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ADNOC to Invest AED 5.1 Billion to Upgrade and Expand Bu Hasa Field

ADNOC to Invest AED 5.1 Billion to Upgrade and Expand Bu Hasa Field

November 14, 2018 No Comments

The Abu Dhabi National Oil Company (ADNOC) announced, today, an AED 5.1 billion (US $1.4 billion) investment to upgrade and expand its Bu Hasa field that will increase crude oil production capacity to 650,000 barrels per day (bpd). This is an important step towards delivery of ADNOC’s 2030 smart growth strategy that seeks to increase […]

OPEC daily basket price

OPEC daily basket price

November 13, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $69.82 a barrel on Monday, 12 November 2018, compared with $68.89 the previous Friday, according to OPEC Secretariat calculations According to the US Energy Information Administration (EIA) Short-Term Energy Outlook (STEO) data in its report for November 2018, crude oil prices declined in October at […]

Hess Completes Drilling  on Aspy Well

Hess Completes Drilling on Aspy Well

November 12, 2018 No Comments

Hess Corporation (NYSE:HES) announced that drilling of the Aspy exploration well offshore Nova Scotia reached total depth of 7,400 meters. The prospect did not encounter commercial quantities of hydrocarbons and Hess’ share of the well cost through September 30, 2018 will be expensed in the third quarter and reflected in the company’s Quarterly Report on […]

Nigeria Records Crude Oil and Gas Export Sale of $470m in August

Nigeria Records Crude Oil and Gas Export Sale of $470m in August

November 8, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has said that crude oil and gas export sale by the corporation in August 2018 was $470million, indicating an upsurge of about $78million in relation to July oil and gas export figures of $391.91million. NNPC Monthly Financial and Operations report for August 2018 released today in Abuja by the […]

Neste and Clariant to develop sustainable industrial solutions

Neste and Clariant to develop sustainable industrial solutions

November 6, 2018 No Comments

Neste, the world’s leading provider of sustainable renewable diesel and an expert in delivering drop-in renewable chemical solutions, and Clariant, a world leader in specialty chemicals, have signed an agreement for a new partnership to join forces in developing and making new sustainable material solutions accessible to a variety of industries. In the first phase […]

Chevron Reports 3rd Quarter Net Income of $4.0 Billion

Chevron Reports 3rd Quarter Net Income of $4.0 Billion

November 2, 2018 No Comments

Chevron Corporation (NYSE: CVX) today reported earnings of $4.0 billion ($2.11 per share – diluted) for third quarter 2018, compared with $2.0 billion ($1.03 per share – diluted) in the third quarter of 2017. Included in the current quarter were a write-off, an asset impairment, and a non-recurring contractual settlement totaling $930 million in the […]

Canadian Natural Resources Limited Announces 2018 Third Quarter Results

Canadian Natural Resources Limited Announces 2018 Third Quarter Results

November 1, 2018 No Comments

Commenting on third quarter 2018 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “The strength of our well balanced and diverse portfolio, combined with Canadian Natural’s ability to effectively and efficiently execute, delivered a strong third quarter for the Company. Record quarterly adjusted funds flow of over $2.8 billion was achieved in the third […]

Iran has produced and exported less crude oil since sanctions announcement

Iran has produced and exported less crude oil since sanctions announcement

October 29, 2018 No Comments

Iran’s crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions against Iran. The announcement included two wind-down periods to allow those doing business that involved Iran time to comply. On August 6, 2018, […]

Eni results for the third quarter and nine months of 2018

Eni results for the third quarter and nine months of 2018

October 26, 2018 No Comments

Eni’s Board of Directors approved the Group results for the third quarter and the nine months of 2018 (unaudited). Highlights Exploration & Production Hydrocarbon production: 1.8 million boe/d in the third quarter of 2018, up by 1.2% q-o-q net of price effects (stable on a reported basis ). Production growth negatively affected by lower-than-expected produced […]

Study shows record low carbon intensity of Saudi crude oil

October 8, 2018 No Comments

In one of the most comprehensive oil field carbon intensity (CI) studies ever published, a global team led by Stanford University has calculated the CI of the world’s active oil fields — with significant results for Saudi Arabia. CI is a measure of the greenhouse gas emissions associated with producing crude oil, from the well […]

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