Oil falls on stock builds, US-China tensions
Oil prices fell this morning as industry data hint a crude stock build in the US and as the potential for US-China tensions rises.
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Oil prices fell this morning as industry data hint a crude stock build in the US and as the potential for US-China tensions rises.
The company has said it is confident that the Slovenian government will receive the required permits for further stimulation of the Petišovci tight gas project.
Petrofac has secured a further six-month contract extension with Basra Oil Company for its long-standing Iraq Crude Oil Export Expansion Project.
Applied Petroleum Technology has identified Lower Jurassic source rocks and a genetically related set of oil show in the Southern Grand Banks.
The seismic data is being processed in the company's Weybridge imaging centre and early results will be available in August.
ConocoPhillips has completed the sale of its subsidiaries that hold its Australia-West assets and operations to Santos.
The company recorded a revenue of US$279 million in 1Q20, compared to US$305 million in 4Q19.
Well 6506/11-12 S. will be drilled about 4 kilometres west of the Morvin field.
Ashtead will provide subsea survey and ROV equipment to Reliance for use on offshore drilling, field development, IRM and decommissioning projects.
The relinquishment process of the SK331 block, located onshore Sarawak, East Malaysia, is expected to be fully completed before the end of the year.
US monthly output is not likely to exceed 11.7 million bpd before 2022, according to Rystad Energy estimates.
Global investment is expected to plummet by 20%, or almost US$400 billion, compared with last year, according to the IEA’s World Energy Investment 2020 report.