Home oil

Category: oil

Post
OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway. They still committed to meeting in March to decide on future production policies. OPEC set to further lose market share in 2020. Brent gives up all gains made after Iranian general killed. Angolan output posts...

Post
ADNOC, Pertamina ink partnership for Indonesian infrastructure and LNG supply

ADNOC, Pertamina ink partnership for Indonesian infrastructure and LNG supply

Pertamina and ADNOC signed a Memorandum of Understanding (MoU). Company discuss critical issues facing the energy sector in a world that needs more energy but demands fewer emissions. Company announced a significant investment to upgrade its giant Bab onshore field. It explore potential development of a crude to petrochemicals complex in Balongan. Company announced its...

Post
Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft and ICS Holding have set up a joint venture to develop digital products for the oil and gas industry. Pursuant to the Protocol of December 20, 2019, Gazprom, Naftogaz of Ukraine, Gas Transmission System Operator of Ukraine. The Federal Agency for Mineral Resources approved the expert opinion. The development strategy for the new...

Post
Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK, and NEO Energy. Company announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO). Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of...

Post
TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS announced the purchase of all U.S. onshore petrophysical log database and associated intellectual property from Petrophysical Solutions, Inc. TGS announced the completion of a new multibeam and coring program covering over 213,0000 square kilometers. The Liberia Petroleum Regulatory Authority (LPRA) has announced the launch of the next licensing round, expected to commence in April...

Post
BP reshapes its UK North Sea portfolio with $625 million asset sale

BP reshapes its UK North Sea portfolio with $625 million asset sale

BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea. New cross-industry consortium to make enhanced recycling of polyester plastics a commercial reality. BP announced that its recent three-well drilling campaign offshore Mauritania. Company has also non-operating interest in the Shearwater field. BP and Reliance Industries Limited...

Post
OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC’s output declined last month as several Persian Gulf producers. OPEC+ will adjust its output target and redistribute production cuts. The implementation of cutbacks aimed at balancing global oil markets. Oil production in the US has continued to expand. The energy ministers of Saudi Arabia and Russia called on all producers. It have been hearing...

Post
Russia’s energy minister says OPEC+ cuts can’t last forever

Russia’s energy minister says OPEC+ cuts can’t last forever

OPEC+ output cuts have stabilized the global oil market but can’t last forever. OPEC+ will adjust its output target and redistribute production cuts between its members under pressure. Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels a day. The uncertainty persists over the...

Post
Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

Energy sector activity dipped again in the fourth quarter, according to executives responding to the Federal Reserve Bank of Dallas Energy Survey. The Federal Reserve Bank of Dallas has appointed Von Washington to its El Paso Branch board of directors. The Federal Reserve Board of Governors has appointed Claudia Aguirre of Houston to the Federal...

Post
TGS completes new multibeam and coring program in Brazil’s Campos and Santos basins

TGS completes new multibeam and coring program in Brazil’s Campos and Santos basins

TGS announced the completion of a new multibeam and coring program covering over 213,0000 square kilometers in the Campos. TGS announced that it has completed a transaction to purchase over 800 square miles of onshore 3D seismic surveys. TGS, in partnership with AustinBridgeporth, has been granted exclusive rights to acquire the world’s highest resolution gravity...