As The Guardian reported earlier on Monday, Saudi Arabia said two of its oil tankers have been damaged in mysterious “sabotage attacks” in the Gulf, as the US secretary of state, Mike Pompeo, held emergency talks with his European counterparts about mounting tensions in the region. The United Arab Emirates...
Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with OPEC, then pumped some more. The country produced a record 11.356 MMbopd in September, according to data released Tuesday by the Energy Ministry’s CDU-TEK statistical unit....
Saudi Arabia's deputy defence minister, Khalid bin Salman, on Thursday accused Iran of ordering drones to attack two of its oil pipeline pumping stations that were claimed by Yemen’s Huthi rebels. Tuesday’s “attack by the Iranian-backed Huthi militias against the two Aramco pumping stations proves that these militias are merely...
Indian Oil Corporation (IOC) is discussing how it can raise oil imports from Russia by cooperating with Russia's state oil company Rosneft, IOC’s chairman Sanjiv Singh said at ADIPEC this week. IOC is India's largest refiner. IOC has so far imported insignificant volumes of oil from Russia, and is now...
Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slump that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting...
Uganda has put five new blocks on offer for its second licensing round in the Albertine Graben, according to an announcement by the Minister of Energy and Mineral Development Eng. Irene Muloni at the East African Petroleum Conference and Exhibition, Kenya. Muloni said Uganda was expecting many potential exploration companies...
Fugro is set to commence its first project using new multipurpose ROV support vessel, Edda Sun, with mobilisation for the IRM contract planned for March 2019. With a recently announced two-year charter of the Edda Sun, Fugro has enhanced its IRM, construction and decommissioning support services in Europe. The Edda Sun...
Kazakh oil to China has been reduced along the Atasu-Alashankou pipeline this week after tests carried out earlier in January showed a high content of organic chloride, three trade sources familiar with the matter told Reuters on Tuesday. Organic chloride found in the oil varied between 70 and 120 ppm...
The US shale production decline is likely to continue, despite a bounce back in demand since April, the height of the COVID-19 pandemic. The U.S. rig count is at its lowest since 2005; only 176 oil rigs are currently active nation-wide. Drilling permits in July dropped to their lowest level...
The well confirms a volume potential of 50-70 million recoverable barrels of oil. The discovery more than doubles the remaining oil reserves to be produced through the Norne field. Originally planned to be shut down in 2014, the productive life of Norne has already been extended to 2036, which will generate substantial...