News

  • CNOOC aiming for 19 offshore field start-ups in 2021

    CNOOC achieved record high production last year of 528 MMboe.   This year the company is targeting 545-555 MMboe net, with China and overseas accounting for respectively 68% and 32%.   It also plans to drill 217 exploration wells and acquire around 17,000 square kilometres…

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  • Saudi Crude Gets Pricier for Some Buyers

    Saudi Arabia has kept oil pricing unchanged for its main market of Asia, defying expectations of a cut after a key OPEC+ committee expressed confidence that crude supply and demand are re-balancing.   State oil producer Saudi Aramco left its Asia pricing for March at…

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  • Neptune picks up permit for North Sea appraisal well

    The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy a drilling permit for an appraisal well offshore Norway.   The well 34/4-16 S will be drilled from the Deepsea Yantai drilling rig after drilling development wells on the Gjøa field.   The drilling programme for…

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  • Iraq Barters Heavy Fuel Oil with Lebanon

    Iraq’s Cabinet has agreed to supply 500,000 tons of heavy fuel oil annually to Lebanon.   According to a statement from Prime Minister Mustafa Al-Kadhimi, the oil will be paid for in a barter deal, in return for services, medical goods, medicines and consulting services….

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  • Offshore wind market set for record growth

    Despite the COVID-19 pandemic, the world’s installed offshore wind capacity rose by 15% in 2020, reaching 31.9 GW at year-end, from 27.7 GW at the end of 2019, according to Rystad Energy.   China was the main contributor in 2020, accounting for 39% of last…

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  • Gazprom and Hungary Expanding Cooperation in Gas Sector

    A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, has taken place via a video call.   The parties discussed the state and prospects of their cooperation in the gas sector….

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