Brent crude oil prices settled below $77/bbl on the London market Oct. 23, which analysts attributed to traders’ concerns that worldwide oil demand is weakening amid ample crude supply even as US sanctions are fully implemented on Iranian oil exports in nearly November. Source: News
Finlaggan development receives UK approval
Zennor Petroleum Ltd. has received approval from the UK Oil & Gas Authority for its two-well development of Finlaggan gas and condensate field in the Central UK North Sea. Source: News
MARKET WATCH: Eyes turn to Saudis as Brent crude, WTI trend upward
Brent crude oil futures as well as light, sweet crude for November and December delivery were up slightly Oct. 22 as the market turned its eyes to Saudi Arabia. The kingdom plans to increase its crude oil output and does not intend to use its reserves as a political tool in the controversy over the […]
Petrobras, CNPC advance partnership on Comperj refinery, Marlim field
Petrobras and CNPC subsidiary China National Oil & Gas Exploration & Development Co. have signed an integrated project business model agreement to advance a previously announced plan with CNPC subsidiary China National Petroleum Corp. International for formation of a strategic partnership to complete the 150,000-b/d Comperj refining complex in Itaborai, Rio de Janeiro state. Source: News
FAR spuds Samo-1 wildcat offshore Gambia
FAR Ltd. reported the spudding of its much-anticipated Samo-1 wildcat well on Block A2 offshore Gambia. It is the first well to be drilled in the country’s offshore region for 40 years. The well is being drilled by Stena Drilling’s Stena Drillmax harsh-environment dynamically positioned DP Class 3 drillship in 1,000 m of water and […]
Inpex group ships first LNG from Ichthys project
The Inpex Corp.-led joint venture’s first cargo of LNG from the Ichthys project has been shipped from the onshore gas liquefaction plant in Darwin, Northern Territory. Inpex said the Pacific Breeze LNG carrier sailed from the terminal late on Oct. 22 bound for the Inpex-operated Naoetsu LNG receiving terminal in the Niigata Prefecture in Japan […]
Greater Buchan licensing round planned
The UK Oil & Gas Authority (OGA) plans a supplementary licensing round in the first quarter of 2019 for the Greater Buchan Area in the Outer Moray Firth offshore Scotland. Source: News
ExxonMobil lets subsea contract for Liza Phase 2
ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd. has let a contract to TechnipFMC for the engineering of the subsea system for the proposed Liza Phase 2 project on the Stabroek block offshore Guyana. Source: News
Watching Government: Still waiting in the wings
Federal oil and gas regulatory reforms continue at the US Bureau of Land Management, Environmental Protection Agency, and similar agencies under the Trump administration. Source: News
WoodMac: Asia-Pacific oil, gas industry set for rebound
The Asia-Pacific’s oil and gas industry looks set to rebound over the next 12 months as rising demand, stronger commodity prices, and an uptick in merger and acquisition activity bring greater confidence to the region, according to a recent report from Wood Mackenzie. Source: News