Latest news
Shell completes Caesar-Tonga sale to Equinor
Shell announced it had signed an agreement to sell its interest in the Caesar-Tonga asset to Israel’s Delek in April 2019. Subsequently, Norway’s Equinor exercised its right of first refusal under the joint venture operating agreement.
read more... 31/07/2019
Equinor makes small oil discovery at Utsira High in North Sea
The small oil discovery has been made in the Lille Prinsen Outer Wedge well, located about 1km west of Lille Prinsen Main, where oil was discovered in 2018.
read more... 30/07/2019
Saudis To Boost Oil Pipeline Capacity To Bypass Strait of Hormuz
Saudi Arabia is looking to raise the capacity of its east-west oil pipeline to 7 million bpd in two years from the current 5 million bpd, the Kingdom’s energy minister Khalid al-Falih told Reuters on Thursday.
read more... 26/07/2019
Lukoil begins offshore drilling at its Romanian Black Sea perimeter
Lukoil, the third investor interested in the Romanian Black Sea gas (after OMV Petrom and Black Sea Oil and Gas controlled by investment fund Carlyle), will start drilling operations this autumn after obtaining the necessary permits, Economica.net reported.
read more... 25/07/2019
Global oil consumption stagnates leaving prices under pressure
Global oil consumption has stalled since the middle of 2018, making lower oil prices inevitable despite the best efforts of Saudi Arabia and its allies to reduce production.
read more... 24/07/2019