News
March 01, 2024
The group’s production rose by 110,000 bpd to 26.68 MMbpd as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests. Iraq pared supplies slightly but, along with the United Arab Emirates, continued to pump above a new quota set at the start of the year.
News
February 28, 2024
The new spending will occur during the next three to four years, a bp spokesperson said in an emailed response to questions. bp will continue to hold about 70% of its existing interests in Egypt outside the joint venture with ADNOC.
News
February 27, 2024
The company has booked 15 Tcf of raw gas and 2 Bbbl of condensate as proven reserves at Jafurah. It now estimates that Jafurah contains a total resource of 229 Tcf of raw gas, alongside an estimated 75 Bbbl of condensate.
News
February 26, 2024
Shipments from the Wafa oil field, which produces 40,000 to 45,000 bpd, are back up after being halted on Sunday as guards at the facilities demanded better pay, according to a person familiar with the operations.
News
February 22, 2024
TAG Oil has now commenced drilling the T100 horizontal pay zone section, which is expected to take up to approximately three weeks to complete the drilling of the planned 1,000-meter horizontal section and run the completion technolo
News
February 22, 2024
All but one of the firm’s operational rigs are currently deployed in Abu Dhabi, with most serving its parent company. However, by the end of 2024, the company will have enough rigs to deploy outside of the United Arab Emirates too, Salem said. It will spend $750-950 million to acquire 15 rigs this year.
News
February 19, 2024
Sea Horizon Offshore, with its broad network of local partners, will represent Jumbo Offshore to potential clients in the United Arab Emirates (UAE), Qatar, and Saudi Arabia.
News
February 15, 2024
The OPEC+ alliance, which is led by Saudi Arabia, agreed to slash production during the first quarter to avert a global oil surplus and shore up prices. While several countries appear to have complied, Baghdad and Astana were once again delinquent.
News
February 15, 2024
Palantir’s Foundry Platform and Artificial Intelligence Platform (AIP) will be deployed in a three-year agreement to help Bapco Upstream maximize its return on investment on energy production in the country and support its mission to connect the energy infrastructure of the Kingdom of Bahrain in an unprecedented way.
News
February 15, 2024
The industrial complex represents the first of its kind in the UAE to thread full-length premium connections aligning with Tenaris’s Rig Direct model. This model revolutionizes the tubular supply chain through digitalization, providing a distinctive blend of well-planning services, OCTG field management, and on-site running support.
News
February 14, 2024
bp will contribute its interests in three development concessions, as well as exploration projects in Egypt to the venture, according to a statement. ADNOC will provide cash to help fund future growth opportunities, the company said, without providing a value.
News
February 13, 2024
This year, net production in the North Sea is projected at 15,000-16,000 boepd; the bolt-on acquisition of a 25% stake in the producing UK field Arran will add another 2,000-2,500 boepd once completed. In Kurdistan, DNO expects gross operated production at the Tawke license to continue to average 80,000 boepd.
News
February 08, 2024
Petronet on Tuesday renewed a contract to buy 7.5 million tons of LNG annually from Qatar from 2028 for 20 years in one of the largest ever deals for the super-chilled fuel. The country has so far found buyers for just about half of its new supply and needs to tie down others to long-term deals.
News
February 01, 2024
McDermott has been awarded two contracts from North Oil Company (NOC) to deliver engineering, procurement, construction, installation and commissioning (EPCIC) for packages 11 and 13 of the Ruya Development Project, as part of the expansion of the Al-Shaheen field, Qatar's largest oil field.
News
February 01, 2024
Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA.
News
January 31, 2024
Project Ru’ya, which will develop more than 550 MMboe, will be executed over a period of five years, with first oil expected in 2027. The project includes the drilling of more than 200 wells and the installation of a new centralized process complex, nine remote wellhead platforms, and associated pipelines.
News
January 31, 2024
State-run Aramco announced on Tuesday that it’s pausing a 1 MMbpd capacity expansion scheduled for 2027, without providing any explanation. With a constrained outlook for oil demand and swelling oil-service expenses, the decision makes sense, Wood Mackenzie said.
News
January 30, 2024
The surprise move comes after the world’s biggest oil exporter had said in November that it was progressing “very well” with a multibillion-dollar project to boost capacity to 13 MMbpd by 2027 as demand in China and India continues to grow.
News
January 29, 2024
The White House blamed Iranian-backed militias for the assault on U.S. soldiers, which was denied by Tehran, while Houthi rebels claimed responsibility for the attack on the ship. Here’s what five oil analysts say about the outlook and impact on the oil market:
News
January 26, 2024
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to the Israel-Hamas war in Gaza.
News
January 26, 2024
Oil prices have so far shown a muted response to the additional 900,000 bpd supply reduction being undertaken by OPEC and its partners, which comes alongside geopolitical tensions including a conflict in the Middle East and attacks on shipping in the Red Sea.
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