the National Iranian Drilling Company has completed drilling operations in 193 exploration, appraisal, repair and production oil and gas wells during the previous fiscal that ended on March 20
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Oil trader BB Energy buys Australia oil terminal
BB Energy Group has announced that it has purchased Pioneer Energy, Morgan Stanley’s diesel terminal in Australia, via its wholly owned subsidiary Wala B Terminal Holding PTY Ltd
India to cut Iran oil import in row over gas field
The spat has been caused due to the issue over Iran delaying awarding the concession for development of the Farzad B, a major project that a group of Indian oil companies, headed by Oil and Natural Gas Corporation (ONGC), wants to bag
Russia, Iran to enhance cooperation in oil and gas
Vladimir Putin and Hassan Rouhani pledge to expand collaboration in energy industry during latter’s official visit to Moscow, as Gazprom and NIOC sign MoU to work together in Iran’s gas sector
UAE reduces March oil output by 200,000 bpd approx
WAM report quotes UAE Energy Minister Al Mazrouei as citing maintenance operations as the main reason for the production cut
US oil imports from OPEC rises in 2016: Report
The highest volume of petroleum import from OPEC countries in 2016 was recorded in July – 3 .803mn bpd, while the lowest level was observed in January – 3.052mn bpd
Schlumberger opens centre for oil & gas chemistry
The diverse development and testing capabilities available in the centre aided a customer in the Middle East that sought to decontaminate electrical submersible pumps with an in-situ solution to prevent unnecessary prolonged shut-in.
KSA sets tax rates on oil & hydrocarbon producers
The tax rate for investments exceeding $100bn will be 50%, SPA said. It gave other rates for producers with smaller investments
Algeria to curb oil output by 14% in next 4 years
Sonatrach plans to invest over $50bn in operations from 2017 to 2021 with the aim to increase production by 14%
Growth for oilfield services, drilling: Moody’s
The revised outlook comes as oil prices and upstream spending show continued signs of recovery, buoyed by expected improvements in OFS operating margins from very depressed levels and an expansion of upstream drilling budgets