After OPEC’s resolution to raise output by one million barrels per day, oil prices dropped on Monday. Brent crude edged 1.1% lower at $74.73 a barrel. Simultaneously, WTI crude was less bearish, settling 0.7% down at $68.08 a barrel, due to a temporary decline in U.S. drilling activity and a Canadian supply outage.
read more... 26/06/2018
ExxonMobil started development drilling on the Liza Phase 1 offshore Guyana with start of production expected in 2020, ExxonMobil said Tuesday.
read more... 14/06/2018
Oil prices retreated on Friday, pressured by growing Russian output and the highest in more than three years U.S. drilling activity. Brent crude dipped by 1.1% to close at $76.46 a barrel. West Texas Intermediate (WTI) crude contracts closed 21 cents lower at $65.74 a barrel, or about 0.3% loss.
read more... 11/06/2018
Bashneft International, a subsidiary of Russian state-owned oil company Rosneft discovered a new oil field in Iraq as a result of drilling of the first exploratory well at Block 12, Rosneft said in a press release.
read more... 24/05/2018
Vice-President for External Affairs of BP Company in Azerbaijan, Georgia and Turkey Bakhtiyar Aslanbeyli declared that BP Company intends to launch the drilling of the first well in promising structures in the shallow waters of Absheron Peninsula (SWAP) at the beginning of 2019.
read more... 07/05/2018