Oil Prices News

 

Decommissioning in Brazil: The New Frontier

9 hours ago

With the oil and gas market heating up in Brazil, many foreign service providers are looking to set up shop in Brazil with an eye on new opportunities.Although the South American country's main attraction will continue to be exploration and production (E&P) in post-salt and pre-salt acreage, other significant opportunities will be on offer. One niche will be the decommissioning of various offshore structures…

Norway's Northernmost Oil Find Could Start Production in 2026

11 hours ago

Austria's OMV and partners plan to invest up to $6 billion initially to develop the Arctic Wisting oil find, Norway's northernmost oil discovery, which could start production within a decade, a senior executive said on Wednesday.OMV owns a 25…

Petrobras 2018 Production Shy of Target

12 hours ago

Petroleo Brasileiro produced an average of 2.03 million barrels per day (bpd) in Brazil last year, the oil company said in a statement on Tuesday, just below the company's target of 2.1 million bpd.Petrobras' total production of oil and natural gas was 2…

Tullow to Boost 2019 Output

13 hours ago

Africa-focused Tullow Oil's production is set to grow to between 94,000 and 102,000 barrel of oil equivalent per day (boed) this year, it said in a trading update on Wednesday, from 90,000 boed last year as it increases output in Ghana.Free cash flow stood at $400 million…

Exxon to Be Indonesia's Top Oil Producer

13 hours ago

Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron…

Equinor Makes Gas and Condensate Discovery off Norway

13 hours ago

Norwegian oil company Equinor announced Wednesday it has proven gas and condensate in the 6406/2-9 S exploration well at Ragnfrid North around 20 kilometers south of the Kristin platform in the Norwegian Sea. Recoverable resources are estimated at 6-25 million barrels of oil equivalent…

Ocean Infinity to Conduct AUV Surveys for Petrobras

13 hours ago

U.S. based seabed survey and ocean exploration company Ocean Infinity announced Wednesday that its Brazilian partner has been awarded a contract to provide high-resolution hydrographic mapping services to Brazilian national oil company Petrobras…

BP Gives Up Acreage Offshore Nova Scotia

Jan 15, 2019

BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, as the Canada-Nova Scotia Offshore Petroleum Board (NSOPB) said the company is giving back 50% of the area included in its license.According to NSOPB, half of the area…

L&T Consortium Wins EPCI Order from Saudi Aramco

Jan 15, 2019

L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro Limited  (L&T), said that it has, in consortium with Subsea 7, has bagged two projects from the world's largest oil company Saudi Aramco.The company which serves the Oil and Gas sector around the world…

Vryhof Reports New Contracts

Jan 15, 2019

The Netherlands based offshore services provider Vryhof  announced on Tuesday its three businesses Deep Sea Mooring, Vryhof Anchors and Moorlink have been awarded up to $75 million in new contracts to start 2019.The contracts include deals for Vryhof Anchors for the WindFloat Atlantic wind farm…

Access to Pipelines Curbing Norway Forecast

Jan 15, 2019

The latest communique out of Norway to indicate the return of “good times” offshore also warns that post-2014 short-termism may have contributed to conditions requiring, ironically, more haste to keep production from plummeting by 2025.Noting 2018’s higher exploration well count (53 vs…

Seven New Wells Planned at Gullfaks

Jan 15, 2019

Norwegian energy company Equinor announced that the Gullfaks partners have decided to move forward with a NOK 2.3 billion plan to drill seven new wells at Norway’s fourth largest oil field and improve oil recovery by 17 million barrels.“Our…

Norway Supreme Court Hears Snow Crab Case with Implication for Oil

Jan 15, 2019

Norway's Supreme Court began hearing arguments on Tuesday on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region…

Norway Awards Record Number of Exploration Blocks

Jan 15, 2019

Norway awarded a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, in a sign of continuing interest from oil companies in the country's oil sector, the energy ministry said on Tuesday.A lack…

OMV Increases Wisting Volumes

Jan 15, 2019

Austrian oil company OMV noted a rise in estimated recoverable volumes in the company’s Wisting discovery in the Barents Sea offshore Norway during last year.The company said on Monday that the estimated recoverable volumes in the Wisting discovery…

Current News

Decommissioning in Brazil: The New Frontier

Decommissioning in Brazil: The New Frontier

Norway's Northernmost Oil Find Could Start Production in 2026

Norway's Northernmost Oil Find Could Start Production in 2026

Woodside Awards Scarborough FEED Contracts

Woodside Awards Scarborough FEED Contracts

Subsea 7 Acquires Sealion Vessel

Subsea 7 Acquires Sealion Vessel

Petrobras 2018 Production Shy of Target

Petrobras 2018 Production Shy of Target

Tullow to Boost 2019 Output

Tullow to Boost 2019 Output

Statfjord A Platform Back in Action

Statfjord A Platform Back in Action

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