Offshore Energy News

 

Norway Ready to Claim Share of Russia's Arctic Finds

Jan 10, 2019

Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday.Norway and Russia in 2010 agreed a maritime border in the Barents Sea…

Setback for Ophir Energy in Equatorial Guinea

Jan 10, 2019

London-listed Ophir Energy has suffered a major setback on its offshore investment plan in Equatorial Guinea after the country's Ministry of Mines and Hydriocarbons (MMH) declined the company's request to extend Block R licence that expired on December 31…

Norway 2019 Oil Output Forecast Cut to 30-year Low

Jan 10, 2019

Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years, the country's oil industry regulator said on Thursday.Investment in Western Europe's…

German North Sea Wind Capacity Up 12.7%

Jan 10, 2019

Offshore wind power operators in the German North Sea raised generation capacity by 12.7 percent to 6,232 megawatts (MW) last year, nearing a government target of 6,500 MW national offshore capacity by 2020, grid company TenneT GmbH said on Thursday…

Petrobras Selling $803 Mln in Local Debt

Jan 08, 2019

Petroleo Brasileiro SA is selling up to three series of local unsecured bonds to raise 3 billion reais ($803 million), the Brazilian state-run oil firm said in a securities filing on Tuesday.The debt will mature in 7 to 10 years, depending on the series…

Norway Oil Investment to Rise in 2019

Jan 07, 2019

Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Monday.Western Europe's largest oil producer has seen a recovery in oil industry activity thanks to higher crude prices…

Jadestone Energy to Restart Montara Production

Jan 06, 2019

Asia Pacific upstream oil and gas development and production company has announced the completion of works required to resume production from the Montara oil field. This restart follows an extensive maintenance and inspection shut down.  'Work…

Ophir Loses Block R Licence, Equatorial Guinea

Jan 06, 2019

London-based oil and gas exploration and production company Ophir Energy said that it has received notification from the Equatorial Guinea Ministry of Mines and Hydrocarbons that the Block R Licence, which contains the Fortuna gas discovery…

Shutdown Risks Delays to US Energy Initiatives

Jan 04, 2019

The partial government shutdown is increasing the chances of delays in U.S. energy initiatives from the release of President Donald Trump's proposed offshore drilling plan to allowing higher levels of ethanol in gasoline during summer months…

A 'Chicago Boy' Takes the Reins at Petrobras

Jan 04, 2019

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone.Tapped by far-right President Jair Bolsonaro, who took power on Tuesday…

India Plots Exploration Licensing Round

Jan 04, 2019

India will start auctioning for 14 oil and gas blocks in its second exploration licensing round on Monday, giving freedom to the companies to carve out areas they want to drill.The blocks together hold undiscovered reserves of about 14,995 million tonnes of oil equivalent…

Indonesia's Oil Output Rises

Jan 04, 2019

The Indonesian unit of Chevron Corp produced 209,400 barrels of oil per day (bpd) from the Rokan block in 2018, down from 223,000 bpd a year earlier, Dwi Soetjipto, chairman of upstream oil and gas regulator SKK Migas said.Exxon Mobil produced 209…

Brasse Wells Disappoints Faroe Petroleum

Jan 04, 2019

Faroe Petroleum has failed to find hydrocarbons at its Brasse East exploration well in the Norwegian North Sea, while the Brasse appraisal sidetrack well encountered hydrocarbons.The Aberdeen-headquartered firm said that the Brasse East exploration well 31/7-3 S was drilled to a total depth of 2…

Brazil’s Oil and Gas Market Revival in Numbers

Jan 03, 2019

Brazil’s oil and gas sector related businesses traded about R$22 billion (about US$5.6 billion) in the last two years. This figure from the National Agency for Petroleum, Natural Gas and Biofuels (ANP) was presented during a ceremony on the balance of advances in the sector…

WoodMac on Medco Energi's Potential Takeover of Ophir Energy

Jan 03, 2019

Wood Mackenzie Research Director, Angus Rodger, provides insight on a of UK-listed Ophir Energy by Indonesia's Medco Energi.'On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released…

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