The global oil market will likely tighten in the second half of 2023 after the recent decision by OPEC+ to cut oil production, Spencer Dale, BP plc's chief economist said on Tuesday.There is a scope for oil markets to tighten a little bit in case China's oil demand and its overall economy recovers…
Indonesia has put three oil and gas exploration blocks out for tender in its first bidding round of the year, with estimated resources of more than 2.4 billion barrel of oil and 9 trillion cubic feet of gas, its energy ministry said.Indonesia plans to offer 10 oil and gas working areas this year…
Windfall taxes mean oil and gas producers in the British North Sea will likely leave 500 million barrels of oil equivalent in the ground over the next decade, the equivalent of one year's output in the aging basin, industry group OEUK said on Tuesday…
Oil and gas company Valeura Energy said Monday that modifications to the MT Jaka Tarub crude oil storage vessel were complete, making the vessel compatible with infrastructure at its Wassana oil field, offshore Thailand.According to Valeura Energy…
Oil and gas company Valeura Energy has entered into a definitive agreement with PT Samudra Alam Transport to charter the MT Vula crude oil tanker to store oil produced from the Wassana oil field, offshore in the Gulf of Thailand.In Q2 2022,…
India is offering 26 oil and gas blocks and 16 coal bed methane blocks in its latest exploration licensing round, according to the country's upstream regulator, as the world's third largest oil consumer seeks to boost local output.'There is…
India introduced export duties for gasoil, gasoline and jet fuel on Friday to help boost domestic supplies, while also imposing a windfall tax on oil producers that have benefitted from higher global crude oil prices.The new taxes, announced in government orders…
The European Union has agreed to ban the bulk of imports of Russian crude and oil products in its latest round of sanctions following Moscow's invasion of Ukraine.The ban on seaborne crude imports will be phased in over six months and for seaborne refined products over eight months…
UK-based oilfield solutions company Oil Plus has said it has secured two produced water-related projects in Qatar worth $450,000 in total. Oil Plus will deliver a Pre-FEED oil and water analysis for Qatar Energy, and a water injection study…
Norwegian state oil company Equinor said on Monday it will stop trading in Russian oil as the company shuts down operations in Russia following its invasion of Ukraine.Equinor's official announcement comes four days after Equinor's chief executive…
Eni Vietnam B.V., a unit of Italian energy group Eni, is expected to start drilling at the Dan Tranh-1X well in Vietnam's offshore oil block 115/09 from late this month, state oil firm PetroVietnam said on Tuesday.PetroVietnam will invite Essar…
On April 20, 2010, the offshore oil rig Deepwater Horizon exploded, burned, sank in the Gulf of Mexico and terrified the world. This horrific accident — recorded as the largest oil spill in history — killed 11 workers and released 210 million gallons of crude oil into the ocean…
Indonesia's oil lifting, or ready-to-sell production, narrowly missed its target and fell for a fifth straight year in 2021, after a failure to tap new sources and as older fields matured, energy minister Arifin Tasrif said on Wednesday.The Southeast Asian country's oil lifting came in at 660…
Masirah Oil, a 91.81 percent subsidiary of Rex International, said Monday that gross oil output from the Yumna Field in offshore Block 50 Oman, in December 2021 amounted to 8,440 stock tank barrels per day (stb/d).'Production was choked back…
