Libra confirms extension of Petrobras find in presalt block

Petroleo Brasileiro SA (Petrobras) confirmed the discovery of “good-quality” oil in reservoirs showing “excellent productivity” via its 3-BRSA-1305A-RJS well, also known as 3-RJS-739A, in the northwestern portion of the Libra block in the presalt Santos basin. Source: News

Framework agreement inked for Horn of Africa multiproduct fuel line

Partners have signed a framework agreement for the construction of a 550-km, 240,000-b/d pipeline that will transport jet fuel, diesel, and gasoline from the port of Djibouti on the Gulf of Aden to storage facilities in Awash, near the capital city of Addis Ababa in central Ethiopia. Source: News

ONGC, Essar make gas find at shallower depths offshore Mumbai

Essar Energy Ltd. reported the discovery of natural gas in the Pliocene formation offshore India’s west coast. Essar’s consortium partner, Oil & Natural Gas Corp. Ltd., is operator and has 70% interest. Source: News

Watching Government: Ohio's earthquake response

More than 4 years after a light earthquake in Youngstown made national headlines, Ohio regulators believe they are getting induced seismicity from oil and gas waste disposal wells under control. Source: News

Russia's economy is surviving global oil price plunge, forum told

Russia’s general economy is withstanding depressed global crude oil prices now despite its heavy reliance on crude exports because the government adopted different financial policies in 2008, a Yale University International Security Studies official told a Washington, DC, audience. Source: News

OGUK: Investment in North Sea projects plunges 90% in 2016

Sparking fears for the long-term future of the industry, the UK upstream segment is expected to approve fewer than £1 billion in spending on new North Sea projects compared with an average of £8 billion/year over the past 5 years, according to Oil & Gas UK’s 2016 Activity Survey published Feb. 23. Source: News