News

  • Offshore Guyana partners assess implications of heavy oil analysis

    Analysis of oil samples taken from the recent Jethro and Joe discovery wells offshore Guyana suggests that both fields contain heavy crudes with a high sulphur content.   Operator Tullow Oil and its partners are assessing the commercial viability, taking into account the quality of…

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  • Climate Change Expected to Shift Location of East Asian Monsoons

    More than a billion people in Asia depend on seasonal monsoons for their water needs. The Asian monsoon is closely linked to a planetary-scale tropical air flow which, according to a new study by Lawrence Berkeley National Laboratory (Berkeley Lab), will most likely shift geographically…

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  • Premier Oil announces trading and operations update

    Premier Oil has provided a Trading and Operations Update for the ten months to the 31st October 2019.   Highlights   Group production averaged 79.4 kboepd for the period with high operating efficiency of 94%; forecast full year production at upper end of 75-80 kboepd…

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  • Tamarind’s New Zealand subsidiary goes into voluntary administration

    The New Zealand subsidiary of Malaysia’s energy company Tamarind Resources has gone into voluntary administration due to an “unsustainable financial position.”   Tamarind said on the 12th November that Jason Kardachi and Mitchell Mansfield of Borrelli Walsh were appointed as administrators of Tamarind Taranaki on…

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  • EIA: Recent crude oil market risks starting to diminish

    Crude oil markets traded in a relatively narrow range in October following heightened volatility in September stemming from the attack on Saudi Arabian crude oil processing facilities.   Brent crude oil spot prices averaged US$60/bbl in October, down US$3/bbl from September and down US$21/bbl from…

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  • Quarters, helideck in place at offshore Cambodia oilfield barge

    Renovation and upgrading of the production barge continues at the Benoi yard and Gul dry-dock in Singapore.   New living quarters have been delivered and installed, along with the helideck and emergency diesel generator. The second and final dry-dock has been completed for all hull…

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  • Bolivia Crisis Thwarts Shell Gas Exploration

    Natural gas exploration by global oil companies in Bolivia, key to growing the country’s sagging economy, has stopped amid an escalating political crisis which has left the Andean nation rudderless.   Royal Dutch Shell Plc, Total SA and Repsol SA have all stopped or severely…

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  • Energy transition leads to seismic changes across upstream

    The energy transition is undoubtedly impacting corporate upstream strategies in significant and sometimes disruptive ways. Coupled with the post-2014 downturn in oil prices, Wood Mackenzie sees seismic changes in the way the industry allocates capital across development, exploration, and mergers and acquisitions.   While the…

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