Egypt: Eni achieves giant gas discovery in the Mediterranean offshore Egypt

Italian Oil Company Eni declared some days ago the Mediterranean’s biggest-ever and the world’s 20th largest gas discovery offshore Egypt, in the Zohr field located in the Shorouk Block...

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UK: Backing onshore oil and gas industry and developing shale gas

“As part of our long-term plan to build a more resilient economy, create jobs and deliver secure energy supplies, we continue to back our onshore oil and gas industry and the safe development...

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Norway: Oil Minister assures that $40/bbl can’t last for long

Oil prices have decreased to the lowest level since 2009 indicating that the world oil glut will continue. Most of OPEC member countries are sustaining their production, and the U.S stockpiles are...

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Schlumberger to acquire Cameron

In an agreement unanimously approved by the boards of directors of both companies, Schlumberger and Cameron approve a merger in which the companies will combine in a stock and cash transaction valued...

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Oman’s daily oil production exceeded 1 MMbopd for first time

Oman succeeded reversing its oil output decline in 2008 by making new discoveries and using technology to improve recovery of oil from aging fields. Production increased from 710,000 b/d in 2007...

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Global Oil Demand Rising At Fastest Pace in 5 Years

A recent report by the International Energy Agency (IEA) has forecasts global oil demand rising at its fastest rate in five years in 2015. Despite this rise in demand, lower oil prices and spending...

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Iran: Oil production to hit 3.6mn bpd

Iranian Oil Minister Bijan Zanganeh has said Iran expects to raise oil output by 500,000 bpd as soon as sanctions are lifted and by a million bpd within months. A recent report issued by the...

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Egypt: Inauguration of the Newly expanded Suez Canal

Achieving one of his key goals, Egyptian President Abdel Fattah al-Sisi has succeeded in completing a major investment of $6 billion to extend the Suez Canal water way which allows larger amounts of...

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