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China's CNOOC Ltd more than doubled its first-half profit helped by higher oil and gas prices, the offshore oil and gas producer reported on Thursday. Interim net income rose 116% to 71.89 billion yuan ($10.50 billion) while revenue rose 75.6% to 176.7 billion. Oil prices have soared this year, with prices coming close to $147... Continue Reading →
Belgium-based offshore installation company DEME Offshore and Norway-based offshore services firm Havfram have signed a memorandum of understanding to jointly offer construction services to the offshore wind farm sector in Norway. "Both DEME Offshore and Havfram plan to play an important role in the upcoming Norwegian offshore wind market by delivering transport and installation services... Continue Reading →
(Reuters) - Mexico's hydrocarbon regulator has fined state oil company Petroleos Mexicanos (Pemex) for development violations at one of its most important fields that has led to excessive flaring of natural gas, and is preparing another fine for a similar field, according to three sources briefed on the matter. Pressure is mounting on Pemex to... Continue Reading →
Searcher Seismic has received approval from the Government of the Republic of Trinidad and Tobago for the Tobago Trough multi-client 3D acquisition project. The acquisition is planned as a 6,500 km² wide-tow long streamer acquisition and processed through to Pre Stack Depth Migration. It will commence as soon as an environmental impact assessment (EIA) is... Continue Reading →
The Brazilian Institute of the Environment (Ibama) granted the operating license for the shallow maritime and terrestrial sections of the Rota 3 gas pipeline. As a reminder, the Rota 3 Integrated Project covers the gas pipeline and the Natural Gas Processing Unit of the Gaslub Hub. Rota 3 has a total length of approximately 355... Continue Reading →
(Reuters) The European Union is planning a five-fold increase in financial support to an African military mission in Mozambique, an internal EU document shows, as Islamist attacks threaten gas projects meant to reduce the EU's reliance on Russian energy. The energy squeeze due to the Ukraine war has added impetus to Europe's scramble for gas... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
Oil major Shell has made a gas discovery in ultra-deep waters in the southern Colombian Caribbean, its partner, Colombia-based oil company Ecopetrol, said. The Gorgon-2 well is located 70 kilometers off the coast and was drilled at a water depth of around 2,400 meters, making it the deepest well drilled in Colombian waters. "The drilling of... Continue Reading →
(Reuters) - Argentina is planning to give tax and customs benefits to oil companies so they can boost production, the country's new economy "superminister" said on Thursday. The move comes as the country seeks to turbo-charge investments in the Vaca Muerta shale formation, the world's fourth-largest shale oil reserve and the second-largest for shale gas.... Continue Reading →
(OEM) The American Petroleum Institute (API), a trade association representing the oil and gas industry, believes ramping up domestic production and turning to U.S.-made energy is the answer to the global supply and demand imbalance hitting Americans at the pump and impacting the broader economy. The American Petroleum Institute claims that energy demand is outstripping supply... Continue Reading →
