Friday, July 10, 2020

Angola News

Angola Resisting Pressure to Taper Oil Output

An FPSO in Angola - Credit: venu gopal - MarineTraffic

Angola is resisting pressure by OPEC's de-facto leader Saudi Arabia for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.The Organization…

OPEC Production in June Cut by 1.25 mbpd

Image by Maksym Yemelyanov - AdobeStock

OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according…

Asian LNG Prices Steady on Ample Supply despite U.S. Cargo Cancellations

Image Credit: Altin Osmanaj/AdobeStock

Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics.

OPEC, Russia Extend Record Oil Cuts

Image by Maksym Yemelyanov - AdobeStock

OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months…

Angola Says Producer Cuts Insufficient, More Action Needed

(File photo: Total)

Angola sees an oil production curb by OPEC, its allies and other top producers as insufficient to balance global markets, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Fr

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

An offshore drilling rig - Image by Namthip - AdobeStock

Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian…

Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure

© Wojciech Wrzesien/AdobeStock

At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week…

Deepwater Acreage to Attract Investments

Image: Norwegian Petroleum Directorate

Deepwater acreage will continue to attract significant company interest through 2020, said a report.According to GlobalData, a significant portion of the acreage available in Q1…

Angola May Seek International Arrest Warrant for Isabel dos Santos

© Miguel Almeida / Adobe Stock

Angola could issue an international arrest warrant for billionaire Isabel dos Santos if she fails to cooperate with a fraud investigation in which she has been named as a suspect…

Saipem Tallies $1.7 Bln Drilling Contracts

(File photo: Saipem)

Italian oilfield services firm Saipem announced Friday it has secured approximately $1.7 billion in new and extended drilling contracts for its offshore and onshore divisions.The…

Africa: Strong Scope for Offshore Licensing in 2020

Image: Total

Throughout 2019 Africa has led licensing round activity; looking forward to 2020 this is set to continue, however results of the recent rounds have had limited success in a global…

India's Oil Imports at 3-year Low

© Björn Wylezich / Adobe Stock

India's oil imports fell to their lowest in more than three years in September to 3.82 million barrels per day (bpd), data obtained from industry and shipping sources showed, as…

Angola Hopes Reforms Will Aid Oil Assets Sales

© silvapinto / Adobe Stock

Angola is hoping sweeping economic reforms will smooth an ambitious plan to sell key state assets, including stakes in oil company Sonangol, a share of Puma Energy and more than…

Angola Seeks to Reduce Gas Flaring to Capture Revenue

© Igor Kardasov / Adobe Stock

Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The…

Brazil Leads FPSO Crude Production Capacity

Image: Petrobras

Brazil will also lead globally on crude production capacity through upcoming floating production storage and offloading (FPSO) vessels with 2,430 thousand barrels per day (mbd)…

Total Plans $5 Bln in Asset Sales

(File photo: Malfere Damien / Total)

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices…

Total Launches New Supercomputer

(Photo: Total)

Energy major Total said its new supercomputer - which has propelled it to a world ranking as the most powerful computer in the sector - will enable its geologists to find oil faster…

ExxonMobil to Redevelop Angola Block 15

Image: ExxonMobil offshore vessel

American multinational oil and gas corporation ExxonMobil and its partners said that they will further invest in Block 15 offshore Angola to increase production as part of an agreement…

Record Number of VLCC Liftings at LOOP

Image: AdobeStock / © Jose Gill

Medium-sour crudes from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving way for a record six supertankers to load at the Louisiana Offshore Oil Port (LOOP) in a matter of weeks…

Total Takes Over Toshiba's U.S. LNG Biz

Image:  Toshiba

French energy giant Total takes over the liquefied natural gas business of Japanese outfit Toshiba's Freeport LNG train tolling agreement and gains $800 million.The French oil and…