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Magellan Petroleum announced the sale of the Company's 50% interests in Petroleum Exploration and Development License 234 in the Weald basin in the UK to Oil and Gas Investments PLC and the settlement of its litigation with Celtique Energie Weald Limited for approximately $1.8 million.   On June 10 2016,…
Technip has been awarded a major contract to develop the Bahr Essalam, Phase II development in the Central Mediterranean Sea.                                                  This natural gas field development, which…
Saudi Aramco and PKN Orlen, the Polish crude oil refining company held a signing ceremony of contract agreement to supply PKN Orlen with 50,000 barrels per day (bpd) of crude oil starting May 1, 2016 with provisions for automatic annual renewal.   The contract, formally agreed in May, marks PKN…
Omnix International, the provider of technology enabled solutions to the Middle East and AVEVA, the world’s leading engineering software provider, have today announced a formal business partnership. The alliance has been created specifically to address the increasingly complex needs of the Oil and Gas Industry in the KSA, Kuwait and…
Mohsen Qamsari, the director for international affairs of the National Iranian Oil Company (NIOC), stated that Iran has already reached the desirable level of oil output and likely to consider the oil freeze plan.   Qamsari said Iran’s current production of oil, based on OPEC calculations, stands at around 4.2…
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