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Exxon Mobil Corporation announced that its subsidiary, Esso Exploration and Production Nigeria Limited, has started oil production ahead of schedule at the Erha North Phase 2 project offshore Nigeria. The Erha North Phase 2 project is a deepwater subsea development located 60 miles offshore Nigeria in 3,300 feet of water…
Russia may consider allowing Chinese investors more than 50 percent stakes in its strategic oil and gas fields, an official said on Friday, an about-face by Moscow that underlines its need for foreign help to develop energy reserves. While closely guarding control of the oil and gas fields that supply…
In a bid to enhance energy security, India is setting up Strategic Crude Oil Reserves of 5.33 Million Metric Tonnes (MMT) at three locations in the country. Dharmendra Pradhan, Minister of State (I/C) for Petroleum & Natural Gas, informed the Rajya Sabha in a written reply today that the Government,…
Iran will withdraw up to $4.8 billion from its sovereign wealth fund to spend on developing its oil and gas fields next fiscal year under a proposal approved by parliament. The decision to dip into the National Development Fund underlines the heavy financial pressure which Iran faces from low oil…
Energy secretary Ed Davey has warned that the Conservative party’s opposition to onshore wind turbines risks undermining the creation of British jobs as new data showed 15,400 people are now employed in the wind power industry.   The data from trade body RenewableUK shows a 70% rise in jobs in…
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