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The project department and commercial department personnel of HOOSL arrived in Kenya in September, and attend the meeting about initializing the projects in Baringo-Silali area with the Company -- Geothermal Development Company. (GDC), the Company’s CEO, technical general manager and business manager attended the meeting. The meeting emphasized the specific details of initializing the project, through consultation, the two parties has reached the following consensus:1.  The meeting begun with welcoming remarks by the chairman followed by brief introduction by members, HOOSL express thanks to GDC.2.  GDC has completed the construction of well site, pre-drilling work, well site water supplying and the road construction have been completed. Therefore, the two rigs can be d...
发布时间: 2017 - 09 - 28
NEW YORK, May 3 (Reuters) - Oil prices fell for a second day on Tuesday, retreating further from the year's highs hit last week, as rising output renewed worries about the global glut of crude, the U.S. dollar rebounded and equity markets weakened.  Output from the biggest oil producers in the Middle East jumped last month or could surge in the near term, data showed this week, ahead of a U.S. government report on Wednesday likely to cite record high crude stockpiles.  Brent crude futures settled down 86 cents, or 1.9 percent, at $44.97 a barrel. U.S. crude's West Texas Intermediate ...
发布时间: 2016 - 05 - 04
Paka Drill Pad No.2 in ProgressDrill Pad No.2 in Progress  Hong Kong Off-Shore Oil Services Limited (HOOSL) and GDC have signed a contract for the drilling of 15-20 wells in the Baringo-Silali Block. The signing took place in a brief ceremony held on Wednesday April 6, 2016 at the Kawi GDC Boardroom, attended by the Ag. Managing Director& CEO Paul Ngugi and a delegation from the contractor. “This is a big day for us; it is a pleasure to have signed this contract after a long negotiation period” said a representative from the contractor. The Ag. MD & CEO, Paul Ngugi noted that...
发布时间: 2016 - 05 - 04
Oil reserves in Uganda are estimated at some 6.5bn barrels Landlocked Uganda has announced it will build a major pipeline to export its oil through Tanzania.Uganda had planned to send the pipeline through Kenya, which wanted a joint facility for oil from its own fields that are under development.The pipeline will now be routed further south, with concerns about possible attacks by Somalia's al-Shabab Islamists said to be a factor.The group has attacked targets close to where the pipeline would have passed. Uganda announced its decision in Kampala at a summit of the East African Commu...
发布时间: 2016 - 04 - 29
The world's biggest crude exporter, Saudi Arabia, breaks from its usual practice of selling via long-term contracts, according to Citigroup.  (Bloomberg) -- Saudi Arabia made its first sale of oil to a small, independent Chinese refiner. What’s more significant to markets is that the world’s biggest crude exporter broke from its usual practice of selling via long-term contracts, according to Citigroup Inc.The world’s biggest crude exporter sold a spot cargo to teapot refiner Shandong Chambroad, said people with knowledge of the deal who asked not to be identified as the information is con...
发布时间: 2016 - 04 - 27
(Bloomberg) -- The new magic number in the oil industry is $50.BP Plc, rig-owner Nabors Industries Ltd. and explorer Pioneer Natural Resources Co. all said in the past 24 hours that prices above $50 will encourage more drilling or provide the needed boost to cash flow. With oil bouncing close to $45 a barrel, an industry that has been shaving costs to stay competitive is ready for signs of stability at a price level less than half of 2014’s average.At an average price of $53 per barrel of oil means the world’s 50 biggest publicly traded companies in the industry can stop bleeding cas...
发布时间: 2016 - 04 - 27
ONGC intends to drill up to 17 shale oil and gas exploration wells in India for around $105 million. India's state-owned Oil and Natural Gas Corp. Ltd. (ONGC) intends to spend approximately $105 million (INR 7 billion) to drill up to 17 shale oil and gas wells located on the country's east and west coasts, local media The Economic Times reported Sunday.  ONGC has approached the Ministry of Environment and Forests for its approval to prepare the terms of reference for the exploration wells, the Economic Times said, citing minutes of a recent meeting of the Ministry's Expert Appraisal Commi...
发布时间: 2016 - 04 - 27
TOKYO, April 21 (Reuters) - International Energy Agency (IEA) chief Fatih Birol said on Thursday he expects the oil market to come back into balance from oversupply by next year, providing there is no major economic downturn.  Birol said low oil prices have cut oil investment by about 40 percent in the past two years, with sharp falls in the United States, Canada, Latin America and Russia, and the world's reliance on Middle East oil will accelerate substantially in the next few years.  "This year, we are expecting the biggest decline in non-OPEC oil supply in the last 25 years, ...
发布时间: 2016 - 04 - 21
(Bloomberg) -- Europe is awash with low-priced natural gas, thanks to Russia and Norway using a Saudi-like tactic to hold market share.Utilities from EON SE to Centrica Plc are beneficiaries as Europe’s two biggest gas suppliers provided a record amount of the fuel in the first quarter, according to Societe Generale SA. The glut discouraged cargoes of U.S. liquefied natural gas and contained growth of imports from Qatar.There are parallels with the global oil market where Saudi Arabia, the biggest producer, boosted output last year to fend off U.S. shale drillers as crude prices collapsed. Gas...
发布时间: 2016 - 04 - 21
Mergers and acquisitions activity steadies from the end of 2015 into the current year, but the dollar value of those transactions was down year-over-year. Constrained cash flow, highly leveraged assets and over-extended balance sheets have remained concerns at oil and gas companies – all of which has led to a “leaner for longer” strategy in the “lower for longer” market.  Although this approach has meant mergers and acquisitions (M&A) activity has remained flat in the United States, according to a new report from PwC US, it positions these companies for a market recovery.  “We be...
发布时间: 2016 - 04 - 21
(Bloomberg) -- The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless.The Obama administration is expected to issue the sweeping new regulations Thursday, a person familiar with the decision said, as part of an effort to reduce the number of well blowouts after the explosion aboard the Deepwater Horizon rig in 2010. The government has pegged the rules’ costs at less than $1 billion.The changes would arrive amid the worst oil slump in a generation...
发布时间: 2016 - 04 - 14
Malaysia's state-owned oil firm Petroliam Nasional Berhad (PETRONAS) urged liquefied natural gas (LNG) consumers and producers to strive for a more equitable relationship in the current oversupplied market to ensure the continuity and sustainability of the business, Ahmad Adly Alias, vice president of LNG Marketing, said Wednesday at the LNG 18 Conference in Perth, Australia.  “Currently, there is a perception that the LNG market will be oversupplied for a long time, prompting many buyers to demand better commercial terms from sellers. However, if LNG prices continue to be depressed, ther...
发布时间: 2016 - 04 - 14
OPEC cuts its forecast for global oil demand growth in 2016 and warns of further reductions citing concerns about Latin America and China, pointing to a larger supply surplus this year. LONDON, April 13 (Reuters) - OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.  The Organization of the Petroleum Exporting Countries also said top exporter Saudi Arabia kept output steady in March - a sign Riyadh is serious about a plan to be discuss...
发布时间: 2016 - 04 - 14
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