Total E&P has gotten the go ahead for its Tilenga oil development in Uganda. The project received a green light by the country's National Environment Management Authority (NEMA) after a 10-month evaluation by the regulatory body. The French oil major said the approval from NEMA was a major step in...
Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slump that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting...
As Reuters reported recently, so far only one Indian buyer of Iranian oil has taken up Saudi Arabia’s offer of additional oil to make up for the loss of supplies from Tehran due to U.S. sanctions. Last month, Saudi Arabia approached Indian buyers offering them additional supplies to compensate for...
Uganda has put five new blocks on offer for its second licensing round in the Albertine Graben, according to an announcement by the Minister of Energy and Mineral Development Eng. Irene Muloni at the East African Petroleum Conference and Exhibition, Kenya. Muloni said Uganda was expecting many potential exploration companies...
India buys most of its oil from Saudi Arabia. But it buys Iranian crude as well. So now that waivers of U.S. imposed sanctions on Iranian oil sales are ending, India is in trouble. India is among eight countries that recieved a six-month waiver when the U.S. re-imposed sanctions on...
Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with OPEC, then pumped some more. The country produced a record 11.356 MMbopd in September, according to data released Tuesday by the Energy Ministry’s CDU-TEK statistical unit....
Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. Since 2017, Russia and OPEC have cut...
Saudi Arabia says that it can meet all requests to satisfy June orders from countries that had to stop buying U.S. sanctioned Iranian crude. Moreover, Saudi oil production is likely in June to remain below the ceiling it agreed with OPEC and its allies late last year. That agreement...
Iran insists on boosting up its oil export to at least 1.5 million barrels per day (bpd) of oil, triple May’s expected levels under US sanctions, as a condition for staying in an international nuclear deal, sources with knowledge of Iran-EU talks were quoted by Reuters news agency as...
Cubility AS, a leading provider of solids control solutions, has announced a multi-million dollar contract to supply its MudCube® solution to Russian operator Slavneft and its OOO Baikit Oil & Gas Exploratory Expedition (OOO BNGRE) subsidiary. OOO BNGRE is responsible for exploration, drilling and production in the Krasnoyarsk region...