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Vår Energi confirms discovery of oil and gas in the Rødhette exploration well

The exploration well proved successful with the latest preliminary estimates showing volumes between 9-12 million barrels of recoverable oil equivalents. The discovery is significant for the area says Torger Rød, Vår Energi CEO: “With the Rødhette result, Vår Energi celebrates a sixth exploration discovery this year, as the exploration team continue a successful 2021 campaign.

Halliburton launches iStar Intelligent Drilling and Logging Platform.

Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations. The platform’s digital architecture supports automation, machine learning, and artificial intelligence for reservoir evaluation, faster drilling, and consistent well delivery. The iStar platform acquires high-definition measurements closer to the bit

U.K. Takes Emergency Steps as Forecourts Run Dry

The U.K. government took emergency measures late Sunday to try to ease acute fuel shortages across the country, as gasoline retailers shut pumps after days of panic buying. The government is to suspend competition law to allow oil firms to target fuel deliveries at petrol stations following recent panic buying. Prime Minister Boris Johnson had

NNPC pulls out N215bn petrol subsidy from July FAAC

The Nigerian National Petroleum Corporation (NNPC) has disclosed that it spent N175.32 billion on petrol subsidy in the month of July 2021 which will be deducted from its remittance to Federation Account Allocation Committee (FAAC) in September. NNPC in its FAAC report said an earlier outstanding of N40 billion will be deducted also, bringing the

Oil Prices Rise on Tight Supply, Hit Three-month High

Oil prices extended gains yesterday riding higher on growing fuel demand and crossing $76 for the first time since July this year. The rally was fuelled by huge United States crude inventories drawdown as well as production challenges in the Gulf of Mexico. Precisely, Brent crude, Nigeria’s oil benchmark, rose nine cents, or 0.1 per