South Sudan’s optimism about restoring oil output to 350,000 barrels a day depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd. Crude production fell by about two-thirds to 130,000 barrels per day as blocks were…
Croatia has launched its second onshore licensing round. There will be seven blocks available in the licensing round, all located in Croatia’s prolific Pannonian basin which has produced more than 1.1 billion barrels of oil equivalent. The majority is oil and condensate. …
The revival of Nigeria’s state-owned refineries will happen a year later than expected after financing talks dragged on, according to the nation’s oil minister. Nigerian National Petroleum Corporation’s refineries, which have long operated at a fraction of their capacity after years of under-investment, began…
Abu Dhabi’s Supreme Petroleum Council (SPC) has approved ADNOC’s new integrated gas strategy and its plans to increase its oil production capacity to 4 MMb/d by end-2020 and 5 MMb/d by 2030. This will involve an increase in capital investment of AED486 billion (US$132.33…
Norway’s Equinor and its partners were the successful bidders for new exploration parcels in the prolific Jeanne d’Arc basin, offshore Newfoundland. Equinor said on the 7th November it will operate two exploration parcels, NL18-CFB01-14 (Equinor Canada 70%, Husky Energy 30%) and NL18-CFB01-15 (Equinor Canada 60%, Suncor Energy 40%), totalling 412,644 hectares (4,126 square…
Eni has signed an agreement with Angola’s national oil company Sonangol to expand the perimeter of the offshore Block 15/06. The block, where Eni made the Kalimba discovery in June, will now cover an additional area of 400 square kilometres on the west side. Eni…
Markel creates standalone marine/energy divisions as profit rises Specialist insurer Markel International has created two new standalone divisions for marine and energy, and appointed Chris Fenn and Julian Samuel as managing directors of the businesses. Markel claims to have seen impressive growth of its…
Miller unveils new equity partners as senior brokers retire Miller Insurance Services has made a series of senior appointments to replace a group of four long-serving executives that are retiring at the end of 2018. James Hands, Charles Lane, Phil Wheeler, Martin Henderson and…
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising US production and waivers for eight countries allowing temporary import of Iranian oil. Futures in New York fell as much as 0.9 percent…
UK’s oilfield services provider Wood and Azerbaijan’s Nobel Oil have entered into a joint venture agreement to provide engineering and operations support services to the oil and gas market in Azerbaijan. Wood said on the 7th November that the JV will combine its engineering…
