The oil market is gradually returning to balance as OPEC reins in output and the US shale boom slows, according to executives gathered at Davos. Yet the risk of stalling growth in China continues to cloud the outlook. “The supply and demand looks balanced…
Lundin Norway has permission from the Norwegian Petroleum Safety Authority to drill two exploratory wells east of the Edvard Grieg field in the North Sea. The semi-submersible Leiv Eiriksson is due to start the programme on wells 16/1-31 S and 16/1-31 A next month…
CNOOC Limited is targeting a steady increase in oil and gas production during 2019 and the following years. On the 23rd January CNOOC announced its business strategy and development plan for the year 2019. The company said that its net production for 2018…
In a campaign it calls “Vote Energy,” the Canadian Association of Petroleum Producers calls for action in Alberta on market access, regulatory competitiveness, climate policy, and fiscal and economic policy. Among its recommendations are to complete six oil-export pipelines, including three now stalled. …
New South Wales has waved through another large-scale PV project, a 60MW concern being developed by Canadian Solar just outside of Narrabri, in the state’s north. The NSW Department of Planning and Environment reportedly green-lighted the US$82 million Narrabri South Solar Farm late last…
Block Energy, the exploration and production company focused on the Republic of Georgia, has announced that side-tracking operations from the existing 16a wellbore on the West Rustavi field has commenced. 16a is part of an initial two-well horizontal side-track drilling programme at West Rustavi…
The rise of US shale oil is choking off a historic gasoline trade, dealing a blow to European refineries which for decades have relied on American drivers to buy their excess supplies. Over the past month, tankers shipping European gasoline to the world’s biggest…
BHP’s first appraisal well on the deep-water Trion field offshore Mexico has encountered oil. The Trion-2DEL well started drilling last November in block AE-0093. A side track was spudded on the 4th January, the aims being to appraise the field further and to…
Oil and gas companies are expected to increase spending, grow workforce, and focus more on digitalisation and decarbonisation in 2019, according to a report by DNV GL. DNV GL said on the 22nd January that 70 percent of senior industry professionals it had interviewed for…
One of the largest financiers of global energy infrastructure, the European Investment Bank, has agreed a new €255 million long-term loan with the Greek Public Power Corporation (PPC), the largest power producer and electricity supplier in Greece, to upgrade electricity distribution across the country. …
