HOUSTON — Halliburton has announced the release of the Dash Large Bore Subsea Safety System, which provides full electrohydraulic control of well safety and intervention functions. The fully customizable system brings new benefits to deepwater operators for completion and intervention work that improve critical well control of the subsea safety system, tubing hanger and deepwater subsea field developments. Halliburton collaborated ...

DOHA, Qatar (Bloomberg) — Qatar Petroleum is exploring for oil and gas in Cyprus and Morocco as part of a strategy to expand the tiny Gulf emirate’s global energy investments. The world’s biggest producer of liquefied natural gas known as QP must cope with local limits on growth as it seeks to expand its LNG business and increase its production ...

TEHRAN, Feb. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh and his Omani counterpart Mohammed bin Hamad Al Rumhy held energy talks in Tehran on Tuesday. Iran is planning to export natural gas to Oman through a subsea pipeline. Prior to the Tuesday talks Zangeneh expressed optimism that the talks would bear favorable results for the two countries. “We ...

TEHRAN, Feb. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says export of petroleum products is an approach adopted by the Iranian Ministry of Petroleum. Addressing a ceremony to break grounds for construction of phase II of a project to stabilize and develop Abadan Oil Refinery, southwestern Iran, the official said Iran is currently meeting most of its energy ...

TEHRAN, Feb. 06 (Shana) — The supergiant South Pars Gas Field will account for 80 percent of Iran’s total gas output in the future years, a senior gas official said.  Gholamreza Bahman Nia, director of coordination and supervision over production at the National Iranian Gas Company (NIGC), said the field is Iran’s biggest gas complex and will be relied on ...

TEHRAN, Feb. 05 (Shana) — Iran says it holds 711.53 billion barrels of crude oil in-place of which 102.44 billion barrels are recoverable. Addressing a press conference, Karim Zobeidi, deputy managing director for consolidated planning at the National Iranian Oil Company (NIOC), said on Saturday that Iran has so far pumped 72.95 billion barrels of crude oil from its reserves ...

ST. PETERSBURG — Gazprom Neft has met its annual production targets at the Prirazlomnaya offshore platform, with a total 2,154,000 tonnes of ARCO (Arctic Oil) being produced at the field in 2016—a more than 2.5-fold increase on 2015 volumes. Prirazlomnaya is the only field on the Russian Arctic Shelf at which commercial hydrocarbon production is ongoing. Oil produced at Prirazlomnoye ...

NEW YORK (Bloomberg) — OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a decade as the Organization of Petroleum Exporting Countries and other producers reduce crude output. Saudi Arabia has said more than 80% of the targeted reduction of ...

DUBAI (Bloomberg) — Lukoil is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. The Moscow-based company plans to add output from the region to existing operations in Iraq and Egypt as long as it finds projects with production costs as low ...

TEHRAN, Jan. 30 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said crude oil suppliers are content with the price of oil in the range of 55 to 60 dollars a barrel, adding the market is moving towards restoration of supply-demand balance. “The oil market is moving towards rebalancing of supply of demand and no one has ever imagined this ...