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Oil & Gas Production News

 

OPEC+ Bets Crude Oil Demand will Recover as Fast as Output Returns

Apr 06, 2021

The move by the OPEC+ group of oil exporters to ease their output restrictions from May onwards is effectively a bet that the current soft demand for crude will improve at the same pace as production returns.If history is a guide, it will be extremely difficult to get that balance correct, especially in the wake of such a large disruption to the global oil market as the coronavirus pandemic.With the impact of the pandemic still evident…

Total Won't Stop Gas Production in Myanmar. Says Abandoning Offshore Field Would Hurt Workers, Cities

Apr 05, 2021

French oil and gas group Total said it would not stop producing gas on its Yadana fields in Myanmar as long as operations remained safe, in part to protect employees there who might otherwise risk repercussions from the military junta.Total…

Indian Oil Corporation Buys Its First Johan Sverdrup Crude Cargo

Apr 05, 2021

State-run refiner Indian Oil Corporation (IOC) has made its first purchase of Norway's Johan Sverdrup crude, buying four million barrels via a tender as it speeds up diversification of crude imports, two trade sources told Reuters on Monday…

Petronas Declares Force Majeure on Offshore Field in Myanmar

Apr 05, 2021

Malaysia's state energy firm Petronas said on Friday that its Myanmar unit had declared force majeure on its Yetagun field on Thursday due to depletion of gas production.The decision came after challenges that resulted in the production rate…

Floating Production Systems Market Bounces Back on Recovering Oil Prices

Apr 02, 2021

Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating…

Low Output from Cambodia's First Offshore Oil Field Hits KrisEnergy's Restructuring Plans

Mar 31, 2021

Production from the Apsara field, Cambodia's first producing offshore oil field, has been below expectations, and will almost certainly not meet the pre-development forecast of peak production of 7,500 bopd, according to KrisEnergy, the operator of the project…

CNOOC to Start Production from Lingshui 17-2 Offshore Field in H1 2021

Mar 26, 2021

China’s offshore oil and gas major CNOOC Ltd is expected to start production at Lingshui 17-2, a large deepwater natural gas deposit in South China Sea, in the first half of 2021, the company executive said on Thursday.Lingshui 17-2 is CNOOC’s first fully-owned deepwater gas project…

First Crude Cargo from Guyana to India Sets Sail

Mar 24, 2021

The first cargo from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from a production facility off the South American nation's coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday…

Petronas Carigali Hires Uzma for Wireline Logging Services Off malaysia

Mar 23, 2021

Malaysian oilfield services company Uzma has won a contract with Petronas Carigali for electric wireline logging services.Uzma said it would provide non-rig assisted electric wireline logging services for Petronas Carigali for a period of three…

Indian Refinery Buys Brazilian Tupi Crude

Mar 22, 2021

India's Mangalore Refinery and Petrochemicals Ltd has bought its first-ever cargo of Brazilian Tupi crude oil in a tender, two industry sources said on Monday.The 1-million-barrel cargo was sold by Royal Dutch Shell for May delivery, he added…

Oman: Masirah Oil Upgrades Yumna Field Facilities. Output Grows

Mar 17, 2021

Oil company Masirah Oil said Wednesday it had upgraded process facilities at the Yumna field, offshore Oman.The upgrade has more than doubled the liquid handling capacity on the Mobile Offshore Production Unit (MOPU) to 30,000 barrels per day…

Shell Looking to Sell Interests in Malaysian Offshore Blocks

Mar 15, 2021

Oil major Shell is exploring options to sell its non-operated interests in the Amended 2011 Baram Delta EOR Production Sharing Contract (PSC) and the SK 307 PSC, offshore Malaysia.The assets located offshore Sarawak, Malaysia, are operated by…

CNOOC Starts Production from Caofeidian 6-4 Offshore Oil Field

Mar 15, 2021

China's CNOOC on Monday said it had started production from the Caofeidian 6-4 offshore oil field in the Bohai bay, China.The Caofeidian 6-4 oilfield is located in the Midwest of Bohai, with an average water depth of about 20 meters. 'In addition…

Oil Prices: Brent Hits $70

Mar 15, 2021

Oil prices rose on Monday, with Brent reaching $70 a barrel, as data showed China's economic recovery accelerated at the start of 2021, boosting the energy demand outlook at the world's largest oil importer.Brent crude futures for May were steady at $69…

Oil Surges After OPEC+ Extends Cuts

Mar 05, 2021

Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68…

Current News

Boskalis Serves MMHE with Arbitration Notice, Seeking $12M for Bokor Project Delays

Boskalis Serves MMHE with Arbitration Notice, Seeking $12M for Bokor Project Delays

Emperor Energy Buys Judith Field Seismic Data. Gets More Time to Find Drilling Partner

Emperor Energy Buys Judith Field Seismic Data. Gets More Time to Find Drilling Partner

China: CNOOC Searching for Three Missing After Fire on Offshore Platform Doused

China: CNOOC Searching for Three Missing After Fire on Offshore Platform Doused

Velesto Secures 7-well Drilling Deal with Shell in Malaysia

Velesto Secures 7-well Drilling Deal with Shell in Malaysia

Australia: Santos Looking to Sell Down Stake in Dorado Offshore Oil Project

Australia: Santos Looking to Sell Down Stake in Dorado Offshore Oil Project

In Break with Rivals, Oxy CEO Says Carbon Tax Would be 'Bad'

In Break with Rivals, Oxy CEO Says Carbon Tax Would be 'Bad'

Chevron, Hokkaido Gas Ink LNG Supply Deal

Chevron, Hokkaido Gas Ink LNG Supply Deal

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