The US Bureau of Land Management’s incurred costs and potential liabilities for reclaiming oil and gas wells likely increased from fiscal 2010 through 2017, but it’s not certain by how much since the agency does not track the needed data, the Government Accountability Office said in a report that it released on June 5. […]

Savannah Petroleum reports another indicated oil discovery in the R3 part of the R3/R4 Production Sharing Contract Area in the Agadem Rift basin of southeastern Niger. Wireline logs, fluid samples, and pressure data indicate the Amdigh-1 exploration well cut 22 m of net oil-bearing sandstone in the E1 and E2 units of the primary Eocene […]

Tight oil technology was improving already when crude oil prices began their plunge in mid-2014, speakers generally agreed during the US Energy Information Administration’s 2018 conference. But improvements might have quickened as the drop accelerated because producers and their goods and services suppliers felt pressed to be more economically and operationally efficient, they said during […]

Duqm Refinery & Petrochemical Industries Co. has issued contractors a formal notice to proceed with work on three previously awarded contracts for EPC of its long-planned 230,000-b/d refinery and petrochemical complex to be built in the Duqm Special Economic Zone in Duqm, Al Wusta Governate, Oman. Source: News

Woodside Petroleum has let a contract to oil field services group TechnipFMC for the water-treatment upgrade of the offshore Pluto Alpha gas production platform in the Western Australian Carnarvon basin. The contract entails the engineering, procurement, construction, installation, and commissioning of the Pluto water-handling module. Source: News

ExxonMobil Corp. said oil production is expected to start in 2023-24 from deepwater Carcara field in the Santos basin off Brazil, in which it has increased its interest in a unitization deal with Equinor ASA.   Source: News

Crude oil prices gained on both the London and New York markets June 5, but Brent prices fell in June 6 trading on news reports that Venezuela state oil company Petroleos de Venezuela SA (PDVSA) might declare force majeure on some oil contracts.  Source: News