Oil And Gas Updates: 9 November 2018


General

Oil falls below $70 as U.S. crude enters "bear market"


Graph: U.S. crude down 21 pct from October peak, Brent down 18 pct


China

  • China's Sinochem raises 2019 term oil supply from Saudi Aramco, Kuwait

  • China private refiner Hengli to test run plant at end-Nov

  • Empyrean Energy announces independent oil in-place estimates for Block 29/11, offshore China



Gambia

FAR's Samo-1 well offshore The Gambia disappoints: Has been drilled to a total depth of 3240m and wireline logging is nearing completion. Interpretation of the wireline logs so far indicates that the main target horizons are water-bearing


Malaysia

Austrian energy group OMV has agreed to establish a joint venture with Sapura Energy Bhd, paying $540 million for a 50 percent stake in the Malaysian firm’s exploration assets


Norway

Lundin Norway awards an EPCI contract to WorleyParsons


Uganda

Uganda to launch next oil exploration bidding license round next May, official said


United Kingdom

  • Tailwind Energy completes acquisition of EOG’s UK business

  • Significant UK petroleum reserves could sustain production for next 20 years – Oil And Gas Authority (OGA)


United States

  • Mosman Oil & Gas announces planned drilling, operational update and fundraising

  • QEP Resources to sell Williston Basin assets for up to USD1.725 billion

  • Seabird awarded extension of Gulf of Mexico OBN contract and starts multi-client 2D survey in NW Europe