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Woodside reports a considerable hike in profit category
Aug. 16, 2018
Source:

Woodside reports a considerable hike in profit

Australia's largest E&P Company, Woodside Petroleum Ltd reported a 6% rise in its half-year earnings backed by the effective performance of company’s Wheatstone and Pluto LNG projects. In the present financial year, i.e. 2018, the company expects the production to lie between 87 mmboe to 91 mmboe. Furthermore, the Wheatstone project is likely to add approximately 13 million barrels of oil equivalent to the annual output after becoming fully operational.

Swapping of assets likely between BP & ConocoPhillips category
May 18, 2018
Source: World Oil

Swapping of assets likely between BP & ConocoPhillips

The Houston-based E&P giant, ConocoPhillips is believed to be in contact with BP Plc to move forward with an asset swap deal. This agreement will eventually lead to BP taking over the Clair field asset, UK, while ConocoPhillips acquiring BP’s assets in the Alaskan region. However, no final resolutions have been reached between the companies and discussions might end with no results.

Drilling begins of first of four exploration well onshore Argentina by Echo Energy category
May 12, 2018

Drilling begins of first of four exploration well onshore Argentina by Echo Energy

Drilling of first exploration well in a four-well campaign in the Echo Energy plc’s Fracción C asset, onshore Argentina has commenced. The Company will update shareholders with progress on both the exploration drilling program and extended testing as the program advances.

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6 category
April 23, 2018
Source: World Oil

India-BP and Reliance announced sanctioning of Satellite Cluster project in KG D6

BP and RIL announced the sanctioning of the second of the three projects- Satellite cluster project- in Block KG D6. A total of about 3 Tcf discovered gas resources with a total investment of $6 billion is expected to develop out of these three projects phased over 2020-2022. Mukesh Ambani, chairman and managing director of RIL expressed his delight on the on-schedule progress of the project.

Petronet LNG and OVL together to pick stake in Qatar project category
April 11, 2018
Source: Economic Times

Petronet LNG and OVL together to pick stake in Qatar project

Petronet wants to collaborate with the overseas wing of India’s biggest explorer, ONGC Videsh Ltd., to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, as revealed by a top company official. It will be a maiden venture of Petronet in LNG E&P business and overseas LNG terminals.

PetroChina profit tripled-Net income jumped over 3 billion USD category
March 23, 2018
Source: World Oil

PetroChina profit tripled-Net income jumped over 3 billion USD

PetroChina’s net income jumped to $3.6 billion in 2017 as earnings from E&P overcame asset write-downs and losses from importing natural gas. Analysts are of the view that profit could have been very impressive if not for the large asset write-downs. Efficiency remains an issue, as total production has fallen even as spending exceeded the budget it set at the beginning of last year.

Expansion dream of Iraq faces threats as investor firms encounter service flaws category
March 17, 2018
Source: Shafaaq

Expansion dream of Iraq faces threats as investor firms encounter service flaws

Iraq’s aspirations of production expansion suffer as the global energy companies reduce their investments in the nation’s low-return environment. The leading oil firms that have previously invested an ample amount in Iraq are complaining about the technical service contracts offered by Baghdad, which happen to be too stringent and give a meagre return on investments.

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