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 MoreONGC 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 MoreCrude 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