• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 8 hours Oil prices going Up? NO!
  • 10 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 9 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 14 hours Oil prices going down
  • 2 days Gazprom Exports to EU Hit Record
  • 17 hours Could oil demand collapse rapidly? Yup, sure could.
  • 2 days Oil Buyers Club
  • 2 days Could Venezuela become a net oil importer?
  • 8 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 14 hours Saudi Arabia turns to solar
  • 1 hour Kenya Eyes 200+ Oil Wells
  • 1 hour Are Electric Vehicles Really Better For The Environment?
  • 16 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 16 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 7 hours OPEC soap opera daily update
Alt Text

Canada’s Oil Crisis Is Far From Over

While the Canadian government has…

Alt Text

The Fourth Industrial Revolution Is On The Horizon

The Fourth Industrial Revolution is…

Alt Text

Can Oil Pull Greece Out Of Poverty?

Greece’s withering economy could use…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

OIL & GAS DEVELOPMENT ALERTS – Amazon Oil Auction

Peru Prepares for Amazon Oil Auction

Peru is preparing to auction off 26 oil concessions in the Amazon region after holding consultations with indigenous groups. The Peruvian government is aiming to attract more than $1 billion in investments, with the estimated exploration investment for each concession running between $40 million and $50 million. This will be the second auction this year, and after a three year hiatus. In May, Peru’s state-run Perupetro auctioned off nine offshore oil concessions. More than 20 companies have expressed interest in those nine concessions, which could bring in around $450 million in exploration investment alone. These licenses should be awarded in October. The additional 26 Amazon concessions were originally intended for the May auction, but were removed from the list due to the need for consultations with indigenous groups. The consultations will begin in July and take approximately 120 days.  The government is hoping the auction will take place before the end of this year. It is also likely that the permitting time for oil exploration will be shortened for these concessions as the government seeks to reduce excessive red tape. We’re probably looking at one year for the approval of environmental permits, as opposed to the three years that it currently takes. 

DNO May Production Target in Kurdistan

Oslo-based DNO International ASA (DNO) has made another discovery at the Tawke field and successfully…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News