Crude oil and condensate production in Azerbaijan rose to 10.6 million tonnes in the first quarter of 2015 from 10.4 million tonnes in the same period last year, a source at the State Statistics Committee said on Monday.
Discussions are still going on to finalize the route for the proposed 230-km gas pipeline project with Iran, said Dr Mohammed bin Hamad al Rumhy, Minister of Oil and Gas, at a special briefing for the media yesterday.
Saudi Arabia should eventually consider raising its domestic water and power prices to limit rapid growth of consumption in the world's largest oil exporter, a deputy electricity minister said on Tuesday.
Technip, a world leader in engineering for the energy industry, has been awarded a brownfield subsea contract for the Triton floating production storage and offloading (FPSO) vessel, operated by Dana Petroleum, located in the central North Sea.
Senior security officers from the oil and gas sector will gather in order to address various security issues faced by the industry at a summit next month in Dubai, UAE.
Gulfsands Petroleum Plc said it removed Mahdi Sajjad as chief executive and appointed Alastair Beardsall, a nominee of its top shareholder, as executive chairman with immediate effect.
Russia paved the way on Monday for missile system deliveries to Iran and started an oil-for-goods swap, signaling that Moscow may have a head-start in the race to benefit from an eventual lifting of sanctions on Tehran.