Egypt’s state-owned Egyptian General Petroleum Corporation announced plans to launch bid rounds for 15 to 20 oil and gas exploration blocks in the first week of June. Mostafa el-Bahr, vice executive chairman for agreements and exploration at EGPC, stated: We’ve been working hard to prepare everything for the licensing round. We are targeting to launch [...]
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
The government is likely to delay the next round of auctions for oil and gas blocks by at least six months because of the global recession and fall in international crude prices. For full story, click here
The petroleum ministry is planning to auction over 100 prospective areas for oil and gas exploration by March 2009 under the eighth round of New Exploration Licensing Policy (Nelp-VIII). For full story, click here
The petroleum ministry is planning to auction over 100 prospective areas for oil and gas exploration by March 2009 under the eighth round of New Exploration Licensing Policy (Nelp-VIII). For full story, click here
ESSAR Exploration & Production (EEPL), a company of private sector conglomerate Essar group, has become the first Indian oil company to enter Australia For full story, click here
Oil and Natural Gas Corporation (ONGC), announced that the company and its partners and first timers BHP Billiton-GVK Power won 20 oil and gas exploration blocks out of the total 57 blocks that were offered on auction in the seventh round of auction under New Exploration Licensing Policy by the Cabinet Committee on Economic Affairs (CCEA). [...]
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