Thursday, September 19, 2019

Oil Projects News

Tullow Decides $33 Mln Interim Payout

(Photo: Tullow Oil)

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least…

Shell to Invest $2 Bln per Year in Brazil

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Royal Dutch Shell has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview.Its investment plans could be…

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…

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday.The spill is the largest…

Gabon Launches Offshore Exploration Round

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Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday.In March…

Hess Has No Plans to Sell Remaining Asian Assets

(Photo: Hess Corp)

U.S. oil producer Hess Corp has no intention to sell its assets in Asia as the region provides good, steady cash flow and a stable political environment, a senior company executive told Reuters on Tuesday.While…

Schlumberger CFO Ayat to Retire Soon

Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters.Stephane Biguet…

RBS to Cease Financing of 'high-carbon energy' projects

File Image (CREDIT: AdobeStock / © Snap Happy)

Britain's Royal Bank of Scotland said on Tuesday it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies, joining other banks like HSBC in shoring up its climate policies.

Aruba Begins Talks with U.S. over Aruba Refinery Pause

File Image: The island of Aruba, with the local refinery seen in the far background (CREDIT: AdobeStock / (c) Hans)

The Aruba government said on Thursday it started talks with the United States after Houston-based firm Citgo Petroleum slowed work on an overhaul of the Caribbean island's 235,000-barrel-per-day refinery due to a lack of credit.

Hess Posts 13th Straight Quarterly Loss; Shares Dive

U.S. oil and gas producer Hess Corp posted its 13th straight quarterly loss on Monday as ballooning expenses offset rising crude prices, sending shares down nearly 5 percent. Hess last month began cutting…

Iraq's Luaibi to Reopen Pipeline to Turkey

File Image (CREDIT: AdobeStock / Berkut 34)

Iraq plans to reopen a crude oil pipeline from the Kirkuk oilfields to Ceyhan in Turkey, the oil ministry said in a statement on Tuesday, a route partly still in use by the Kurdistan Regional Government (KRG).

Buyers Eye Sinopec's Argentina Oil Assets

Sinopec's Argentine assets worth about $750 mln-$1 bln; Sonangol, Rosneft among potential suitors. Advisers to China's Sinopec have offered its oil assets in Argentina to about a dozen potential suitors, three sources familiar with the matter said…

Shell to Shed Iraqi Oil Assets

Royal Dutch Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state's flagship fields to focus on more profitable gas development. Shell's retreat highlights the challenges…

Cotemar Invests $200 mln in Oil Projects by 2018

Mexican oilfield services provider Cotemar plans to invest at least $200 million in two oil projects by the end of 2018 as it starts to operate fields on its own, a move made possible by sweeping energy reforms…

Pemex Seeks Oil Projects in Americas

Mexico's Pemex is looking for oil projects in the United States, Brazil, Colombia and Argentina to keep up output after an energy reform that means it is sharing more domestic production, a top executive from the state-run oil company said on Wednesday.

Oil Steady as Tighter U.S. Market Balances OPEC Supply

File Image (CREDIT: AdobeStock / (c) Gear STD)

U.S. reports record gasoline demand, falling crude stocks. Oil prices rose steadied on Thursday, supported by signs of a tightening U.S. market but weighed down by ample supplies from OPEC producers. Benchmark…

Suriname Signs Offshore Oil Deals with Exxon, Hess and Statoil

Suriname's state oil company Staatsolie said on Thursday it signed production sharing contracts involving Exxon Mobil Corp, Hess Corp and Statoil ASA for two blocks off the coast of the South American nation.

Rosneft's Sechin Says Will Never Leave Venezuela

Russia's Rosneft, the world's top listed oil company by output, will continue to work in Venezuela and will never leave the country, its Chief Executive Igor Sechin told reporters on Wednesday. "We will never leave Venezuela," Sechin said.

Output Spike Brightens North Sea's Twilight Years

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New oil projects over the next two years in the North Sea will have combined capacity to produce 1.2 million barrels per day (bpd), offsetting a slide in output from the oldest deepwater basin that produces the world's benchmark crude.

Cenovus Mulls Restart of Two Oil Sands Projects

Canadian oil and gas producer Cenovus Energy Inc said on Thursday it is doing engineering and design work at two of its deferred oil sands projects in northern Alberta and it could potentially reactivate them in 2018 and 2019, respectively.