Oil | Egypt Oil & Gas - Part 48
Lekoil Announces First Oil from Otakikpo in Nigeria
Lekoil has confirmed that the Otakikpo field, a shoreline location in Nigeria, has achieved first oil. Two intervals (of four) in just one well yielded rates of 5,703 b/d, whereas two wells had been expected to flow 6...
Obstacles Persist to Arctic Drilling
There are serious obstacles still confronting Arctic drilling, stated The New York Times in a recent expose. The article mentioned multiple issues, not the least of which are persistently low oil prices. While the Arc...
Oil Companies Ponder Exiting Angola Due to Regulatory Costs
A series of measures introduced by Angola’s government in recent years has pushed production costs up as much as $500m annually and the country risks losing investment from foreign oil companies, Jean-Michel Lavergne,...
Sahara Group Listing Nigerian Oil and Gas Assets on Stock Exchange
A Nigerian energy company, the Sahara Group, will dual list its oil and gas unit in London and Lagos along with a debut dollar bond sale, reported Bloomberg. This move is meant to raise as much as $1.4b to buy oil blo...
Iran Targets Bangladesh with ‘Peace Pipeline’ and Energy Projects
Tehran’s Ambassador to Bangladesh, Abbas Vaezi, announced that Iran is ready to talk about extending its Iran-Pakistan-India “peace pipeline” to include Bangladesh, reported Press TV. The original $7-billion 1,800 kil...
Brazil’s Petrobras Braces for Strikes
The largest oil workers union in Brazil has announced that it will begin a strike against Petrobras on Sunday, Asia Shipping Media reported. The workers are striking to protest austerity measures being implemented at ...
Iran, South Africa To Improve Petchem Relations
A delegation from the Iranian Ministry of Petroleum will visit South Africa in Octubre to discuss improving mutual relations, Deputy Oil Minister in Petrochemicals Abbas Sheri Moqaddam said, SHANA news agency reported...
Saudis Reassured by Obama Over Post-Sanction Iran
A senior Saudi official announced on Friday that Saudi Arabia is satisfied with assurances from US President Barack Obama about the Iran nuclear deal and believes the agreement will contribute to security and stabilit...
