Sunday, February 16, 2020

Shadia Nasralla News

Oil Prices Climb on Hopes of Deeper OPEC+ Production Cuts

AdobeStock_45230 / Adobe Stock

Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world's biggest producers, whilst largely shrugging off reports which…

Tullow to Axe a Third of Its Workforce

(Photo: Tullow Oil)

Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana…

US Oil Workers Leaving Iraq After Air Strike

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Dozens of U.S. citizens working for foreign oil companies in the southern Iraqi oil city of Basra were leaving the country on Friday, the Oil Ministry said, after a U.S. air…

Energean Seeks to Pipe Karish Gas to Cyprus

Stena's DrillMAX drilling Karish North, offshore Israel (Photo: Energean)

Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.In its application to Cypriot authorities…

Oil Prices Creep Higher on U.S.-China Hopes and OPEC Talks

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Oil prices crept upwards on Monday, with Brent reaching its highest in more than a month after the previous day's boost from growing expectations of a U.S.-China trade deal…

BP Raises Asian Profile

(Photo: BP)

BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China's Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant…

Oil Falls 1% on Surprise U.S. Crude Build, Saudi Crude Output

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Oil shed more than 1% on Wednesday, logging a second straight day of losses after U.S. crude stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected…

Saudi Minister Commits to Output Cuts

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Oil prices rose more than 2% on Monday after the new Saudi energy minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country's policy…

Total CEO: Britain Must Stick by Brexit Mistake

Total CEO Patrick Pouyanne speaks at Offshore Europe in Aberdeen (Photo: Eric Haun

The chief executive of French oil major Total believes that Britain should stick by its decision to leave the European Union even though he thinks it is a fundamental mistake…

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…

Premier Oil Cuts Operating Costs Forecast

Catcher (Photo: Premier Oil)

Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the…

Guyana Boosts Gov't Royalties for Future Oil Licenses

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Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country's Department of Energy said on Wednesday.U.S. energy giant Exxon…

OPEC+ Extends Output Cuts

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OPEC and its allies led by Russia agreed to extend oil output cuts until March 2020 on Tuesday, seeking to prop up the price of crude as the global economy weakens and U.S.

Tullow's Kenya, Uganda Projects Timelines Slip

(Photo: Tullow Oil)

Britain's Tullow Oil has delayed the final investment decision (FID) for its Kenya project to 2020 and has not yet sealed a tax deal in Uganda that is needed for the progress of its plans there with Total…

Oil Prices Mixed Ahead of US Crude Sstock Data

© Ron Sumners / Adobe Stock

Oil prices were mixed on Tuesday ahead of data expected to show U.S. crude stocks declining, outweighing investors' concerns that U.S.-China trade tensions could dampen fuel…

Oil Prices Jump 2% After Tanker Attacks

(Photo: Islamic Republic News Agency)

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping…

Hurricane Achieves First Oil at Lancaster

(Photo: Hurricane Energy)

Hurricane Energy has announced first oil at its Lancaster field off Scotland, the first such success for so-called fractured basement reservoirs in Britain and a major milestone…

Ithaca Buys Chevron's UK North Sea Fields

(Photo: Chevron)

Israel's Delek Group moved closer to listing its Ithaca Energy subsidiary on Thursday by buying most of Chevron's British North Sea oil and gas fields for $2 billion.Under pressure…

Tullow Oil Cuts Output Guidance

(Photo: Tullow Oil)

Tullow Oil downgraded its 2019 output guidance to 90,000-98,000 barrels of oil per day (bpd) due to problems at its Ghana fields and sees final go-aheads for its Uganda in the…

Orinduik Partners to Drill 2nd Well Off Guyana

Stena Forth (Photo: Stena Drilling)

Partners Tullow Oil, Total and Eco Atlantic have chosen the Joe prospect for a second well in their much-watched Orinduik oil and gas field off Guyana's coast, Eco said on Friday.Eco…