Iran has found new shale oil reserves in its western province of Lorestan. The state-run National Iranian Oil Company (NIOC) said that the new discovery
Category: Oil
Qatar Petroleum to Launch Oil Exploration in Morocco and Cyprus
Qatar Petroleum (QP) is going to launch exploration projects of oil and gas in Morocco and Cyprus in an attempt to compensate for the oil
Venezuela’s PDVSA Late on Oil Shipments to Russia and China
Venezuela’s state-run oil company, PDVSA, has for months been unable to deliver the shipments of crude and fuel in a timely manner under oil-for-loan deals
Canada Upgrades Its Oil Forecast for 2017
The Petroleum Services Association of Canada (PSAC) has upgraded its 2017 oil and gas well drilling estimates by 23 percent amidst recovering global oil prices
US President Trump to Revive the Keystone XL
US President Donald Trump wants to revive the Keystone XL oil pipeline as a major move under his “America First” energy plan to give a
Market Update: Oil Prices Rising as OPEC Production Falls
Oil prices have been on the rise since major crude producers painstakingly tightened their output in support of the agreement struck on 30 November to
Exxon Expand Operations in West Texas and New Mexico
Exxon Mobil Corp. is the latest company to join the energy firms in race to build up drilling portfolios in the red-hot Permian Basin in
Venezuela’s PDVSA Projects a Bad Year Ahead
Venezuelan state-run oil company PDVSA expects that 2017 will remain to be a challenging year with more economic hardship likely coming along its way. The
Market Update: Oil Freeze Hard to Keep as Prices Sink Again
Oil prices went down earlier this week after Libya, which has an exemption from output cuts, had increased its production by more than a factor
Lebanon About to Kick-Start Its Offshore Gas and Oil Production
Lebanon is planning to kick start its oil and gas industry by rekindling its licensing process with the aim to boost the development of a