Irish Oil Basins May Sustain Local Demand

Ireland may be importing all of its oil requirements at the moment, but with six oil basins lined up for exploration and development, the country may soon wean itself from foreign oil dependence by at least 70 percent. This positive news was disclosed by Tony O’Reilly, Providence Resources CEO. He said that the country could become a significant oil and gas producer and that Providence aims to...
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China seeks influx of private, domestic oil investment

China’s energy sector is mostly comprised of government-owned firms. Of late, however, it is urging inflow of more investments from private domestic groups. Apparently, it’s a strategy to hasten oil exploration and power generation within the country The Ministry of Land and Resources disclosed that private firms will be urged to invest in oil exploration and natural gas projects within China,...
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New UAE pipeline will boost Arab oil flow amid Hormuz concerns

Abu Dhabi had earlier earmarked oil investment funds for building a pipeline system from its major oil hubs down to Fujairah in the Gulf of Oman. Recently, the project was successfully completed and some sectors say that Fujairah, one of the 7 states of United Arab Emirates (UAE), could turn out as an alternative passage for Arab crude oil exports in case Iran proceeds with its threat to close...
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China turns to the Americas for oil investment deals

China has added the Americas on its list of chief destinations while shopping for oil assets.  It is in for a shopping spree, looking for productive oil properties in the booming American region. Experts say that this insatiable appetite could be a boon for American consumers as China’s pursuit of oil assets may trigger growth in energy production, along with declining prices on a global scale....
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IBM helps grow oil investment through data management

IBM is very much aware of the ever-growing volume of oil and gas data that has flooded the oil industry, as a result the company has endeavored to help oil businesses cope with this problem by putting together 5,000 technical specialists stationed among the world’s oil-rich basins. IBM believes that widespread availability of huge data resources is a good things, but what is more important is...
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