December 28, 2016

From Reuters: Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France’s Total, Britain’s BP, and Italian oil major ENI’s Egyptian subsidiary IEOC, the ministry said on Wednesday. The deals include drilling for six wells and a signing bonus of $9 million, the

From Macau Daily Times: India’s biggest oil and gas producer will pay as much as USD1.2 billion to buy a majority stake in a gas field off the country’s east coast, aiming to boost production as the country seeks to cut energy imports. State-owned Oil and Natural Gas Corp. Ltd.’s board approved the purchase of an 80 percent stake in

From Calgary Herald: The number of oil and gas wells abandoned by industry has expanded dramatically as depressed commodity prices forced operators into bankruptcy. Alberta’s inventory of wells without an owner financially capable of cleaning them up roughly doubled this year to 1,400, a clear indicator of the turmoil that rattled Alberta during the recession. The surge means taxpayers will be on the hook to pay

From PressTV: India and South Korea have raised oil imports from Iran more than four times in a month which saw four major Asian buyers more than double their purchases from a year ago. China, India, South Korea and Japan imported 1.94 million barrels per day (bpd) last month, up 117 percent on a year earlier, government and ship-tracking data