Oil & Gas Industry News
State-owned oil refiner CPC Corp. announced a NT$1.1 (US$0.03) per liter fuel price hike from Monday, the largest weekly increase this year so far.
A joint expedition by India and the U.S. discovered a major deposit of natural gas in the Indian Ocean, offering the potential to significantly expand energy production in a region that’s currently a big importer.
The Republic of Congo is in default on its international debts after missing an interest payment on $478m of bonds due at the end of June, as the oil price collapse claimed another victim.
Iran’s oil exports have grown threefold as compared to export volumes during the period of international sanction, after the country has signed short-term contracts with a number of several European oil companies, according to the Iranian Mehr News Agency.
Iranian President Hassan Rouhani says Iran and South Korea must make use of their great potential to expand their strategic relations in all sectors.
According to the Kazakhstan’s Energy Minister Bozumbayev, Tengizchevroil, Karachaganak Petroleum and Kashagan oilfield will step up oil production.
According to Petrol World Tunisia, which shale gas reserves amount according to preliminary estimates to 650 billion m3, intends to use these resources provided it adopts an appropriate legislative framework in Tunisia said the Director General of Energy at the Ministry of Energy and Mining Ridha Bouzouada.
Complex Drilling Works Trust of the State Oil Company of Azerbaijan started drilling a new well at Neft Dashlari field (Oil Rocks), Caspian Energy News (www.caspianenergy.net) reports with reference to SOCAR.
Bahrain’s King Hamad bin Isa Al Khalifa has replaced the oil minister in a minor cabinet reshuffle on Friday that affected two cabinet portfolios.
Turkey is willing to cooperate with Iran, namely with its province of Kermanshah, in petrochemical industries, Deputy Head of the Turkish Chamber of Commerce Cuneyt Golet said Wednesday.
SOCAR and BP will conduct joint geological exploration at the prospective block of D230 at the North Absheron field. The companies signed the corresponding memorandum of intent on May 24, 2016. The document was signed by heads of SOCAR R. Abdullayev and regional director of BP in Azerbaijan, Georgia and Turkey G. Birrell.
Azerbaijan state-run energy company SOCAR has signed a memorandum for cooperation and joint activity with its Uzbek counterpart Uzbekneftegaz, the national holding company. The two entities have agreed to join forces in oil and gas exploration and development as well as other opportunities in energy markets.
Bahrain’s oil export revenues will fall from 7,2 billion USD in 2015 г to 4,3 billion USD in 2016.
Southeast Asian states, including Taiwan, have increased oil imports from Iran significantly.
Till the end of 2016 China wants to import about 7 million barr/day with the help of its oil companies, as reported by Sinopec, April 18, 2016.
Ifax cites diplomatic source in the capital of Qatar.
Earlier Er-Riyard refused to join negotiations without Iran.