Italy’s Eni oil and gas company has been awarded an exploration license off the coast of Ghana. The new offshore licence, the Cape Three Points Block 4, in the prolific Tano basin, and it is expected to start producing oil in 2017 and gas the following year.
Italy’s Economic Development Minister has resigned amid allegations that she passed along confidential information to her boyfriend that helped his business interests, related to contracts with French oil giant Total in its plans to develop the Tempa Rossa oil field.
The head of the upstream division at Nigerian National Petroleum Corporation (NNPC) informed that production of Kaduna refinery plant is expected to restart by mid-April, Reuters reported.
Russian Rosneft is set to lower oil output, Natural Resources Minister, Sergei Donskoi said, ahead of a meeting of leading global oil producers in Doha on April 17th to discuss an output freeze to support weak oil prices.
Italian prosecutors are investigating Royal Dutch Shell’s involvement in a Nigerian oil deal, drawing the oil company into a corruption probe over the acquisition of an offshore field in the African country in 2011 together with Italy's Eni.
Cyprus has launched a third licensing round for offshore oil and gas drilling in the Mediterranean Sea, on the island’s southern coast. Blocks 6, 8, and 10 of the country's Exclusive Economic Zone are up for grabs.
Europe’s trading giants Guvnor and Vitol shipped their first gasoline to Iran vying for Iranian market share to gain a foothold in the Iranian oil supply.
Iran is expected to add 500,000b/d of oil supply within a year from its existing oilfields, but developing new fields would take time, the Head of the International Energy Agency (IEA), Fatih Birol, said.