Oil And Gas Updates: 26 October 2018


  • Oil Resumes Slide, fell near the lowest level in two months as a rout in U.S. stocks prompted investors to flee risk assets and as American crude inventories continued to rise

  • OPEC+ countries fulfilled their obligations under the deal to limit oil production by 111% in September


Husky Energy, a Canadian oil and gas producer reports bigger third-quarter profit, net income rose to C$545 million ($418.27 million), in the third quarter ended Sept. 30, from C$136 million, a year earlier


Colombia Ecopetrol cleans spill after latest bomb attack on Cano Limon pipeline


Iranian oil exports falling since sanctions announced: EIA


Kuwait has signed an MoU to build a new refinery in China. The unit, to be located in south China, will be constructed in partnership with Chinese NOC Sinopec


  • BP expects to start exploration in Libya with Italian oil major Eni in Q1 – said CEO Bob Dudley

  • Libya's crude oil production continue to rise, with current production of crude oil amounts to 1.3 million barrels per day


Petronas Buys Stake in Khazzan Field in Oman


  • Norway's Aasta Hansteen field to start producing gas from Nov. 4 with 12 mcm/day, said it’s largest owner Equinor

  • BP Given Approval to Start Drilling for Oil in North Sea


  • Russian oil giant Rosneft could increase production by the end of the year, the firm’s CEO Igor Sechin said

  • Russia is well placed to maintain oil production levels above 10 million b/d beyond the next decade, despite western sanctions limiting its access to technology and capital, the International Energy Agency said Thursday.

  • IEA said it now expects Russian oil production to remains above 10 million b/d into the 2030s before a gradual decline to 9.4 million b/d in 2040

Saudi Arabia

OPEC+ countries fulfilled agreement on oil production at 111% in September, report informs citing OPEC's official website

United Kingdom

BP Given Approval to Start Drilling for Oil in North Sea

United States

  • Halliburton's optimistic outlook for the U.S. oil and gas industry in 2019 overshadowed by weak end to 2018 throughout North America

  • ConocoPhillips tops profit estimates, raises 2018 spending


ConocoPhillips paid $345M by Venezuela over 2007 expropriation. The payment, from Venezuela's PDVSA, is expected to be followed-up with another payment of $500 million later this year