Continuing our African focus over the last couple of days, let’s turn to Somalia. I spent some six months in the country over twenty years ago and even then the American oil company Amoco was busy exploring for oil in the North of the country and in the Gulf of Aden. The reasoning being simple … Read More
exploration
Uganda: Africa’s “New Oil Frontier”
We are used to talking about the oil majors like Shell being in the spotlight over African oil exploration. But a smaller player is making the headlines, with a soaring share price and two African discoveries in a week: one in Uganda and another off Sierrra Leone. It is the Irish independent company Tullow that … Read More
A Nodding Donkey in your Back-Yard
Although the oil price has now dipped significantly from its highs of the summer, its relatively high price is having an effect on both oil consumption and production. Take the UK: The rising cost of running a car has caused traffic on Britain’s major roads to drop for the first time since congestion was measured, … Read More
The Second North Sea Oil Boom
Happy Environment Day, story number three. The record oil price could cause a second oil boom in the North Sea. The popular view is that the UK’s share of the North Sea is in decline, with energy reserves diminishing rapidly about 35 years after the oilfields were first exploited. However, there is a growing body … Read More
The Seabed Scramble
We just don’t know when to stop. It looks like we are going to chase every drop of oil under every remote sea-bed, no matter the consequences. A fevered scramble for control of the world’s seabed is going on – mostly in secret – at a little known office of the United Nations in New … Read More
Greenland Joins the Oil Rush
There is something absurdly ironic when climate change caused by the oil industry leads to the melting of ice, which in turn leads to more land or sea being available to explore for oil and gas. The latest country to be affected is Greenland, where oil companies have begun looking for crude deposits off the … Read More
Drilling for Oil to Start Off Falkland Islands
After 10 years of delays since oil was discovered off the Falkland islands, oil companies are planning to start drilling within the next 12 months. The move follows the conclusion of lengthy, but successful, tests by geologists and significant cash injections by two major oil companies which plan to bring rigs to the islands by … Read More
Statoil Begins Arctic Drilling
Statoil, the Norwegian national oil company, has begun a two-year drilling programme in Arctic waters to determine the potential of Norway’s share of one of the world’s few remaining unexplored oil prospects. It also hopes to co-operate with Russian companies such as Gazprom to find oil and gas further into the Arctic, including areas disputed … Read More
Argentina Annoyed at Falklands Oil Deal
Australian mining giant, BHP Billiton says it has acquired a 40% interest in 14 offshore exploration and production licenses in the Falkland Islands in the South Atlantic. The 14 production licenses cover approximately 18 million acres located in water depths ranging from approximately 200 to 2,000 meters. BHP Billiton is the designated operator, starting in … Read More
Now Denmark Eyes North Pole
The Arctic rush is well and truly on. Hot on the heels of Russia and Canada, Denmark has now started a new polar expedition to explore the region. The aim is to gather data showing whether there is a basis for a possible future Danish claim to parts of the Arctic. If evidence is found … Read More