Iraq tells oil companies to submit conservative funding requests for 2016 A letter dated September 6, 2015, from the Iraq Oil Ministry was sent out to international oil companies operating inside the country notifying them that they should plan to lower spending in 2016, reports The Wall Street Journal. Iraq is struggling to support its energy sector as it feels
Russia produced roughly 10.9 MMBOPD in 2014 While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). In 2014, the country produced an average of 10.9 MMBOPD of crude oil and condensate. Russia exported more than 4.7 MMBOPD
Offshore production in Perla Field expected to reach 1,200 MMcf/d Italy’s Eni (ticker: E) announced that it has started production on the first phase of its offshore operations in the Perla gas field, approximately 50 kilometers (about 31 miles) offshore in the Gulf of Venezuela. The field is the largest offshore field in Latin American and the first to be
1.45 Tcf gas, 5MMBO project is 12% of 2015’s Foreign Direct Investment in Africa: Ghana President The government of Ghana, ENI (ticker: E) and Vitol yesterday signed an agreement to start work on the Offshore Cape Three Points (OCTP) oil and gas project offshore of Ghana. The new project, set approximately 60 km (37 miles) from the Ghanaian Western Region’s
