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Oil Price Rally Is Likely

Oil Price Rally Is Likely

April 3, 2018 No Comments

Oil prices seesawed at the start of the week before jumping close to multi-year highs on geopolitical concerns, with Brent hitting $70 and WTI at $65. However, geopolitical pressure is only able to influence oil prices to such a degree because the market is fundamentally getting tighter. Ongoing declines in Venezuela and concerns about heightened […]

WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0million

WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0million

March 21, 2018 No Comments

Wintermar Offshore Marine (WINS:JK) has reported results for the 2017 financial year. WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0 million as utilization averaged 69% for the quarter, lifting revenue by 10% QOQ to US$18.0 million for the final quarter of the year. Better revenue in 4Q2017 from higher fleet utilization […]

OPEC daily basket price stood at $63.97 a barrel

OPEC daily basket price stood at $63.97 a barrel

March 1, 2018 No Comments

The price of OPEC basket of fourteen crudes stood at $63.97 a barrel on Wednesday, 28 February 2018, compared with $64.99 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), […]

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Tullow Issues Trading Statement & Operational Update

Tullow Issues Trading Statement & Operational Update

January 10, 2018 No Comments

Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2017. This is in advance of the Group’s Full Year Results, which are scheduled for release on Wednesday 7 February 2018. The information contained herein has not been audited […]

Development, Production and Awarding Johan Castberg contracts

Development, Production and Awarding Johan Castberg contracts

December 5, 2017 No Comments

Statoil submited the PDO (plan for development and operation) for the Johan Castberg project on behalf of the partnership with Eni and Petoro. Several major contracts will also be awarded to Norwegian industry. “This is a great day! We have finally succeeded in realising the Johan Castberg development. The project is central part of the […]

Sasol’s Strategy to Drive Value-Based Growth

Sasol’s Strategy to Drive Value-Based Growth

November 23, 2017 No Comments

Sasol today unveiled its refined corporate strategy, which sets a clear path for sustainable growth and accelerated shareholder returns. Joint President and Chief Executive Officer (CEO), Stephen Cornell says: “In developing our strategy, we considered both the opportunities and risks we face, informed by developments in the external environment. It is clear that megatrends influential […]

Oil Company That Lost $800 Billion In Shareholder Value

Oil Company That Lost $800 Billion In Shareholder Value

November 2, 2017 No Comments

China’s biggest oil and gas producer PetroChina debuted on the Shanghai stock exchange in November 2007, becoming the first $1-trillion company in the world.   Ten years later, almost to the date, PetroChina’s Shanghai-listed shares have dropped by a staggering 82 percent since the IPO, wiping out shareholder value of $800 billion, Bloomberg calculated. That’s […]

African national oil companies (NOCs) need to evolve for the future

African national oil companies (NOCs) need to evolve for the future

October 5, 2017 No Comments

African national oil companies (NOCs) across Africa have an enormous opportunity to secure a more sustainable future by transforming into “national energy companies” (‘NECs’), escaping the economic trap of a lower oil price and embracing the disruptive forces unleashed by climate change and a lowcarbon world. A new era of lower oil prices is challenging […]

CNOOC 2017 Announce interim results to June 30, 2017

CNOOC 2017 Announce interim results to June 30, 2017

August 25, 2017 No Comments

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its 2017 interim results for the six months ended June 30, 2017. The Company has fully met 1H targets with outstanding production performance. Regarding exploration, 14 new discoveries and 14 successful appraisal wells were achieved, among which, 13 new discoveries and 12 successful […]

Next Oil Price Spike May Cripple The Industry

Next Oil Price Spike May Cripple The Industry

August 24, 2017 No Comments

Two diametrically opposed views dominate the current debate about where the oil price is heading. On the one hand, there is the view that the price of oil will be “lower for longer”, or even “lower forever”, as the electrification of transport will eat away at oil demand more and more while, at the same […]

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