Oil eases on supply recovery concerns
Although at a stable overall level, oil prices fell this morning on concerns over the coming production recovery and if it will again move supply to higher levels than demand justifies.
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Although at a stable overall level, oil prices fell this morning on concerns over the coming production recovery and if it will again move supply to higher levels than demand justifies.
Lukoil has completed installation of a jacket for an accommodation platform topside at the V.I. Grayfer field.
Hurricane Energy has been given further time by the Oil and Gas Authority to carry out work in the Lincoln subarea of Licence P1368 in the UK North Sea.
The company's EBITDAX was US$322.9 in 1Q20, compared to US$451 million in 4Q19.
Petrofac will provide well operator, well engineering and project management services to decommission four wells within the Rubie and Renee fields, 200 km north east of Aberdeen.
The AM20 survey covers the latest APA19 awards in the Norwegian Sea.
BW Offshore recorded a non-cash impairment to the book value of the FPSO fleet and other assets of US$233.1 million for 1Q20.
The royalty payments came from oil production at the offshore Stabroek block.
Gas extracted from the UK Continental Shelf has an average emission intensity of 22 kgCO2e/boe, whereas imported LNG has an average intensity of 59 kgCO2e/boe, according to data from the Oil and Gas Authority.
The Permian Basin has systematically increased its market share in nationwide horizontal oil drilling in the US, reaching 74% as of last week, according to analysis by Rystad Energy of Baker Hughes data.
The scope of the agreement extends, but is not limited, to offshore trunklines.
Oil prices rose this morning on indications that the global oil market is getting balanced soon, as supply cuts seem to meet the gradual demand rebound.