Indian rescuers began drilling from above a debris-filled tunnel Thursday in a desperate bid to reach dozens of people missing since a flash flood likely caused by a breaking glacier four days earlier.
Local Qatari geotechnical and material testing laboratory, Gulf Laboratories Company, has recently added the new jack-up drilling platform ‘Ammonite’ to its fleet of nearshore drilling equipment.
Crude production of 9.9 million barrels per day in the US was now at the highest level in nearly 50 years, "putting it neck-and-neck with Saudi Arabia, the world's second largest crude producer after Russia," the IEA said.
The parties will comprise of Qatar Petroleum with a participating interest of 30%, Eni with a participating interest of 55%, and Oman Oil Company with a participating interest of 15%.
Iraq started drilling the first well in the Huwaiza oil field near the Iranian border, which may contain one billion barrels in reserves, the Iraqi oil ministry said on Sunday.
Oil hovered around three-month lows on Monday, as rising inventories and drilling activity in the United States, the world's top energy consumer, offset optimism over Opec's efforts to restrict crude output and reduce a global glut.
India has awarded drilling rights for 31 small oil and gas fields as it looks to reduce its costly dependence on energy imports.
HE the Minister of Energy and Industry and current OPEC president Dr Mohamed bin Saleh al-Sada has said the “oil market was on the right track towards rebalancing in the second half of 2016.”