Production News


Angola: Sonangol to Accelerate Asset Sales, Reform Despite COVID-19

Dec 03, 2020

Angola’s state oil giant Sonangol will next year accelerate reforms and efforts to raise revenue after the pandemic drained investor interest in an asset sale that has so far netted only around $60 million, its CEO told Reuters in a rare interview…

OPEC+ Moves Closer to Compromise on 2021 Oil Policy

Dec 03, 2020

OPEC and Russia have moved closer to a compromise over oil supply policy for 2021 after talks earlier this week failed to yield a decision on how to tackle weak oil demand amid a second coronavirus wave, OPEC+ sources told Reuters.The Organization of the Petroleum Exporting Countries…

Old Wells Could Generate Geothermal Energy to Power Offshore Platforms

Dec 03, 2020

Old offshore oil wells could be turned into geothermal energy producers under a plan by a new consortium.The group, The Aquarius North Sea Geothermal Consortium, is “actively” working with North Sea operators to see if old wells could be used to generate geothermal energy for existing platforms…

Australia: Triangle Energy Restarts Oil Output from Cliff Head Field Well

Dec 02, 2020

Australian oil company Triangle Energy has restarted production from its CH-7 well at the Cliff Head offshore oil field in the Perth Basin, Australia.The company in October said it had begun operations to bring back online two wells at the Cliff head offshore field…

Oil Prices Edge Down as OPEC and Allies Seek Consensus on Output

Dec 01, 2020

Oil prices inched down on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January.Brent crude was down 19 cents at $47.69 a barrel by 1430 GMT and West Texas Intermediate was down 36 cents at $44…

Environmental Activists Take Shell to Court. Seek End to Emissions

Dec 01, 2020

Environmental activists took Royal Dutch Shell to court on Tuesday, as they demand the energy firm drastically reduces the production of oil and gas to limit its effects on climate change.Seven activist groups, including Greenpeace and Friends of the Earth Netherlands…

Energy Ministry: Norway's Oil Output Cuts End on Dec. 31

Dec 01, 2020

Norway's oil output curbs, in place since June, are set to end on Dec. 31, the Ministry of Petroleum and Energy said on Tuesday.'The Norwegian regulation will expire at the end of the year,' the ministry said in a statement.Following a sharp…

U.S. Crude Oil Production Rose to 10.86 Million bpd in September

Dec 01, 2020

U.S. crude oil production rose 286,000 barrels per day in September to 10.86 million bpd, as production increased in North Dakota and in offshore waters in the U.S. Gulf of Mexico.Oil production rose 61,000 bpd in North Dakota and 315,000 bpd in the offshore Gulf of Mexico…

Exxon Takes $20B Writedown. Puts Focus on Brazil, Guyana, Permian

Dec 01, 2020

Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest-ever impairment, and slash project spending next year to its lowest level in 15 years.The oil major is reeling…

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

Nov 30, 2020

The UK North Sea energy jobs count will drop by at least 20 percent in the coming years without urgent investment in the clean technologies needed to create a net-zero offshore energy system, a report by OGTC and Offshore Renewable Energy Catapult shows…

Reuters: OPEC Oil Output Rises for Fifth Month, as Libyan Production Offsets Cuts

Nov 30, 2020

OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC-led supply deal.The 13-member Organization of the Petroleum Exporting Countries has pumped 25…

OPEC+ to Hold Informal Online Talks Ahead of Next Week's Meetings

Nov 27, 2020

OPEC+, a group of leading oil-producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a source with the knowledge of the matter said.OPEC+ is debating whether to ease oil output cuts from Jan…

DNV GL Suspends Nord Stream 2 Pipeline Work for Fear of U.S. Sanctions

Nov 26, 2020

Norway's risk management and quality assurance firm DNV GL has suspended work on the Nord Stream 2 gas pipeline project led by Russia's Gazprom for fear of being sanctioned by the United States, it said on Thursday.Nord Stream 2 runs alongside…

BP, Ithaca Energy Bring Online Vorlich Offshore Field

Nov 26, 2020

Oil major BP and Ithaca Energy have started production from the Vorlich offshore oil field in the North Sea.The 30-million-barrel field has been developed through two wells with peak production expected to reach 20,000 barrels of oil equivalent gross per day…

Report: ExxonMobil, Total in Talks Over Mozambique Gas Resource-sharing Deal

Nov 26, 2020

ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, three sources familiar with the matter told Reuters…

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