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  • Oil ends week lower

    Weak economic data, geopolitical issues weigh on prices

    Online  upstreamonline.com 22 Mar 22:56 GMT Reuters

    US oil drillers drop nine rigs

    Producers under mounting pressure to cut growth and deliver shareholder returns

    Online  upstreamonline.com 22 Mar 22:46 GMT Caroline Evans

    Oil slips further from 2019 highs on demand worries

    Oil fell about 2% on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in US-China trade talks and as grim manufacturing data from Germany and the US reignited fears of a slowdown in the global economy and oil demand. The pan-European STOXX 600 index slipped for a third day after the flash PMI survey of purchasing managers showed German manufacturing contracted furth

    Online  upstreamonline.com 22 Mar 16:01 GMT Reuters

    Judge: BLM should factor climate change into lease sale

    US federal agency pushed to more thoroughly analyse climate impacts for about 300,000 acres recently leased

    Online  upstreamonline.com 22 Mar 15:25 GMT Kathrine Schmidt

    Norway's PSA gives go-ahead to North Sea rigs

    Norway's Petroleum Safety Authority (PSA) has given the go-ahead for two players to use two rigs on fields in the North Sea. Equinor was approved to use the semi-submersible Transocean Equinox on the Visund field for a workover of well 34/8-D-2 HT2. The work is scheduled to begin in early April and is expected to take 32 days. Transocean Equinox is a CAT-D semisub owned and operated by Transoce

    Online  upstreamonline.com 22 Mar 13:51 GMT ....

    CNOOC Ltd books rig for UK wildcat

    Chinese player charters semisub Island Innovator for exploration well in West of Shetland area

    Online  upstreamonline.com 22 Mar 13:47 GMT Eoin O'Cinneide

    Wintershall aims to explore off Argentina

    German player to bid in upcoming round and says oil more attractive amid latest policies

    Online  upstreamonline.com 22 Mar 12:40 GMT Anamaria Deduleasa

    Brazil set to re-launch gas reform process

    Government of President Jair Bolsonaro intends to re-launch stalled regulatory reform process this year

    Online  upstreamonline.com 22 Mar 12:29 GMT Gareth Chetwynd

    FREE

    VIDEO: Allseas performs heaviest lift at Sverdrup

    Pioneering Spirit hoists last two platform topsides for first phase of Equinor development off Norway

    Online  upstreamonline.com 22 Mar 09:45 GMT Eoin O'Cinneide

    Ex-Vietsovpetro officials jailed in graft crackdown

    A court in Vietnam jailed two former officials of a Vietnam-Russia oil joint venture on Friday, after convicting them of abusing their power to appropriate property, state media said. Vietnam is widening a corruption crackdown that has seen the Communist-ruled government launch investigations into hundreds of public officials and jail several executives at state-owned enterprises. Tu Thanh Nghia

    Online  upstreamonline.com 22 Mar 09:15 GMT Reuters

    Brazil ex-president Temer arrested

    Former energy minister also detained in probe into alleged graft scheme involving nuclear plant

    Online  upstreamonline.com 22 Mar 09:04 GMT Eoin O'Cinneide

    FREE

    Archer CEO Lechner bows out

    Norwegian drilling services player seeking new boss, with chairman stepping up as interim leader

    Online  upstreamonline.com 22 Mar 08:39 GMT Eoin O'Cinneide

    Russia ‘indispensable’ for Germany amid coal phase-out

    Wintershall boss says controversial Nord Stream 2 pipeline expected to transport first gas by end of year

    Online  upstreamonline.com 22 Mar 08:23 GMT Anamaria Deduleasa

    Wintershall, Dea merger bolstered by $6.8bn finance deal

    Merger to be completed in the first half of the year, creating the largest independent European gas and oil company

    Online  upstreamonline.com 22 Mar 08:15 GMT Anamaria Deduleasa

    Sudan summons Egypt ambassador over Red Sea blocks

    Sudan's Foreign Ministry said on Thursday it has summoned Egypt's ambassador to Khartoum, Hossam Issa, over Egypt offering oil and gas exploration blocks "in Red Sea areas subject to Sudanese sovereignty". It also urged oil and gas exploration companies against submitting any bids. Egypt's South Valley Egyptian Petroleum Holding Co has offered 10 oil and gas exploration blocks in the Red Sea for

    Online  upstreamonline.com 22 Mar 08:15 GMT Reuters

    Oil hovers below 2019 highs amid Opec cuts

    Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club Opec and by US sanctions on Iran and Venezuela. Concerns that an economic slowdown might soon impact fuel consumption are preventing crude prices from rising further, analysts said. Brent crude oil futures were at $67.90 per barrel at 6:17am GMT, 4 cents above their last close. Brent hit a fou

    Online  upstreamonline.com 22 Mar 07:49 GMT Reuters

    Comments bite at Equinor plan

    Equinor explains that a large number of submissions on Bight drilling were not offering constructive feedback

    Online  upstreamonline.com 22 Mar 03:09 GMT Russell Searancke

    Payday for Dyna-Mac

    New fabrication contracts give a much-needed boost to Singapore company's order book

    Online  upstreamonline.com 22 Mar 00:32 GMT Russell Searancke

    Call to ease Permian gas capacity constraints

    Industry leaders say more pipelines are needed to export output from prolific basin

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kathrine Schmidt

    Shale production rising from US onshore basins

    Oil production from US onshore shale basins is set to grow by 85,000 barrels per day in April to nearly 8.6 million bpd, with the prolific Permian driving the increase, writes Caroline Evans. The Permian of Texas and New Mexico is expected to grow crude production by 40,000 barrels per day to 4.17 million bpd from March to April, according to the US Energy Information Administration's most recent

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Faroe Islands eyeing up fresh licensing round

    Ground-breaking co-ordination with neighbouring UK sparks optimism

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Rob Watts

    Oda field on stream early

    Spirit Energy has kicked off production from its Oda field development off Norway five months ahead of schedule and nearly 15% below budget, writes Steve Marshall. The North Sea field, which is the maiden operated development for Spirit, has been developed as a subsea tieback to the AkerBP-operated Ula platform for a final cost of Nkr4.6 billion ($538.3 million). That cost compares with an orig

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Hurricane hooks up FPSO to Lancaster mooring buoy

    UK-based Hurricane Energy has finally hooked up the upgraded Aoka Mizu floating production, storage and offloading vessel to the turret mooring system buoy at the Lancaster field in the West of Shetland area, writes Anamaria Deduleasa. The FPSO is now on station and securely moored, the operator said. Hurricane is currently proceeding towards the first phase of development of Lancaster, an early

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Eni sets out strategy for project sanctions surge

    Italian operator aiming to take final investment decisions on 18 major new projects within next four years

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Iain Esau

    Japanese net block in UAE

    Japan’s Inpex has gained onshore Block 4 in Abu Dhabi’s competitive licensing bid round that was launched in April last year with the goal of adding to gas and oil reserves in the Persian Gulf producer, which pumps almost all the oil production of the United Arab Emirates, writes Nassir Shirkhani. The award further cements energy ties with Japan, which imports 25% of its crude oil needs from the

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Nassir Shirkhani

    Pemex well deal for Borr

    Borr Drilling said a subsidiary has been awarded an integrated service contract by Pemex for delivery of nine development wells off Mexico, a package that will employ two newbuild jack-up rigs, writes Kathrine Schmidt. The contract is expected to run for 18 months and launch in mid-2019. According to a tender document from Pemex, the work is valued at a total of $350.9 million. "Borr will leve

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Unitisation at Lula field

    Brazil’s National Petroleum Agency (ANP) has given the green light to a unitisation agreement covering the main Petrobras-operated Lula field, an area called South of Tupi, and a third section of the Santos basin field, which is currently located on open acreage. The South of Tupi area is subject to a 2010 transfer of rights in favour of state-controlled Petrobras. The unitisation process leaves

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    ECO Resources revisits Thailand drilling plans

    Independent reviews upcoming campaign close to UNESCO World Heritage status nominated site in light of growing objections

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Amanda Battersby

    Pan Orient on target at DD play

    Canadian operator planning aggressive campaign for more oil

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Amanda Battersby

    Plans for CO2 and buybacks

    Eni chief executive Claudio Descalzi said decarbonisation is a strategic priority for the company and highlighted a target of reaching upstream carbon neutrality by 2030. “We will accomplish this by increased efficiency to minimize direct upstream carbon dioxide emissions and offsetting residual upstream emissions through large forestry projects,” said Descalzi. Eni said it will increase its 201

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Iain Esau

    Big push ahead for wildcats

    ITALIAN major Eni plans to spend €3.5 billion ($4 billion) to drill at least 140 wildcats over the next four years, targeting 2.5 billion barrels of potential resources, many in frontier basins, writes Iain Esau. “We will drill around 40 wells per year… with an annual expenditure of €900 million,” said chief executive Claudio Descalzi. “In 2019, we will target 600 million barrels (of potential r

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Iain Esau

    Abbott's path leads from tropical wells to UK shale

    Managing director of UK onshore player Egdon Resources had an unconventional entry into the industry

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Eoin O'Cinneide

    North Dakota breaks its gas output record

    The US state of North Dakota hit a natural gas output record in January, as producers in the prolific Bakken formation work toward meeting strict flaring restrictions with the help of new gas gathering capacity, writes Julia Martinez. Statewide gas output reached 2.72 million cubic feet per day in January, up from 2.65 MMcfd in December, according to preliminary data from the North Dakota Departm

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Bonds deal shows Dana is back

    Abu Dhabi-listed player's buyback highlights improved performance

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Nassir Shirkhani

    Halcon eyes its options

    US independent considers asset sales

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Navalny gets on Golubev’s case

    The latest investigation by leading Russian opposition figure Alexei Navalny has shed light on alleged corporate inefficiencies at gas monopoly Gazprom. Navalny, who is well known for his inquiries into state-controlled corporations and banks, has highlighted the unexplained rise in wealth of Gazprom’s deputy executive board chairman, Valery Golubev. Gazprom said this month that Golubev retired

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Vladimir Afanasiev

    Sky’s the limit for Ineos boss Ratcliffe

    Founder of shale and chemicals player grabs yellow jersey in race to sponsor UK cycling team

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Eoin O'Cinneide

    Going with the flow...

    Sempra Energy has appointed Lisa Glatch chief operating officer and Justin Bird president Ian Marchant is stepping down as chairman of Wood, with Jann Brown and Linda Adamany also leaving as directors EnQuest has named Howard Paver as a director Esa Ikaheimonen has been appointed as a director at Independent Oil & Gas Brian Kinane has been appointed as a director of Curzon Energy Texo Enginee

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Eoin O'Cinneide

    Tellurian in climate research pledge

    US liquefaction player Tellurian has made a $2 million pledge to Columbia University’s School of International & Public Affairs (SIPA) to help fund research into climate change. The Houston-based company, which is looking to build the Driftwood liquefied natural gas development in Louisiana, will help support the energy and climate studies of the Center on Global Energy Policy (CGEP) over a two-y

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Eoin O'Cinneide

    Samurai may have the edge

    BHP believes the Samurai discovery in the US Gulf of Mexico is a commercial find, and plans to work with operator Murphy over the next year on the next steps, writes Kathrine Schmidt. BHP sees the potential for a tie-back for the discovery, and is working through options for a host, though it does not see its own operated Shenzi development as a likely option due to its distance from the find. “

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kathrine Schmidt

    Zuluf onshore packages process under way

    Saudi Aramco has already launched a pre-qualification process with international engineering, procurement and construction contractors covering the three major packages that form the onshore component of its Zuluf incremental project, writes Nishant Ugal. “They have just initiated the pre-qualification process for the three onshore packages and have issued solicitation of interests,” a source fro

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    BHP keen to act off Canada

    BHP’s aggressive move to pick up a pair of blocks off Canada’s Newfoundland & Labrador late last year marked its entry into a new region, but the move was consistent with the company’s approach in looking for big hydrocarbon potential with an appealing operating environment and fiscal conditions, said Geraldine Slattery, president of petroleum operations. “The geology in Canada is analogous to th

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kathrine Schmidt

    Chinese duo in position to carry out pre-FEED on Carcara FPSOs

    Two Chinese yards have already been lined up to carry out pre-front engineering and design studies on the generic hulls for the floating production, storage and offloading vessels that Equinor intends to install at the Carcara field and potentially elsewhere in Brazil, writes Xu Yihe. Sources said Equinor has signed up with Japanese floater specialist Modec and its Dutch rival SBM to lead the two

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Timor-Leste to offer onshore and offshore acreage

    Timor-Leste's long-awaited licensing round will come into play later this year after the new maritime boundary treaty with Australia is ratified, writes Russell Searancke. Petroleum officials said offshore and onshore blocks will be offered in the same round, which could start this November or December. About 10 offshore areas are likely to be reserved while four or five onshore permits will be

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Eni and Timor Resources step up exploration

    Italy's Eni and privately-owned Timor Resources are busy satisfying their exploration obligations in Timor-Leste, writes Russell Searancke. Eni will spud imminently an important offshore oil exploration well with dual targets including a secondary untested Triassic reservoir as well as the primary Jurassic interval. The well is being drilled using the semi-submersible drilling rig Maersk Deliver

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Border treaty set to spur Timor-Leste action

    Sunrise project development and new exploration round on menu when agreement is finally ratified

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Russell Searancke

    Thailand goes to the polls

    Existing military seeking to retain prime ministerial role

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Texas LNG gets final environmental report

    The combined construction and operation of three liquefied natural gas export facilities on the Texas coast could have a lasting effect on protected wildlife in the region, US regulators warned in a recent environmental report, writes Caroline Evans. According to a final environmental impact statement on the Texas LNG facility prepared by staff from the Federal Energy Regulatory Commission (Ferc)

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Massive Gorgon reinjection project slips behind schedule

    Chevron’s project for the reinjection of carbon dioxide from the Gorgon liquefied natural gas project in Australia has missed its scheduled start-up date, writes Russell Searancke. The project was due to come on line in the current quarter, but a Chevron spokesperson confirmed that has not yet happened but added that the company is “confident of achieving first injection later this year”. “The G

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Chhara project gets nod

    Hindustan Petroleum Corporation (HPCL) and a subsidiary of Shapoorji Pallonji have received approval for their proposed 5 million tonnes per annum Chhara liquefied natural gas import project in India, writes Amanda Battersby. Chhara could be the fourth land-based LNG receiving and regasification project in the west coast state of Gujarat if it goes ahead, albeit one that was initially targeting s

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    TechnipFMC wins deal for Johan Sverdrup 2

    UK-based player awarded subsea production system contract by Equinor

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Ole Ketil Helgesen and Steve Marshall

    Equinor planning exploration ramp-up off Azerbaijan

    Norway's Equinor plans to step up exploration off Azerbaijan this year with an appraisal well on the Karabakh prospect using the semi-submersible drilling rig Dede Gorgud, writes Kama Mustafayeva. Equinor has signed a two-well drilling agreement with state oil company Socar’s subsidiary Caspian Drilling Company (CDC), and the appraisal well is expected to spud later in the year. CDC has to rea

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Operator in Snorre safety rap

    Norwegian operator Equinor is in hot water with the country’s offshore watchdog over safety issues at the Snorre B platform, the Aasgard B platform and the under-development Martin Linge facility, write Beate Schjolberg and Steve Marshall. At Snorre, Equinor is being called to account by the Petroleum Safety Authority (PSA) for an incident in which a riser plunged to the seabed after becoming dis

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Tender for Bay du Nord

    Equinor is on the prowl for a certifying authority and classification society to work on its Bay du Nord project off Newfoundland, Canada. An expression of interest has been issued with responses due back by 25 March. Qualified players will be considered in an upcoming invitation to tender which is currently due to start next month. The successful contractor will carry out certification and cla

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    White Rose flowline components recovered for spill probe

    Husky Energy has completed the recovery of subsea flowline components from its White Rose field off Newfoundland, Canada. The components were due to be brought to shore this week for investigation and analysis in order to assist investigations by Husky and the local regulator to determine the root cause of an oil spill in November 2018. The operator said: “We have completed our activities at the

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Iraq wins Iranian gas import waiver

    The US is granting Iraq a renewed 90-day waiver to allow it to keep importing electricity and natural gas from Iran despite US sanctions against Tehran, writes Nassir Shirkhani. The waiver, issued in December, expired on 19 March. "While this waiver is intended to help Iraq mitigate energy shortages, we continue to discuss our Iran-related sanctions with our partners in Iraq," a State Department

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Kazakh leader Nazarbayev steps down

    International players operating in oil-rich Kazakhstan are observing developments in the Central Asian nation after President Nursultan Nazarbayev unexpectedly called time on his three decades-long reign. The 78-year-old announced this week he will step away from the position as of 20 March after singing a decree terminating his powers. Nazarbayev added that he will retain key security council a

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Pakistan to revise law for next licensing round

    Government pressing ahead with revamp of petroleum legislation to stimulate exploration

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Amanda Battersby

    Mubadala weighs up Malida

    Other Manora tieback targets to be drilled

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    London listing on the cards for Delek Drilling

    Player with stakes in Leviathan and Aphrodite gas finds in the Mediterranean looks to raise international investment

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Iain Esau

    Losses narrow for Wood

    London-listed contractor Wood narrowed its loss in 2018 to $7.6 million, compared with a loss of $30 million for 2017, following a 78.9% jump in revenue last year, writes Anamaria Deduleasa. Revenues rose from $6.17 billion in 2017 to $11.04 billion last year, which Wood attributed to a full year of contributions from recently-acquired Amec Foster Wheeler (AFW). "Wood delivered good organic gr

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Bouteflika insists on successor plan as he defies mass protests

    Algerian President Abdelaziz Bouteflika has defied mass protests calling for his immediate resignation, insisting on a plan to elect a successor only after a national conference and new constitution is approved, writes Nassir Shirkhani. Bouteflika, 82, last week bowed to demonstrators who say he is unfit to run Algeria by announcing he had reversed a decision to stand for another term. He stoppe

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    OPINION: Political stability crucial for Thailand

    OPINION: Thailand goes to the polls on Sunday, and whilst it would be wrong to discount a result that gives the power back to the people, realistically the military will still be involved and the country seems destined for further political instability. And it is often instability and uncertainty that most affects the investment climate, not least in the oil and gas industry. Thailand goes to

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Amanda Battersby

    Public comments on Stromlo-1 to be handed to Equinor

    Public comments have closed on Norwegian operator Equinor’s planned Stromlo-1 deep-water exploration well in the environmentally-sensitive Great Australian Bight, writes Russell Searancke. The 30-day public comment period ended on 20 March. The comments that have been submitted to Australia's National Offshore Petroleum & Safety Environmental Management Authority (Nopsema) will be provided to Eq

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Cooper closing in on gas from Sole development

    Construction of offshore facilities off the coast of Victoria is now complete, but some work remains before project start

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Josh Lewis

    EPA axes emission guideline

    Western Australia’s Environmental Protection Authority (EPA) has withdrawn a guideline that would have required new oil and gas projects to have zero net carbon emissions, writes Josh Lewis. Following criticism from both government and industry, the EPA last week withdrew the guideline which recommended new projects, including expansion proposals, with direct emissions above 100,000 tonnes of car

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Acu signs deal to host oil transshipments

    Acu Petroleo, a partnership between Brazil’s Prumo Logistica and Germany’s Oiltanking, has signed a contract to host transshipment operations for Norway’s Equinor using the T-Oil terminal in the port of Acu in the state of Rio de Janeiro. This three-year contract, which is due to start in January 2020, offers a logistics solution for Equinor’s share of production from the Roncador field in the Ca

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    China looks to attract new slate of explorers

    Government backs NDRC plan to open up onshore sector to non-state companies

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Xu Yihe

    KPOC and MMHE in dispute

    Malaysian contractor mulling counterclaim against Petronas-led consortium

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Oil spills after Colombia pipeline bombed twice in one week

    Colombia’s Cano Limon-Covenas pipeline was attacked twice last week, causing oil spills in the northern part of the country. An attack reported on 15 March in the department of North Santander ruptured the pipeline causing crude oil to spill into the Catatumbo River. An attack in the department of Arauca only two days before that incident had caused an oil spill spanning 1250 square metres. Cle

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    PetroRio eyes wells at Frade

    Brazilian independent PetroRio is starting to look at plans to drill new wells on the Frade deep-water field in the Campos basin, where it recently acquired a large stake from US supermajor Chevron, writes Fabio Palmigiani. “We believe in the potential of Frade and its upside regarding cost efficiency and reservoir management. It will take some time before we get to know the geology of the field,

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Rosneft to spud two wells

    Russia's Rosneft is planning to spud and test two exploration wells in the remote Taymyr district of East Siberia's Krasnoyarsk region between 2020 and 2021, despite an unsuccessful campaign nearby by privately held compatriot Lukoil, writes Vladimir Afanasiev. The first well will be drilled at the Kupchiktakhsky block, with a second to follow at the Kungasalakhsky block. Rosneft obtained licenc

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Quick step is made for NPDC facility

    State-owned Nigerian Petroleum Development Company Limited (NPDC) is in the market for an early production facility for deployment in OML 11, write Barry Morgan and Iain Esau. Days after Nigeria President Muhammad Buhari ordered NPDC to assume operatorship of the licence, the company started a pre-qualification exercise — which will close on 8 April — for a 10,000-barrel per day early production

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Buhari order creates upstream uncertainty

    Nigerian leader instructs Shell to hand over OML 11 operatorship to state-led NPDC

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Barry Morgan

    Shale gas players still struggle to make headway in 'world class' British play

    Despite strong attempts by the UK government to encourage the development of a shale gas industry in the country, it has been anything but smooth sailing, writes Anamaria Deduleasa. England so far has been the UK's sole issuer of fracking permits, as Wales, Scotland and Northern Ireland either have moratoriums in place on the technique or are still in the process of evaluating its benefits. To d

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Glengorm find latest to cheer industry

    The UK offshore sector started the year on the front foot when China’s CNOOC International confirmed it had made what is thought to be the largest natural gas discovery off the UK in the past 10 years, writes Rob Watts. French partner Total estimates that Glengorm, in Block 22/21c-13 in the central North Sea, could hold recoverable resources of almost 250 million barrels of oil equivalent — a siz

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    New discoveries feed UK optimism

    Bigger new discoveries are feeding growing optimism about drilling on the UK continental shelf, even though the number of exploration wells remain at historically low levels and concerns remain about development drilling, writes Rob Watts. Just eight exploration wells were drilled in 2018, the first year less than 10 have been drilled on the UK continental shelf since commercial volumes were firs

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Mixed forecast for UK's gas sector

    Supplies from Europe will remain vital to country, even it leaves EU

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Anamaria Deduleasa

    North Sea has legs for future

    The North Sea industry will be 70 years old in 2035 and industry leaders reckon the basin has the potential to be producing about 1 million barrels of oil equivalent per day by then. However, as trade association Oil & Gas UK (OGUK) said in its flagship Business Outlook report this week, that will require massive investment of about £200 billion ($265 billion). Back in 2013, when oil prices were

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Rob Watts

    Pakistan eyes FSRU

    Pakistan’s Economic Coordination Committee (ECC) has directed the Ministry of Maritime Affairs to pull out all the stops for a third liquefied natural gas floating storage and regasification unit to be installed on a fast-track basis near the country's commercial capital Karachi. The Ministry has reportedly suggested that the novel facility be located at Jharri Creek-Chann Wadoo on a discrete cha

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    NLNG to decide on Train 7

    Nigeria LNG (NLNG) is set to take a final investment decision on its Train 7 liquefied natural gas expansion project in the third quarter, according to a senior executive at one of the company’s major stakeholders. “We intend to FID this year,” Maikanti Baru, group managing director of state-owned oil player Nigerian National Petroleum Corporation (NNPC), told Upstream recently. Asked when he se

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    African moves for merger

    UK junior African Petroleum has entered an all-shares merger with privately-owned PetroNor E&P, a Norway-headquartered vehicle with shallow-water assets in Congo-Brazzaville, writes Barry Morgan. The new company will be named PetroNor E&P Ltd, with the deal expected to close in late April. African Petroleum chief executive Jens Pace, who will keep the top job in the combined company, sees the me

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Dea finishes Sierra buy

    Germany’s Dea has completed the acquisition of Mexican independent Sierra Oil & Gas, giving it a 40% stake in Talos Energy’s large Zama oil discovery plus interests in five offshore exploration tracts. The deal has been approved by Mexico’s National Hydrocarbons Commission and the Federal Economic Competition Commission. Dea chief executive Maria Moraeus Hanssen said the deal “is a fantastic opp

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Oil hits highest price this year

    Unexpectedly large drop in US crude stockpiles sees prices rally, but Saudi Arabia says there is still work to do

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Nassir Shirkhani and Kama Mustafayeva

    Shell report counts potential cost of OPL 245

    Shell has admitted to being badly shaken by ongoing litigation related to alleged wrongdoing in securing OPL 245 off Nigeria which it, together with Eni, acquired from the government in 2011, writes Barry Morgan. Shell appeared to acknowledge that “trust and hope for the future” had been compromised by unfolding events in Milan, where Italian prosecutors are calling witnesses to give testimony, a

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Eni to drill at Blacktip

    Italian operator Eni is planning to drill a new well at its Blacktip gas field off north-west Australia. The Milan-based player lodged documents with Australian regulator the National Offshore Safety & Environmental Management Authority (Nopsema) outlining plans to drill a third development well at the field, in WA-33-L, using a jack-up.

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Savannah plan for Agadem

    UK player Savannah Petroleum is aiming to have its proposed early production system (EPS) at its Agadem Rift basin field development in Niger up and running in the middle of this year. The AIM-listed company has submitted a feasibility study to the Ministry of Energy & Petroleum for the planned EPS and development proposal for the R3 East portion of the R3/R4 production sharing contract area. Th

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Saudi oil strategy is not without risk

    Dictating cuts in output to boost prices has had desired revenue benefit but it may start to irk allies

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Nassir Shirkhani

    Papua LNG deal on track

    The development agreement that will underpin the Total-led Papua liquefied natural gas project in Papua New Guinea is on schedule for finalising before the end of this month. Co-venturer Oil Search said the agreement — better known as the Gas Agreement — between the PNG government and the Papua LNG joint venture "is on track to be finalised by the end of this month, with signing in early April 20

    Weekly  upstreamonline.com 21 Mar 23:00 GMT ....

    Kashagan on course for gas injection scheme

    Kazakhstan government expected to approve new plans for giant project in summer

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kama Mustafayeva

    Shell tops US Gulf bid list

    Lease sale brings in most revenue since oil price crash as companies move to boost portfolios

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kathrine Schmidt

    Three submit offers for Poseidon pipeline work

    Trio of contractors bid for EPCI contract linking Italy and Greece

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Iain Esau

    Election spat casts cloud over Guyana

    Fears country is heading into politicial crisis as government's insists elections commission is not ready to hold new vote

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Gareth Chetwynd

    Alberta to further ease limits on oil production

    Canadian province to lift cap and add 50,000 bpd as capacity and weather improve

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Caroline Evans

    BHP’s Trion decision may arrive next year

    Operator to carry out appraisal at deep-water find off Mexico and is looking towards crucial final investment call

    Weekly  upstreamonline.com 21 Mar 23:00 GMT Kathrine Schmidt

    Oil slips but holds near 2019 peak

    Oil edged lower on Thursday but held near 2019 highs, supported by a tightening of global stocks, Opec production cuts and US sanctions on key producers Iran and Venezuela. Brent crude futures were down 24 cents at $68.26 a barrel by 11:02am GMT, having hit their highest since 13 November at $68.69 earlier in the session. US West Texas Intermediate (WTI) crude futures were at $60.01 per barrel,

    Online  upstreamonline.com 21 Mar 16:21 GMT Reuters

    UK in green power drive

    State agency launches initiative to harness renewables to run facilities as part of energy integration effort

    Online  upstreamonline.com 21 Mar 13:23 GMT Steve Marshall

    Kremlin 'heeds Novatek call' on Arctic LNG 2 terminal

    Russian Finance Ministry said to have requested approval from government for cargo receiving facility

    Online  upstreamonline.com 21 Mar 12:20 GMT Vladimir Afanasiev

    McDermott bags Middle East contract

    US contractor wins EPCI deal worth up to $750m for new platforms in Persian Gulf

    Online  upstreamonline.com 21 Mar 11:35 GMT Steve Marshall

    PTTEP in $2.13bn Murphy Malaysia assets buy

    Thai state player snaps up US independent's subsidiaries as the latter exits Malaysia

    Online  upstreamonline.com 21 Mar 11:27 GMT Eoin O'Cinneide