oil extraction

U.S. billionaire's firm wins 30-billion-barrel Venezuela field

Continental Resources, the company founded by billionaire and shale-oil pioneer Harold Hamm, has agreed to explore for oil in Venezuela amid the Trump administration's calls for U.S. companies to help revive the country's oil sector, Bloomberg reported on Sept. 16.

17 September, 03:10 PM

Norway opens Johan Castberg, northernmost oil field

Norwegian Energy Minister Terje Aasland officially opened the Johan Castberg oil field, the country’s northernmost oil field, located in the Barents Sea, according to the statement from Equinor, the field’s operator, on Aug. 8.

11 August 2025, 01:45 PM

Russia drills deeper into Egypt: Lukoil secures new oil deal west of Suez

Egypt’s government and Russia’s Lukoil have reached an agreement granting the Russian oil company the rights to develop the South Wadi El-Sahl concession west of the Suez Gulf, Ahdath Al-Arab reported on Feb. 10, citing its sources.

11 February 2025, 11:35 AM

oil extraction