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Tullow Oil Announce November Trading Update

Tullow Oil Announce November Trading Update

November 15, 2018 No Comments

Tullow Oil plc (Tullow) issues the following Trading Update for the period 26 July to 15 November 2018. Trading Update summary • All fields producing in line with expectations, full year oil production guidance narrowed to 87-91,000 bopd • Full year free cash flow forecast to be c.$700 million, including Uganda farm-down proceeds of $200m, […]

ENERGY HIGHLIGHTS W/E 20/07/18

ENERGY HIGHLIGHTS W/E 20/07/18

July 19, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $69.98 a barrel on Wednesday, 18 July 2018, compared with $70.38 the previous day, according to OPEC Secretariat calculations. ———————————————————————————————————– The Joint Ministerial Monitoring Committee (JMMC) held its 1st Teleconference Meeting, where it reviewed recent market developments, and considered the report provided by the Joint […]

Venezuela Discuss Plans To Raise Oil Production

Venezuela Discuss Plans To Raise Oil Production

July 17, 2018 No Comments

Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of the year. While Venezuela and its struggling oil firm claim that they are revising their production planning in order to increase the country’s oil production capacity and make this year […]

U.S. To Be The World’s Top Oil Producer By Fall

U.S. To Be The World’s Top Oil Producer By Fall

June 21, 2018 No Comments

The United States is on track to become the world’s top oil producer as early as this fall, unseating the current no.1 Russia, according to Scott Sheffield, the chairman of one of the largest U.S. producers, Pioneer Natural Resources. U.S. oil production will exceed 11 million bpd within the next three to four months, Sheffield […]

Oil Prices Rise After EIA Reports a draw of 2.2 million barrels in U.S. crude oil inventories

Oil Prices Rise After EIA Reports a draw of 2.2 million barrels in U.S. crude oil inventories

May 10, 2018 No Comments

Amid rising oil prices following President Trump’s withdrawal from the Iran nuclear deal, the Energy Information Administration added to the bullish sentiment by reporting a draw of 2.2 million barrels in U.S. crude oil inventories. Analysts polled by IG had expected a moderate build of 160,000 barrels, while a Reuters poll suggested inventories would be […]

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 […]

Sudan and South Sudan

Sudan and South Sudan

March 5, 2018 No Comments

South Sudan gained independence from Sudan in July 2011. Although most of the oil production capacity in those two countries is in South Sudan, the country is landlocked and remains dependent on Sudan’s export pipelines and port. Civil unrest, disagreements over oil revenue sharing, and border disputes have curtailed oil production and investment in both […]

Seplat Announce Results For the year ended 31 December 2017

Seplat Announce Results For the year ended 31 December 2017

February 28, 2018 No Comments

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced its full year 2017 financial results and provides an operational update. Full year 2017 results highlights 2017 working interest production within guidance ● Full year working interest production of 36,923 boepd (comprising 17,853 bopd liquids and 114 MMscfd gas) within guidance range of 35,000 – […]

LUKOIL’s Russia oil production exceed two billion tonnes

LUKOIL’s Russia oil production exceed two billion tonnes

February 1, 2018 No Comments

LUKOIL’s cumulative production of oil in Russia has exceeded two billion tonnes. The company’s Russian projects produced jointly no less than 80 million tonnes of oil annually in the past 14 years. The first billion tonnes of oil was produced by LUKOIL in 2006, fifteen years after the establishment of the company. The milestone of […]

Africa Oil Provides Kenya Operations Update

Africa Oil Provides Kenya Operations Update

November 8, 2017 No Comments

Africa Oil Corp. (“Africa Oil” or the “Company”) (TSX:AOI) (OMX:AOI) provided the following update on its operations in Kenya. Exploration and Appraisal (Blocks 10BB and 13T) The 2017 exploration and appraisal drilling campaign concluded following the drilling of the Amosing-7 appraisal well. The PR Marriott Rig-46 has been demobilized. Two discoveries were made during the […]

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