Cosmo Oil News

 

Iranian Tanker Hit by Missiles, Oil Rises

Oct 11, 2019

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…

Japan JV Sells Frade Stake to PetroRio

Oct 03, 2019

Japan's Inpex Corp, Sojitz Corp and Japan Oil, Gas and Minerals National Corp (JOGMEC) said on Thursday they exited the Frade oil field in Brazil by selling their stakes to partner PetroRio S.A.The three entities, which owned an 18.3% stake in the oil field through a joint venture…

Rosneft Cuts Oil Output

Jul 09, 2019

Russia's largest oil producer Rosneft said on Tuesday its oil production had declined due to a decision by oil pipeline monopoly Transneft to reduce intake of oil due to a contaminated oil issue.It said Transneft had imposed a 'significant'…

US to Overtake Saudi in Oil Exports

Mar 08, 2019

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…

Lukoil Opposes Prolonged Global Oil Output Cuts

Jan 23, 2019

The global oil output cut should not be prolonged, the head of Russia's second biggest oil producer, Lukoil, said on Wednesday, Interfax news agency reported.Lukoil would have to cut its output by 30,000 barrels per day by April under the OPEC and non-OPEC oil deal…

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…

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…

Petrobras Exits several oil fields

Nov 28, 2018

Brazil's state-controlled oil company Petroleo Brasileiro SA said Wednesday it had signed agreements to cease participation in several oil fields in Brazil's northwest region.The company said it had reached a $370 million deal with Perenco to cease its operations in the Polo Nordeste…

Oil Majors Spending 'Sweet Spot' to Last to 2020

Nov 13, 2018

Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world's largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell…

British North Sea Oil Costs, Spending on the Rise

Oct 09, 2018

The costs and operating expenditure needed to produce oil and gas in the British North Sea are set to rise both in overall and in per-barrel terms this year compared with 2017, the country's regulator for the sector said on Tuesday.Overall operating…

Exxon Brazil to Focus on Drilling and Production

Sep 27, 2018

Exxon Mobil Corp will focus on drilling and production in Brazil now that it has made extensive acquisitions of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels…

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…

Petrobras Oil, Gas Output Falls in August

Sep 25, 2018

Brazil's state-run oil company Petroleo Brasileiro SA said its oil and gas production in August totaled 2.47 million barrels of oil equivalent per day, attributing the 5.1 percent decline from the previous month to closures for maintenance.Petrobras…

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…

Current News

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

UK Firm Seeks Suppliers to Bui

Brava Energia Inks $65M Deal with PetroReconcavo for Natural Gas Assets

Brava Energia Inks $65M Deal w

Record Offshore Wind Auction Required for UK to Meet Targets

Record Offshore Wind Auction R

First French Floating Wind Farm Fully Commissioned

First French Floating Wind Far

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine