TANZANIA OFFSHORE GAS: 216 MB
Norwegian oil company Statoil ASA ( STO ) said Tuesday that with its partner ExxonMobil Corp. ( XOM ) it has discovered 1.2 trillion cubic feet of natural gas, or 216 million barrels of oil equivalent, in the Giligiliani-1 well offshore Tanzania, the joint venture's seventh discovery in the block 2 area.
"This discovery has proven the gas play extends into the western part of block 2, which opens additional prospects," said Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere. "Our success rate in Tanzania has been high."
Statoil is the operator of the block 2 license, on behalf of the Tanzania Petroleum Development Corporation, with a 65% working interest. ExxonMobil holds 35%.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.