World News

By Tina Davis NEW YORK (Bloomberg) — It’s not often that an OPEC producer accuses the U.S. of driving up oil prices. But that’s exactly what Iran Oil Minister Bijan Namdar Zanganeh said on state television Thursday. Two days after Donald J. Trump decided to withdraw from the Iran nuclear agreement, Zanganeh said the U.S. president is engaging in “shenanigans” ...

It is the time of the year again for our highly anticipated oil price related predictions for 2018. As our millions of faithful readers are aware, we have a rather impressive track record -from predicting the formation of ISIS to the crash of oil prices; from presenting Trump’s potential oil policies to the forecast of OPEC’s gradual decline. We’ve been ...

STAVANGER — Up to 2,400 men and women have started to mobilize for the hook-up and completion of Johan Sverdrup field in the North Sea. Approximately 150 people, plus crew from the flotel-operator ProSafe, set sail aboard the floating accommodation vessel Safe Zephyrus from Mekjarvik outside Stavanger, bound for the North Sea. When the flotel arrives at the Johan Sverdrup field this ...

State-held Nigerian National Petroleum Corporation (NNPC) aims to make its exploration and production unit—the Nigerian Petroleum Development Company (NPDC)—the top oil producer in the country, local media quoted NNPC group managing director Maikanti Baru as saying. NNPC aims to make NPDC the top E&P company operating in Nigeria and rivaling in terms of production Shell and the other international oil majors. Currently, ...

LONDON (Bloomberg) — While plunging output in Venezuela captures the oil world’s attention, problems are quietly festering in another OPEC nation. Angola, once Africa’s biggest crude producer, is suffering sharp declines at under-invested offshore fields, with output dropping almost three times as much as the nation pledged in an accord with fellow OPEC members. With the losses set to accelerate — ...

STAVANGER — Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced that both new infill wells drilled this year on Tambar field in Norway (Faroe 45%), have now been brought successfully into production. We also provide an update on the Fogelberg well operation, in which a ...

US Active Rigs Showing a Growth after weeks of declining After several weeks of decreasing, the US active rig count rose by five this week according to the Baker Hughes rig count statistics. Although drillers idled one of the inland water rigs, both onshore and offshore rigs rose by three. There are now 940 rigs actively drilling for oil and ...

A New Brazilian-Norwegian Agreement; Petro Bras and Statoil Partnership The two great and famous Brazilian and Norwegian oil companies, Petróleo Brasileiro SA and Statoil have signed a new agreement in order to complement the partnership they already have in Brazil, looking forward to increase and enhance natural gas operations, due to a securities filing on Friday. As PetroBras, the Brazilian ...

Ministers present at the 22nd World Petroleum Congress. The English-language publication “Drilling” is the only Iranian media supporting this prestigious global event.

500 top industry executives, 50 energy ministers and 6,000 delegates will converge on Istanbul for the 22nd World Petroleum Congress, which starts today. Referred to as the ‘Olympics’ of the oil industry, delegates will spend five days discussing a changing industry and an increasingly uncertain global environment. Oil prices have slumped almost 60% since reaching highs of more than $100 ...