The Kurdistan Regional Government paid international oil companies operating in the Iraqi autonomous region for a third consecutive month, disbursing funds that it says will allow production to be maintained.
INEOS has completed the purchase of the North Sea natural gas assets of DEA Deutsche Erdoel AG, which is owned by L1 Energy.
Transocean Ltd., the biggest offshore-rig operator, won a contract to drill four wells off Norway for Det Norske Oljeselskap ASA at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year.
The millionth tonne of oil has been produced at Prirazlomnoye field, Gazprom Neft, the field’s operator, said. Part of a consignment dispatched on the Mikhail Ulyanov tanker, it will be delivered to customers in North West Europe in early December.
First oil from Edvard Grieg field, in the Norwegian North Sea, was achieved on Saturday, Lundin Petroleum, the field's operator, said in a statement Monday.
Oil was little changed after its biggest monthly decline since July as OPEC ministers arrive in Vienna ahead of this week’s policy meeting.
The 2015 World Oil Awards honored those “Charting a Path to the Future” in the oil and gas industry.
The North American rig fleet decreases, as a large portion of idle rigs is taken out of commission. The global offshore mobile fleet has leveled off.
The successful installation and operation of the industry’s first subsea jet pump has allowed wells offshore Tunisia to produce well above the expected rate, which makes future consideration for this type of application even more likely.
With the industry facing low crude oil prices for the foreseeable future, the Middle East and North Africa (MENA) region remains an oasis of increasing oilfield activity, due to minimal lifting costs.
Mark Plummer: Entrepreneur and self-made man
A reason to smile
Data courtesy of Baker Hughes.
Market data is delayed and provided by Barchart.
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Over the last two years, we’ve seen a marked increase in the number of gas divestments taking place in Canada’s oil and gas sector.
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