New facies-first technique provides greater geo-model accuracy to optimize reservoir appraisal and assessment.Deriving facies models from the outcomes of seismic inversions, and their derivatives, has become standard practice in reservoir characterization workflows…
Algeria wants to have a new energy law ready by the first half of 2019 and might use Mexico's legislation as inspiration, the CEO of state energy firm Sonatrach said on Tuesday.The North African OPEC member has been preparing changes to its…
Wind turbine maker Siemens Gamesa announced a reshuffle of its top management on Tuesday, part of a bid to advance an ambitious cost-saving plan after a year-long board battle over issues ranging from suppliers to leadership.David Mesonero, currently managing director of corporate development…
Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist.International benchmark Brent crude for December delivery rose 9 cents…
Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister…
Russia's biggest independent oil producer Lukoil plans to start commercial oil production at its new Caspian field in 2023, the company said on Tuesday.Lukoil said it expected to reach peak production at the Rakushechnoye field of 1.2 million…
Shale producer Devon Energy on Tuesday forecast higher U.S. production for the third quarter from a year earlier, helped by an increase in output of natural gas liquids.Devon now expects output of about 418,000 barrels of oil-equivalent per day boe/d…
Wind turbine maker Siemens Gamesa announced a reshuffle of its top management on Tuesday, part of a bid to advance an ambitious cost-saving plan after a year-long board battle over issues ranging from suppliers to leadership.David Mesonero, currently managing director of corporate development…
The shelving of Spanish energy company Cepsa's initial public offering (IPO) may damage prospects for a string of oil-related companies planning to go public.Returning Cepsa to the Madrid stock exchange this week in a flotation valuing the firm at up to 8 billion euros ($9…
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
German oil firm Wintershall's flagship project in Norway - the Maria oil and gas field - is not meeting output expectations due to water injection issues, the company said on Monday.The field, which started nine months ahead of schedule at end-2017…
The Oseberg Vestflanken 2 field in the North Sea came on stream on Sunday. Remote-operated from the Oseberg field center, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf. Recoverable resources are 110 million barrels…
The amount of natural gas moving from British Columbia to Washington state through the Sumas hub edged up over the weekend after Enbridge Inc last week returned a pipeline to service following a pipe blast in British Columbia.The reduction in the amount of gas flowing through the point…
Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80…
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had 'slowed down,' as the company had not been able to reach an agreement on pricing with the Middle Eastern nation.'Qatar is still at a very preliminary stage…
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