The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.Shaken by a sharp drop in oil prices in recent months…
Independent global completions service company Tendeka said it has launched a new technology that increases oil recovery by improving injected water conformance in fractured reservoirs or by ensuring effective placement of matrix stimulation acids…
British oilfield services company Hunting Plc expects oil and gas producers to defer some projects as a recent decline in crude prices could hit their short-term budgets, it said on Monday.Oilfield service companies, including U.S.-based Schlumberger…
Production from the Aasta Hansteen gas field in the Norwegian Sea began Sunday, opening a new region for gas export to Europe, Norway's Equinor announced Monday.The Aasta Hansteen field, named after the Norwegian feminist, social commentator…
Africa focussed Australian oil and gas FAR Limited has begun front-end engineering design (FEED) activities for phase-one development of its SNE oil field offshore Senegal.The FEED will aim to finalise budget, schedule and technical definition…
Norway's Petroleum Safety Authority has given Equinor the green light to extend the operation of the Norne floating production storage and offloading vessel (FPSO) and associated facilities until the end of 2036.'The consent has been granted…
For carbon capture and storage (CCS) to make a meaningful contribution towards decarbonizing our energy system, it needs to start with a bang, not a whimper₁. Scale projects are needed now if CCS is to stand any chance of benefiting from the…
Suncor Energy Inc, Canada's second-largest energy producer, said on Friday it expects average upstream production to rise 10 percent in 2019, even after implementing Alberta's mandated output cuts.Alberta has mandated temporary output cuts of 325…
UK-based oil and gas exploration firm i3 Energy PLC said its Serenity prospect in the North Sea 'provides significant organic growth' for its Liberator development.The company estimates that Serenity contains P50 stock tank oil-initially-in-place of 197mln stock tank barrels…
U.S. crude inventory declined again last week, reducing fear of a repeat 2014/16 oil glut occurring. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates a small inventory fall of 1.2 million barrels in the week ended December 7…
U.S. producer Hess Corp said on Wednesday it expects oil and gas output to grow more than 10 percent a year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.The company projects higher…
Norway's DNO is sticking to its offer to buy Faroe Petroleum for 152 pence per share, valuing the company at about 610 million pounds ($761.65 million), insisting it is an attractive offer despite its rejection by the Faroe board.The Faroe board…
CNOOC Gas & Power, a unit of China National Offshore Oil Corp , said on Wednesday its daily supply of natural gas had surpassed 200 million cubic meters for the first time as temperatures in northern China plummet.CNOOC sent 205 million cubic meters of gas to the Chinese market on Dec…
The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday.Guardia declined to disclose values nor who is owed what under the terms of the agreement…
Energy giant Chevron announced Tuesday it has received approval from the U.K. Oil and Gas Authority (OGA) to move ahead with its plans for an Enhanced Oil Recovery (EOR) project that aims to unlock millions of extra barrels of oil and extend the life of the long-producing Captain field in the U…