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Oil And Gas Updates: 24 October 2018

General

  • Oil prices claw back previous losses as Iran sanctions return to focus

  • Asia stocks struggle as global woes persist, oil near 2-month lows after Saudi Arabia flagged possible supply increases



Australia

3D Oil identifies possible Dorado-1 look-alike structures in WA-527-P, Bedout Sub-basin



China

Aker Solutions wins subsea order for Lingshui field development in China



Kenya

French fuel company Rubis to announce acquisition of Kenyan oil marketer KenolKobil



Libya

BP and Eni could re-start work on a project in Libya in the first quarter next year, setting the stage for the OPEC member to boost production by “hundreds of thousands of barrels” a day, the head of the country’s state oil company said



Norway

Equinor Sells its Share of Tommeliten Field for $220 million



Oman

Petronas buys 10 percent stake in Oman's Al Khazzan field



Russia

Russia has begun discussions with Exxon Mobil on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country



Saudi Arabia

OPEC in maximum production mode



Switzerland

Weatherford announces sale of laboratory services business



United States

  • BP announced that it has started up the Thunder Horse Northwest Expansion project in the deepwater Gulf of Mexico, four months ahead of schedule and 15% under budget

  • U.S. sanctions against Iran to start Nov. 4

  • 88 Energy announces conventional portfolio update at Project Icewine, located on the Central North Slope, Alaska