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Daily (03.07.2019): Crude oil prices fell by over 4% on Tuesday, weighed by demand worries
Crude oil prices posted an important loss on Tuesday, pressured by global oil demand concerns raised by weaker factory activity in Europe and Asia in June as well as by downbeat U.S. manufacturing data nearing a three-year low. Moreover, investors seemed to be rather disappointed that OPEC didn’t agree on larger output cuts. As a result, WTI futures plunged by 4.8% to $56.25 a barrel, while Brent crude tumbled by 4.1% to $62.40 a barrel.
read more... 03/07/2019
Lundin makes two oil discoveries near Edvard Grieg field offshore Norway
Lundin Petroleum has confirmed more oil reserves in the PL338 license on the Utsira High on the Norwegian continental shelf through the drilling of the 16/1-31 S (Jorvik) and (16/1-31 A) Tellus East exploration wells.
read more... 21/06/2019
PGNiG on route to production form Ærfugl gas reservoir in Norwegian Sea
The first well is expected to start production in June 2020. By the end of the year the next three wells will commence production. The Ærfugl project will be developed using innovative technical solutions.
read more... 06/06/2019
Daily (24.05.2019): WTI futures slumped by 5.7% on Thursday, amid growing U.S.-China trade concerns
Crude oil prices plunged on Thursday, heading for a 6-month low, weighed by fears that the prolonged trade dispute between U.S. and China is turning into a technology cold war, or a threat to the global economic growth. Weaker U.S. data, swelling U.S. crude inventories and softer global demand outlook due to the easing U.S.-Iran tensions put more pressure on prices. WTI futures plummeted by 5.7% to 57.91 USD/bbl, while Brent crude price dipped by 4.6% to 67.76 USD/bbl.
read more... 24/05/2019
Zennor completes North Sea wells
Independent UK oil and gas firm Zennor Petroleum announced Tuesday the completion of drilling and testing operations at the Finlaggan field in the North Sea, Kallanish Energy reports.
read more... 22/05/2019