Saturday, July 20, 2019

Gas Production News

Santos Posts Record Production in Q2

(Photo: Santos)

Australia's No 2 independent gas producer Santos Ltd said on Thursday it had clocked record gas production in the second quarter on stronger output across its Western Australia gas assets.Production for the…

DTEK to Develop the Zinkivska Block

(File photo: DTEK Oil&Gas)

DTEK Oil&Gas and its subsidiaries have been selected as winners in a competition for the largest Product Sharing Agreement (PSA) in Ukrainian history. Subsequent to signing the PSA, the company will invest…

European Gas Prices Fall To 10-Years Low

Graph: Rystad Energy

European natural gas prices reached their lowest in at least a decade, fueled by a battle for market share between Russia, traditionally the continent's supplier, and the U.S., whose gas exports have gained…

USA to Dominate in LNG Capacity

Photo: © By alexyz3d / Adobe Stock.

The US and India are expected to lead capacity growth in the global LNG liquefaction and regasification industries from planned and announced (new-build) projects, respectively during the outlook period 2019…

Gazprom Neft, Zyfra to Develop Digital Products

© Sergey Sergeev / Adobe Stock

Oil company Gazprom Neft and tech firm Zyfra agreed to set up a joint venture to work on developing digital products for management of industrial processes.A preliminary agreement on this was signed by Andrey Belevtsev…

C&J Energy, Keane Merge in $1.8bln Deal

Oilfield services firms C&J Energy Services and Keane Group, said  that they will merge in an all-stock deal valued at about $1.8 billion.C&J Energy, which offers a suite of oil and gas production services…

Norway Wealth Fund to Drop ConocoPhillips, Hess

(Photo: ConocoPhillips)

Norway's wealth fund will have to divest its holdings in ConocoPhillips and Hess after both U.S. oil companies were added to a list which effectively excludes them from the Nordic country's portfolio.As part…

Natural Gas Flaring Hits Record High

Graph: Rystad Energy

As spot prices in the region have remained near or below zero, natural gas flaring and venting in the Permian Basin in Texas and New Mexico reached a new all-time high in the first quarter of 2019, averaging…

BP Sells Egypt Assets to Dragon Oil

BP chief executive Bob Dudley (Photo: BP)

BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over…

Argentina Grants Offshore Exploration Permits

© Patrik Stedrak / Adobe Stock

Argentina awarded permits to begin hydrocarbon exploration in 18 areas off the coast of the country in the Malvinas West basin to companies including Exxon Mobil Corp, Total SA, YPF SA and Royal Dutch Shell Plc…

Equinor Q1 Beats Forecast

The Johan Sverdrup oilfield in the North Sea is on track to start production in November (Photo: Arne Reidar Mortensen / Equinor)

Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and

Shell Outperforms Rivals in Q1

(Photo: Shell)

Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings.Shell's results outshone those of rivals Exxon Mobil…

Higher Output Cushions BP's Profit Fall

(Photo: BP)

BP's first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were partly offset by higher production and stronger trading.The slump in profits…

Chevron Profit Falls 27%

(File photo: Chevron)

Chevron Corp's first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signaled it is committed…

ExxonMobil Misses Q1 Profit Estimates

© pichitstocker / Adobe Stock

Exxon Mobil Corp on Friday reported a 49 percent fall in first-quarter profit that missed forecasts due to weakness across its major businesses that showed the turnaround at the company remains a work in progress.The largest U.S.

GasLog Predicts LNG Spot Rate Recovery

Pic: GasLog LNG carrier

GasLog Partners, which owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters, said that the longer-term outlook for natural gas demand continued to strengthen in the first…

BSOG Gets Approval in Offshore Romania

Image: Black Sea Oil & Gas

Romanian-based Black Sea Oil & Gas (BSOG), controlled by private equity firm Carlyle Group, said that it received approval from the Romanian government for the field development plan (FDP) for the Ana and…

Eni Q1 Profit Misses Forecast

(Photo: Eni)

Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations.Adjusted net profit in the quarter…

Gas Production Set to Triple in Iraq

Graph: Rystad Energy

Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position…

Gulf of Mexico Output Lifts Hess Profits

(Photo: Hess Corp)

Hess Corp reported a surprise profit on Thursday, supported by higher production at the U.S. oil and gas producer's oilfields in the Bakken shale and Gulf of Mexico regions.The company said production from Bakken rose 17 percent to 130…