The U.S. Gulf of Mexico is positioned for another year of record oil production in 2020, despite massive cuts in investment.According to Rystad Energy, most of this growth coming from deep water projects.“2020 is expected to be another record year with average production above 1…
Oil and gas exploration and production company Eco Atlantic appears determined to make a breakthrough in its underexplored Namibian offshore assets after preliminary works in preparation for a deep dive it expects to take in the four offshore permits as early as October next year…
Total criticized on Thursday the European Investment Bank's decision to stop financing all fossil fuel projects including gas, saying companies that might switch to gas-fired power plants from heavy-polluting coal could now reconsider.'I think…
Neptune Energy said it has been awarded an exploration permit for block F5 in the Dutch sector of the North Sea from the Ministry of Economic Affairs & Climate Policy.The block is located 200 kilometers north of Den Helder and 25 kilometers southwest of the Neptune-operated F3-B platform…
Norway's oil production rose in October from the previous month, beating official forecast by 4.5%, while gas production continued to lag, the Norwegian Petroleum Directorate (NPD) said on Tuesday.Output from the giant Johan Sverdrup oilfield kicked in ahead of schedule last month…
Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.In its application to Cypriot authorities, it said it sought to supply gas through a pipeline from the Karish block offshore Israel to Vassiliko…
Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to…
Foreign oil companies that have not joined Brazil's last two auctions of offshore 'pre-salt' fields are also unlikely to bid next year, BP Plc's Brazil president told newspaper Valor Economico in an interview published on Wednesday.Adriano Bastos argued that…
Norway has approved energy firm Equinor's request to reduce the gas production quota at its Troll oil and gas field for the current year, the oil ministry confirmed on Monday.A ministry spokesman said the Troll gas output quota had been set at 36 billion cubic metres (bcm) for the gas year 2019…
Lower prices and increasing competition for investment are driving many African states to make it easier and cheaper for overseas companies to keep their oil and gas output flowing.From Ghana to Gabon, governments are adjusting terms to lure…
Woodside Petroleum on Friday raised its estimate for dry gas reserves at its Scarborough project, increasing hopes the development will help drive the company's growth in the next decade.Woodside said it now put the estimated gross contingent…
Brazil's state-run oil firm Petrobras, which dominated this week's disappointing offshore oil auctions, has no interest in farming out its Buzios block to be operated by another firm, its head of exploration and production said on Friday.Major…
Cyprus signed a 25-year concession on Thursday with a three-member consortium for the exploitation of a gas reservoir south-east of the island first discovered in 2011.The contract with Noble Energy, Shell and Delek is the first commercial exploitation licence signed by the Mediterranean island…
Oil rose above $62 a barrel on Thursday after China hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.China and the United States…
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA.The only block awarded in Thursday's bidding went to Petrobras…
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