Offshore Energy News - page 686

 

UK Awards First Carbon Capture Storage License

Dec 07, 2018

The U.K. Oil and Gas Authority (OGA) announced Thursday it has awarded its first carbon dioxide (CO2) appraisal and storage license as an independent regulator.The award has been made to Pale Blue Dot Energy (Acorn) Ltd (PBD) for the Acorn Carbon Capture and Storage (CCS) Project…

Spirit Energy Takes Over as Babbage Operator

Dec 07, 2018

Spirit Energy confirmed on Friday it it has taken over operatorship of the Babbage gas field in the U.K. North Sea, where it holds a 13 percent interest.The Europe-focused oil and gas operator has also taken on operatorship of the nearby Cobra licence…

Petrobras' Next CEO Already Working Inside Company

Dec 07, 2018

Petroleo Brasileiro SA's next CEO is already working within the Brazilian state-controlled oil firm and is talking with employees about business plans, four sources told Reuters.Roberto Castello Branco, named by president-elect Jair Bolsonaro's economic team to take the helm at Petrobras…

Chevron Will Boost Capital Spending in 2019

Dec 07, 2018

Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S. oil producer said on Thursday in a statement, its first increase in four years.Its 2019 capital spending budget is at the high end of…

Crude Inventory Growth Reverses

Dec 07, 2018

U.S. crude inventory declined last week. The latest weekly survey results by the U.S. Energy Information Administration (EIA) indicate a fall of 7.3 million barrels in the week ended November 30. This follows a 10-week streak of crude inventory…

Goliat Field Vessel Switches to Battery Power

Dec 06, 2018

Norwegian subsidiary of Italian oil company Eni Norge AS and Stavanger shipping company Simon Møkster Shipping cut fuel consumption on the vessel Stril Barents in the Goliat field.According to a press release from the Norwegean offshore vessel owner…

Revisions to Petrobras' Investment Plan Likely

Dec 06, 2018

Brazil's right-wing President-elect Jair Bolsonaro is likely to revise the just-announced investment plans of state-controlled oil company Petroleo Brasileiro SA, newspaper O Estado de S. Paulo reported on Thursday, citing an unnamed source…

Neptune Presents Cara Development Plan

Dec 06, 2018

Neptune Energy and its partners in the North Sea Cara oil and gas discovery have presented preliminary development plans to Norway's energy ministry, the company said on Thursday.'The licence partnership will now progress its technical and economic…

OPEC Agrees Oil Output Cut, No Final Figure Yet

Dec 06, 2018

OPEC agreed on Thursday a tentative deal to cut oil output but has not yet come up with a final figure, an OPEC delegate said.Saudi Energy Minister Khalid al-Falih said earlier that the Organization of the Petroleum Exporting Countries needed non-OPEC Russia to come on board with cuts…

Apache Achieves First Oil at Garten

Dec 05, 2018

Apache Corporation announced it has begun producing from its Garten development on Block 9/18a Area-W in the U.K. sector of the North Sea, ahead of the initial target of first-quarter 2019. The discovery well, which is located 6 kilometers south of the Beryl Alpha Platform…

Petrobras to Boost Deepwater Spending

Dec 05, 2018

Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.Petrobras intends to make $84…

Prelude FLNG to Start Producing at End-2018

Dec 04, 2018

Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday.'We continue to progress Prelude towards operations, with safety and quality being our main focus…

Equinor to Start Talks With Tanzania Over LNG project

Dec 04, 2018

Norway's Equinor is ready to start talks with Tanzania on developing a liquefied natural gas (LNG) project based on a deepwater offshore discovery, the company said on Tuesday.Tanzanian President John Magufuli has asked his government to proceed…

Murphy Oil Closes Gulf of Mexico JV

Dec 04, 2018

Murphy Oil Corporation announced  that it has closed its previously announced deal to form a Gulf of Mexico joint venture with Petrobras.The global independent oil and natural gas exploration and production company said in a press release that its wholly owned subsidiary…

Hess Made 10th Discovery at Stabroek Offshore

Dec 04, 2018

American global independent energy company Hess Corporation announced a tenth discovery offshore Guyana at the Pluma-1 well on the Stabroek Block.The company engaged in the exploration and production of crude oil and natural gas said that as…

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