Oil & Gas Production News - page 22


IEA's Birol Urges Oil Producers to Pump More

Mar 14, 2022

International Energy Agency (IEA) chief Fatih Birol on Monday urged oil-producing countries to pump more to stabilize markets affected by the war in Ukraine.After an initial release of 62 million barrels, the IEA would make further releases if 'conditions stay or worsen'…

Malaysia: Kimanis Oil Exports to Fall in May on Field Maintenance

Mar 11, 2022

Exports of Malaysia's flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday.Shell, the operator of the oilfields that produce Kimanis…

McDermott Wraps Bayu Undan Field Infill Work

Mar 10, 2022

Offshore services firm McDermott International said Thursday it had recently completed work under its first subsea, engineering, procurement, construction and installation (EPCI) contract with Australia's oil and gas firm Santos for the Bayu-Undan Infill Well Phase 3C Project in the Timor Sea…

'World's Largest OSV Fleet': Tidewater to Buy Swire Pacific Offshore

Mar 09, 2022

U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (SPO), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create…

Soaring Prices Set Stage for Drop in Oil, Gas Demand

Mar 08, 2022

Oil prices running at their hottest level in 14 years are poised to cut post-COVID pandemic fuel demand as consumers react to surging pump and power prices by pulling back on spending and travel, top energy executives warned on Monday.Global…

Sakhalin Projects to Effectively 'freeze', Japan Holding Off Decision - Minister

Mar 08, 2022

Japanese industry minister Koichi Hagiuda said on Tuesday that the Sakhalin energy projects 'will effectively freeze' given the exit of Western stakeholders and that Japan would therefore wait to see how the situation plays out to make any decision…

Brent Crude Soars to $139 a Barrel as U.S., Europe Mull Russian Oil Import Ban

Mar 07, 2022

Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139…

Exxon to Exit Russia, Leaving $4B in Assets, Sakhalin LNG Project in Doubt

Mar 02, 2022

ExxonMobil on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow's invasion of Ukraine.The decision will see Exxon pull out of managing large oil…

Jadestone Energy Resumes Full Output from Montara (Australia)

Mar 02, 2022

Jadestone Energy said Wednesday it had resumed full production at the Montara project offshore Australia.Montara production had in recent weeks been running at reduced rates following an engine failure in the gas reinjection compressor.  'The engine has been replaced and gas lift reinstated…

Oil Rises Past $102 as Russian Energy Supply Fears Intensify

Feb 28, 2022

Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.Brent crude LCOc1 rose $4.82, or 4.9%, to $102…

Qatar's LNG Production Capacity to Reach 126 mln T a Year by 2027, says Emir

Feb 22, 2022

Qatar's Emir Sheikh Tamim bin Hamad al-Thani said on Tuesday that Qatar's liquefied natural gas production capacity will rise to 126 million tonnes a year by 2027.Speaking at a gas exporters summit hosted in Doha, al-Thani renewed calls for further dialogue among member countries of the gas forum…

Petronas, Mitsubishi to Sell stakes in Yetagun Gas Field Offshore Myanmar

Feb 18, 2022

Malaysia's Petronas and Japan's Mitsubishi Corp are divesting their stakes in Myanmar's Yetagun gas field, the companies said, in the latest exits by major energy companies from the country since last year's military coup.A spokesperson from…

Woodside Profit Hits Seven-year High

Feb 17, 2022

Soaring oil and gas prices and cost savings helped Australia's Woodside Petroleum Ltd (WPL.AX) report profits in 2021 more than tripled to a seven-year high, prompting the firm to reward shareholders with a fatter than expected dividend.Shares…

Asian Refiners Eager to Resume Iranian Oil Imports as High Prices Bite

Feb 17, 2022

Asian refiners, traditionally big buyers of Iranian oil, are keen to resume imports from Iran if there is an agreement to revive a 2015 nuclear deal, which could pave the way for more supply on global markets and soften prices.Most Asian buyers halted Iranian oil imports in 2019 after former U…

IEA's Birol Urges OPEC+ to Narrow Gap Between Oil Targets and Production

Feb 16, 2022

The Organization of the Petroleum Exporting Countries (OPEC) and their allies, known as OPEC+, needed to narrow the gap between their oil production targets and actual output, the International Energy Agency's (IEA) head Fatih Birol said on Wednesday…

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