Turkey has discovered 150 million barrels of net oil reserves valued at an estimated $12 billion, according to an announcement by Turkish President Recep Tayyip Erdogan. Erdogan revealed the massive find during a cabinet meeting. "We discovered 150 million barrels of net oil reserves in Gabar ... Read More

A total of 10 hydrocarbon discoveries have been made offshore Malaysia in 2022 – twice what was made last year – following the increase of exploration activities in the country. According to data provided by Petronas, eight oil and gas discoveries were made off the coast of Sarawak, and one each off ... Read More

Oregon has become the fourth U.S. state to approve a ban on the sale of gasoline and diesel-powered cars from 2035. The move is part of efforts on the part of Oregon’s authorities to reduce emissions by 50 percent by 2035 and further by 90 percent by 2050. The transport sector generates some 40 ... Read More

Date: December 20, 2022 Source: Ministry of Commerce On December 18, 2022, the website of Horizon Radio reported that Petronas decided to withdraw from South Sudan, which has served the oil industry in South Sudan for 24 years. This was announced by Benjamin, Minister of Presidential Affairs of ... Read More

Increased month-on-month heating demand in Europe due to colder temperatures did not hurt the continent as both businesses and households changed their behavior. Wood Mackenzie said that colder temperatures across Europe have increased month-on-month heating demand by 20% in December, but a ... Read More

Each morning when Michael Quinn pulls into the parking lot of the luxury apartment complex he manages in West Texas and looks across the street, an unsightly vision blots the horizon: a 24-foot-high insulated wall. Quinn, who works at the Midway Station Apartments in Midland, isn't troubled by the ... Read More

Date: December 8, 2022 Source: logistics chain After weeks of repeated negotiations and the insistence of some countries at the last moment, the EU confirmed that an agreement had been reached to set a price ceiling for Russian oil. This is a key step against the Russian ban on seaborne oil imports, ... Read More

Russia has agreed to supply crude oil, diesel, and gasoline to Pakistan at discounts, Pakistan’s Minister of State for Petroleum, Musadik Malik, said on Monday. Monday saw the beginning of the EU embargo and the associated price cap of $60 per barrel on Russian crude oil, which the EU and the G7 ... Read More

Offshore oil and gas infrastructure faces significant and increasing cybersecurity risks in the form of threat actors, vulnerabilities, and potential impacts, the U.S. Government Accountability Office (GAO) announced in a study publicly released late last week. “Modern exploration and production ... Read More

MELBOURNE: Oil pared early gains and was on track for a steep weekly decline on concerns about weakening demand in China and further interest rate rises by the US Federal Reserve. Brent crude futures had edged lower by 13 cents or 0.1 per cent to $89.65 a barrel by 0737 GMT, and were not far off ... Read More