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1. Major oil producing countries agree on plans to increase production The 19th ministerial meeting of the organization of Petroleum Exporting Countries (OPEC) and non OPEC oil producing countries was held in the form of video on the 18th. The participating countries reached an agreement on gradu...Read more »
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1. Eni made a major oil discovery off the coast of Ghana Eni group of Italy said on July 6 that it may have found as much as 700 million barrels of oil equivalent in the Eban exploration prospect off the coast of Ghana. The discovery has resulted in an estimated oil and gas reserve of more than 1...Read more »
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1. BP plans to leave Iraq Iraq’s oil minister, IHSAN Abdul Jabbar ismaael, recently confirmed in a video released by Iraq’s oil ministry that BP is considering quitting its upstream business in Iraq, where the super giant operates Rumaila, the largest oil field. Rumaila oilfield is th...Read more »
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1. Santos starts feed work of Dorado project in Australia Santos, an Australian gas producer, launched the feed process of its Dorado oil project on June 29 and said the first phase of the project would cost about $2 billion. The company said the world-class shallow water oil and gas development ...Read more »
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1. Turkey finds new gas in the Black Sea Turkey’s president Erdogan announced Friday that Turkey found another 135billion cubic meters of natural gas in the Black Sea and plans to start production in 2023. This has brought the total amount of natural gas found in Turkey to 54billion cubic m...Read more »
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1. Equinor and ExxonMobil will jointly develop $8billion worth of Brazilian fields Equinor, ExxonMobil, petrogal Brasil and PR é- sal Petr ó Leo SA (PPSA) said on Tuesday that it would jointly develop the $8 billion bacalhau subsalt oil field in Brazil’s Santos region. The development plan ...Read more »
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1. Iraq to invest $3 billion in Basra gas Iraq’s oil minister, Ahsan Abdel Jabbar, recently announced that Iraq plans to invest 3 billion US dollars in Basra natural gas company in the next five years to increase its natural gas production capacity by 40%, from 1 billion cubic feet per day ...Read more »
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1. Total’s climate strategy is supported by its shareholders Patrick pouyanne, chairman and CEO of French oil giant total, said on Friday that investors at the company’s annual general meeting supported the company’s climate strategy and approved the change of the name of the gi...Read more »
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1. Subsea 7 won a huge contract with Petrobras Subsea 7 disclosed on Monday that it has won a huge contract between us $500 million and US $750 million from Petrobras to develop the mero-3 oil field off the coast of Brazil. The scope of the contract includes the design, manufacture, installation ...Read more »
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1. Russian gas ust Luga large comprehensive natural gas project started Russian Deputy Prime Minister Alexander Nowak and Gazprom CEO Alexei Miller attended the launching ceremony of ust Luga large-scale comprehensive natural gas project in Leningrad last week. It is reported that after the compl...Read more »
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1. Qatar promotes $29 billion LNG expansion project to increase fuel exports Qatar is currently reducing the export price of liquefied natural gas and promoting a $29 billion expansion project to increase its fuel exports by more than 50%. In addition, according to people familiar with the matter...Read more »
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1. Saudi wealth fund sells shares of Canadian oil giant Saudi Arabia’s sovereign wealth fund (PIF) has sold all 51 million shares of Suncor Energy, one of Canada’s largest oil producers and major oil sands producers, currently worth $1.2 billion. 2. Us abandons sanctions against Ger...Read more »
