Oil extended gains from the highest close in more than three years as US industry data signalled crude stockpiles dropped an eighth week. Futures climbed as much as 1.1% in New York after rising 2.5% the previous two sessions. US crude inventories fell by…
Premier has provided the following Trading and Operations Update ahead of its 2017 Full Year Results which will be announced on Thursday the 8th March 2018. 2017 Highlights Full year production of 75 kboepd in line with guidance, up 5% on 2016 First…
Company (ADNOC) has awarded two front-end engineering design (FEED) contracts for an ultra-sour gas project related to the offshore Hail, Ghasha and Dalma fields. Bechtel (UK) has the Hail and Ghasha FEED contract and TechnipFMC (UAE) the Dalma FEED contract. In man-hours, ADNOC…
HPCL Rajasthan Refinery Ltd (HRRL), a 74-26% joint venture of Hindustan Petroleum Corporation Ltd (HPCL) and the state government of Rajasthan, will kick off construction activities in mid-January on the JV’s previously announced project to set up a nine million-tonne/year integrated refinery and petrochemical complex…
Karoon Gas Australia Ltd, Melbourne, has sealed a deal to bring Tullow Oil Plc, London, into its exploration venture offshore Peru. Tullow Oil will take a 35% interest in Karoon’s Block Z-38 in the Tumbes basin in exchange for funding about 44% of a…
London’s Brexit-Related Job Losses May Not Be as High as Initially Feared British banking, insurance and asset management job losses to the European Union due to Brexit might not be as heavy as initially feared, the City of London financial district said on the 8th…
Indonesia will open a tender in 2018 for the development of three pipelines to transport and distribute gas from the Natuna area to the island of Borneo, the chairman of the country’s downstream oil and gas regulator (BPH Migas) said on the 9th January. …
Malaysia’s Petronas has reportedly confirmed that it will exit from Iraq’s Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told a local newspaper: “Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with…
OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers which shuttle fuel between continents. The ships’ average earnings plunged last year by more than half to levels not…
Lundin Norway has permission to drill an appraisal well on the Luno II structure in the central Norwegian North Sea. Following authorisation from the Norwegian Petroleum Directorate, the semi-submersible COSLInnovator will drill well 16/4-11 in production licence 359, two kilometres (1.2 miles) south-east of…
