Tag: oil

Thursday, February 3rd 2022 - 09:51 UTC
OPEC+ confirms March output increase; oil remains bullish at US$ 90 since several members can't deliver

By Tsvetana Paraskova for Oilprice.com – In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (BPD) in March, keeping unchanged the plan to boost output and pushing Brent above US$ 90 per barrel again with the per-usual modest production hike.
Thursday, February 3rd 2022 - 09:33 UTC
Further oil and gas discovery off the coast of Guyana

More oil reserves discovered in Guyana, Canada's CGX Energy reported that together with parent Frontera Energy discovered an oil and gas reservoir off the coast of Guyana and anticipated drilling on a second well could begin later this year.
Wednesday, February 2nd 2022 - 11:58 UTC
Falklands' Sea Lion project, Rockhopper, Harbour and Navitas extend heads of terms to 31 March 2022

Rockhopper Exploration, Harbour Energy, and Navitas Petroleum have extended the provisions of their previously signed heads of terms concerning the Sea Lion project offshore the North Falkland Basin. The new deadline is March 31, 2022: the aim is to sign definitive documentation on the transaction by this date. Harbour plans to exit operations offshore the Falklands, leaving the other two partners to take the development forward.
Thursday, January 20th 2022 - 20:16 UTC
December 2021 marks record oil output for Argentina in last 9 years

In the last month of 2021, Argentina has recorded a total oil output of around 559,000 barrels per day (BPD), thus reaching the highest production for the country over the past nine years, it was reported Thursday.
Tuesday, January 18th 2022 - 20:37 UTC
COVID-19 and military unrest drive price of Brent crude up

The international price of Brent crude Tuesday rose by 1.6% to nearly US $ 88 per barrel, its highest mark since late 2014, amid numerous problems regarding supply due to both the COVID-19 pandemic and also warlike episodes in the Middle East, it was reported.
Wednesday, January 12th 2022 - 20:54 UTC
Venezuela resumes crude exports after nine months

Venezuela's state-run PDVSA will begin exporting diluted crude oil (DCO) this week after a nine-month stoppage, it was reported in Caracas. The last time PDVSA shipped diluted crude to Asia was in April last year.
Tuesday, January 11th 2022 - 13:41 UTC
North Sea Oil Operators Set For Near Record Cash Flows

By Tsvetana Paraskova for Oilprice.com – UK North Sea operators will see near-record cash margins and profits this year as they will look to extend field lives amid high oil and gas prices in a “now or never” regulatory environment, energy consultancy Wood Mackenzie says.
Thursday, December 23rd 2021 - 20:20 UTC
Argentina's oil exports on the rise

Two shipments of Vaca Muerta crude oil carrying around 490,000 barrels each from Puerto Rosales to Porto Alegre in Brazil represent a sizeable increase in exports from the Neuquén Basin, it was reported.
Friday, December 17th 2021 - 21:20 UTC
Picture of canvas swimming pool to contain oil spill in Argentina goes viral

The picture of a canvas swimming pool designed for the backyard of a modest income family has been used by oil pipeline operators Oldelval to contain a crude spill of over 3 million liters in Argentine Patagonia has gone viral.
Thursday, December 16th 2021 - 09:22 UTC
Venezuelan exports grow 30% compared to 2020

The president of the Venezuelan Association of Exporters (AVEX) Ramón Goyo Wednesday announced a 30% increase in sales abroad compared to 2020 figures, which has allowed producers to make up for a sharp decrease in domestic consumption.