Indonesia targets increased liquefied gas production, regulator says
Indonesia wants to increase its liquefied gas production by 1 million tons per year in order to reduce the amount of cooking fuel imported, said the head of Indonesia's upstream oil regulator on Tuesday. The new president Prabowo Subianto…
Shell's refining margins in the third quarter drop dramatically
Shell said that its refining profits fell sharply from the previous quarter to the third due to a slump in global demand. Its oil product trading earnings were also down, the company added. Shell's trading update, released ahead of its quarter-end results on October 31…
Indonesia approves Eni's Geng Nord gas project development plan
SKK Migas, Indonesia's upstream oil-and-gas regulator, said Friday that Indonesia had approved the plan of developments (POD) of the first phase for Geng North, an Italian Eni gas field in the Makassar Strait. SKK Migas confirmed that the POD approval included development of Gehem.
Dangote Refinery: Nigeria must enforce crude oil supply to local refiners
The Dangote Oil Refinery called on Nigeria's regulator of upstream oil to enforce a law which stipulates that producers supply local refineries. It said that the lack of enforcement increased its operating costs. The 650,000-barrel-per-day capacity refinery…
SLB Launches Cement-free System to Cut CO2 Footprint of Well Construction
Oilfield services giant SLB, until recently known as Schlumberger, on Monday introduced the EcoShield geopolymer cement-free system that it says minimizes the CO2 footprint of a well’s construction." This innovative technology eliminates…
Indonesia Produced 104.8 LNG Cargoes in Jan-June Period
Indonesia produced 104.8 standard cargoes of liquefied natural gas (LNG) from its Bontang and Tangguh LNG plants in between January to June. Susana Kurniasih, upstream oil and gas regulator SKK Migas' spokeswoman told Reuters.79 cargoes…
Shell to Write Down $22B in Wake of Coronavirus
Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.The impairments follow the Anglo-Dutch company's decision…
Deepwater Acreage to Attract Investments
Deepwater acreage will continue to attract significant company interest through 2020, said a report.According to GlobalData, a significant portion of the acreage available in Q1 2020 is located in either deep or ultra-deep water, up from the previous quarter.In Q1 2020…
TechnipFMC Shelves Spin-off Due to Market Turmoil
Franco-American oil services firm TechnipFMC Plc is putting on hold plans to split itself into two due to turbulence in financial markets linked to the coronavirus outbreak, it said on Sunday.The group, created three years ago via the merger of Technip and FMC, had been planning to separat
Offshore to Constitute 25% of Wind Demand
Offshore wind will constitute 25% of total wind demand in 2028, up from 10% in 2019 and will narrow the gap with offshore upstream oil and gas in terms of capital expenditure deployment, said the analyst firm Wood Mackenzie.The possibility of offshore wind becoming cheaper than coal…
Africa: Strong Scope for Offshore Licensing in 2020
Throughout 2019 Africa has led licensing round activity; looking forward to 2020 this is set to continue, however results of the recent rounds have had limited success in a global context.Eight licensing rounds are open or have closed…
Wison Begins Arctic LNG 2 Project
Wison Offshore & Marine (WOM), the upstream oil and gas division of Chinese conglomerate Wison Group Holding, announced the fabrication of Arctic LNG 2 Project (ALNG2 Project) commenced in Zhoushan Yard.The module fabrication contract was awarded by Technip France S.A.…
Indonesia Inks 20-year PSC for Corridor Block
Indonesia's government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources Minister Arifin Tasrif told reporters.The contract will extend by 20 years the current contract w
Sandvik to Supply OCTG for ADNOC
Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials, said it has entered into a long-term agreement with Tenaris to supply Oil Country Tubular Goods (OCTG) following…
West of Shetlands Ups Offshore Production
West of Shetland production likely to overtake North Sea for Shell and BP’s UK portfolios by 2020, said a report.Over the last four years oil and gas production in the West of Shetlands has risen and with that, a growing relevance for…
Kosmos Strikes Oil Off Equatorial Guinea
American upstream oil company founded and based in Dallas Kosmos Energy made an offshore oil discovery in Equatorial Guinea, Reuters reported quoting the Ministry of Mines and Hydrocarbons.The S-5 well was drilled at a total depth of 4…
Oilfield Services Firms Moving Beyond Oil
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers.
Angola Hopes Reforms Will Aid Oil Assets Sales
Angola is hoping sweeping economic reforms will smooth an ambitious plan to sell key state assets, including stakes in oil company Sonangol, a share of Puma Energy and more than 100 other enterprises.Africa's second biggest oil exporter…
Wintershall Dea Trims Norway Portfolio
Wintershall Dea has agreed to sell its stakes in Norway's Nyhamna gas processing terminal and the Polarled gas pipeline to CapeOmega and Solveig Gas to focus on its upstream oil and gas activities, the German oil and gas company said…
Var Energi Buys Exxon's Norway Assets for $4.5 Bln
ExxonMobil said on Thursday it will sell its Norwegian upstream oil and gas assets to independent exploration and production company Vår Energi for $4.5 billion as part of an ongoing large-scale global divestment plan.The deal, which is expected to close in the fourth quarter…
