CNOOC Ltd on Wednesday lowered its 2020 oil and gas production and capital spending, China's state offshore oil and gas producer said.It cut its capital spending target by 10 billion yuan ($1.41 billion) to a range of 75-85 billion, CNOOC said…
Indonesia's upstream oil and gas regulator SKK Migas has cut its full-year production outlook for the country, its chairman Dwi Soetjipto told reporters on Thursday, after reporting a drop in oil and gas output in the first quarter.The coronavirus…
UK-Focused oil firm Jersey Oil & Gas will lead the study aimed at forming a hub to potentially develop oil discoveries made by several operators in the Greater Buchan Area in the UK North Sea.JOG said Monday has established and will lead the…
A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…
Norwegian oil and gas company Pandion Energy has completed the sale of its 10 percent non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.According to Pandion Energy it was previously announced transaction with Solveig Gas Norway AS…
Commercial oil production started earlier this month from Layang field on Block SK10 offshore Sarawak, Malaysia, operator JX Nippon Oil & Gas Exploration Corporation announced this week.Layang, which has been producing natural gas since May 2017…
China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market access to infrastructure and boost investment in oil and gas production.Most of the country's…
Indonesia considers allowing for production sharing oil and gas contracts optionsIndonesia is considering letting energy companies stick with the 'cost recovery' system for oil and gas production sharing contracts, the energy minister said on Monday…
Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to…
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…
The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5% to cross $890 million by 2024.According to a report by ResearchAndMarkets, the growth…
Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said on Tuesday.Saudi Aramco plans to boost production capacity from the two fields by 550…
South Africa continues to make progress in its endeavor to woo increased investment in the country’s highly under-developed offshore oil and gas market as the government’s slow and delayed plan to make cuts on crude oil imports begins to take shape…
The ongoing political turmoil in Algeria threatens to delay even further the planned offshore oil and gas exploration projects that the country is betting on to reverse the declining oil and gas output especially from maturing onshore fields…
British oil and gas production rose 4 percent to 1.7 million barrels of oil equivalent per day in 2018 compared with the previous year, according to the Oil and Gas Authority, an industry regulator.'The Oil and Gas Authority (OGA) now projects…
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