 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 by Daniel J. Graeber Washington DC (UPI) Apr 02, 2018
The government of Bahrain said it made the largest discovery of oil ever made since the exploration in the kingdom started in the 1930s. Bahraini Oil Minister Mohamed bin Khalifa al-Khalifa said a "substantial" oil and natural gas discovery was made off the nation's west coast. "The find represents the largest discovery of oil in the Kingdom since 1932, when extraction started on Bahrain's first oil well within the Bahrain oil field," the government said through its official news agency. "The new resource is forecast to contain highly significant quantities of tight oil and deep gas, understood to dwarf Bahrain's current reserves." According to the CIA World Factbook, Bahrain holds 124.6 million barrels of oil reserves, which ranks 27th in the world. First oil from the Bahrain oil field came in 1932 at a rate of 9,500 barrels of oil per day. At its peak in 1970, capacity was around 79,000 bpd. Total production from Bahrain, which isn't a member of the Organization of Petroleum Exporting Countries, is around 200,000 bpd. Output from the Bahrain oil field started to decline about a decade ago and most of the offshore oil comes from the Abu Saafa field, which yields around 150,000 bpd. Bahrain is nonetheless party to the OPEC-led effort to balance an oversupplied market with voluntary production cuts. Apart from oil, Bahrain has ambitions to become a major exporter of liquefied natural gas. In 2016, it signed a memorandum of understanding with Russian gas company Gazprom to review LNG opportunities. The government said in its announcement that a press conference is set for Wednesday to discuss details of the latest find offshore.
Libyan strongman bombed Chad rebels, his forces say Libreville (AFP) March 29, 2018 The armed forces of Libyan strongman Khalifa Haftar said on Thursday that their warplanes had attacked Chadian rebels in the country's southern desert last weekend. Air raids targeted a rebel-held roadblock 400 kilometres (250 miles) southeast of Sebha, as well as other positions in an oasis in the Terbu region 400 kms farther south, an official with Haftar's so-called Libyan National Army (LNA) told AFP. "The strikes aim at restoring security and applying law in the south," the official said, w ... read more
|
|||||||||||||
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |
del.icio.us
Digg
Reddit
Google
