Ecuador, one of OPEC’s smallest members, will leave the group in January as it seeks to increase revenue from crude oil sales. Ecuador has not been adhering to OPEC quotas as it seeks to boost production, which has held around 530,000 barrels a day…
Aker BP has been given consent to start up the Valhall West Flank platform in the North Sea offshore Norway. The Norwegian Petroleum Directorate said on the 2nd October that the start-up of the Valhall West Flank facility in the North Sea would take…
French power group EDF has said the new nuclear plant it is building at Hinkley Point C in south-western England will cost up to £2.9 billion more than previously estimated due to challenging ground conditions at the site. This raises its estimate for the…
Production is resuming at Hibernia oil field offshore Newfoundland and Labrador after a second shutdown forced by an oil release, Hibernia Management & Development Company Ltd, the operator has reported. Output ceased on the 17th July after a spill from a storage cell. The…
The oil and gas industry is making headway in realising the potential of IoT by making things much easier for companies to carry out their daily operations. Benefits of using IoT in oil and gas operations. Here’s how the use of IoT(the Internet…
Saudi Aramco is producing more than 9.9 million barrels a day of crude as it fully recovers from the worst ever attacks on its energy infrastructure. Output reached that level on the 25th September and is a “little bit” higher now, Ibrahim Al-Buainain, chief…
The delay of US military aid to Ukraine is a central pillar of the impeachment inquiry underway against President Donald Trump. The president is being investigated for the alleged withholding of nearly US$400 million in Congressionally approved support to Ukraine in an implied quid…
ConocoPhillips has completed its previously announced transaction to sell two ConocoPhillips United Kingdom subsidiaries to Chrysaor for US$2.675 billion, plus interest and customary adjustments. The transaction was announced last April and the completion was announced on the 30th September. Together, the subsidiaries indirectly held…
Sabah Shell Petroleum Company Ltd has completed the Gumusut-Kakap Phase 2 project offshore Sabah. This phase involved the drilling of four subsea wells tied back to the Gumusut-Kakap semi-submersible floating production system (GK-Semi FPS). At peak production, the four wells are expected to…
SBM Offshore is participating in a competitive sealed-bid process to purchase the equity ownership in the leases and operating companies related to five Brazilian FPSOs owned by Serviços de Petróleo Constellation SA. The auction consists of the minority stake held by affiliated companies of…
