Indonesia's first-quarter crude and natural gas production volumes missed their targets due to technical issues at wells and delays at BP's Tangguh liquefied natural gas (LNG) project, data from upstream oil and gas regulator SKK Migas showed.
Energy Voice considers the prospect of an oil supercycle and its potential supply crunch, rising demand, and triple digit oil prices.
CNOOC, China’s third-largest oil company, confirmed it has extinguished a fire at a platform on its Penglai fields in northeast China. The fire is expected to cut crude output at the Penglai 19-3 field by around 600,000 barrels this year.
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.
Indonesian national oil company (NOC) Pertamina is seeking to farm-down stakes in some of its key domestic assets taken over from international oil companies (IOCs) exiting 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.
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
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.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.
Offshore drilling activity on the UK Continental Shelf (UKCS) is expected to recover in 2021 with a dozen potential exploration wells identified.
Oil edged lower in New York, with OPEC and its partners engaging in a diplomatic push to agree on output levels before a key meeting on Thursday.
Shell chief executive Ben van Beurden said yesterday the “high point” for the Anglo-Dutch supermajor’s oil production had likely passed.
Reframing the debate: why we should be talking about how to improve exploration and production
The Norwegian Petroleum Directorate (NPD) today confirmed a fall in production.
Operators in the Gulf of Mexico have shut down more than 378,633 b/d of oil output, 21.64% of total Gulf of Mexico production, and 0.827 Bcf/d of natural gas output, 25.71% of production, according to a US Bureau of Safety and Environmental Enforcement survey Sunday.
Russia has thrown its weight behind the extension of oil output curbs, ahead of OPEC talks.
Iraq's oil exports averaged 3.252 million barrels per day (bpd) last month.
Enquest has posted its highest annual production since the company started seven years ago.
Production has been halted on the Goliat field in the North Sea once again.
Norway has increased its production output in November, according to the Norwegian Petroleum Directorate (NPD).
OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut -- and prove the group’s credibility -- brought about its first cuts in eight years, Bloomberg News reports.
The OPEC countries claiming exemption from a deal to limit oil production increased output by almost half a million barrels last month, potentially jeopardizing the group’s agreement unless other members deepen their own cuts.
The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
Official figures published yesterday reveal mixed fortunes for traditional fossil fuel and wind-energy output in the UK.