Crude Oil News

 

Siccar Point Applies for Cambo Field Development Consent

Jun 07, 2021

UK-focused oil and gas company Siccar Point Energy has made an application for consent to the Oil and Gas Authority for an environmental statement for the Cambo field development located near the UK/Faroe Island transboundary line.The Cambo…

ExxonMobil Restarting Ops in Canje Block, Offshore Guyana with Jabillo-1 Well Spud

Jun 07, 2021

U.S. oil major ExxonMobil is resuming operations at the Canje Block offshore Guyana with the drilling of the billion-barrel prospect Jabillo-1, using the Stena Carron Drillship.The news was shared by Westmount Energy, a company that owns a stake in one of ExxonMobil's Canje block partners…

KrisEnergy Files for Liquidation as Apsara Field Fails to Deliver

Jun 04, 2021

KrisEnergy, an oil and gas company focused on Southeast Asia, said Friday it had filed a winding-up petition and that it would proceed to liquidation due to its inability to pay debts.KrisEnergy warned about this outcome back on March 31 when it said that the production from the Apsara field…

Using Smart Data for a More Sustainable Offshore Industry

Jun 04, 2021

To thrive in the long term, the offshore industry must turn its attention to extracting—and making the most of—another key resource: data. This will help companies stay afloat in an increasingly challenging economic context and enable them to play their part in the energy transition…

Transformative Deal: Hibiscus to Pay $212.5M for Repsol's Offshore Blocks in Vietnam and Malaysia

Jun 04, 2021

Malaysian oil and gas company Hibiscus Petroleum has confirmed it has agreed to buy Repsol’s interest in oil and gas assets in Malaysia and Vietnam for $212.5 million.The announcement comes after Repsol earlier this week announced the sale to Hibiscus…

Talos Energy Says Gulf of Mexico Well Successful

Jun 04, 2021

U.S. oil company Talos Energy on Thursday said its drilling operation at the Gulf of Mexico Tornado 3 well was a success.The company said its Tornado 3 sidetrack well ('Tornado Attic' well) successfully discovered pay in-line with pre-drill expectations…

Oil Nears $72, Close to a Two-year High

Jun 04, 2021

Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe.The Organization of the Petroleum Exporting…

Oil Firms Challenge Fieldwood's Reorganization Plan

Jun 04, 2021

Several oil companies are challenging Fieldwood Energy’s proposed reorganization plan, saying it does not appropriately address its environmental obligations.The oil companies, which include Shell Offshore, BP Exploration & Production, ConocoPhillips Company and Marathon Oil Company…

Lukoil CEO Expects OPEC+ to Raise Oil Output

Jun 03, 2021

Vagit Alekperov, the head of Russia's second-largest oil company Lukoil, said on Thursday that he expects the group of leading oil producers, known as OPEC+, will decide to raise output at its meeting next month.In an interview with Reuters…

MODEC Confirms Bacalhau FPSO Order

Jun 03, 2021

Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development.The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday…

Lawsuit Challenges ExxonMobil's Exploration and Production Activities in Guyana

Jun 02, 2021

A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists…

Russia Wants to Make Sakhalin Island Carbon Neutral by 2025

Jun 02, 2021

Russia aims to make the fossil fuel-rich Pacific island of Sakhalin carbon neutral by 2025, and later to extend the ambition to its top oil production province in western Siberia, a deputy prime minister said.Along with the world's other leading…

Biden Allows Chevron, U.S. Oilfield Services Firms to Remain in Venezuela till Dec. 1

Jun 02, 2021

Chevron Corp, the last major U.S. oil company still operating in Venezuela, received a new U.S. government license allowing it to remain in Venezuela until Dec. 1, the Treasury Department said on Tuesday.The United States beginning in 2019 imposed…

IEA: Energy Investments to Recover by 10% in 2021, But will Fall Short of Net-Zero Path

Jun 02, 2021

Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals.More of the $1…

Nigeria Awards Marginal Oilfields

Jun 02, 2021

Nigeria has awarded the rights to develop marginal oilfields to 50% of the 161 firms shortlisted after they met all the conditions, the petroleum regulator said on Tuesday.Nigeria is looking to production from the fields to bolster state finances and increase local participation in the oil sector…

Current News

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C-Innovation Wraps Guyana Survey Remotely from U.S. HQ

Safety Watchdog Issues Order to KCA Deutag after Serious Injury on Askeladden Jack-up Rig

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