OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia. Major producers outside the Organisation of Petroleum Exporting Countries — including Mexico and Kazakhstan — met ministers from the cartel on the 23rd June…
Running against the tide of earlier opinions, the Australian Energy Market Operator (AEMO) has declared that the forecast domestic gas shortfall for Australia’s east coast predicted last year has been averted. The AEMO – a body established in July 2009 with membership made up…
Dutch offshore accommodation provider Chevalier Floatels has picked up a contract in the North Sea for one of its vessels. Chevalier said on the 22nd June that this latest deal was awarded to the company’s DP Gezina vessel. The company added that it…
Westwood’s latest World Oilfield Equipment Market Forecast sees further improvements in offshore E&P activity between now and 2022. In North America’s offshore market, the recent improvements in oil prices have boosted investor confidence, with total expenditure of US$28 billion anticipated over the forecast period,…
Mongolia launched construction of its first oil refinery on the 22nd June, a long-awaited project which is funded by India and designed to end the country’s dependence on Russian fuel. The ground-breaking ceremony was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister…
There is a lot of remaining oil and gas on the Norwegian Continental Shelf (NCS), which still provides significant opportunities in both mature and less explored areas. That is the view of the Norwegian Petroleum Directorate (NPD), which recently published its 2018 Resource Report…
NAM’s new three-well L13-FI gas platform development is onstream in the Dutch North Sea, according to Hague and London Oil (HALO). It should attain full production soon, ahead of the previous target (fourth quarter 2018) and under budget. Source: Offshore Magazine
Thick sea ice is impeding Arctic shipments of liquefied natural gas from Russia’s newly-built export plant in Yamal, Russia’s state-run nuclear-powered tanker company Rosatomflot said. Unseasonably severe ice conditions are also clogging routes to Asia through the Northern Sea Route (NSR), leading to the…
Latin America focused upstream oil and gas company, Echo Energy Plc, announced on the 21st June that a “significant light oil column” has been interpreted in the EMS-1001 well onshore Argentina. The well, located in the Fraccíon C licence operated by Compañía General de…
Italian oil company Eni is leaving the upstream sector in Croatia with the sale of Eni Croatia BV to MOL Group’s Croatian INA. Through Eni Croatia BV, Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. The…
