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News from the Oil Patch: 'Fern' freezes, 'The Beast' topples, output hard put
09 Feb 2026 20:21 GMT
… in Louisiana. The Strategic Petroleum Reserve tops out slightly over … Kansas, including one new permit in Stafford County and one … That's 45 new permits this year compared to 66 …
Cleanup continued after a massive drilling rig tipped over and crashed to …
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Venezuela Rewrites Oil Rules as Washington Quietly Shifts Course
09 Feb 2026 19:22 GMT
… a general license allowing certain transactions involving Venezuelan oil: two … and control over its resources.
It is a reversal … removes the rule that reserves goods and services linked … flexibility can become a concession that shrinks public take …
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ILLINOIS FACES $1 BILLION CLEANUP BILL FOR ABANDONED OIL WELLS
09 Feb 2026 22:53 GMT
… that thousands of idle oil wells across Illinois could … water supplies.
Illinois’s oil industry, which peaked in … plugging wells or transfer permits to avoid responsibility, leaving … on taxpayers. The Illinois Petroleum Resources Board declined to comment on …
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India needs nearly 2,000 Exploration Licenses in oil and gas to become energy secured says, Vedanta Group Chairman
09 Feb 2026 18:38 GMT
… billion barrels equivalent of hydrocarbon resources, "more than 30 … however, is large-scale exploration. "Exploration is the core of … are hardly 20 active licences in India when there … cases and taking away the licenses" deters global investors …
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Can You Sell Venezuelan-Origin Oil Now? Try Our Checklist and See!
09 Feb 2026 17:43 GMT
… Venezuelan-origin oil by established US entities. The general license specifically states … and modernize the drilling and production of Venezuelan crude oil as opposed … with the government of Venezuela, Petroleos de Venezuela, S.A., or …
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Exclusive-Increased Orinoco Belt output boosts Venezuela's oil production to 1 million bpd, sources say
09 Feb 2026 17:03 GMT
… had ordered at its own oilfields and joint ventures in … granted initial U.S. licenses last month to export and … Department also has issued general licenses in recent weeks broadly … by other authorizations for exploring and producing oil in the country, …
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Government Extends Oil and Gas Block Auction Deadline for Fourth Time
09 Feb 2026 16:38 GMT
… liberalised rules introduced after the Oilfields (Regulation and Development) Amendment Bill … royalty rates
*Concessions for early production
*No oil cess
*Full exploration rights for … with ONGC for a Gujarat offshore block
Bidders compete by offering …
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Curaçao Could Gain New Opportunities Under U.S. Oil License, But Legal Framework Is Complex
09 Feb 2026 16:22 GMT
… recent issuance of General License No. 46 (“GL … compliance conditions. This licence effectively allows transactions historically … authorise upstream activities like oil exploration or production. The … operation of Curaçao’s petroleum facilities, in cooperation …
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Oil Majors Did Not Inform the Ministry on PL104 Move
09 Feb 2026 15:55 GMT
… and Petrobas regarding their equity acquisition in the exploration licence, PEL … be communicated, which the two oil majors failed to do.
… portfolio and continue exploring the prolific resources of Namibia, in … the first to produce oil by the end of …
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Search for New Oil Reserves in Brazil Stalls, Marking a Decade of Stagnation
09 Feb 2026 15:19 GMT
… oil exploration, driven by lower international prices and difficulties in obtaining environmental licenses … drilling—has stalled since the 2014 crisis. Data from the National Petroleum … salt reserves, turning Brazil into a major exporter. Only three offshore …