Latest news
SOCAR signs major agreement within modernization of Baku Refinery
Azerbaijan’s state oil firm SOCAR has inked an EPC (engineering, procurement and construction) with Italy’s Maire Tecnimont for the construction of new installations as part of the reconstruction and upgrading of Heydar Aliyev Baku Oil Refinery, according to a message from SOCAR.
read more... 02/02/2018
Europe needs additional energy sources as LNG domestic generation declines
According to Giles Farrer, research director of global LNG at Wood Mackenzie, more sources of supply are necessary to substitute the falling domestic production of LNG in the European market.
read more... 30/01/2018
Norway offers a record number of 75 new offshore exploration leases
Norway delivered a record seventy-five new offshore oil exploration leases to energy firms in the recent bidding round.
read more... 17/01/2018
Exxon Mobil discovers major oil reserves off Guyana
Exxon Mobil Corp declared that it had found a major oil reservoir off the coast of the South American state of Guyana.
read more... 09/01/2018
The exploration expenses of the big oil companies decline for the fifth year in a row
Despite the strongest beginning for oil prices in the last four years, the major oil companies in the world are not very eager to hasten the search for new resources as their willpower to retain capital discipline surpasses the hope of making successful discoveries.
read more... 05/01/2018