A global shortfall in crude oil supply is set to deepen in the third quarter as the world's top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push Brent towards $100 a barrel by the end of the year, analysts said…
Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group seeks to boost flagging oil prices.Saudi's energy ministry said the country's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May…
Norway's Equinor said on Friday it aims to restart production at the Statfjord A oil and gas platform in the North Sea next week, after it was shut down on May 25 due to a hydrogen sulfide gas leak. 'Production is planned to start again next week…
Trinidad and Tobago is requesting the U.S. government amend the terms of a license authorizing the joint development of a promising offshore gas field with Venezuela, the Caribbean nation's energy minister said on Thursday.The United States…
Norwegian offshore engineering and construction firm Aker Solutions and its compatriot oil and gas company Aker BP have agreed to extend a frame agreement for the provision of Subsea Production Systems until December 31, 2028. The original agreement…
Brazil's Petrobras may look abroad for future growth, two sources with knowledge of the state-run firm's plans told Reuters, after environmental regulators dashed its hopes of exploring near the Amazon River where it had aimed to make its first major domestic oil discovery in over a decade…
Valeura Energy said Thursday it had signed two key contracts relating to its Jasmine oil field offshore Thailand.Namely, Valeura’s charter of the field’s FPF-003 floating production storage and offloading vessel (“FPSO”), and a contract for…
Brazilian oil company Petrobras has started production from Almirante Barroso FPSO in the Búzios field, offshore Brazil.The FPSO has the capacity to produce up to 150 thousand barrels of oil and 6 million m³ of gas per day.FPSO Almirante Barroso…
The gas leak that occurred at the Hammerfest LNG plant at Melkøya in Norway on May 31 has been stopped, and normalisation is under way.Equinor’s emergency response organisation has been demobilised and the emergency services have left Melkøya…
India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day (bpd) from zero, according to a company presentation.ONGC hopes to reclaim…
French oil major TotalEnergies, operator of OML130 offshore license in Nigeria, confirmed Monday it had secured the renewal of the production license on this offshore block for 20 years.Located 150 kilometers off the Nigerian coast, the OML130…
Nigeria's state-owned oil company NNPC Ltd said on Thursday it had renewed a production sharing contract with Total, China National Offshore Oil Corp and others, a major step to resolving disputes on a deepwater oil block in the Niger Delta…
Norwegian oil and gas company Aker BP has awarded Heerema Vlissingen a contract for the procurement and construction of the Munin platform jacket in the Yggdrasil area, offshore Norway.“This is an important contract for the Yggdrasil development…
Oilfield services company TechnipFMC said Thursday it had secured an integrated engineering, procurement, construction, and installation contract with the oil giant Shell for its Dover development in the U.S. Gulf of Mexico. TechnipFMC said the contract was 'significant' in value…
Oil output at Kazakhstan's giant Kashagan oilfield fell this month after its operator shut two offshore injection wells on May 20 following the detection of sour gas during routine sampling, the company said on Thursday.The North Caspian Operating…
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