First oil cargo was offloaded from the BW Offshore-owned FPSO BW Adolo located offshore Gabon on Sunday, the 2nd December. A total of 550,000 bbls of oil were transferred from the FPSO to a tanker which will transport the crude oil to a refinery,…
Qatar is set to leave the Organisation of Petroleum Exporting Countries, having joined the cartel back in 1961. The gas-rich country’s oil and gas company Qatar Petroleum announced the decision on the 3rd December. “Qatar announces it was withdrawing from the Organisation of…
Iraq’s Ministry of Oil has announced interim oil exports for November of 101,156,808 barrels, giving an average for the month of 3.372 million barrels per day (bpd), a decrease from the 3.478 bpd exported in October. These exports from the oilfields in central and southern…
Oil is on track for its worst month in a decade on growing fears over a global supply glut which has been exacerbated by American waivers to Iranian crude buyers. Futures in New York are set to drop about 21 percent in November, falling…
A/S Norske Shell has completed the sale of its interests in the Draugen and Gjøa fields offshore Norway to OKEA for NOK4.52 billion (US$526 million). These comprised a 44.56% operated stake in Draugen and 12% (non-operated) in Gjøa, collectively comprising 14% of A/S Norske…
UK-listed Serica Energy has completed the acquisition of interests in the Bruce, Keith, and Rhum (BKR) fields and associated infrastructure in the UK North Sea from BP and the acquisition of interests in Bruce and Keith from Total, BHP, and Marubeni. Serica’s completion of the BP…
Equinor produces an energy perspective study each year. It illustrates the forward uncertainty using three scenarios. These scenarios differ in their assumptions of economic growth and decarbonisation, geopolitics and corporation amongst other things. Under all scenarios, they expect renewable energy to be the fastest…
Vermilion Energy Inc has assumed operatorship of the Corrib natural gas project offshore Ireland following the close of Shell Overseas Holdings Ltd’s sale of its 45% interest in the project to Nephin Energy Holdings Ltd (NEHL), a wholly owned subsidiary of Canada Pension Plan Investment…
Adrian Lara, Senior Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the impact on the upstream sector: “A direct consequence of the excess of natural gas supply is the low prices at which Permian gas is…
The UK is expected to spend US$19.5 billion (£15.3 billion) on decommissioning over the next decade, according to a new report from industry body Oil & Gas UK. Well plugging and abandonment makes up 49 percent of the forecast expenditure, Oil & Gas UK’s…
