Oil And Gas Updates: 29 October 2018


General

  • Global oil pricing worries hit U.S. energy shares

  • Oil Looks Vulnerable from Short Term Perspective

  • Big Oil Resists Urge to Spend, forget "Drill, baby, drill!" The world’s biggest oil companies aren’t returning to their spendthrift ways, despite crude’s recovery




Argentina

President Energy spuds development well at the Puesto Flores field

Argentina’s state-controlled oil company, YPF to spend billions to boost oil and gas output, investing between $4 billion and $5 billion per year through 2022, Chief Executive Daniel Gonzalez said




Australia

Australia-based Talon Petroleum Limited announced Friday that it has entered into an agreement with Corallian Energy Limited to earn a 10 percent interest in License P2396, subject to Oil & Authority approval of the assignment



Brazil

Shell Adds New Deepwater Production in Brazil, at Lula Extreme South in the Brazilian Santos basin.Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing.




Democratic Republic of the Congo

Total Finds Congo Pleasant Surprise, pumping 200,000 barrels per day in the Central African nation. "Its production is far more than what we had anticipated," said general manager of Total E&P Congo




Ghana

Exxon Mobil resumed talks with Ghana Oil as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field



Italy

Italian oil major Eni cut its full-year production growth target Friday after failing to grow its upstream volumes during the third quarter due to lower-than-expected flows of natural gas.



Iran

Iran starts oil sales to private exporters on Sunday October 28,2018 to beat U.S. Sanctions which come into effect on Nov. 4 and aim to stop the country’s key crude exports



Nigeria

  • Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production

  • Nigeria recovers $85 mln deposited in Britain in oil licence deal funds - attorney general



Russia

  • Russian energy minister Novak: No need to freeze or cut oil output levels,noting that there were risks that global oil markets could be facing a deficit.

  • Russian state oil pipeline monopoly Transneft resumes oil supplies to Rosneft Black Sea Tuapse refineryafter floods affected the pipeline’s operations earlier this week, Interfax reported






Saudi Arabia

Saudi's SABIC,the world’s fourth-biggest petrochemicals company looking for Africa investment opportunities, which is a promising market to maintain sales growth, its chief executive said on Sunday.




United Kingdom

  • Oil and Gas Authority (OGA) Highlights Greater Buchan Area of the North Sea and is asking oil and gas operators to work together to develop the 150-300 MMboe estimated to be present in the area

  • Environmentalists Slam 'Reckless' North Sea Oil Developments, that plans to extract 20 million barrels of oil from the North Sea

  • $43B Slated for North Sea Projects Through 2025

    • Sixty-seven oil and gas projects offshore four North Sea countries should start up through 2025, representing $43.1 billion in investment, according to a new report from GlobalData



United States

  • U.S. energy firms added oil rigs for a third week in a row for the first time since June, keeping the rig count at its highest in over three years, as declining productivity in some shale fields force companies to drill more to keep output growing