Oil And Gas Updates: 5 November 2018


General

  • Oil slips as U.S. sanctions on Iran begin




  • Baker Hughes Swings to Profit but Misses Forecasts

  • BP Prepared to Unleash Cash Bet on Oil Staying High: The UK oil major reversed a plan to issue new equity to fund a $10.5-billion acquisition of BHP, saying it’ll do it all in cash instead


Argentina

Argentina Restarts Natural Gas Exports to Chile after a 12 year interlude


Australia

The Australian Petroleum Production and Exploration Association has welcomed the Queensland government’s announcement to open up more than 6,600 sq kms of land for gas exploration.


Iran

Iran says it will resist "economic war" as US revives curbs


Israel

Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago


Nigeria

Nigerian National Petroleum Corporation (NNPC) could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week official said on Monday


Norway

  • Faroe Petroleum granted drilling permit for well 31/7-3 S in PL 740

  • Equinor awards jacket contract for Johan Sverdrup phase 2 to Kvaerner. The contract value is around NOK 900 million


Philippine

Philippine Energy Secretary Alfonso Cusi is optimistic that a deal to jointly explore disputed areas of the South China Sea for oil and gas will finally move forward when President Xi Jinping visits next month


Sudan

Lundin Petroleum faces potential corporate fine and forfeiture of economic benefits in relation to past operations in Sudan from 1997 to 2003


UAE

Abu Dhabi’s Supreme Petroleum Council (SPC) has approved the Abu Dhabi National Oil Company’s (ADNOC) new integrated gas strategy and plans to increase its oil production capacity to 4 million barrels per day (mmbpd) at the end of 2020 and 5mmbpd by 2030


United Kingdom

  • Reabold Resources has invested a total of £3 million for an equity interest of 37.08 per cent in Rathlin Energy

  • Serica Energy acquires BHP interests in the Bruce and Keith fields offshore UK

  • Union Jack Oil signs farm-in agreement for a 16.665 percent interest in PEDL183 containing major West Newton gas discovery


United States

  • Pioneer Natural Resources announces sell approx. 2,900 net acres in the Sinor Nest (Lower Wilcox) field for net proceeds of $132 million

  • BP completes $10.5 billion acquisition of BHP assets in US onshore


West Africa

Kosmos enters into a strategic exploration alliance with Shell to jointly explore in Southern West Africa