News / International

Oil price surges as Libyan crisis intensifies

Brent crude climbed to $108 per barrel and US oil contracts leapt by $6 a barrel on Monday as Colonel Gaddafi's bid to cling to power in Libya appeared to become more desperate.

BP halts Libya drilling

BP said it is suspending preparations to drill in the Libyan desert as its contractors pull out over unrest, while other operators intend to evacuate expatriate staff from the North African country.

OMV closes acquisition of Pioneer’s subsidiaries in Tunisia

OMV, the leading energy Group in the European growth belt, through its fully owned subsidiary OMV (Tunesien) Production GmbH, completed the acquisition of 100% of the entire issued share capital of Pioneer Natural Resources Tunisia Ltd. and Pioneer Natural Resources Anaguid Ltd. (together "Pioneer Tunisia") from Pioneer Natural Resources, an independent US oil and gas company. The transaction was aligned with the Tunisian government.

Libya: BP to drill offshore Libya by end-June

BP, recovering from last year's Gulf of Mexico oil spill, plans to begin offshore exploration drilling in Libya by the end of June, later than previously expected. Spokesman Robert Wine said on Thursday that BP expected to drill offshore in Libya in the first half of this year and that work on an onshore well would begin sooner. The company had previously planned to begin offshore drilling in 2010.

Kenya: Apache farms into Origin Energy’s Block L8 PSC in the Lamu Basin offshore Kenya

Origin Energy has reached agreement with a subsidiary of US independent Apache Corp to divest a 50% undivided interest in a Production Sharing Contract (PSC) for petroleum exploration and production, pertaining to Block L8 located in the Lamu Basin, offshore Republic of Kenya.

Edison completes renegotiations with Eni for the supply of natural gas from Norway

Edison successfully completed the renegotiation with ENI for concerning the price for the long-term contract for the supply of natural gas from Norway expiring at the end of the year.

Iraq to auction giant field in 2011

Iraq plans to hold a licensing auction later this year to award the giant Nassiriya oil field to international oil companies, the country's Deputy Prime Minister for Energy Hussein al-Shahristani told a visiting Japanese minister of trade and industry, according to the Dow Jones Newswires.

Sonde Resources Wraps Up Ops Offshore Tunisia

Sonde Resources has completed drilling and production testing of its inaugural well on the 7th of November Block, offshore Tunisia / Libya, the Zarat North-1 appraisal well, in which Sonde owns a 100% working interest.

Rumaila Exceeds 10% Improved Production Target

The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant field in Southern Iraq by increasing production by more than 10 per cent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009.

Platts: OPEC Pumps 29.27 MMbpd in Dec

The 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil production averaged 29.27 million barrels per day (b/d) in December, up 170,000 b/d from an estimated 29.1 million b/d in November, according to a just-released Platts survey of OPEC and oil industry officials and analysts.

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