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Latest Headlines

Adnoc discovers 22 billion bbl unconventional oil onshore Abu Dhabi
(11/23/2020) The United Arab Emirates' Abu Dhabi Supreme Petroleum Council has reported the discovery of 22 billion bbl of recoverable unconventional oil...

Sercel providing large 3D land seismic mega-crew in Saudi Arabia
(11/24/2020) CGG advised today that its Sercel subsidiary has won a major contract to supply land seismic equipment for a 3D mega-crew survey awarded to Argas...

Orsted to develop South Korean offshore wind projects
(11/24/2020) Orsted has committed to the development of offshore wind projects offshore South Korea with a potential capacity of up to 1.6GW off Incheon...
GeoPark selling stake in Brazil's offshore Manati gasfield
(11/24/2020) GeoPark has approved an agreement to sell its non-operated working interest in the Manati gasfield shallow water concession offshore Bahia state...

Archer scores 5-year drilling services Aker BP contract
(11/24/2020) Archer has secured a five-year contract from Aker BP with an additional three-year extension option for the provision of platform drilling operations...

DOF Subsea wins Beach's Otway Phase 4 subsea contract
(11/24/2020) DOF Subsea Australia has reported receiving a contract from Beach Energy for its Otway Offshore Project Phase 4 offshore Victoria, Australia...

Deltic spots 3 Cupertino area prospects UK North Sea
(11/24/2020) Deltic Energy has reported identifying three commercial scale prospects in Cupertino exploration area of the UK sector of the North Sea...
Elixir encounters active gas in Mongolia Yangar well
(11/24/2020) Elixir Energy has intersected 27 meters of coal in its Yangar-1S strat-hole well drilled in its Nomgon IX coalbed methane concession in Mongolia...

Talos takes 2 deepwater blocks in BOEM Lease Sale 256
(11//21/2020) Talos Energy is the apparent high bidder on two deepwater blocks in the recent Outer Continental Shelf Federal Lease Sale 256, on 18 November...
Norway offering 136 blocks in Arctic offshore province
(11/20/2020) The Norwegian Minister of Petroleum, Tina Bru, has announced Norway's 25th Licensing Round with blocks in the Norwegian Barents Sea and Norwegian Sea...

Trans Adriatic Pipeline commences commercial operations
(11/20/2020) BP, the lead member of the Trans Adriatic Pipeline partnership has reported the beginning of commercial operation of the 878-km gas pipeline...

Oil Search resuming Alaska North Slope Pikka Project
(11/20/2020) Oil Search is preparing to resume its Alaska operations with the first project its Pikka development, for which a final investment decision is planned...

Sparrows starting 5-year crane contract on Irish Sea Morecambe Hub
(11/20/2020) The Sparrows Group has been awarded a five-year contract by Spirit Energy for the provision of crane maintenance and lifting services...

US active rotary rig count lower by 2 rigs this week
(11/20/2020 OGI: Houston) Baker Hughes has reported its count of active drilling rigs operating this week in the US rotary rig fleet has decreased by two rigs to a total of 310, which is 493 less than this time last year...

Zephyr gearing up to drill Utah Paradox Basin producer
(11/20/2020) Zephyr Energy has advised that it is preparing to spud its dual-use State 16-2 well in its Paradox Basin project in Utah before the end of the year...
Petro Rio becomes operator of Brazil's Wahoo & Itaipu Fields
(11/19/2020) Petro Rio has concluded an agreement with BP Energy do Brasil for operatorship of Blocks BM-C-30 and BM-C-32, the Wahoo and Itaipu Fields...

GAIL completes 444 km Kochi-Mangalore natural gas pipeline
(11/19/2020) The Gas Authority of India Limited has reported its completion of the 444-km natural gas pipeline project launched in 2009, at a cost of US$770 million...

Azeri Central East Platform topsides underway off Azerbaijan
(11/19/2020) BP's Azerbaijan subsidiary has reported fabrication activities on the topsides and drilling facilities for the Azeri Central East platform...

Norway's Johan Sverdrup Field output at half-million b/d by yearend
(11/19/2020) Equinor, operator of the Johan Sverdrup Field in the Norwegian North Sea, has advised that production capacity is increasing to 500,000 b/d...

FID reached for Energia Costa Azul in Baja California, Mexico
(11/19/2020) Sempra Energy's joint venture with Infraestructura Energetica Nova, Energia Costa Azul Liquefaction has reached a final investment decision...

Jadestone sub & Total relinquish Philippines Block SC-56
(11/19/2020) Jadestone Energy has reported that its Mitra Energy Philippines subsidiary and partner Total E&P Philippines hav voluntarily relinquished and terminated...

Vaalco adds to stake in Gabon's Etame Marin Block
(11/19/2020) Vaalco Energy has signed a sale and purchase agreement to acquire Sasol Gabon's 27.8% working interest in the Etame Marin Block off Gabon...

Petrobras extends contracts for 2 ultra-deepwater Transocean drillships
(11/19/2020) Transocean has reported that Petroleo Brasileiro has exercised preexisting, fixed price options on two of its ultra-deepwater drillships...

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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
Crude prices climb again to close week higher by 5%

(11/20/2020) Trade at the New York Mercantile Exchange (Nymex) and London Intercontinental Exchange (ICE) closed out the week today with another price increase that took the week's total climb to more than 5% by our monitored benchmarks, having been boosted once more by positive reports from Pfizer and Moderna...⇒⇒⇒
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