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Drillers added one oil rig in the week to Feb. 23, bringing the total count up to 799, the highest level since April 2015, Baker Hughes, a GE company, said in its weekly report. That was the first time since June that drillers added rigs for five consecutive weeks.
The Trans Mountain expansion was approved by Canada in 2016, but has been repeatedly delayed by permitting issues.
Italy’s Eni (NYSE: E) will probably have to move a drilling ship blocked by Turkey off Cyprus, but will not relinquish its interests in the area, the oil major’s CEO said on Feb. 22.
The rule, finalized in November 2016, took effect in January 2017 and was aimed at reducing leaks of natural gas, or methane, that happen through venting and flaring during oil production on federal land.
The resource giants had said they were looking to sell 13 fields, licenses and associated infrastructure held in Australia's Gippsland Basin.
Enerplus stood by its capex forecast of C$535 million to C$585 million in 2018, saying it will spend 75% of that amount to develop its North Dakota assets in the Williston Basin.
Jan Arve Haugan will take the helm of Aker Energy on March 1, after leading Kvaerner since 2011.
The two firms now aim to build a 50-50 joint venture to deliver subsea installations, maintenance and repair services.
Libya’s El Feel oilfield was shut early on Feb. 23 due to the presence of armed groups in the area, a source familiar with the matter told Reuters on Feb. 23.
Seeing the potential benefits of oil, residents of the poorest of Kenya’s 47 counties now want the central government to make up for decades of neglect by ploughing nearly a third of expected oil revenues back into Turkana.
A consortium operating Kazakhstan’s giant Kashagan oil field is considering the joint development of two smaller nearby fields, one of which is co-owned by Oman Oil Co., its senior executive said on Feb. 23.
The project is located offshore Vietnam and operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam.