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Brazil’s presalt fields have the potential to make the country self-sufficient in gas production; however, energy policy changes are needed to reach the goal, according to a study released by the Federal University in Rio de Janeiro.
Iran's top security body is still reviewing the Iran Petroleum Contract (IPC) model, Oil Minister Bijan Zanganeh was quoted as saying on April 9, as the contracts aimed at attracting foreign investors appear to face fresh delays.
Nigeria’s senate will debate a long-awaited oil industry reform bill after receiving the draft law on April 6, the latest step in efforts to overhaul the energy sector in Africa’s largest economy.
Moves by Brazilian authorities to create new rules to ease existing local content policy have pleased oil companies that perform E&P activities in the country.
Norway will appoint a public commission to look into the safety of the country’s offshore oil and gas industry following a recent string of accidents, the government said on Nov. 29.
Mexico’s oil regulator on Oct. 3 gave oil companies an extra week to submit comments and questions about the country’s first-ever deepwater joint venture covering state oil company Pemex’s Trion Field.
A bill ending the requirement that Brazil’s state-controlled Petrobras must lead all new projects in the country’s Subsalt Polygon region should become law by year-end 2016, the president of oil industry association IBP said on Sept. 28.
Mexico’s Finance Ministry announced on Sept. 6 the minimum value of additional royalties for companies participating in a deepwater oil tender, one of the most highly anticipated auctions since the opening of the local oil industry.
Norway will review whether to tighten offshore safety rules after “repeated failures” at Eni's Arctic Goliat Platform, including a power outage during the week of Aug. 22, a minister said.
A bill that would allow companies other than state-led Petrobras to run new oil and gas projects in Brazil’s prolific subsalt region advanced on July 7 when a committee of the lower house of Congress voted to recommend it in hopes of reviving stalled petroleum investment.
The U.K. Department of Energy and Climate Change (DECC) has been abolished by the newly appointed U.K. Prime Minister Theresa May, who stood up the Business, Energy and Industrial Strategy Department in its place.
The U.K. subsea industry has urged the government to do everything it can to protect the $13 billion sector in the face of lower oil prices.