Oil Field NEWS

First published in 2022, the ban concerns a poster seen in Bristol in southwest England, a TV ad and a video posted on Shell’s YouTube channel.

A “major pullback” in oil prices is a growing risk, according to Joseph Gatdula, the Head of Oil & Gas Research at BMI.

Geopolitics and the energy transition are the most pressing themes for the oil and gas industry in 2023, according to data and analytics company GlobalData.

The International Energy Agency (IEA) is still predicting record world oil demand this year, according to its latest oil market report (OMR).

Demand for oil, at least on the U.S. front, turned out higher than expected last week. But the real surprise, and no way that phrase could have been better defined, was in OPEC+ decision to add a cool 1.7 million barrels daily to its November announced cut of 2.0 million barrels per day.

Bond traders have painfully learned not to fight the Fed - now, OPEC+ is attempting to train oil traders not to fight its decisions.

Colombians protesting the poor state of roads took more than 80 police officers and oil workers hostage after raiding an oil field owned by a unit of China’s Sinochem Group, according to local media reports. A policeman and a civilian are dead.

Equinor and its partners in the Troll and Oseberg oil and gas fields in the North Sea are looking into possible options for building a one-gigawatt floating offshore wind farm, the Norwegian energy firm said on Friday. The project, named Trollvind, could provide much of the electricity needed to run the Troll and Oseberg fields through an onshore connection point, Equinor said. "Power from Trollvind could make a solid contribution towards electrification of of oil and gas installations, accelerate offshore wind development in Norway, and deliver extra power to the Bergen region," it said in a statement.

While the Ukraine crisis was raising anxiety about Europe’s dependence on Russian natural gas, something remarkable happened. Last month, for the first time ever, U.S. exports of liquefied natural gas to Europe exceeded Russia’s pipeline deliveries.

Petroleos Mexicanos discovered what’s expected to be a billion-barrel oil field in Tabasco as it aims to reverse a decade and a half of sinking production. “It’s a gigantic field,” said Romero, comparing it to the recently discovered gas and condensate fields Quesqui, with 900 million barrels of oil equivalent, as well as Ixachi, with 1.9 billion.

Jersey’s oilfield service provider, Petrofac, announced a series of well engineering procurement, also involving its work in the North Sea. Under this agreement, Petrofac will be the well operator for the Gannet E, Belinda and Evelyn fields.The contract is worth £15.3m. A 5 year well operator service contract with Tailwind Energy is a major part of these procurement.

In an attempt to develop and ramp up the production of the oil fields in Western Siberia, mainly in the Tomsk and Omsk Regions, a joint venture (JV) has been formed. Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment have entered into this joint venture. After this procurement Mubadala Petroleum and RDIF have 44% and 5% equity, while Gazprom Neft has 51% interest in the JV.

Anglo African Oil & Gas plc, which is an independent oil and gas developer, has decided to append drilling TLP-103 following some problem of topside. SMP is the drilling contractor of the company and has informed that the issue is affecting a rig offshore the Congo in Tilapia Field. The company is now working towards finding an optimal solution of the problem and is trying to avoid any further delay.

CNOOC Ltd., the Chinese oil firm, on behalf of its partners- Total SA and Tullow Oil, will most likely begin production at its Kingfisher field by 2021. Three years is a considerable time to develop the Kingfisher field which is one of the several in the Albertine Graben, a territory assessed to hold 6.5 Bbbl of oil. CNOOC plans to pump 40,000 bbl of crude a day from the field.