Latest news

Turkey set to begin oil and gas drilling off Cyprus

Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighbouring Cyprus and Greece.

read more... 22/02/2019


Daily (29.01.2019): Brent crude dropped by nearly 3% on rising U.S. oil production and declining economic growth

Oil prices plunged on Monday, reaching its lowest level in the last 10 days after an increase in U.S. crude drilling production, and persisting concerns over a global economic decline. According to Reuters, U.S. drillers added 10 oil rigs last week expanding the market tendency towards oversupply. Brent crude dropped by 2.8% closing at 59.93 USD/bbl, while WTI crude was down by 3.2% settling at 51.99 USD/bbl.

read more... 29/01/2019


Albania and Shell drop plans to drill for oil in protected area

The Albanian government and the local subsidiary of Royal Dutch Shell have dropped plans to search for oil in a protected area in the southern Albanian region of Gjirokaster as part of drillings in Block 4.

read more... 28/01/2019


KOG unveils drilling plans for Horse Hill and other UK onshore assets

UK Oil & Gas (UKOG) has unveiled its plans to drill up to nine production, appraisal and exploration wells during 2019 and 2020 across its assets, located onshore UK, including the Horse Hill field, which it aims to bring into permanent production.

read more... 25/01/2019


Eni reports gas discovery at Merakes East prospect offshore Indonesia

Italian oil and gas major Eni has reported a new gas discovery in Indonesia’s offshore East Sepinggan block through the drilling of the Merakes East prospect.

read more... 20/12/2018