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Latest Headlines

Petrobras makes pre-salt Campos Basin discovery with Naru well
(9/26/2020) Petroleo Brasileiro has revealed a discovery with its first well drilled offshore Brazil's Rio de Janeiro state in the pre-salt Campos Basin Block C-M-657...

Ecopetrol selling 9 producing assets across Colombia
(9/26/2020) Empresa Colombiana de Petroleos, the Colombian national oil company, has advised that it will divest its interest in nine oil and gas producing assets...

Stena IceMAX to drill Bahamas Petroleum's Perseverence-1
(9/26/2020) Bahamas Petroleum Company has received formal notification from Stena Drilling nominating the Stena IceMAX as the intended drilling rig...

Atteris scores FEED contracts for Santos' Dorado and Spartan Fields
(9/26/2020) Atteris has reported receiving a subsea front-end engineering and design contract from Santos for the Spartan gasfield offshore Western Australia...

Norway receives bids in APA2020 licensing round from 33 companies
(9/26/2020) The Norwegian Ministry of Petroleum and Energy has received a large number of applications in the Awards in Predefined Areas 2020...

US active rotary rig count higher by 1 rig this week
(9/19/2020) Baker Hughes has reported its count of active drilling rigs operating this week in the US rotary rig fleet has increased by one to a total of 255...

PGS offering reprocessed 3D data for West Niger Delta
(9/19/2020Oslo) Petroleum Geo-Services now has available more than 3,500 sq km of new West Niger Delta Basin broadband reprocessed multiclient seismic data...

Neptune Energy extends contract with CHC Helicopters
(9/19/2020) Neptune Energy has extended its contract with CHC Helicopters covering the Netherlands sector of the North Sea for a further two years...

US active rotary rig count down 2 rigs this week
(9/11/2020) Baker Hughes has reported its count of active drilling rigs operating this week in the US rotary rig fleet has fallen by two rigs to a total of 254...

Nostra Terra acquires Atascosa, Texas Caballos Creek Field
(9/5/2020) Nostra Terra Oil & Gas has acquired 100% working interest in the Caballos Creek Field in Atascosa County, Texas, a producing oilfield...
Brunei Shell extends Maersk Convincer contract to yearend 2022
(9/5/2020) Maersk Drilling has reported that Brunei Shell Petroleum Company has exercised its option to extend the contract for the jackup drilling rig...

Whitecap adds NAL Resources in $155 million all-stock transaction
(9/5/2020) Whitecap Resources has concluded an all-stock transaction valued at approximately C$155 million to acquire 100% ownership of NAL Resources...

Energy Transfer completes expansion of Lone Star Express
(9/5/2020) Energy Transfer has completed the expansion of its Lone Star Express Pipeline to add more than 400,000 b/d of natural gas liquids capacity...

Axxis licenses offshore Norway OBN survey data
(9/5/2020) Axxis Geo Solutions has entered into a data licensing agreement with an unnamed international oil company operating offshore Norway...

65 companies offered licenses in UK 32nd Offshore Round
(9/5/2020) The UK Oil & Gas Authority has offered for award 113 license areas over 260 blocks or part-blocks in the 32nd Offshore Licensing Round...

US active rotary rig count rises by 2 rigs this week
(9/4/2020) Baker Hughes has reported its count of active drilling rigs operating this week in the US rotary rig fleet has increased by two rigs to a total of 256...

CNOOC postpones North Sea Buzzard Phase II startup
(9/4/2020) China National Offshore Oil Corporation has pushed back the startup of Phase II of the Buzzard Field development project in the UK North Sea...

OMV Petrom adds Hans-Asparuh Block in Bulgarian Black Sea
(9/4/2020) OMV Petrom has completed its transaction for the acquisition of 100% of the shares in OMV Offshore Bulgaria and the Han-Asparuh Block...

Open season for services on Texas' Gray Oak Pipeline
(9/4/2020) Phillips 66 Partners has advised its subsidiary Gray Oak Pipeline is receiving commitments in an open season for transport services from West Texas...

Sercel's 1st WiNG wireless land nodal system delivered to TPIC
(9/4/2020) Sercel has completed its first delivery of WiNG, its next-generation wireless land nodal acquisition system to Turkish Petroleum International Company...

APA awarded pre-Feed contract for Emperor's Judith Field off Australia
(9/4/2020) The pre-front end engineering design contract for the Judith gasfield offshore Victoria, Australia has been awarded to the APA Group by Emperor Energy...

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Another Perspective

Crude oil prices strengthening through 2021

Another Perspective
by Roger Diwan
Vice President, IHS Markit Financial Services


Oil markets have returned to relatively stable ground with Brent prices within a narrow US$40-$45 per bbl range and could conclusively pass the $50 per bbl mark in the second half of 2021, as detailed in the IHS Markit Energy Advisory Service's Outlook for Global Oil Market Fundamentals & Prices Through 2021...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
Week ends with small losses on mounting COVID cases

(9/25/2020) Trade for the week closed today at the New York Mercantile Exchange (Nymex) and London Intercontinental Exchange (ICE) with small losses by all of our monitored benchmarks except for DME Oman and Tapis, which reported gains, and the Organization of Petroleum Exporting Countries (OPEC) did not report a change today, leaving it at yesterday's close at US$41.22...⇒⇒⇒
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