $1.06 billion in the four blocks, mostly...
Indian Oil Corporation (IOC) is discussing how it can raise oil imports from Russia by cooperating with Russia's state oil company Rosneft, IOC’s chairman Sanjiv Singh said at ADIPEC this week. IOC is India's largest refiner. IOC has so far imported insignificant volumes of oil from Russia, and is now...
The Hellenic (Greek) Hydrocarbon Resources Management (HHRM) department reports that seismic studies of Crete's offshore predict major reserves located to the south. ”The team of HHRM completed the processing of seismic data to accurately map the geometric structures in the marine areas of central Ionian and south of Crete,” the...
SIMMONS EDECO wins Mexican drilling contracts that further expand its Latin American business. The Calgary-based supplier of onshore drilling and workover services completed an onshore drilling campaign for a major oilfield services company in Mexico in October. That USD multi-million dollar contract required SIMMONS EDECO to drill 13 wells....
ENI and Total will explore Caspian oil and gas blocks in offshore Kazakhstan, targeting Abay and Kashagan, plus onshore Karachaganak and Dunga. ENI is focused on exploration offshore in Kazakhstan while Total works onshore. Kazakhstan’s state-owned KazMunayGas and Eni Isatay, a subsidiary of the Italian energy company Eni, plan to...