World Business News

Eni has made the ninth oil discovery in Block 15/06, in deep water offshore Angola. The well was drilled at a water depth of 976 m and reached a total depth of 4,107 m.

Waltersmith Petroman Oil has announced a US$40mn investment plan to set up a 5,000 bpd refinery in Nigeria

A company statement said that evaluation for the feasibility of the project had been ongoing and there were plans to bring it on stream before the end of 2013.

Many have asked me how they can engage in equity participation for upstream oil and gas development.

This question is coming only a year after oil was discovered in the northwestern parts of Kenya, and as these discoveries await commercial confirmation, brisk exploration is also continuing on the coastal blocks.

Far East Energy Corporation has started its 2013 drilling campaign in Shouyang Block, Shanxi Province in China.