Late on Friday, Blackstone Group’s Gavilan Resources LLC filed for Chapter 11 bankruptcy citing oil price collapse and a bitter legal battle with a partner. Formed following the $2.3 billion acquisition of Texas shale oil properties in 2017, Gavilan listed… Read More ›
As per a report from Saudi-owned al-Arabiya TV, the Kingdom’s Khafji oil field, which is jointly operated with Kuwait, will produce 320,000 oil barrels per day (bpd) by the end of 2020. The announcement by was made by Prince Abdulaziz… Read More ›
Exxon has a long term contract to improve Iraq’s West Qurna oil field. In a significant development, Iraq’s Oil Minister Thamer Ghadhban stated, a major oil deal between Iraq and Exxon Mobil is “very close” in the making; the trajectory… Read More ›
The deal will be formalized today in a ceremony in which Zhenhua Oil is expected to commit to building an “oil residential complex” in Iraq’s East Baghdad oilfield, a super giant. A spokesman for Iraq’s oil ministry disclosed that it… Read More ›
U.S. shale producers realise that with great power comes great responsibility. In what could potentially offset OPEC’s move to cut oil productions so as to reduce the glut in the global oil pool, U.S. shale oil producers are plotting an… Read More ›
manageria.biz 