Tag Archive

Crude Oil Price Movement to 22/01/19

Crude Oil Price Movement to 22/01/19

January 22, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.49 a barrel on Monday, 21 January 2019, compared with $60.90 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Equinor completes acquisition of Rosebank project

Equinor completes acquisition of Rosebank project

January 11, 2019 No Comments

Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf. Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production during the first half […]

Nigeria Records 9% Increase in Daily Crude Oil Production in 2018

Nigeria Records 9% Increase in Daily Crude Oil Production in 2018

January 2, 2019 No Comments

Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in outgone 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels. Pitched against the low-level daily crude oil production in 2016 and what obtains now, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, […]

NNPC Records Trading Surplus of ₦9.85Billion

NNPC Records Trading Surplus of ₦9.85Billion

December 28, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure which is higher than the previous month’s deficit of ₦3.90 billion. Details of the report which is contained in the newly released September 2018 edition of the NNPC Monthly Financial and Operations Report indicated […]

Crude Oil Price Movement to 18/12/18

Crude Oil Price Movement to 18/12/18

December 18, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $58.24 a barrel on Monday, 17 December 2018, compared with $59.07 the previous day, according to OPEC Secretariat calculations. WTI CRUDE • 48.70 BRENT CRUDE 58.0 Prices were pushed lower as production reached near record highs in the US and Saudi Arabia. Russia’s output has […]

CNOOC Signs Agreements with 9 International Oil Companies

CNOOC Signs Agreements with 9 International Oil Companies

December 18, 2018 No Comments

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL (in alphabetical order). According to the agreements, the Strategic Cooperation […]

Canadian Natural Resources Limited Announces 2019 Budget

Canadian Natural Resources Limited Announces 2019 Budget

December 5, 2018 No Comments

HIGHLIGHTS OF THE 2019 BASE BUDGET Canadian Natural’s 2019 base capital budget is targeted to be approximately $3.7 billion, approximately $1.0 billion less than the 2018 forecast as the Company demonstrates its ability to exercise capital flexibility. The Company targets maintenance capital at approximately $3.1 billion, demonstrating a key benefit of a long life low […]

Chevron Announces First Oil From Big Foot Project in the Deepwater GoM

Chevron Announces First Oil From Big Foot Project in the Deepwater GoM

November 22, 2018 No Comments

Chevron Corporation (NYSE:CVX) announced that the Chevron-operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5,200 feet (1,584 m.). The Big Foot field was […]

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 […]

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