China's scaling up of its oil and gas detecting and exploiting technologies has paid off as it has now added a significant amount to its geological reserves. PetroChina Changqing Oilfield Company, the regional branch of China's PetroChina, has discovered an additional 1 billion tons of oil from shale oil resources at its oil field in Qingcheng, Northwest China's Gansu province.
read more... 29/10/2019
Crude oil prices rose on Monday after Yemen’s Houthi forces used a drone to attack an oilfield in eastern Saudi Arabia on Saturday, threatening global oil supplies. Brent crude added $1.1, or 1.9% to settle at $59.74 a barrel. WTI futures gained $1.34, or 2.4% to end at $56.21 a barrel.
read more... 20/08/2019
Authorities in Norway have formally approved the development and operation of the second phase of the giant Johan Sverdrup oil field.
read more... 16/05/2019
Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.
read more... 14/05/2019
Iraq and a Chinese company signed on Wednesday a 1.07-billion-U.S. dollar agreement to process associated gas extracted from Iraq's southern giant Halfaya oilfield.
read more... 09/05/2019