OPEC forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China, and India.The Organization of the Petroleum Exporting Countries said in its monthly report that demand next year would rise by 3…
Jadestone Energy, an oil and gas production company focused on the Asia Pacific region, has received all the necessary approvals - including one from Petronas - to complete the acquisition of SapuraOMV's Peninsular Malaysia assets.Jadestone said in April it would acquire interests in four licenses…
Oil prices fell on Thursday, extending losses as investors braced for increased supplies after a compromise deal between leading OPEC producers and as U.S. fuel stocks rose, raising concerns over demand in the world's largest consumer.Brent crude dropped 52 cents…
Saudi Arabia and the United Arab Emirates have reached a compromise over OPEC+ oil policy, giving the UAE a higher production baseline and paving the way for extending a pact on remaining supply curbs to the end of 2022, an OPEC+ source said on Wednesday…
Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field developments, said Thursday that its FLNG Solution development had secured the Major Project Status (MPS) renewal from the Australian Commonwealth Government…
When the first gas from CNOOC Ltd's new ultra-deep field in the South China Sea started flowing in late June to the world's largest customized floating platform 1,500 meters above the sea bed, it marked a key phase in China's gas drive.For CNOOC…
A United Nations human rights investigator called on countries on Wednesday to impose economic sanctions on Myanmar's oil and gas sector to cripple the junta that took power five months ago.Myanmar has been in crisis since the military ousted Aung San Suu Kyi's elected government on Feb…
Royal Dutch Shell on Wednesday said it would boost its returns to shareholders via share buybacks or dividends after a sharp rise in oil and gas prices helped it reduce debt.It will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in the second quarter…
The United Arab Emirates on Sunday said it supported an increase in oil output from August but suggested deferring to another meeting a decision by OPEC+ on extending its global oil supply pact beyond April 2022, state news agency WAM reported…
OPEC+ agreed on Friday to add more oil to the market from August and extend the duration of their pact on their remaining production curbs for longer, even though the United Arab Emirates still opposed the extension, an OPEC+ source said.All OPEC+ deals require unanimous approval…
Malaysian FPSO provider Yinson has secured a contract extension for the PTSC Lam Son FPSO in Vietnam with Vietnam's PTSC AP.The 243 meters long Lam Son FPSO, able to produce 15,000-20,000 barrels of oil per day (bopd), with a storage capacity of up to 650…
Oil and gas companies Jadestone Energy and OMV New Zealand have given themselves more time to complete the transaction related to the Maari offshore field in New Zealand.Singapore-based Jadestone in November 2019 agreed to buy OMV's 69% operated interest in the Maari Project for $50 million…
Oil and gas major Chevron as the operator of the Gorgon gas project has, with its partners, agreed to proceed with the Jansz-Io Compression (J-IC) project, offshore W. Australia. The investment is estimated at around $4 billion (AU$6 billion)…
The OPEC+ group of oil producers meets on Thursday to decide on a further easing of output cuts next month and could also consider extending its overall supply pact beyond April 2022, sources within the group told Reuters.The group comprising…
Abu Dhabi National Oil Company (ADNOC) will reduce the volume of crude oil it supplies to Asian term buyers by 15% in September, according to six sources with direct knowledge of the matter.The cut was much deeper compared with a reduction of…
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