BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over the next two years.Under the terms of the deal…
Norway's oil and gas output could be cut by about 440,000 barrels of oil equivalents per day, or about 11% of total production, if workers go on strike from June 4, industry association Norwegian Oil and Gas (NOG) said on Monday.A government…
Oil production in the US Gulf of Mexico (GoM) is poised to set new records in the imminent future, said Rystad Energy.Royal Dutch Shell started producing oil and gas this month at its Appomattox platform in the deepwater GoM several months ahead of its expected startup in 3Q 2019…
The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently launched a new liquids pipeline projects database that tracks more than 200 crude oil…
Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…
Norway has asked oil firms to apply for exploration blocks in its so-called mature areas licensing round by August 27, with up to 90 blocks on offer, the Ministry of Oil and Energy said.In March, the ministry announced the predefined areas (APA) licensing round for 2019…
Around 200 Norwegian offshore oil and gas workers plan to go on strike on June 4 unless pay negotiations lead to a deal with employers, the Lederne labour union said on Wednesday.A strike would hit seven offshore fields and at least two of those would have to shut production…
Pemex's oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday.Exports of Maya crude, the only type Pemex has been selling abroad for almost a year…
Oil and gas companies working in Norway have hiked their 2019 and 2020 investment forecasts as they add more field development plans, a survey by the country's statistics agency (SSB) showed on Tuesday.Higher investment raises the prospect of further interest rate hikes by Norway's central bank…
Whatever its investments in wind, Equinor on Monday received a much anticipated greenlight to drill for oil in a mature quadrant of the North Sea, where success with the drill bit could again change field economics for the giant Johan Sverdrup field — and other…
Mexico's government aims to give $7.3 billion in tax relief to heavily indebted state oil company Pemex, according to a document seen by Reuters on Thursday, in an effort to cool fears over its financial viability and the impact on the wider economy…
Teekay said it has entered into an agreement with Canadian Natural Resources (CNR) to extend the employment of the Petrojarl Banff FPSO unit on the Banff field in the UK North Sea for a period of one year to the end of August 2020.According to Teekay…
The Shell-operated Appomattox floating production system in the US Gulf of Mexico has been brought into production several months ahead of schedule, the British-Dutch supermajor announced on Thursday.The ultra-deepwater Appomattox development…
Asia Pacific focused independent oil and gas company Jadestone Energy announced on Thursday that the Stag 49H infill well offshore Australia has started producing at a rate of 1,400 bopd.After concluding drilling operations on May 6, 2019, the…
Petroleo Brasileiro said on Tuesday it is interested in exercising its preferential right to tender in two areas in an auction of excess oil from the so-called 'transfer of rights' (TOR) area, according to a company filing.The Brazilian state…
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