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Source: Bahari Oil and gas exploration company Tullow Oil has farmed into licenses located in the Indian Ocean offshore Comoros. Tullow said on Thursday that it had agreed with Discover Exploration to farm into Blocks 35, 36 and 37, offshore the Union of the Comoros in the Indian Ocean. Following the completion of this …
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To stem cross border leakages and forestall attendant products price hikes, Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, has enjoined Major Marketers Association of Nigeria (MOMAN) to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders. Mr. Ajiya, who spoke during an …
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SHELL MALABU SCANDAL
by Andreas Exarheas Rigzone Staff The next OPEC general meeting on December 6 has been described as a 'critical binary event for oil prices'. The Dec. 6 OPEC general meeting has been described as a “critical binary event for oil prices,” in an industry note published by Jefferies on Tuesday. “The Saudis have already …
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by Bloomberg Grant Smith & Dina Khrennikova The most powerful partnership in the global oil market faces its toughest test yet. (Bloomberg) -- The most powerful partnership in the global oil market, which rescued the industry from a deep slump, faces its toughest test yet. Crude has collapsed by more than 30 percent and …
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Impending cyclical cost inflation could raise break-even costs in an otherwise healthy deepwater industry, energy analytics company Wood Mackenzie said in its latest report. Illustration; Image by: Berardo62; Source: Wikimedia – under the CC BY-SA 2.0 license In a report published on Tuesday, WoodMac said that the deepwater industry appears in good health, following a sustained cost reduction …
The Department of Petroleum Resources (DPR), yesterday said it would not compromise Health, Safety and Environment standards in the nation’s oil and gas industry in line with international safety requirements. The agency also said it would not leave any stone unturned to ensure that operators in the industry comply with set rules with a view …
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by Andreas Exarheas Rigzone Staff Analysts at Fitch Solutions Macro Research revise their oil price forecasts to 2022 in a new report. Analysts at Fitch Solutions Macro Research have revised their oil price forecasts to 2022 in a new report, which was sent to Rigzone on Tuesday. The analysts now forecast that Brent will …
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by Bloomberg Tsuyoshi Inajima Oil fell after rising the most in almost two months as major oil exporters prepare to discuss output policy amid rising price volatility. (Bloomberg) -- Oil fell after rising the most in almost two months as major oil exporters prepare to discuss output policy amid rising price volatility. Futures in …
By Russell PadmoreBusiness reporter, BBC World Service Image copyrightGETTY IMAGES A court in Milan is considering charges of corruption against Eni and Shell in a controversial oil deal that led to Nigeria losing an estimated $6bn. The campaign group Global Witness has calculated the OPL 245 deal in 2011 deprived Nigeria of double its annual …
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