Argentinean state-run oil and gas company, YPF, and its Norwegian counterpart, Statoil, have entered into definitive agreements for the exploration and potential joint development of an unconventional field in central-west Argentina.
U.S. crude oil supply will surpass the 10-million-barrels-per-day (MMBPD) mark this year, overtaking Saudi Arabia and rivalling Russia, the International Energy Agency (IEA) said Friday on its monthly oil report.
The global oil glut is shrinking and the monetary tightening expected in 2018 isn’t likely to have considerable impact on oil market, particularly in an environment of improving economic growth, OPEC said on Thursday.
The Joint Ministerial Monitoring Committee (JMMC) will meet this weekend in Oman to discuss the ongoing output cuts agreed amongst OPEC and non-OPEC oil producers, but an exit strategy it’s on the agenda, Kallanish Energy understands.
British oil major BP signed Thursday a memorandum of understanding (MoU) with Iraq’s oil ministry and the Iraqi state-run North Oil Company to raise production capacity at Kirkuk oilfield by 750,000 barrels per day (BPD), Kallanish Energy reports.
Abu Dhabi National Oil Company (Adnoc) has stored 240,000 tonnes of carbon dioxide collected from Emirates Steel (ESI) since the steelmaker commissioned its carbon capture (CC) unit in late 2016, Kallanish, sister publication of Kallanish Energy, finds.
Attacks to oil and gas infrastructure in late Dec. and early Jan. are starting to have a toll on Colombian crude exports, with volumes currently hovering around 540,000 barrels per day (BPD), data provider ClipperData said on Wednesday.
Colombian crude oil production has surpassed estimates in 2017, averaging 854,121 barrels per day (BPD), compared to the 840,000 BPD expected, Kallanish Energy learns from the country’s energy ministry this week.