Turkey warned off oil companies participating in the bidding round for tracts offshore Greek Cyprus and spudded an onshore well in the Turkish-controlled region of Cyprus.
Fourteen years ago, Petrobras lost its upstream monopoly due to constitutional changes. Even though there are around 70 private companies, mostly foreign, operating in Brazil, Petrobras still maintains nearly absolute dominance over the sector.
For Marathon Oil Corp., 80% of the company’s growth of 200,000 barrels of incremental production per day is expected to be driven by the Bakken, Niobrara, Woodford and Eagle Ford shale plays.