Oil prices rise in response to events in US and Norway
Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that Norway's decision to cut production could be a good example for other producers outside OPEC+.
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Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that Norway's decision to cut production could be a good example for other producers outside OPEC+.
The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.
The IEA's Global Energy Review projects that energy demand will fall 6% in 2020 – seven times the decline after the 2008 global financial crisis.
A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.
Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.
Shell's 1Q20 net income fell 46% from a year earlier to US$2.9 billion.
CAN-complete will provide clients with a full service EPCI solution for the subsea well tophole and structural foundation.
US oil production of at least 300 000 bpd will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers.
The company has reduced its annual net production target and CAPEX for 2020.
The announcement is a result of higher-than-expected demand for certain fuels.
OKEA has announced that its assets produced a total of 19 099 boe/d in 1Q20, compared to 19 498 boe/d in 1Q19.
Under the agreement, Sumitomo will have a 25% stake in the FPSO Anna Nery project, which was awarded to Yinson by Petrobras in October 2019.