bp sells 20% stake in Omani gas project for $2.6bn

The move is part of a $25 billion divestment programme by 2025

Oil discovery in Egypt’s Western Desert

Independent producer Apex said the well in Cretaceous sandstones can produce 2,000 barrels a day

US seizes four Iranian fuel tankers bound for Venezuela

According to the Department of Justice, it is the government’s largest ever seizure of fuel shipments from Iran, with a total of around 1.116m barrels of petroleum

India plans to store oil in the US amid the global pandemic

As part of a new agreement with the US, India discussed the possibility of storing oil in the American emergency stockpile

Norway sees increase in offshore CO2 emissions

Petroleum activities in the Norwegian Continental Shelf generated 13.5 million tonnes of carbon emissions in 2015. That’s a 3% increase – or 400,000 tonnes – compared to 2014, according to the Norwegian Petroleum Directorate. It stated the main cause of the increase was start-up difficulties on the Knarr field and the Valemon and Edvard Grieg […]

US remains top natural gas, petroleum producer

The US produced more petroleum liquids and natural gas than any other nation last year. Production first surpassed Russia in 2012 and the US has been the highest natural gas producing nation since 2011 and the world’s top producer of petroleum since 2013, according to the Energy Information Administration (EIA). US petroleum supply increased by […]

$38m to study oil effects in Gulf of Mexico

Almost $38 million (£24.32m) has been invested to study the effects of oil in the Gulf of Mexico. A total of 22 research projects will use a share of the grant from the Gulf of Mexico Research Initiative (GoMRI), an independent 10-year programme established following the Deepwater Horizon incident. Five years ago BP’s oil rig explosion […]

US okays $500m petroleum processing facility

The US Environmental Protection Agency (EPA) has given the green light for a $500 million (£309m) petroleum processing facility in Texas. It has issued a final greenhouse gas ‘Prevention of Significant Deterioration’ (PSD) construction permit, allowing CCI Corpus Christi to start building the 100,000 barrel-a-day plant. Under EPA rules finalised in 2010, new projects that […]

US and China sign deals on energy

The US and China signed new agreements that are expected to increase co-operation on energy issues. The two nations pledged to expand their collaborations on clean energy and climate change during US Energy Secretary Ernest Moniz’s trip to Beijing earlier this week. They signed a memorandum of understanding (MOU) for co-operation on electric vehicles and […]

UK ‘became net petroleum importer in 2013’

The UK became a net importer of petroleum products last year, according to the US Energy Information Administration (EIA). Fossil fuels, including natural gas, coal and petroleum, currently represent most of the UK’s energy usage, accounting for 86% of total primary energy consumption in 2012. The EIA stated: “Refiners in the UK and throughout Europe […]