The first shipment of oil produced from the Oryx field in Chad operated by CPC Corp. Taiwan arrived in the southern port city of Kaohsiung Nov. 30, marking a milestone in the state-owned company’s overseas operations.   At a ceremony celebrating the occasion, CPC Chairman Jerry Ou said the batch of 950,000 barrels is the […]

Seplat Petroleum Development Company a Nigeria based exploration and Production Company has announced a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited (Waltersmith). The CPA is for the supply of between 2,000 and 4,000 bopd from existing working-interest production from the Ohaji South Field within OML53, for Waltersmith’s new 5,000 bopd modular refinery at […]

Eni has signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3, leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) with the remaining 30% stake.The block has been awarded following Abu Dhabi’s second competitive block licensing round aimed […]

PETRONAS through its subsidiary, PETRONAS Suriname E&P B.V. (PSEPBV) today announced that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52.  PSEPBV is the operator of Block 52 and holds 50 per cent participating interest, together with ExxonMobil Exploration and Production Suriname […]

The Abu Dhabi National Oil Company (ADNOC) has announced the signing of an exploration concession agreement, awarding the exploration rights for Abu Dhabi Onshore Block 5 to Occidental, a US-based international oil and gas exploration and production company.  The award has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC) and follows the SPC’s endorsement […]

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the volume of oil deposits Nigeria holds declined by 2.16 per cent between 2018 and 2019 and is now 36.89 barrels (bbls). As reported In NNPC’s Annual Statistical Bulletin (ASB) for 2019 which was obtained by THISDAY, the corporation noted that, While the country’s oil deposit […]

Rio de Janeiro, 15 October (Argus) — Brazil’s state-controlled Petrobras only expects to sign one refinery sales agreement by year-end, rather than five as originally targeted, a senior company executive familiar with the process tells Argus. The delay stems from scheduling problems associated with the Covid-19 pandemic, oil market volatility, and a court challenge  recently decided in […]

Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said as reported by Oil & Gas 360. The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year […]

…….As crude oil price rallies A strengthening Hurricane Delta dealt the greatest blow to U.S. offshore Gulf of Mexico production in 15 years, halting most of the region’s oil and nearly two-thirds of its natural gas output MarineLink reported. An already large and powerful storm, Delta could intensify further on Friday as it churns through […]

Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks. As of 10:37 a.m. EDT on Tuesday, WTI […]