Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness.The challenge is to form an accurate and nuanced picture of the whole market capable of generating useful forecasts, without becoming lost in the insignificant details.The World Bank identifies around 200 economies in the world…
Tap Oil on Friday shared an update on the Yothaka East-2 appraisal well drilled in the G1/48 concession Manora Production License, operated by Mubadala Petroleum, in the Northern Gulf of Thailand.Operations on the sidetrack of the Yothaka East…
Independent upstream oil and gas company KrisEnergy said first steel has been cut for the minimum facilities wellhead platform (MiniPlatform) for the Apsara oil field in Block A, offshore Cambodia, the nation’s maiden hydrocarbon development…
Russia still expects an increase in 2019 oil output to a record 556-560 million tonnes from 555.8 million tonnes produced in 2018, Energy Minister Alexander Novak told the ministry's magazine, in comments published on Thursday.That would mean production would reach between 11…
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…
Completions service company Tendeka said it has launched a new single trip sand control solution to address the issue of sand control failure in wells.The Filtrex remedial sand control system provides the flexibility to be installed thru-tubing…
Santos Ltd on Tuesday increased its forecast for 2025 production by 20% underpinned by oil and gas projects it plans to develop in Australia and Papua New Guinea.The company plans to produce 120 million barrels of oil equivalent (mmboe) a year by 2025…
Vietnam's state-run Binh Son Refining and Petrochemical Co (BSR) has inked an agreement with Azeri state energy company SOCAR to buy five million barrels of crude in 2020, BSR said late on Friday.SOCAR Trading will provide five million barrels…
At SK Energy's largest refinery in South Korea, engineers are rushing to complete a new processing unit ahead of schedule as the firm looks to boost sales of low-emission fuels before new marine fuel standards take effect in just one month.In Japan…
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…
Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.Its sales fell 8.1% from the second quarter to 1…
Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.Profit for the July-September period at Petronas, as the company is better known…
Norway-based international subsea operating company DOF Subsea announced several contract-awards in the Asia Pacific region, securing 130 days vessel and resource utilization into the first quarter of 2020. The contracts, for undisclosed clients in New Zealand and South East Asia…
China's CNPC said it has signed a Memorandum on expanding cooperation with KazMunayGas (KMG) and a Memorandum on natural gas cooperation with the Ministry of Energy of the Republic of Kazakhstan and KazTransGaz, respectively.Signing of the two…
Global oil demand may rise as global trade wars subside, Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), told reporters on Wednesday when asked what to expect from a meeting of OPEC and non-OPEC oil producers set for December…
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