Latest Stories

Eni, the Italian oil and gas company, discovers significant gas reserves in Kutai Basin, Indonesia

4 October 2023

Italian oil and gas company Eni, which currently holds the operator rights for the Indonesian Deepwater Development (IDD) block, has discovered significant proven gas reserves in the Kutai Basin Working Area (WK).

Iran signs deals with local tech firms to restore sluggish oil wells

4 October 2023

Iran’s Petroleum Industry Innotech Park (PIIP) has signed four deals with local knowledge-based companies aimed at restoring five sealed and underperforming crude wells, the Shana news agency reported on October 2.

Iran oil output hits new high in over five years

3 October 2023

Iran’s crude output has hit a new record high since 2018, the year the United States reimposed and reinforced sanctions on the country.

Guyana’s first Payara crude to be loaded in November, S&P reports

3 October 2023

Guyana’s first Payara Gold crude is on schedule to be loaded in November, a program obtained by S&P Global Commodity Insights revealed. Production is expected to commence by the end of the year, following the launch of the project’s FPSO vessel.

ExxonMobil, Hess exit Kaieteur block offshore Guyana

3 October 2023

ExxonMobil Guyana is withdrawing from the group formed to explore Kaieteur, a deepwater block located off the coast of Guyana. It will cede its 35% stake to two of its partners, Ratio Petroleum of Israel and Cataleya Energy of Canada.

Baking land, bath tub warm seas, melting ice caps - in charts

3 October 2023

The seas are the temperature of bath water and the land is baking. This year the rise the global temperature in June already passed the 1.5C limit compared to the 1850-1900 base set in the Paris Accords as the upper limit for global warming.

Russian government sets rules for selling ExxonMobil's Sakhalin-1 stake

3 October 2023

Russia’s government has approved rules for valuing and selling ExxonMobil’s stake in the Sakhalin-1 oil project in the Far East, the TASS news agency reported on September 29.

Thailand's power authority imports LNG to help reduce electricity costs

3 October 2023

Jiraporn Sirikam, Deputy Governor for Power Generation of the Electricity Generating Authority of Thailand (EGAT), has revealed that EGAT has procured LNG under short-term contracts from 2023 to 2027, totalling 1.2mn tonnes per year.