Tag Archives: oil

Cebr: oil price will cycle around $60 until the mid to late 2020s

Forecasting Eye  LONDON, 10-Dec-2018 — /EuropaWire/ — The announcement from the margins of the G20 that Russia and the Saudis were cooperating on oil pricing certainly gave a fillip to the oil markets. The Brent crude future rose from $58.76 per barrel … Read the full press release

Eni: Mubadala Petroleum and BP entry into Nour North Sinai Offshore concession approved by the Egyptian Government

Egyptian Government approval for the sale of a 20% interest to Mubadala Petroleum and a 25% interest to BP out of Eni’s share in the Nour North Sinai Offshore exploratory concession has been granted. The approval follows the signing of … Read the full press release

Germany’s largest natural gas and crude oil producer Wintershall advocates greater use of liquefied natural gas (LNG) in maritime shipping

CEO informs Hamburg’s First Mayor about the merger between Wintershall and DEA HAMBURG, 04-Dec-2018 — /EuropaWire/ — Germany’s largest natural gas and crude oil producer advocates greater use of liquefied natural gas (LNG) in maritime shipping. “Europe’s ports need LNG … Read the full press release

First oil production from the giant Clair Ridge project in the West of Shetland region offshore UK

Major UK North Sea development is sixth new upstream project to come on stream for BP in 2018. Targeting 640 million barrels of oil reserves; peak production of 120,000 barrels of oil a day. First offshore deployment of BP’s ground-breaking … Read the full press release

PKN ORLEN adds new source of oil suppliers from United Arab Emirates

PLOCK, Poland, 02-Nov-2018 — /EuropaWire/ — The United Arab Emirates is a new source of oil supplies to PKN ORLEN. This time the refinery in Płock will receive one million barrels, i.e. approximately 130,000 tonnes, of crude oil. The supply, expected … Read the full press release

Eni, Total and Algeria’s state oil company Sonatrach sign exclusive partnership for offshore exploration in Algeria

Eni, Sonatrach and Total signed two agreements which include an exclusive partnership for offshore exploration in Algeria in a virtually unexplored geological province. Algiers, Algeria, 30-Oct-2018 — /EuropaWire/ — The Chairman and Director General of Algeria’s state oil company Sonatrach, … Read the full press release

PGNiG to increase the production of natural gas in Norway

WARSAW, 25-Oct-2018 — /EuropaWire/ — The gas reserves of the Fogelberg field are estimated at between 7 and 14 bcm. The start of commercial production is in line with the plans of PGNiG as the company seeks to increase the production … Read the full press release

Eni further strengthens its presence in Mozambique with acquisition of new exclusive exploration and development rights

With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company. San Donato Milanese (Milan), 19-Oct-2018 — /EuropaWire/ — At the presence of the Ministry for Mineral Resources and Energy Ernesto Max Tonela, … Read the full press release

BP and Eni and Libya’s National Oil Corporation to resume exploration activities in Libya

Libya’s National Oil Corporation, BP and Eni today signed an agreement expected to lead to Eni and BP working together to resume exploration activities on a major exploration and production contract in Libya.  LONDON, 09-Oct-2018 — /EuropaWire/ — A letter of … Read the full press release

Sonatrach and Total to carry out joint petrochemical project in Arzew, western Algeria

PARIS, 09-Oct-2018 — /EuropaWire/ — Sonatrach and Total have signed two agreements as part of the comprehensive partnership announced in 2017: A new concession contract to jointly develop the Erg Issouane gas field located on the TFT Sud permit, signed by Sonatrach, … Read the full press release

Wintershall DEA: BASF and LetterOne merges their respective oil and gas businesses

BASF and LetterOne will create the leading independent European oil and gas company LUDWIGSHAFEN, 01-Oct-2018 — /EuropaWire/ — BASF and LetterOne signed a definitive transaction agreement to merge their respective oil and gas businesses in a joint venture, which will operate … Read the full press release

DNV GL begins phase II of a joint industry project on single phase flow meters in phase-contaminated oil flow

OSLO, 18-Sep-2018 — /EuropaWire/ — DNV GL is now starting phase II of a joint industry project (JIP) on single phase flow meters in phase-contaminated oil flow. Phase II of this JIP will focus on the influence of the oil fluid … Read the full press release

Royal Dutch Shell to maintain methane emissions intensity below 0.2% by 2025

Royal Dutch Shell plc (Shell) today announced a target to maintain methane emissions intensity below 0.2% by 2025. This target covers all oil and gas assets for which Shell is the operator. The HAGUE, 17-Sep-2018 — /EuropaWire/ — “This methane target … Read the full press release

Glencore: Glencore-QIA Consortium’s 14.16% stake in Rosneft sold to QIA; Consortium arrangements terminated

BASEL, 12-Sep-2018 — /EuropaWire/ — Glencore refers to the announcement on 4 May 2018 concerning the Consortium’s agreement to sell a 14.16% stake in Rosneft to a wholly owned subsidiary of QIA. This transaction has now completed. As a result of … Read the full press release

Cloud-based advanced analytics solution co-developed with BHGE will be installed on BP’s upstream assets around the world

Advanced analytics solution, developed with BHGE, will be installed on BP’s upstream assets around the world HOUSTON, TX, USA, 07-Sep-2018 — /EuropaWire/ — BP announced today that it has successfully deployed Plant Operations Advisor (POA), a cloud-based advanced analytics solution developed … Read the full press release

StormGeo becomes a one-stop-shop for digital navigation and planning for the modern maritime industry with the acquisition of Nautisk

STOCKHOLM, 05-Sep-2018 — /EuropaWire/ — The quote “A little rain never hurt anybody” is not a wise recommendation. At least not if you ask EQT portfolio company StormGeo – the leading provider of weather intelligence and decision support for companies operating … Read the full press release

Eni announces Development Plan approval for the discoveries of Amoca, Miztón and Tecoalli in Area 1, offshore Mexico

This achievement occurs just 32 months after Eni signed the Area 1 Production Sharing Contract (PSC), won in an international bid round, and 17 months after the drilling of the first well. San Donato Milanese (Milan), 06-Aug-2018 — /EuropaWire/ — … Read the full press release

Total starts up production of Kaombo in Angola; will produce an estimated 115,000 barrels of oil per day

PARIS, 30-Jul-2018 — /EuropaWire/ — Total has started up production of Kaombo, currently the biggest deep offshore development in Angola, located on Block 32, 260 kilometers off the coast of Luanda. Kaombo Norte, the first Floating Production Storage and Offloading … Read the full press release

Eni: second light oil discovery on the B1-X exploration prospect in the Egyptian Western Desert

The discovery confirms the high potential of deep geological sequences of the Faghur Basin San Donato Milanese (Milan), 10-Jul-2018 — /EuropaWire/ — Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, … Read the full press release

INA-INDUSTRIJA NAFTE, d.d. to acquire 100% of Eni Croatia b.v.

Through this deal, which is in line with its asset disposal and rationalisation programme, Eni exits the upstream sector in Croatia, where it has been present since 1996 in partnership with INA-INDUSTRIJA NAFTE, d.d.. San Donato Milanese (Milan), 22-Jun-2018 — … Read the full press release

Rolls-Royce: Jereh Petroleum Equipment orders 16 MTU 12V 4000 T95 Oil & Gas engines for new fracturing pump equipment

16 MTU 12V 4000 T95 Oil & Gas engines delivering up to 1,865 kW for new fracturing pumps Engines fulfil EPA Tier 4 final emission requirement without aftertreatment All engines to be delivered in 2018 Beijing, China, 10-May-2018 — /EuropaWire/ … Read the full press release

Solvay launches high-performance thermoplastic composite with continuous carbon fiber reinforcement for demanding offshore oil and gas applications

Alpharetta, GA, 27-Apr-2018 — /EuropaWire/ — Solvay launches EvoliteTM F1050, a market first high-performance thermoplastic composite with continuous carbon fiber reinforcement for demanding offshore oil and gas applications. EvoliteTM F1050 is a unidirectional tape combining the recognized excellent chemical and temperature resistance … Read the full press release

Continental Hackathon will look for creative ideas and innovative solutions in the industrial sector at the industry fair Hannover Messe

Hannover Fair: Industry hackathon with international startups from four eco-systems Duensing: “Innovations are the lubricating oil and fuel for future-proof industrial companies.” Talented young people from Hanover, Hamburg, San Luis Potosí (Mexico) and Bucharest (Romania) search for solutions to challenges … Read the full press release

Brazil awarded interests in seven licenses to Germany’s largest internationally active oil and gas producer Wintershall

Wintershall awarded seven offshore exploration licenses in Brazil’s 15th oil and gas licensing round Entry into Brazil strengthens Wintershall’s position in South America Rio de Janeiro/Kassel, 06-Apr-2018 — /EuropaWire/ — Wintershall is continuing its growth course and has now been … Read the full press release

BMT launches advanced interactive asset data platform designed by offshore marine professionals for offshore marine professionals

Teddington, UK, 16-Mar-2018 — /EuropaWire/ — BMT is proud to introduce BMT Deep, an advanced interactive asset data platform designed by offshore marine professionals for offshore marine professionals. BMT Deepdelivers deeper insights for enhanced asset performance management and is the product of over … Read the full press release

Gavin Graham: LOTOS Upstream is an umbrella organisation tasked primarily with effective oversight and management of the LOTOS Group’s global upstream operations

Gdańsk, Poland, 16-Mar-2018 — /EuropaWire/ — February 1st saw LOTOS Upstream commence its business operations. Its group already includes LOTOS Norge and LOTOS Geonafta, which will soon be joined by Baltic Gas. The plan is to expand operations into new areas, … Read the full press release

Eni sells 10% stake in the Shorouk concession to Mubadala Investment Company’s subsidiary Mubadala Petroleum

Abu Dhabi (United Arab Emirates), 12-Mar-2018 — /EuropaWire/ — Eni has agreed to sell to Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Company, a 10% stake in the Shorouk concession, offshore Egypt, where Zohr’s super-giant gas field is … Read the full press release

Eni to acquire 5% stake in the Lower Zakum offshore oil field and 10% stake in the oil, condensate and gas offshore fields of Umm Shaif and Nasr, UAE

Abu Dhabi (UAE), 12-Mar-2018 — /EuropaWire/ — Eni signed today in Abu Dhabi two Concession Agreements for the acquisition of a 5% stake in the Lower Zakum offshore oil field and of a 10% stake in the oil, condensate and gas … Read the full press release

Total now the second-largest operator in the North Sea with an output of 500,000 boe/d by 2020

PARIS, 09-Mar-2018 — /EuropaWire/ — Total announces the closing of the Maersk Oil acquisition signed on 21st of August 2017. It brings to Total around 1 billion barrels of oil equivalent of 2P/2C reserves and resources, mainly in the OECD … Read the full press release

Schuster Manfred Hubert agrees with future oil predictions

Oil and Energy BEIJING, China, 01-Mar-2018 — /EuropaWire/ — Crude oil prices will average $60/b in 2018 and $61/b in 2019. That’s an increase from last month’s Short-Term Energy Outlook by the U.S. Energy Information Administration. In January 2018, oil prices briefly hit $70/b. In … Read the full press release