Oil & Gas

  • Lime Petroleum to Buy MOL's Stake in Two...

    Lime Petroleum, a subsidiary of Rex International has signed an agreement with MOL Norge, a Norwegian subsidiary of Hungarian oil company MOL, to acquire MOL's 40 percent interest in two licenses in the North Sea, offshore Norway.


  • W&T Offshore In Bolt-on Purchase of Producing...

    U.S. oil company W&T Offshore said Tuesday it had acquired the remaining working interests in the oil and gas producing properties in the U.S. Gulf of Mexico bought earlier this year from an undisclosed private seller.


  • Shell Starts Production from 20,000 boe/d...

    Shell has brought online its PowerNap project, a subsea development in the U.S. Gulf of Mexico with an expected production of 20,000 barrels of oil equivalent per day (boe/d). PowerNap is a tie-back to the Shell-operated Olympus tension leg platform (TLP) in the prolific Mars Corridor.


  • Canada: NOIA Rebrands to Energy NL

    The Newfoundland and Labrador Oil and Gas Industries Association, founded in 1977 to represent the supply and service sector of the offshore oil & gas industry in the region, is now called Energy NL, as the company earlier this week announced changes to its "vision, mandate, and name." 


  • Petroecuador Plans to Double Oil Output in Next...

    Petroecuador, Ecuador's state-owned oil company, on Friday said it will look to double production to 800,000 barrels of oil equivalent per day (boed) in the next five years, which will need private sector investment worth some $12 billion.


  • Frontera to Lend $35M to CGX for Guyana Drilling

    Guyana-focused oil companies Frontera Energy Corporation and CGX Energy, joint venture partners in the Corentyne block offshore Guyana, said Friday they'd entered into a $35 million loan deal that will enable CGX to continue to finance part of its share of costs related to the Corentyne Block, the Berbice Deepwater Port, and other budgeted costs as agreed to with Frontera.


  • Equinor Files Impact Assessment for Wisting...

    Norwegian oil and gas company Equinor has filed an impact assessment for the development and operation of the Wisting oil field in the Barents Sea. The plan for development and operation (PDO) is planned to be completed at the end of 2022.



ADNOC announces three new oil discoveries

Abu Dhabi National Oil Company on Thursday announced three oil discoveries including one at Bu Hasa, Abu Dhabi’s biggest onshore field, with a crude oil production capacity of 650,000 barrels per day, the company said on Thursday.