Image - Spains Canary Islands Fume Over Oil Exploration

Spain's Canary Islands Fume Over Oil Exploration

Spain's government sparked an outcry Thursday by giving oil group Repsol the all-clear to explore for oil and gas off the coast of the tourism-dependent Canary Islands. The industry ministry gave Repsol a three-year licence to drill in three sites some 50 kilometres (30 miles) off the coast of the Spanish archipelago, which lies off the northwest coast of Africa. The exploration, approved in a decision published Wednesday in the of...

Exploration - Oil and Gas - Aug 14, 2014


Image - Israeli Tycoon Claims Huge Oil Find in Dr Congo

Israeli Tycoon Claims Huge Oil Find in Dr Congo

A company owned by Israeli mining magnate Dan Gertler said it has discovered vast potential reserves of oil in the strife-torn east of the Democratic Republic of Congo. Oil of DRCongo, a subsidiary of the Fleurette Group, said in a statement that seismic testing from Lake Albert, which forms part of the northeastern border with Uganda, indicated reserves of around three billion barrels of oil. It said exporting the oil from North Kivu ...

Oil and Gas - Exploration - Aug 11, 2014


Image - Exterran Partners Completes Acquisition of Assets from MidCon Compression

Exterran Partners Completes Acquisition of Assets from MidCon Compression

Exterran, today announced that Exterran Partners has completed its previously announced acquisition of natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation (NYSE:CHK), for approximately $135 million. The assets acquired include 162 compression units, with a total horsepower of approximately 110,000, which are currently being used to provide compression services in Arkansas’ Fay...

Oil and Gas - Exploration, General News - Aug 8, 2014