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Kenya’s Block 2B to See Spud in 2015

Partners on Kenya’s Block 2B Taipan Resources, Tower Resources, and Premier Oil should see a well spud on the block in early-2015, despite the complications they have been having with the locals. Operator of Block 2B, Taipan, recently attended the high court in Nairobi seeking a variation to the conservatory order served on the Badad-1 […]

December 1, 2014 Read More

ONGC Plans More Mozambican Investment

ONGC is planning to invest an additional $3 billion in Mozambique according to the Economic Times. ONGC Videsh, the state-run oil firm’s overseas unit, and Oil India Ltd. have already spent $5 billion for a 20% stake in the country’s Offshore Area 1 where significant reserves of natural gas have been discovered. ONGC Videsh and […]

December 1, 2014 Read More

OPEC Maintains Production Levels Despite Price Plunge

Crude prices continue their downward spiral with OPEC hitting four year lows on its basket price last week. The organization saw its basket price hit $70.80 per barrel on November 27, almost a $3 drop from the previous day’s $73.70. While the drop has allowed consumers in the US to enjoy lower gas prices at […]

December 1, 2014 Read More