OGV JOBS AAF EEC OGV
Latest news - International

Weekly oil and gas highlights

Weekly oil and gas highlights   Columbus Energy Resources PLC on Friday told investors it is now preparing to test the Saffron well in February. The Trinidad oiler, in a statement, told investors that it has now completed the Saffron well logging and initial results support the decision to proceed with the remainder of the well programme. It has now submitted a well test application...

Blockade slashes Libya's oil output to 320,000 bpd - NOC

Blockade slashes Libya's oil output to 320,000 bpd - NOC   Libya’s National Oil Corporation (NOC) said on Saturday that oil production had dropped to 320,154 barrels per day (bpd) by Jan. 23, from 1.2 million bpd before a week-long blockade that has shut down ports and fields in eastern and southern Libya. Financial losses caused by the blockade stood at $256.6 million as of Jan. 23, the NOC said in a statement. Source: Reuters

Total and Tullow launch joint sale of their stakes in Kenyan oil project

Total and Tullow launch joint sale of their stakes in Kenyan oil project   Total and Tullow Oil aim to reduce their stakes in Kenya’s first oil development with a joint sale that could see Tullow exit completely amid uncertainty over the project’s launch, banking and industry sources said. The two oil and gas producers have hired French bank Natixis to run the joint sale process for Blocks 10 BA, 10 BB and 13T in the South Lokichar Basin, the sources said. London-lis...

Oil falls below $62, heads for weekly loss on China virus concerns

Oil falls below $62, heads for weekly loss on China virus concerns   Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts. The virus has prompted the suspension of public transport in 10 Chinese cities. Health authorities fear the infection rate could accelerate over the Lunar New Year holiday this weekend, when millions of Chinese travel. Global benchma...

Semco Maritime to prepare West Bolsta rig prior to Norway deployment

Semco Maritime to prepare West Bolsta rig prior to Norway deployment   Semco Maritime has been awarded a contract by Seadrill Limited for preparation and modification of the West Bollsta prior to commencing her 10 well contract with Lundin Norway on the Norwegian Continental Shelf in 2Q20. The project will be executed at Semco Maritime’s yard at Hanøytangen outside Bergen starting mid-February 2020. “We are excited to secure such an important contract and cust...

Exxon Prepares Sale Of UK, German Oil & Gas Assets

Exxon Prepares Sale Of UK, German Oil & Gas Assets   As part of its global program to sell assets, ExxonMobil is about to launch a process to sell its upstream oil and gas operations in the UK and Germany, Bloomberg reported on Thursday, quoting people familiar with the plans.    The beginning of the sale process for Exxon’s UK assets is expected to be imminent, while the U.S. supermajor will start pitching its German assets to potential buyers after that, accor...

Fossil fuel plants key for integrity of solar and wind-based power generation

Fossil fuel plants key for integrity of solar and wind-based power generation   Existing fossil fuel power plants will play a pivotal role in enabling the full transition to a near-zero-carbon electricity system in many countries. How can such a surprising and perhaps counterintuitive conclusion be reached? The key word is intermittency, in reference to the wide fluctuations of energy supply associated with solar and wind. Even if these two sources are, to some degree, complementary (...

Total: Gas production on Azerbaijan's Absheron field to start in 2021

Total: Gas production on Azerbaijan's Absheron field to start in 2021   Azerbaijan's Minister of Energy Parviz Shahbazov received Total’s Executive Director for Azerbaijan Regis Agut, Trend reports on Jan. 22 referring to the Azerbaijani Ministry of Energy. The current situation related to the Absheron project implementation and the issues of cooperation with Total company in the field of renewable energy sources were discussed during the meeting. Shahbazov praised...

Mubadala Petroleum completes farmout deal with Premier Oil in Indonesia

Mubadala Petroleum completes farmout deal with Premier Oil in Indonesia   Mubadala Petroleum has completed a previously announced farmout of 20% stake each in the Andaman I and South Andaman gross split production sharing contracts (PSCs), offshore Indonesia to Premier Oil. The transaction, which was announced in July 2019, was completed after securing approvals from the Indonesian government. Financial terms of the deal were not disclosed. Mubadala Petroleum continues to be...

In a first, Brazil produces more than one billion barrels of oil in 2019

In a first, Brazil produces more than one billion barrels of oil in 2019   Brazil produced 1.018 billion barrels of oil in 2019, marking the first time the South American nation passed the billion-barrel mark for annual production, the national oil regulator said on Wednesday. In a statement, the regulator, known as the ANP, said 2019 output increased 7.78% over the previous year. Brazil produced 3.106 million barrels per day of oil in December, up 0.52% from the previous month and...

ONGC gets 28 bids for 50 oil, gas fields in 1st bid round

ONGC gets 28 bids for 50 oil, gas fields in 1st bid round   India's State-owned ONGC has received bids for 50 out of the 64 small and marginal oil and gas fields it has offered in a first of its kind bid round for raising production by involving private companies. As many as 12 companies made 28 bids for 50 fields at the close of bidding on January 17, sources privy to the development said. ONGC had clubbed the 64 fields into 17 onshore contract areas that have a cumulative 3...

Valaris and Saudi Aramco JV orders newbuild jack-up rigs

Valaris and Saudi Aramco JV orders newbuild jack-up rigs   ARO Drilling, a 50:50 joint venture (JV) between offshore drilling contractor Valaris and state-owned oil firm Saudi Aramco, has ordered two newbuild jackup rigs. The JV has placed the order with International Maritime Industries (IMI). According to Valaris, each new build will cost approximately $175m. They will constructed to the specifications laid out by Saudi Aramco. Valaris said: “Upon delivery, each rig i...

Libya oil output set to collapse to lowest level since fall of Gaddafi

Libya oil output set to collapse to lowest level since fall of Gaddafi   Libya’s oil output will collapse “within days” to the lowest level since the 2011 civil war as a blockade of its export terminals has forced a rapid shutdown of production and electricity blackouts in parts of the country, according to the head of the national oil company. Mustafa Sanalla, chairman of the National Oil Corporation, said the country’s output had already plummeted from 1.3...

ExxonMobil Fuels incurs highest crude oil refinery maintenance globally in 2019, says GlobalData

ExxonMobil Fuels incurs highest crude oil refinery maintenance globally in 2019, says GlobalData   ExxonMobil Fuels and Lubricants Co (ExxonMobil Fuels) had the highest crude oil refinery capacity under maintenance (both planned and unplanned) among all the refinery operators globally in 2019, according to GlobalData, a leading data and analytics company. The operator had a total refining capacity of 1.7 million barrels per day (mmbd) under both planned and unplanned maintenance in...

Engineering Firm McDermott to File for Bankruptcy

Engineering Firm McDermott to File for Bankruptcy   McDermott International Inc. said that it will file for chapter 11 protection Tuesday, after succumbing to depressed conditions in the offshore drilling industry and setbacks in major energy projects. The engineering firm said it has reached an agreement with more than two-thirds of its creditors in a restructuring transaction that would eliminate more than $4.6 billion in debt. McDermott has obtained commitments for a $2.81 bi...

BP “Pulls Out” of Kirkuk Oilfield

 BP “Pulls Out” of Kirkuk Oilfield   BP has reportedly finished its work at Iraq’s giant Kirkuk oilfield. According to Reuters, sources confirmed that the decision followed the expiration of its $100-million exploration contract at the end of December, at which point there was no agreement on the field’s expansion. It quotes a source at BP as saying: “In 2013, BP signed a letter of intent (LOI) with the North Oil Company of the Iraq Ministry...

Sheer volume of data being created by oil and gas companies driving adoption of big data, says GlobalData

Sheer volume of data being created by oil and gas companies driving adoption of big data, says GlobalData   Oil and gas assets are increasingly fitted with a multitude of Internet of Things (IoT) sensors, causing exponential growth in data. This, in turn, is increasing the need for adoption of data management solutions for improved operational visibility. This approach also helps identify bottlenecks in operations and uncover patterns and relationships across diverse entities, says Gl...

Offshore exploration and production licence in Angola awarded to Eni

Offshore exploration and production licence in Angola awarded to Eni   ANPG, state concessionaire for oil and gas rights in Angola, has assigned Block 28 to Eni (as operator with 60%), as a result of the international Competitive Bid Round 2019. The licence is located in deep water in the unexplored Namibe Basin. The joint venture (JV) will include Sonangol P&P (20% of share), while the remaining 20% will be assigned to a third partner during the closing of the contract. The...

Oil Rises on Libyan, Iraqi Supply Disruption

Oil Rises on Libyan, Iraqi Supply Disruption   Oil prices rallied Monday as a rebel group in Libya blocked a significant portion of the North African country’s crude exports, forcing production cuts. Brent crude, the global benchmark for oil, advanced as much at 1.3% to $65.72 a barrel, the highest since mid-December, before giving up some gains and trading up 0.4%. The state-run National Oil Corp. said over the weekend that the Libyan National Army, a militia led by reneg...

2020 budget spells more bad news for companies in Kuwait, says GlobalData

2020 budget spells more bad news for companies in Kuwait, says GlobalData   Following news that low oil prices will see Kuwait’s budget deficit widening in 2020; Richard Thompson, Editorial Director at GlobalData, a leading data and analytics company provides his view: “Kuwait is an extremely wealthy, oil-rich country with huge investment requirements. However, for many companies in Kuwait, the market over the past few years has been characterised by its failure to i...
ecotech
FUTURA