US crude inventory now 6% above the five year average – Brent crude price down 17% over past 10 daysRecent government data indicate a US crude inventory surplus has been forming. The latest EIA survey shows 483 million bbls in inventory as of…
Hurricane Energy has announced first oil at its Lancaster field off Scotland, the first such success for so-called fractured basement reservoirs in Britain and a major milestone for the company within its guided schedule.Hurricane specializes…
US-based Murphy Oil Corporation announced that its has completed its $1.227 billion acquisition of deepwater Gulf of Mexico assets from compatriot oil and gas company LLOG.Murphy Oil President and CEO, Roger W. Jenkins, said, “We are excited…
Norwegian oil workers struck a wage deal with employers on Tuesday, averting the outbreak of a strike that would have cut production by 440,000 barrels of oil equivalents per day (boed), the Norwegian Oil and Gas Association (NOG) announced…
French energy group Total will start up the Culzean field in the British North Sea within days, the group's UK Exploration and Production Chief Jean-Luc Guiziou said on Tuesday, shortening the timeline for the project.Culzean, part of Total's acquisition of Maersk's oil and gas portfolio…
Equinor and its partners expect to reach a final investment decision (FID) for Rosebank, one of the largest undeveloped oil and gas fields on the UK continental shelf, by May 2022, the Norwegian major said on Tuesday.The Rosebank field was discovered…
Italian oil and gas company Eni has made the fifth oil discovery in one year in Block 15/06, through the Agidigbo-1 NFW well in Angola's deep offshore.It follows the discoveries of Kalimba, Afoxé, Agogo and Ndungu. The five discoveries altogether are estimated to contain up to 1…
Schlumberger on Monday introduced a new digital exploration platform designed to help exploration teams to rapidly discover and access basin-scale data and manage exploration opportunities.The GAIA platform uses the power of the DELFI E&P cognitive…
UK based oilfield services company Expro said it has been awarded a multimillion dollar contract for Hindustan Oil Exploration Company Ltd (HOEC) in Mumbai, India.The seven-year contract will include the build, maintenance and operation of a…
Israel's Delek Drilling hopes to begin commercial sales of natural gas to Egypt by the end of the month, a senior company executive said on Sunday.Delek Drilling and its partner Noble Energy signed a landmark deal early last year to export $15…
Norway's oil and gas output could be cut by about 440,000 barrels of oil equivalents per day, or about 11% of total production, if workers go on strike from June 4, industry association Norwegian Oil and Gas (NOG) said on Monday.A government…
Oil production in the US Gulf of Mexico (GoM) is poised to set new records in the imminent future, said Rystad Energy.Royal Dutch Shell started producing oil and gas this month at its Appomattox platform in the deepwater GoM several months ahead of its expected startup in 3Q 2019…
IBM’s The Weather Company has predicted a slight decrease in the 2019 Atlantic hurricane season compared to 2018, but el Niño’s delayed advance could increase this year’s storm potential.The Atlantic hurricane season starts June 1 and runs through November 30…
French oil firm Total plans to start production at Azerbaijan's Absheron gas field in the Caspian Sea in 2021 after getting positive results from the drilling of a first well, a senior company official told Reuters.The decision to start production at the field…
Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…