China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
The world’s energy consumption will change “profoundly” if it is to meet the Paris Agreement goals, Wood Mackenzie has said in a new report.
Malaysian national oil company (NOC) Petronas has hit oil at its North Madura II production-sharing contract (PSC) offshore East Java, Indonesia.
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Indonesia’s national oil company (NOC) Pertamina is preparing to take at least one of its business units public during the second-half 2021.
Sonangol posted net income of $125 million for 2019, while EBITDA reached $4.78 billion up 10% year on year.
As the Government of National Accord (GNA) makes gains in its military struggle with the Libyan National Army (LNA), the Sharara oilfield has restarted production, as has El Feel.
An armed militia in Libya has prevented maintenance work from being carried out on the Sharara field.
Repsol and the National Oil Corp. (NOC) are making progress with their plans to produce LPG at the Sharara oilfield, in southern Libya.
General Khalifa Haftar has declared that the Libyan National Army (LNA), which he leads, has the mandate to rule Libya.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
The Italian government has expressed its support for Claudio Descalzi to remain in his post as CEO of Eni despite misgivings voiced from a number of sources.
Libya’s National Oil Corp. (NOC) has reported revenues of $555 million in February, down 68.6% from January’s $1.21 billion.
Libya’s National Oil Corp. (NOC) has accused the United Arab Emirates of contravening the United Nations arms embargo by delivering fuel to Benghazi.
Libyan oil production has slipped below 100,000 barrels per day, the National Oil Corp. (NOC) has said, amid warnings of fuel shortages.
Libya’s production has fallen to 122,430 barrels per day as of February 23, the country’s National Oil Corp. (NOC) has said.
The port of Tripoli was struck by projectiles on February 18, Libya’s National Oil Corp. (NOC) has said, which nearly hit an LPG tanker.
Libya’s oil production has fallen to just over 260,000 barrels per day as a result of the blockade, imposed by the Libyan National Army (LNA).
As world powers met in Berlin to hash out a way forward in Libya, local pressures in the North African state took virtually all of its oil production offline.
While high-level meetings continue in trying to bring some sort of resolution to Libya’s conflict, the National Oil Corp. (NOC) has continued producing hydrocarbons and its commitment to transparency.
The civil war in Libya is escalating as mercenaries, supplied by Turkey, have been mobilised to support the Tripoli-based Government of National Accord (GNA).
Wintershall’s local subsidiary has signed two exploration and production-sharing agreements (EPSAs) with Libya’s National Oil Corp. (NOC) after compromising on licence terms.
Total has reached an agreement with Libya’s National Oil Corp. (NOC) on the French company’s acquisition of a stake in the Waha concessions.