CNOOC Limited has started production from the Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project located in the South China Sea.
Source: CNOOC starts production from South China Sea project
Month: January 2019
Hydrogen – the holy grail for transmission
Hydrogen is seen as an important factor in energy transition and tackling the climate change challenges and meeting Paris goals.
Eni signs MoU for petroleum exploration in block offshore Bahrain
Eni has signed a memorandum of understanding with the National Oil and Gas Authority of the Kingdom of Bahrain with the aim to pursue petroleum exploration of offshore Block 1.
Source: Eni signs MoU for petroleum exploration in block offshore Bahrain
Scotland’s oil and gas sales up by more than 18 pct
Oil and gas sales value in Scotland has risen by 18.2% between 2016-17 and 2017-18, according to the Scottish government.
OMV boosts estimated Wisting discovery volume figures
Over the past year, OMV noted a rise in estimated recoverable volumes in the company’s Wisting discovery in the Barents Sea offshore Norway.
Source: OMV boosts estimated Wisting discovery volume figures
Problems for US Producers at $50
U.S. producers can’t generate cashflow and production growth at $50 per barrel oil, according to Energy Aspects.
Source: Problems for US Producers at $50
Oil Market is Oversold | Rigzone
Oil Market is Oversold
At current levels, the oil market is oversold. That’s what Amrita Sen, co-founder of Energy Aspects, indicated in a television interview with CNBC on Monday. “When the [U.S.] waivers were given we thought prices would correct, but let’s say from $85 [per barrel] go down to $75, maybe $70. And yes, with a little bit of a demand wobble even $65 I could see that, but anything below that has definitely been algorithms,” Sen stated in the interview. “At current levels, based on
Source: Oil Market is Oversold | Rigzone
Ophir loses Fortuna discovery license offshore E. Guinea
Ophir Energy has received notification from the Equatorial Guinea Ministry of Mines and Hydrocarbons that the Block R Licence, which contains the Fortuna gas discovery, will not be extended following expiry of the license on December 31, 2018.
Source: Ophir loses Fortuna discovery license offshore E. Guinea
ExxonMobil drops one PGS vessel from Guyana survey after incident with Venezuelan navy
ExxonMobil has made changes to a 3D survey contract in South America with PGS, excluding one of the two vessels from the deal.
Source: ExxonMobil drops one PGS vessel from Guyana survey after incident with Venezuelan navy