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Latest Headlines

OPEC agrees to increase output almost 1 million b/d
The Organization of Petroleum Exporting Countries has reached agreement at its meeting today in Vienna to raise the amount of its crude oil production...

Trinidad & Tobago launching licensing round for 8 blocks
(6/24/2018) Trinidad and Tobago's Ministry of Energy & Energy Industries is launching a bid round for six offshore and two onshore blocks for exploration and production...

Libya's NOC says exports from Es Sider & Ras Lanuf normal in a week
(6/24/2018) Mustafa Sanalla, chairman of Libya's National Oil Corporation has advised that exports will resume soon from the country's major crude export ports...

Eni puts Egypt's Noor Field among world's largest gasfields
(6/24/2018) In a meeting with Egypt's Petroleum Minister, the CEO of Ente Nazionale Idrocarburi said Noor Field in the Egyptian Mediterranean has some 90 Tcf...

Novatek in MoU with Kogas regarding Arctic LNG 2
(6/24/2018) Novatek has signed a memorandum of understanding with Korea Gas Corporation to explore Kogas entering the Arctic LNG 2 Project...

BP suspends Aspy D-11 off Nova Scotia after drilling fluid spill
(6/24/2018) On Friday 22 June, during routine drilling operations, BP detected a leak of drilling fluid some 30 meters below the sea surface at its Aspy D-11 well...

Sewell drilling Betsy wildcat in Columbia County, Arkansas
(6/24/2018) Sewell Drilling has begun drilling on behalf of Betsy Production at a drillsite in Columbia County, Arkansas on Southern Arkansas University lands...
Sierra selling stake in Mexico Block 2 next to giant Zama discovery
(6/24/2018) Sierra Oil & Gas is seeking to sell a minority interest in Mexico's Block 2 adjacent to the Block 7 location of the giant 2 billion bbl Zama oilfield...

New OPEC & non-OPEC output agreement for 2019
(6/24/2018) Russian Minister of Energy Alexander Novak has revealed OPEC, Russia, and non-OPEC national companies have agreed to a new output for next year...

Quadrant's Dorado-1 exploration well off Western Australia setting liner
(6/22/2018) Carnarvon Petroleum has reported the Dorado-1 exploration well offshore Western Australia has been drilled to a measured depth of 3,637 meters...

HydraWell wins P&A contract with Chevron North Sea
(6/22/2018) HydraWell has signed a three-year contract with Chevron for plugging and abandoning wells in its concessions in the UK sector of the North Sea...
First shipment of LNG departs Yamal LNG for Spain
(6/22/2018) Novatek has reported that its operated Yamal LNG plant on Russia's Yamal Peninsula at Sabetta has produced its first cargo of liquefied natural gas...

US rotary rig count lower by 7 rigs this week
(6/22/2018) Baker Hughes has reported the US rig count was down seven rigs this week to 1,052 working rigs, which is 111 more than this time last year...

Gulf Keystone upping Kurd Iraq Shaikan Field output to 55,000 b/d
(6/22/2018) Gulf Keystone, operator of the Shaikan Field in the Kurdistan Region of Iraq, has reached agreement on investment to increase production...

Rowan leases Super Gorilla XL jackup Bob Palmer to Saudi Aramco
(6/22/2018) Rowan Companies has reported that its Bob Palmer, a Super Gorilla XL Class jackup drilling rig has been leased for a three-year contract...

Savannah spuds Kunama-1 in Niger's Agadem Basin
(6/22/2018) Savannah Petroleum has commenced drilling operations in its third well of its current Niger drilling campaign with the spudding of the Kunama-1...

PentaNova farms out Colombia Sinu-9 Block to Panacol
(6/22/2018) PentaNova Energy has concluded a farmout of its Sinu-9 Block in Colombia's Lower Magdalena Basin to Panacol Oil & Gas...

Aker BP given go-ahead to remove facilities from Jette Field
(6/22/2018) The Norwegian Petroleum Safety Authority has given consent to Aker BP for removal of the facilities on the Jette Field in the Norwegian North Sea...

PSDM processed 3D seismic data on Guyana's Orinduik Block delivered
(6/21/2018) Eco Atlantic Oil & Gas has reported that interpretation and processing of the 3D seismic survey on Guyana's Orinduik Block is nearing completion...

CNOOC's Binhai LNG terminal to be built in China's Jiangsu Province
(6/21/2018) China's National Development & Reform Commission has agreed to the construction of a liquefied natural gas import terminal in eastern China...
PSA authorizes Equinor drilling Barents Sea Intrepid Eagle Prospect
(6/21/2018) The Norwegian Petroleum Safety Authority has given Equinor Energy its consent to carry out exploratory drilling in the Norwegian Barents Sea...

WorleyParsons wins contract extension to support Chevron Australia assets
(6/21/2018) WorleyParsons has received a contract extension for provision of services in support of the assets of Chevron's Australasian strategic business unit...

CGC & Echo find light oil in 3rd Fraccion well in Argentina
(6/21/2018) Echo Energy advised that a significant light oil column has been penetrated in its third well onshore Argentina, the EMS-1001 in the Fraccion C...

Spirit wins permit to drill Scarecrow wildcat in Barents Sea
(6/21/2018) The Norwegian Petroleum Directorate has issued a drilling permit to Spirit Energy Norge for the drilling of a wildcat well in the Norwegian Barents Sea...

Shell sale of Thai Gulf Bongkot Field interest concluded
(6/21/2018) Royal Dutch Shell's Thai affiliates have completed the sale of their interest in the Bongkot Field and adjoining offshore acreage to PTTEP...

Aker BP given permit to drill 3 wells in northern Norwegian North Sea
(6/20/2018) The Norwegian Petroleum Directorate has granted Aker BP a drilling permit for three wells to be drilled in the northern Norwegian sector of the North Sea...

Mubadala takes a stake in Egypt's giant Zohr gasfield concession
(6/20/2018) Mubadala Petroleum has completed acquisition from Ente Nazionale Idrocarburi of participating interest in the offshore Shorouk Concession...

Shell sells stake in Malaysia LNG Tiga to Sarawak SFS
(6/20/2018) Shell Gas Holdings Malaysia has completed sale of its interest in Malaysia LNG Tiga to the Sarawak State Financial Secretary for US$750 million...

OKEA acquiring Norske Shell interests in 2 Norwegian North Sea assets
(6/20/2018) Royal Dutch Shell has advised that its Norske Shell affiliate has reached an agreement for OKEA to purchase its operating interest in the Draugen Field...

C-Innovation awarded US Gulf Bass Lite decommissioning project
(6/20/2018) The C-Innovation affiliate of Edison Chouest Offshore has been contracted for a key role in the Bass Lite flowline decommissioning project...

Mubadala strikes more oil with Thai Gulf Manora Field well
(6/20/2018) Tap Oil has reported that operator Mubadala Petroleum has encountered multiple pay zones with its Manora-20 well in northern Gulf of Thailand...

INA acquiring Eni upstream assets in Croatia
(6/20/2018) Ente Nazionale Idrocarburi has concluded an agreement with INA-Industrija Nafte whereby INA will acquire 100% of Eni Croatia's upstream operations...
Vaalco concludes Avouma well workover off Gabon
(6/20/2018) Vaalco Energy has finished its workover operations in the Etame Marin Block's Avouma and South Tschibala Fields offshore Gabon...

 For more headlines, select from OGI Departments at top left
From the Editor

What can solve the dire situation in Venezuela?

Dev George
Managing Editor


It has not been so long ago that Venezuela was regarded as one of the most reliable, efficient, and well managed petroleum producers, but since the death of its President Hugo Chavez, the country has fallen into economic chaos with inflation now at about 3,000%, and this has resulted in virtually every aspect of Venezuelan society deteriorating...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Another mixed settlement with Brent crudes down $2+ a bbl

(6/21/2018) Trade today at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE) reached the bell with mixed settlements once again, with West Texas Intermediate (WTI) somewhat higher but North Sea Brent and the Brent-based crudes more than US$2/bbl over yesterday's closing prices in anticipation of the Organization of Petroleum Exporting Countries (OPEC) hefting the output of the cartel...⇒⇒⇒
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