Oil | Egypt Oil & Gas - Part 94
Total Flares Out Ofon Offshore Development Field in Nigeria
Total has completed the flare out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of the Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG.
Clashes Continue at Libyan Oil Ports
Rival Libyan troops have clashed over two of the country's main oil terminals for a second day, leading to their closure.
Iraq’s Crude Exports Increased in December
Iraq's crude oil exports reached 2.94 million b/d in December, a new record high, taking the country's 2014 monthly average to 2.517 million b/d, as the recent deal with Kurdish authorities begins to bear fruit.
Kuwaiti Oil Drops to $47.36
The price of Kuwaiti oil went down by $3.99 Monday to $47.36 per barrel compared to $51.35 last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.
DNO Completes Drilling on Tunisian Offshore Well
Drilling has concluded on the Jawhara-3 well in Tunisia’s Sfax offshore exploration permit, according to operator DNO.
Gazprom Brings Third Well in Iraq’s Badra Field onto Production
JSC Gazprom Neft said a third well in the Badra field in eastern Iraq has come on production, ensuring “sustainable” rates of at least 15,000 b/d. Drilling of another three wells continues.
Statoil Announces Valemon Offshore Oil and Gas Field on Stream
On 3 January the Valemon gas and condensate field in the North Sea was brought on stream by Statoil and partners. Recoverable reserves from the field are estimated at 192 million barrels of oil equivalent.
Oil Extends Decline From 5 1/2-Year Low as Glut Persists
Oil fell for a third day, extending its drop from the lowest close since 2009, as record supplies from Iraq and Russia bolstered speculation that a global glut that drove crude into a bear market will persist. 
