Mazarine Energy announced that its subsidiary, Mazarine Energy Tunisia, and partner ETAP (Entreprise Tunisienne d’Activités Pétrolières) have made a discovery in a Tunisian oil-bearing reservoir. The discovery was made in exploration well Sidi Marzoug-1 (SMG-1) in the 4,012-sq-km in Central Tunisia. During a production test, SMG-1 well flowed, constrained...
Helena Oil & Gas is looking to attract fresh investment to its oil projects in Texas by creating the Helena Security Token (HEST). The creation of HEST lets investors support an existing, active project in the oil and gas sector without having to pay many of the extensive administrative and...
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...
Russia's Lukoil and Hungarian energy company MOL will sign a settlement over dirty oil that left high levels of organic chloride in the Druzhba pipeline. “We are proud to say that we are the first country which managed to close the negotiations in this respect,” Hungary’s Foreign Minister Peter Szijjarto...
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal. At current oil price levels, spending on land rigs, fracking and other...
Fugro is set to commence its first project using new multipurpose ROV support vessel, Edda Sun, with mobilisation for the IRM contract planned for March 2019. With a recently announced two-year charter of the Edda Sun, Fugro has enhanced its IRM, construction and decommissioning support services in Europe. The Edda Sun...
Sulzer GTC Technology has signed an agreement with JSC SIBUR-Neftehim (SIBUR) to provide its licensed pyrolysis gasoline (pygas) processing technologies. This includes design of the fractionation, first and second stage hydrotreating, aromatics extraction and thermal hydrodealkylation technologies. The system is intended to modernize gasoline production at SIBUR’s Kstovo olefins...
Gazprom Neft continues to champion the digital transformation of the oil and gas industry by agreeing a joint venture with ICS Holding to develop digital products for not only the Russian energy market but globally as well. The development strategy for the new joint venture is aimed at addressing...
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...
Rosnedra has confirmed a record oil find in the Yenisey River delta. Russia’s state mineral extraction agency estimates that the Paykha fields may hold as much as 8.4 bbls where the Yenisey flows into the Kara Sea. Russia's business daily Kommersant called the estimate one of the largest...