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Oil & Gas Production News - page 5

 

As Iran Eyes End of Oil Export Sanctions, will Former Asia Clients Buy?

May 21, 2021

As Iran gears up to resume oil exports once the United States lifts trade sanctions, former key clients in Japan, South Korea and Taiwan say they'll wait for the U.S. green light before investigating terms under which they might buy Iran's oil again…

Indian Refiner Says will 'Definitely' Buy Iranian Crude if Sanctions Lifted

May 20, 2021

Indian Oil Corp, the country's top refiner, said on Thursday it would resume purchases of Iranian oil if Washington lifts sanctions against Tehran over its disputed nuclear program.The European Union official leading talks to revive Iran's nuclear…

The Philippines: Shell to Sell Malampaya Field Stake to Udenna for up to $460M

May 20, 2021

Oil and gas giant Shell has struck a deal to sell its subsidiary Shell Philippines Exploration B.V. (SPEX) to Udenna Corp's subsidiary Malampaya Energy XP.SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field…

Bumi Armada, Shapoorji Pallonji JV to Set Up FSRU in Mumbai Harbour

May 19, 2021

Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour.SP Armada Clean Energy Ventures Private Limited (SPACEVPL)…

IEA: New Fossil Fuel Investments Must Stop If We Want to Meet 2050 Net-Zero Target

May 18, 2021

Investors should not fund new oil, gas and coal supply projects if the world wants to reach net-zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, in the top global watchdog's starkest warning yet to curb fossil fuels…

Petropars to Develop Farzad B Offshore Gas Field in Iran

May 17, 2021

Iran has signed a $1.78 billion contract with Petropars Group to develop the country's Farzad B gas field, Oil Ministry website SHANA said on Monday, after the failure of talks with Indian companies to develop the offshore site.Under the deal…

V-shaped Recovery: Inpex Lifts Profit Guidance for 2021 by 40%

May 13, 2021

Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2021 by 40% on Thursday thanks to higher than expected oil prices but left its capital expenditure plans unchanged so it can repay more debt.Inpex is now forecasting a net profit of 140 billion yen ($1…

Australia: Gov't Stuns Oil Firms with Levy to Decommission Abandoned Timor Sea Field

May 12, 2021

Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…

BW Offshore Taps NOV's APL for Barossa FPSO STP System

May 11, 2021

FPSO specialist BW Offshore has awarded NOV's APL a contract to supply a large submerged turret production (STP) system for the FPSO to be deployed at Santos' Barossa gas and condensate field located offshore of Australia.The Barossa field is…

Saudi Aramco Sees 30% Rise in 1Q Profit

May 04, 2021

State-run oil producer Saudi Aramco beat analysts' forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices.Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices…

Eni, Santos Eyeing Upstream, CCUS Collab

May 03, 2021

Italian oil company Eni and Australia-based Santos on Monday agreed to jointly seek cooperation opportunities in Australia and East Timor.Under the non-binding memorandum of understanding, the companies will look at potential optimizations, synergies…

Market Signals Fast Rebound in Floating Production Orders

Apr 28, 2021

The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER)…

Eni Starts Gas Production at Merakes Project off Indonesia

Apr 27, 2021

Italian supermajor Eni said it has commenced gas production from the deepwater Merakes project, located in the East Sepinggan block in the Makassar Strait, offshore East Kalimantan, Indonesia.The development sits in approximately 1,500 meters water depth in the Kutei Basin…

Indonesia's First-quarter Oil, Gas Liftings Miss Targets

Apr 26, 2021

Indonesia's first-quarter crude oil and natural gas liftings missed their targets because of technical issues at wells and postponements at a liquefied natural gas (LNG) project, data from upstream oil and gas regulator SKK Migas showed on Monday…

Chevron Lobbies U.S. Officials to Protect its Energy Interests in Myanmar, as Sanctions Pressure Rises

Apr 22, 2021

U.S. oil giant Chevron Corp lobbied lawmakers and government officials to protect its energy interests in Myanmar during the first quarter, as the administration of President Joe Biden comes under pressure to impose sanctions against the south Asian country’s military junta…

Current News

Exxon Considers Pledging Net-zero Carbon Emissions by 2050

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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