Government said on Thursday it hoped to unlock gas and oil resources worth almost $40 billion by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields.
Energy demand in India far outstrips consumption, but regulated low prices for gas from prolific but challenging deepwater fields have deterred investment in the sector.
Under the reforms, companies will have more freedom to set the price of gas from new discoveries and existing finds not yet in production. But they will be subject to a ceiling price set according to the landed price of alternatives such as fuel…
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BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
ConocoPhillips's gas-focused North Sea assets pumped 72,000 b/d of oil equivalent last year, and the acquisition will help boost Chrysaor's total production this year to over 185,000 boe/d, Chrysaor said in a statement.
Renewable energy sources generated approximately 33 per cent of Great Britain’s electricity over the first quarter of 2019, according to new figures published by energy consultancy EnAppSys, with wind energy accounting for over 60% of renewable generation.
To further explore opportunities for bilateral energy expansion, Turkish Energy and Natural Resources Minister Fatih Dönmez and German Federal Minister for Economic Affairs and Energy Peter Altmaier met in Ankara for the second Turkish-German Energy Forum in October last year to sign a letter of intent to enhance the Turkish-German energy partnership.