New Zealand Oil & Gas Ltd. (NZOG) has now taken full control of Cue Energy Resources Ltd. after having launched a hostile takeover the Melbourne-based Cue nearly 2 years ago. Source: News
Tullow makes Erut-1 oil discovery in Kenya
The Tullow Oil PLC-operated Erut-1 well on Block 13T in northern Kenya has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100-125 m. Source: News
SOCAR lets contract for GPC gas, petchem complex
State Oil Co. of Azerbaijan Republic (SOCAR) subsidiary SOCAR GPC has let a contract to Axens SA, Rueil-Malmaison, France, to provide technology for a butene unit at its proposed grassroots gas processing and petrochemical complex to be built in Garadagh, Azerbaijan, 15 km south of Baku. Source: News
Zinke says he would move land management authority out of Washington
US Rep. Ryan Zinke said he would work to have more federal land management decisions reached outside of Washington, DC, as a product of closer collaboration with states and stakeholders if he is confirmed as the next US Secretary of the Interior. Source: News
MARKET WATCH: Brent crude oil falls closer to $55/bbl on stronger US dollar
Light, sweet crude prices gained slightly on the New York market on Jan. 17 as trading resumed after the Martin Luther King Jr. holiday on Jan. 16. But the US benchmark fell in early Jan. 18 trading on reports of a strengthening dollar and expectations that US producers will increase unconventional oil production. Source: […]
EIA: February oil output from major US onshore regions to rise 41,000 b/d
Crude oil output from the seven major US onshore producing regions is expected to rise 41,000 b/d in February to 4.748 million b/d, according to data from the US Energy Information Administration. Source: News
Twenty-nine firms awarded stakes in Norway’s APA 2016 licensing round
Twenty-nine companies have been awarded 56 new production licenses on the Norwegian continental shelf as part of Norway’s Awards in Predefined Areas (APA) 2016 licensing round. Thirty-three companies were eligible to apply for 148,014 sq km. Source: News
Takreer’s Ruwais refinery nearing restart, ADNOC says
Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co. (ADNOC), is preparing to restart about half of its more than 800,000-b/d Ruwais refining complex in the UAE following an early January fire that forced a partial shutdown of operations at the site. Source: News
Iran lets contract for Esfahan refinery project
Esfahan Oil Refining Co. (EORC), a subsidiary of Iran’s state-owned National Iranian Oil Refining & Distribution Co. (NIORDC), has issued a letter of agreement (LOA) to Daelim Industrial Co. Ltd. of South Korea for execution of a modernization and improvement project at EORC’s 375,000-b/d refinery in Esfahan City, Esfahan province, about 400 km south of […]
CNOOC starts oil production from Enping 23-1 fields
CNOOC Ltd. reported that oil production has started from the Enping 23-1 group of oil fields, which lie in about 90 m of water in the South China Sea’s Pearl River Mouth basin. Source: News