Tag: Oil and Gas
-
New Oil Discoveries
On 13th January 2017, ConocoPhillips Alaskan unit announced a big discovery in Alaska. The Willow discovery lies in the COP’s Greater Mooses Tooth (“GMT”) unit and consists of two wells which encountered 72 feet and 42 feet of net pay. 3-D seismic appraisal work will start this month, however initial estimates indicate the discovery could contain […]
-
OPEC Agrees to First Oil Output Cut in Eight Years
OPEC agreed to a preliminary deal that will cut production for the first time in eight years, according to delegates briefed on the matter. Oil prices gained more than 6 percent as Saudi Arabia and Iran wrong-footed traders who expected a continuation of the pump-at-will policy the group adopted in 2014.
