UK Oil Production Up 9% In First Quarter

31/05/2019 08:36 Oil Market

news

The UK’s crude and natural gas liquids (NGL) production increased by 9 percent annually to reach 1.18 million bpd in the first quarter of 2019, S&P Global Platts quoted statistics from the UK Department of Business, Energy & Industrial Strategy as showing on Thursday.

The UK’s crude oil production alone increased by 11 percent to 1.08 million bpd in Q1, according to the government statistics quoted by Platts—a welcome sign for the UK oil and gas industry which has managed to reverse a years-long downward trend in recent months, thanks to start-ups of projects in the North Sea.

 

According to the UK Department of Business, Energy & Industrial Strategy, provisional figures for 2018 showed that UK crude oil and NGL production rose by 8.9 percent compared to 2017, mainly due to multiple new projects on the UK Continental Shelf (UKCS) coming online in late 2017 and 2018 and increasing production through the year.

Source: oilprice.com

Eolus to sell 400MW Norwegian windfarm to Aquila Capital

16/07/2019 10:07:00

Eolus Vind has signed a share purchase agreement to sell its 400MW windfarm Oyfjellet in Norway to Aquila Capital for €30m.

<READ MORE

Romanian ambassador announces start of construction of Ungheni – Chisinau gas pipeline

16/07/2019 10:05:00

There have started the construction works of the Ungheni – Chisinau gas pipeline on all 07 sections. It was announced by Ambassador of Romania to Chisinau, Daniel Ionita.

READ MORE

Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

15/07/2019 10:29:00

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

READ MORE