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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360ยบ

(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.

Oil 130
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Minister of Investment Discusses Green Energy Initiatives with Key Industry Players

Egypt Oil & Gas

The discussion focused on exploring new investment opportunities aimed at fostering sustainable economic development in Egypt. This project aims to advance the industrial sector by increasing the added value of local natural resources, ultimately boosting local production and exports.

Energy 52
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Western District of Louisiana Holds that Unit Operators May Not Recover Post-Production Costs from an Unleased Mineral Ownerโ€™s Share of Production Proceeds

The Energy Law

District Court for the Western District of Louisiana held that a unit operator may not recover post-production costs from an unleased mineral ownerโ€™s share of production proceeds in Allen Johnson, et al. 30:10 governed whether a unit operator may deduct post-production costs against UMOโ€™s share of production proceeds. [3]

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Overturning 8 Years of โ€œPalpable Error,โ€ The Louisiana Supreme Court Limits Damages Available to Landowners in Oilfield Legacy Litigation

The Energy Law

The โ€œ LL&E II โ€ decision finds that Act 312 charges the court, not the jury, to determine the funding needed to remediate property to government standards. If (and only if) an express contractual provision allows greater remediation than government standards, a jury may consider and award such โ€œexcess remediationโ€ damages.

E&A 105
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30% of Ghanaโ€™s crude oil consumption purchased through Gold for oil programme โ€“ Lands Minister

Reporting Oil and Gas

Jinapor emphasized that the government’s decision to acquire crude oil without relying on dollars through this innovative approach had significantly curtailed the depreciation of the Ghana Cedi, playing a crucial role in bolstering the national economy. Additionally, petrol prices decreased from GHS23 per litre to GHS12 per litre.

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Overturning 8 Years of โ€œPalpable Error,โ€ The Louisiana Supreme Court Limits Damages Available to Landowners in Oilfield Legacy Litigation

The Energy Law

The โ€œ LL&E II โ€ decision finds that Act 312 charges the court, not the jury, to determine the funding needed to remediate property to government standards. If (and only if) an express contractual provision requires greater remediation than government standards, a jury may consider and award such โ€œexcess remediationโ€ damages.

E&A 52
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Florida Investors and the Shift to Alternative Investments in Oil and Gas

Aresco

For investors, this presents an opportunity to invest in a sector with strong underlying demand fundamentals. government offers a variety of tax incentives aimed at encouraging domestic energy production. These include deductions for Intangible Drilling Costs (IDCs) and Tangible Drilling Costs (TDCs).

Oil 52