OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above-average increase, sources close to OPEC said.OPEC's forecast…
The bosses of global energy companies this week urged governments to shift the focus to limiting oil demand to reduce emissions, rather than pressuring producers to curb supply, which they say serves only to increase prices.Some western governments…
UK-based oil major BP, and India's Reliance Industries Limited (RIL) on Friday confirmed the start of production from the MJ field offshore India, following testing and commissioning activities. The MJ field represents the last of three major…
Israel should urgently examine how much natural gas the country should export to make sure it keeps enough for itself, a senior official at Israel's Finance Ministry said in a letter seen by Reuters. The country is expected to roughly double…
Malaysia's state energy firm Petronas sees its domestic oil and gas production peaking at about 2 million barrels of oil equivalent per day (boepd) by 2024, its exploration executives said on Tuesday.About 60-70% of its production is natural gas and will remain so going forward…
The Indonesian government hopes to have the matter of the operatorship of the Indonesia Deepwater Development (IDD) gas project settled by next month after years of delay, the energy minister said on Friday.Operator Chevron, which owns a 62% stake…
Differentials for some grades of Nigerian crude rose on Friday, while Chinese refiners stepped up purchases of crude from other West African exporters.At least around 35 cargoes of Nigerian crude for loading in June and July have yet to find a buyer…
ADNOC Offshore has awarded ADNOC Logistics and Services a $975-million contract to build an artificial island for an offshore oil field project in Abu Dhabi.According to ADNOC L&S, at least 75% of the total contract value for dredging, land…
Chevron Australia and the Gorgon Joint Venture Participants have announced the production of first gas from the Gorgon Stage Two development off the northwest coast of Western Australia.The development expands the existing subsea gas gathering network of the Gorgon Project…
Kazakhstan is pressing ahead with $16.5 billion in claims against international oil majors over disputed project costs and has no plans for a possible out-of-court settlement, Energy Minister Almasadam Satkaliyev said on Tuesday.The legal wrangling…
Top crude exporter Saudi Arabia's one million barrel per day (bpd) oil output cut is unlikely to underpin a 'sustainable price increase' into the high $80s-low $90s with weak fundamentals pointing to lower prices by year-end, Citi analysts said in a note on Tuesday…
PTSC South East Asia (PTSC SEA) has received a 5-year extension for the bareboat charter contract for FSO PTSC Bien Dong 01.PTSC South East Asia is a joint venture between Malaysia's Yinson Production (“YP”) and PetroVietnam Technical Services Corporation (PTSC)…
Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day (bpd), Reuters calculations based on data from two sources familiar with preliminary data showed on Monday…
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.Saudi Arabia, the group's biggest producer, will…
The MN1 oil production well at the OMV-operated Maari/Manaia field offshore New Zealand has restarted production after having been offline since May 2022.Cue Energy, a partner in the Maari Joint venture, on Friday, announced the successful repair of the well…
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