Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil field offshore Nigeria in February 2019, at an initial rate of just over 100,000 bpd, Bloomberg reported on Thursday, quoting a copy of a loading program for the new grade it had seen.
read more... 21/12/2018
Oil prices recovered on Wednesday, as demand for refined products strengthened. Consequently, Brent crude soared by 1.7% to $57.24 a barrel. Moreover, the strike on the Libya’s El-Sharara oilfield supported WTI crude, which traded 4.2% higher at $48.17 a barrel.
read more... 20/12/2018
Oil prices rose slightly on Tuesday, due to weaker equity markets and worries about a possible U.S. government closure following Trump’s declaration related to the Mexican Border Wall. Brent crude edged 0.4% higher at $60.2 a barrel. Additionally, Libya's National Oil Company (NOC) stated that a force majeure situation occurred at the nation's major oilfield. WTI crude soared by 1.3% to $51.65 a barrel.
read more... 12/12/2018
Royal Dutch Shell’s subsidiary Norske Shell has completed its previously announced NOK4.52bn ($526m) sale of its stakes in the Draugen and Gjøa fields located offshore Norway to OKEA.
read more... 04/12/2018
Romanian natural gas producer Romgaz will increase its output by the end of the year on the back of stepped-up pumping in the Caragele field, the company said on Wednesday.
read more... 29/11/2018