oil and gas industry

CNOOC begins production on Huizhou 26-6 oilfield development project

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

The project is located in the Pearl River Mouth Basin, with an average water depth of approximately 110 meters. The main production facilities include a new intelligent drilling production platform, as well as the adaptively modified “NAN HAI FEN JIN” FPSO. A total of 19 development wells are planned to be commissioned, including 2 oil production wells and 17 gas production wells. The project is expected to achieve a peak production of approximately 20,600 boed in 2027. The main products include light crude and natural gas.

ABL completes scope on FSRU Toscana Project

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

In mid-April 2024, the FSRU Toscana was successfully towed with the support of two tugs, to the port of Genoa, Italy, where it began the first phase of an ‘extraordinary maintenance intervention’ campaign. The FSRU Toscana was subsequently towed to the port of Marseille, France, where maintenance was completed. The FSRU has recently been towed to its site offshore Livorno, Italy, where it resumed commercial operations at the end of November 2024.

Afreximbank, JE Energy sign $100 million agreement for Guyana crude oil export contracts

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

Under the terms of the agreement signed on the sidelines of the African Energy Week last month, JE Energy Limited, which has been awarded contracts to lift and market crude oil from Guyana, shall utilize the two-year facility to finance the purchase and sale of crude oil from Guyana’s Ministry of Natural Resources for onward sale to reputable international offtakers.

Europe Depletes Gas Inventories At Fastest Rate in Six Years Ahead of Winter

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

Europe is depleting its natural gas reserves at the fastest rate in six years as still winter weather and low temperatures combine to challenge the continent’s transition away from hydrocarbons—and delay it.

Traders Become More Bullish on European Diesel as Winter Arrives

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

Hedge funds and other portfolio managers have been slashing their bearish bets on the European ICE gasoil futures amid falling temperatures and rising natural gas prices in Europe.

Why China is Finally Turning Its Back on Iranian Oil

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

These plants only started buying Iranian crude this year after receiving guidance from the US State Department that sanctions wouldn’t be enforced by the Biden administration, according to a note from the industry consultant, which didn’t name the refiners

Europe’s Gas Storage Plummets at Fastest Pace in 8 Years

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

Europe’s gas inventories have depleted at the fastest rate for eight years, as the region has experienced repeated bouts of colder-than-normal temperatures and low wind speeds since the start of the winter heating season.

DNO strikes oil in new play offshore Norway

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

DNO had two exploration targets: a deeper prospect (Falstaff), where no reservoir was encountered and a shallower prospect (Othello), where a 16-metre net oil-bearing reservoir was encountered. Preliminary estimates indicate that gross recoverable resources could lie in the 27 million-57 million boe range.

QatarEnergy inks long-term LNG supply deal with Shell

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

The deal will see Qatar supply 3 million tonnes per year (tpy) of LNG, commencing in January. The duration was not specified.

Colombia’s Ecopetrol to build green hydrogen plant at key refinery

Oil & Gas‚ Oil and Gas Industry | intent | December 3, 2024 | Comment off

The company will invest USD 28.5 million in the plant, which will have an output of 800 tonnes of green hydrogen a year, placing it among South America’s largest such facilities.

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