After a disappointing well-drilling venture offshore Namibia in the fourth quarter of 2018, Guernsey-registered hydrocarbons exploration and production company Chariot Oil & Gas has no immediate plans for additional exploration wells in this driest country in Sub-Saharan Africa…
Norway's oil output fell by 10.1% year-on-year in August to 1.353 million barrels of oil equivalents per day, lagging official forecast by 4%, the country's Petroleum Directorate (NPD) said on Tuesday.Daily natural gas output fell by 19.8% from the year before…
Subsea equipment and SURF– subsea, umbilicals, risers, and flowlines – are the best-performing segments, with growth rates exceeding 10% on a yearly basis in the second quarter of 2019.Rystad Energy announced that the subsea market is definitely on the rise in the oilfield service sector…
Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from the world's largest crude exporter.Prices initially…
ExxonMobil has made an oil discovery in the the closely watched Stabroek block offshore Guyana, the supermajor announced on Monday.The discovery in the Tripletail-1 well in the Turbot area adds to the previously announced estimated recoverable…
Tullow Oil announced it has made a second oil discovery on the Orinduik block, opening a new Upper Tertiary oil play in the Guyana offshore basin.The Joe-1 exploration well was drilled by the Stena Forth drillship to a total depth of 2,175 meters in 780 meters water depth…
Engineering consultancy Crondall Energy said it has been awarded a contract by Pharis Energy to deliver a concept select study for the operator’s heavy oil Pilot field development in the Central North Sea.According to a statement issued today by Crondall Energy…
Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…
Gazprom Neft, the oil arm of Russian gas giant Gazprom, said on Wednesday it had resumed oil production at the Prirazlomnoye offshore Arctic field on September 7 after planned maintenance.The Prirazlomnoye field was halted on August 8 for maintenance…
Output from the Equinor-operated Johan Sverdrup oil field in the North Sea will rise to 660,000 barrels per day (bpd) by 2022, from 440,000 bpd by early 2020, a company executive said on Monday.Output from the field will start up in October…
The Mexican government has said in its 2020 budget proposal that it will maintain a strategy of hedging its oil output against lower prices.Mexico’s state oil company Pemex will also continue a similar but separate hedging program. Mexico’s…
Thirty-three oil companies submitted bids for exploration blocks offshore Norway in a so-called predefined areas (APA) licensing round, the Ministry of Oil and Energy said on Wednesday.This year's round comprised 48 blocks in the Arctic Barents Sea…
French energy producer Total could invest up to $10 billion in the North Sea over the next five years but cost discipline must be maintained as a matter of urgency, Chief Executive Officer Patrick Pouyanne said on Tuesday.As part of its efforts…
Brazilian oil production increased to 2.77 million barrels per day (bpd) on average in July, up 7% from a year earlier, local oil and fuels regulator ANP said on Monday.Natural gas production also increased by 7% in July from the same month last year to 124 million cubic meters…
Brazil's state-run oil company, Petroleo Brasileiro SA, announced the binding phase of the sale of its 11 oil fields in shallow waters of the Santos basin and collectively known as Polo Garoupa.Petrobras said in a securities filing that oil fields called Anequim…