Oil And Gas Updates: 30 October 2018


General

Oil falls below $68 as concern deepens over global economic outlook





Algeria

Italy's Eni strikes deal with Total to boost offshore exploration in Algeria



Brazil


PetroRio acquires interest in the Frade field in the Campos Basin




China

Big Oil Woos China With $24 Billion Spree in Old Pirate Lair Saudi Aramco, Exxon among firms that signed deals in Zhoushan Chinese archipelago has ambitions to become Asian energy hub



Georgia

Frontera Resources signs Memorandum of Understanding (MoU) for Block 12 with Baker Hughes Services, a GE company (BHGE)


Iran

Iran's oil exports harder to track as sanctions loom. According to Saudi Energy Minister Khalid al-Falih, no one has any idea how much oil Iran will be able to export after new U.S. sanctions against the Islamic Republic kick in on Nov. 4.


Iraq

Iraq will proceed with plans to increase oil and gas production capacity, Oil Minister Mr Thamer Ghadhban said



Nigeria

OPEC and its allies are likely to keep oil-production policy steady when they meet in December, Nigeria's oil minister says


Norway

  • Claxton to support MOL Norge’s first well program on the Norwegian Continental Shelf

  • Talon set to join Corallian in North Sea Curlew-A drilling



  • Wellesley announces successful appraisal of Grosbeak discovery in Northern North Sea



  • Equinor announces new oil discovery in the Johan Castberg licence



Russia

Russia is set to suffer the biggest revenue losses, up to $3.5 billion of sales may be lost from rules mandating cleaner marine fuels from 2020, because the world’s top exporter of the sulfurous residual oil that powers ships doesn’t look prepared for the change. According to IHS there is ‘No chance’ for Russia to be fully ready for International Maritime Organization (IMO) 2020



United Kingdom

Oil & Gas Authority (OGA) comments on minor seismic events recorded in the Preston New Road area recorded in the Preston New Road area. Early indications are that these seismic events have been induced by hydraulic fracturing operations at the site.



United States

Independent producers will forever be pioneers of the U.S. shale sector, but as the play matures, expect major oil companies to play a growing and critical role in its future development