Tag: oil industry

• Tuesday, March 15th 2022 - 09:37 UTC

  PM Johnson hosted a roundtable of leaders in the UK’s offshore oil and gas industry

  

  Prime Minister Boris Johnson hosted on Monday a roundtable of leaders in the UK’s offshore oil and gas industry today to discuss domestic energy security. This is part of a series of engagements by the Government across the UK’s energy sectors, including with renewable and nuclear companies in the coming days and weeks.

• Thursday, December 9th 2021 - 09:49 UTC

  Fresh air for Falklands' oil industry: Navitas to become operator with Rockhopper, and Harbour exits

  

  Encouraging news for the Falkland Islands budding hydrocarbons industry. Rockhopper Exploration officially announced on Wednesday that it had reached a new agreement with Navitas Petroleum by which its potential farm-in portion of the Sea Lion project increases significantly, while the current holder of the majority share, Harbour Energy exits the undertaking.

• Friday, September 24th 2021 - 09:12 UTC

  Oil company lifts all South Atlantic operations, future of project in Falklands now reshaped

  

  A hydrocarbon development project in the Falkland Islands faces new challenges following the announcement of one of the companies involved that it shall be lifting all South Atlantic operations.

• Wednesday, September 22nd 2021 - 08:30 UTC

  Shell Oil is selling its US Permian assets to ConocoPhillips

  

  By Irina Slav for Oilprice.com – Oil super-major Shell is leaving the Permian with a divestment worth close to US$10 billion. The company said it will sell its assets in the shale play to ConocoPhillips for a total price of US$9.5 billion.

• Thursday, September 16th 2021 - 09:20 UTC

  Beijing releases oil from its strategic reserve to stabilize China's market and guarantee energy security

  

  By Irina Slav for Oilprice.com – China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move Bloomberg called “an unprecedented intervention.”

• Thursday, September 2nd 2021 - 09:32 UTC

  OPEC and Russia keep steady on original plan; ignore US request to pump more oil

  

  The Organization of Petroleum Exporting Countries plus a group led by Russia, OPEC+1 ignored requests from United States president Joe Biden and agreed on Wednesday to continue raising oil output in measured steps as originally agreed.

• Monday, July 19th 2021 - 09:11 UTC

  OPEC and Russia+10 will increase output, 400,00 bpd, as of August first

  

  The world's leading oil-producing countries agreed on Sunday to continue with the gradual increase of output, 400,000 barrels per day, beginning August first, to help global economic recovery following the pandemic, according to a release from the group's meeting in Vienna.

• Thursday, July 8th 2021 - 09:48 UTC

  Three companies (two UK and one Israel) involved in Falklands' oil industry, added to Argentina's sanctions list

  

  Argentina announced it has launched a sanctions process against several foreign oil companies, the UK based Chrysaor Holdings Ltd, Harbor Energy Plc, and Israel's Navitas Petroleum for involvement in hydrocarbons activities, with illegitimate Falkland Islands licenses, in the Argentine continental shelf, more precisely at the Sea Lion project in North Malvinas basin

• Thursday, October 29th 2020 - 08:28 UTC

  Petrobras cutting losses as Brazilian economy and fuel demand are increasing

  

  Brazil's state-run oil giant Petrobras announced on Wednesday it reduced its losses in the third quarter of the year, the company's third negative result in a row due to the global economic meltdown caused by the coronavirus pandemic.

• Monday, October 5th 2020 - 09:58 UTC

  Guyana's big profits dreams crushed by the pandemic and the “resource curse”

  

  By Amy Myers Jaffe (*) – This year was supposed to bring great things for Guyana. ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in 2015, and Guyana sold its first cargo of crude oil this February. As production ramps up, its first stage offshore wells were projected to produce 750,000 barrels a day by 2025, tripling the size of Guyana's economy, from US$ 3,4 billion to US$ 13 Billion.