Nigeria cut the price of every type of crude it sells in an effort to regain its share of the global oil market share at a time when there’s a “huge” glut of cargoes.
Eni announces that the naming ceremony of the Armada Olombendo FPSO vessel was held today in Singapore. The FPSO shall operate in Block 15/06, offshore Angola, for the East Hub Development Project.
Advances in directional drilling, logging while drilling (LWD) and well placement technologies have helped offshore operators reach new production targets, enabling wellbores to be threaded through geologically complex reservoirs and located many thousands of meters from a production platform.
Sasol recently announced the completion of the first-ever 3D onshore seismic program in Mozambique.
A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to the state, according to a court document.
Oceaneering International is expanding its presence for autonomous underwater vehicle (AUV) survey services to the West African region.
OPEC crude production rose to a record in September, according to a Bloomberg survey, driven by returning output from Libya and Nigeria, members who will likely be exempt from last week’s deal to cut supply.
The oil market gave the clearest sign yet that Nigeria’s Forcados crude is about to flow again for the first time in eight months, after Royal Dutch Shell was among companies said to have purchased the grade halted by militant attacks in February.
Facing the likelihood of its first full-year economic contraction in 25 years, Nigeria is contemplating a rare sale of stakes in the oil and gas industry, the country’s biggest foreign-exchange earner.
Eni has upgraded the potential of Baltim South West field to 1 Tcf of gas in place following the results of the Baltim South West 2X appraisal well, which was drilled immediately after the discovery well.
A tanker sailed from Libya with a crude cargo bound for Italy after a halt in fighting between rival armed forces enabled the OPEC country to resume exports from its third-largest oil port for the first time since 2014.
OPEC and oil-producing countries outside the group must find a way to cut crude supplies by 1 MMbpd to re-balance markets and stabilize prices, Algerian Energy Minister Noureddine Bouterfa said.
Sound Energy, the European and African focused upstream company, has announced that the second Tendrara well has now been drilled to the third and final casing point at an MD of 2,623 m and that operations have started to set and cement the 7-in. liner in the TAGI-I shale formation.
Eni has resumed exploration activities onshore Tunisia in the Sahara desert, approximately 700 km south of Tunis.
Oil rebounded from the lowest close in more than a month after clashes halted what would be the first crude shipment from Libya’s Ras Lanuf export terminal since 2014.
Amid the most enduring global oil glut in decades, two OPEC crude producers whose supplies have been crushed by domestic conflicts are preparing to add hundreds of thousands of barrels to world markets within weeks.
BP Exploration (Delta) Limited has ordered approximately 100 km of static umbilicals and associated accessories from Nexans for the next stage of the West Nile Delta project.
Libya’s plans to restore oil production suffered a significant setback after forces loyal to the eastern region’s powerful military commander ousted government-backed fighters from key export terminals, just days before a tanker was due to load the first shipment in nearly two years.
Output from Egypt’s Nooros field has reached 128,000 boed (700 MMcfgd) just 13 months after its discovery, Eni said in a statement announcing the production landmark.
Kuwait Energy has started production from the Al-Jahraa SE-1X well in the Abu Sennan concession in Egypt’s Western Desert.