Energy Bangla

Energy electricity and environment news portal

Dhaka Monday,  Apr 22, 2019

Petroleum

By Nicholas Cunningham: The confrontation between Russia and the West took a turn for the worse with the downing of a Malaysian airliner on July 17, and that could spell trouble for several major oil companies operating in Russia. Just one day earlier, U.S. President Barack Obama slapped sanctions on Russia over its ongoing role in the destabilization of Ukraine. The sanctions prohibited American banks from issuing loans with a... »
ondon based energy company Tullow Oil said Wednesday it received a favorable ruling from a London court of appeals in a simmering dispute over Ugandan assets. “Tullow Oil plc is pleased to announce that Tullow Uganda Ltd., its Ugandan subsidiary, has received judgment in its favor in the proceedings against Heritage Oil and Gas Ltd and Heritage Oil Plc in the Court of Appeal in London,” Tullow said in a... »
Tullow Oil plc announce that its subsidiaries operating in Uganda have received a ruling from the Tax Appeals Tribunal (TAT) in Uganda relating to Capital Gains Tax (CGT). Following the completion of the farm-down of 66% of its assets in Uganda to CNOOC and Total in 2012, Tullow was issued with a CGT assessment by the Uganda Revenue Authority (URA) of approximately $472m. Tullow paid 30% of the assessment (approximately... »
By James Stafford: Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero. Determining where the next real oil boom will be depends largely on following the technology, and while the Permian Basin has... »
Tullow Oil plc announces that the Gardim-1 exploration well, drilled on the eastern flank of the Chew Bahir Basin in the South Omo licence, onshore Ethiopia, has reached a total depth of 2,468 metres in basement, without encountering commercial oil. The well intersected lacustrine and volcanic formations, similar to those found in the Shimela-1 well on the north-western flank of the basin. Minor intervals with thermogenic gas shows were intersected... »
State-owned Bangladesh Petroleum Corp plans to import around 1.58 million mt of oil products from eight term suppliers during the second half of 2014, down 31.30% from the first half, a senior BPC official told. BPC completed term negotiations with eight Asian companies last week, he said. The drastic fall in imports of 180 CST high sulfur fuel oil with up to 3% sulfur and 0.25% sulfur gasoil are behind... »
By Chris Dalby: These Are The 5 Countries Most Plagued by Oil Theft. These are Nigeria, Mexico, Iraq, Russia and Indonesia. Nigeria: As much as 400,000 barrels of oil a day are stolen in Nigeria. This equates to losses of $1.7 billion a month for Africa’s new largest economy. This represents 7.7 percent of its GDP vanishing, or more than the country spends on education and healthcare. These numbers paint... »
Tullow Oil plc announces that the Hanssen wildcat well, in production licence 537, offshore Norway, has encountered a 20-25 metre oil bearing sandstone with good reservoir properties in the main target (Stø Formation). The Hanssen well was drilled about 7 kilometres northwest of the Wisting Central oil discovery and about 315 kilometres north of Hammerfest. The well also encountered hydrocarbon bearing sandstones in the Late Triassic (Snadd Formation) and in... »
SINGAPORE, June 30, 2014 (BSSAFP): Oil prices eased in Asia Monday on softer US demand, but tensions in the Middle East where jihadists have declared an Islamic state straddling Iraq and Syria will likely keep prices high, analysts said. US benchmark West Texas Intermediate for August delivery was down 26 cents at $105.48 a barrel in late-morning trade and Brent crude dropped 22 cents to $113.08. Analysts said investors are... »
“The PR Marriott 46 rig has recently completed the Ngamia-2 well which was drilled 1.7 km from the Ngamia-1 discovery well to test the northwest flank of the prospect. The well encountered up to 39 meters of net oil pay and 11 meters of net gas pay and appears to have identified a new fault block trap north of the main Ngamia accumulation. The reservoirs were high quality with more... »