Baron Oil News

 

Russia's 2018 Oil Output Tops Record

Jan 02, 2019

Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) last year on an annual average basis, data from its energy ministry showed on Wednesday.The total surpassed the previous annual record average of 10…

Corallian Spuds Wick Well

Dec 27, 2018

Private U.K. oil and gas exploration and appraisal company Corallian Energy reported that drilling of the Wick exploration well (11/24b-4) commenced on Tuesday offshore the U.K.Corallian is exploration operator for Licence P2235 with 40 percent interest…

Sonangol, ExxonMobil Ink Exploration Deal

Dec 14, 2018

Angola's state oil company Sonangol and ExxonMobil on Friday signed a memorandum of understanding for oil exploration in the country's Namibe basin, the two firms said.Angola, Africa's second-largest crude producer, is facing a steep output…

Malaysia Agrees to Extend Oil Output Cut

Dec 10, 2018

Malaysia will extend its oil production cuts by another six months after the agreement between OPEC and other oil producers to reduce global supply ends this year.OPEC and non-OPEC producers agreed at a meeting in Vienna on Friday to a new level of production cuts from January to June 2019…

Hibiscus Petroleum to Double Production

Sep 27, 2018

Malaysian oil and gas exploration and production company Hibiscus Petroleum is aiming to double its oil output in the United Kingdom and Malaysia to 20,000 barrels per day (bpd) by 2021, a senior company executive said on Thursday.It needs an…

Oman and Iran to Drive Growth for Oil Storage Industry

Sep 24, 2018

Oman and Iran will drive the majority of the growth in the oil storage industry in the Middle East between 2018 and 2022, contributing more oil storage capacity than any other country in the region, according to leading data and analytics company GlobalData…

Poland Cuts Dependence on Russian Oil but at a Cost

May 08, 2018

Poland's imports of Russian oil last year fell to their lowest level since 2005, a central bank report published on Tuesday showed, though Warsaw's bid to diversify its energy imports also meant paying higher prices.Russian oil accounted for 76 percent of all oil purchases…

Tullow adds acreage off Peru

Jan 10, 2018

Tullow Oil has picked up six licenses offshore Peru, spanning 28,000sq km, the UK-based firm confirmed today (10 January). Map of Peru blocks. Image from Tullow. Following negotiations with Perupetro…

Baron drops Peru offshore block

Nov 10, 2017

Baron Oil is to relinquish Block Z-34, which has been in Force Majeure since 2014, offshore Peru.  In such a situation, the Z-34 partners are entitled to exercise their right to relinquish Block Z-34 and to request that a $3.6 million work program guarantee bond be released…

Fanning the (E&P) flames

Mar 01, 2017

All eyes may be on Guyana, but there’s plenty of other countries worthy of attention in South America. Audrey Leon surveys the current spike in exploration activity in the region. Image from Anadarko Petroleum’s Q4 Operations Report…

Baron Oil to drill off Peru

Feb 07, 2017

PeruPetro, the responsible government agency, has granted independent oil and gas exploration and production company Baron Oil to drill the Cuy-Z34-13-1X exploration well offshore of northwest Peru in Block Z-34. The well is planned to be drilled in 5764ft of water to a total depth of 12…

Inpex extends UAE deals

Jan 16, 2017

Japan's Inpex Corp. has formed an agreement with Abu Dhabi National Oil Co. (ADNOC) to extend the joint development of the Satah and Umm Al Dalkh oil fields offshore Abu Dhabi in the United Arab Emirates. Inpex subsidiary Japan Oil Development…

Skipper well turns up heavy oil

Sep 30, 2016

Initial results from the Skipper appraisal well in the UK North Sea have shown oil 'significantly' heavier than expected, but in sands with higher permeability than thought. Operator and 100% owner Independent Oil and Gas says it will now review its development strategy for the field…

Premier makes heavy oil discovery on Bagpuss

Aug 05, 2016

Premier Oil's Bagpuss heavy oil exploration well on the Halibut Horst in the Outer Moray Firth, in the North Sea, has made a discovery, potentially opening a new play in the area. The 13/25-1 well, drilling using the Ocean Valiant semisubmersible drilling rig…

US holds more reserves than Saudi, Russia, says Rystad

Jul 04, 2016

A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the US now holds more recoverable oil reserves than both Saudi Arabia and Russia. For US, more than 50% of remaining oil reserves is unconventional shale oil…

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