Industry Developments

Nigeria is set to auction 17 oil blocks to a medley of foreign investors from India, China and Europe in its energy-rich deepwater zones. While the competition is unlikely to be intense... 2006-05-19

After many false starts and high hopes, British Gas (BG) has broken off gas negotiations with Israel, citing irreconcilable differences over pricing issues. Instead of selling gas... 2006-05-19

While Mauritania's entry into the African club of oil producing nations earlier this year, with the start up of the Chinguetti field, has been far from smooth sailing, the West African... 2006-05-18

Saudi Arabia hopes to boost its already impressive oil reserves by 25% within the next two decades, up from a current 264bn barrels of proven oil reserves, by speeding up its exploration... 2006-05-18

Spanish energy firm Cepsa has been awarded a new exploration permit after participating in Egypt's latest international licensing round. The permit is for the South Alamein block... 2006-05-18

Spanish-Argentine concern RepsolYPF high hopes for its Algerian Reggane concession seem to be paying off, with yet another gas discovery made following an initial one early last month.... 2006-05-17

US oil major ExxonMobil recently made a new oil discovery off the coast of Nigeria, adding to its already important portfolio within the West African country. The good news of the... 2006-05-17

After weeks of speculation, Angola's national oil company Sonangol has named the successful bidders for five blocks off Angola and reported high interest in two others, where the... 2006-05-17

The gas-rich state of Qatar yesterday provided a reminder of its continued importance as an oil producer and core member of OPEC. The country stated that it aims to increase its crude... 2006-05-16

The overseas arm of Indian energy player Oil and Natural Gas Corporation (ONGC) has begun drilling for oil in a block offshore Iran. The Farsi block is the first one to be operated... 2006-05-16