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Oil & Gas Production News - page 4

 

Novatek, Glencore Ink Arctic LNG 2 Gas Supply Deal

Jun 02, 2021

Russian gas company Novatek has signed heads of agreement with Glencore for the long-term supply of LNG from the Arctic LNG 2 project.The agreement, signed Wednesday at Saint-Petersburg International Economic Forum, established the key commercial terms for the long-term supply of more than of 0…

Repsol Sells E&P Assets in Malaysia, Vietnam to Hibiscus Petroleum

Jun 01, 2021

Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.Repsol said that the sale of its upstream assets…

Petronas, TechnipFMC Sign Limbayong SURF Contract

Jun 01, 2021

Malaysian oil and gas company Petronas on Tuesday confirmed the contract award to TechnipFMC for the engineering, procurement, construction, installation, and commissioning for a subsea production system, umbilical, riser, and flowline (SURF) for its Limbayong deepwater development…

Sakhalin Energy Shuts Largest Offshore Platform for Maintenance

Jun 01, 2021

Russian oil and gas firm Sakhalin Energy has started its annual preventive maintenance campaign at Piltun-Astokhskoye-B (PA-B), the largest oil and gas production platform of the Sakhalin-2 project in the Russian far east.With the topsides installed on the base structure…

Brent Reaches $70, Highest Since March

Jun 01, 2021

Oil prices rose on Tuesday, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer.Prices were also boosted…

Petronas Says Demand Recovery Uncertain as 1Q Profit Doubles

May 31, 2021

Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic.Petronas said on Monday it made a post-tax profit of 9…

Iran Can Boost Oil Output to 6.5 mln bpd, Minister Says

May 31, 2021

Iran's oil output can easily reach 6.5 million barrels per day (bpd) when U.S. sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry's SHANA website.Zanganeh also said an increase in Iranian oil output would boost the country's political power…

TotalEnergies Says It Did All It Could to Limit Gas Field Revenues Reaching Junta in Myanmar

May 28, 2021

Energy giant TotalEnergies said on Friday it had gone as far as it could for now to limit the revenues going to the military junta in Myanmar while staying within a legal framework and assuring power supplies.Total and U.S. energy company Chevron…

Japan to Need Months to Resume Iran Oil Imports if Sanctions Lifted

May 28, 2021

Japanese refiners will need at least three months to resume Iranian oil imports even if Tehran's nuclear talks with world powers lead to an agreement and a lifting of sanctions, the head of the Petroleum Association of Japan (PAJ) said on Thursday…

Total, Chevron Stop Payments to Myanmar Junta from Offshore Gas Project

May 27, 2021

French oil and gas group Total and U.S. energy company Chevron have suspended some payments from a gas joint venture that would have reached Myanmar's junta, earning praise from pro-democracy activists for taking an important first step.International…

Shell Books Floatel's Accommodation Rig for Malampaya Work

May 26, 2021

Oil major Shell has chartered an offshore accommodation rig from the Swedish company Floatel for work in the Philippines.Floatel said Tuesday that Shell Philippines Exploration had awarded it a contract for the Floatel Triumph accommodation unit…

Abu Dhabi: ADNOC Awards NPCC $744M Belbazem Offshore Development Contract

May 25, 2021

Abu Dhabi's national oil firm ADNOC on Tuesday announced the award of a $744 million contract for the full field development of the Belbazem Offshore Block to the National Petroleum Construction Company (NPCC).The contract was awarded by Al Yasat Petroleum Operations Company Ltd (Al Yasat)…

Timor Leste: Santos Kicks Off Bayu Undan Infill Drilling

May 25, 2021

Australian oil and gas company Santos has started Phase 3C infill drilling program at the Bayu-Undan field, offshore Timor-Leste.Under the $235 million drilling program, sanctioned in January, Santos will drill three production wells and will develop additional natural gas and liquids reserves…

Oil Prices Rise on Potential Snag in Iran Talks

May 24, 2021

Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs said the case for higher prices remained intact even with increased Iran exports.Brent crude oil futures for July were 90 cents…

BW Offshore Orders Barossa FPSO Topside Modules from Dyna-Mac

May 24, 2021

Dyna-Mac, a Singapore-based firm building modules for offshore oil and gas facilities, has won a module fabrication deal with FPSO supplier BW Offshore.The contract, valued at S$197 million (around $148 million), is for the supply, fabrication…

Current News

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Exxon Considers Pledging Net-zero Carbon Emissions by 2050

Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls

Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls

Subsea Tech: Taking 3D Printing to the Seabed

Subsea Tech: Taking 3D Printing to the Seabed

Record-Breaking Platform Delivered to the Hod Field From Aker Solutions’ Yard in Verdal

Record-Breaking Platform Delivered to the Hod Field From Aker Solutions’ Yard in Verdal

Chinese Firms Seek LNG Cargoes, Demand is Strong

Chinese Firms Seek LNG Cargoes, Demand is Strong

ConocoPhillips Beats Estimates on Higher Prices, Output

ConocoPhillips Beats Estimates on Higher Prices, Output

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

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