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ExxonMobil Finds Natural Gas Off Cyprus

Feb 28, 2019

U.S. oil and gas major Exxon Mobil Corp said on Thursday it had found natural gas offshore Cyprus, a region already known for some of the world's largest such discoveries.The east Mediterranean island is located in the Levant basin, where both Israel and Egypt have found some of the largest reserves of natural gas in the past decade.Exxon's discovery could represent natural gas resources of between 5 trillion and 8 trillion cubic feet…

Malaysia Banks 1 Billion+ BOE Discoveries in 2023

Dec 01, 2023

PETRONAS and its Petroleum Arrangement Contractors recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over 1 billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023. This achievement…

Egypt Finds New Oil Discovery in Gulf of Suez

Aug 22, 2023

Egypt's petroleum ministry on Tuesday announced a new oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez.The new discovery was made by Egypt's Cheiron through exploration well GNN-11, currently producing more than 2,500 barrels a day…

Aker BP Discovers Oil at Frosk

Jul 02, 2019

Aker BP ASA, operator of production license 340, has finalized the results after drilling wildcat well 24/9-15 S (Froskelår Nordøst) and appraisal well 24/9-15 A.According to a press note from the Norwegian Petroleum Directorate (NPD), the wells…

Cyprus Offshore Gas Discovery: Conflict or Hope?

Mar 03, 2019

Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas…

Current News

Borr Drilling Expects Higher Activity as Rigs Return to Work

Borr Drilling Expects Higher Activity as Rigs Return to Work

Iran-Linked Tankers Sail Through Hormuz Before US Blockade

Iran-Linked Tankers Sail Through Hormuz Before US Blockade

China Calls for De-Escalation as US Threatens Hormuz Blockade

China Calls for De-Escalation as US Threatens Hormuz Blockade

Oil Surges Over 7% to Above $102 Ahead of US Hormuz Blockade

Oil Surges Over 7% to Above $102 Ahead of US Hormuz Blockade

UK Declines to Support US Hormuz Blockade, PM Starmer Says

UK Declines to Support US Hormuz Blockade, PM Starmer Says

Hormuz Crisis Signals New Era of Risk for Gulf Energy

Hormuz Crisis Signals New Era of Risk for Gulf Energy

Petra Energy Secures Work Orders from Petronas for Sarawak Gas Project

Petra Energy Secures Work Orders from Petronas for Sarawak Gas Project

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Gold falls as inflation concerns linger over failed US-Iran negotiations
European chemical companies will report a decline in Q1 earnings due to the Iran War.
As the Hormuz Crisis worsens, physical oil in Europe reaches a record high of near $150 per barrel
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