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Russian oil company enters two blocks offshore Egypt

On December 24, 2019, in Cairo, Zarubezhneft JSC, the Ministry of Oil and Mineral Resources of Egypt, the Egyptian state holding oil company GANOPE, and Pacific Oil Limited, have signed a production sharing agreement for the South East Ras El Ush and East Gebel El Zeit blocks.

read more... 27/12/2019

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Daily (26.12.2019): Crude oil prices soared in pre-Christmas trade on supply cuts commitments

Crude oil prices soared on Tuesday in thin pre-Christmas trade on Russia’s pledge to honor production cuts promised to OPEC and after U.S. President Donald Trump reiterated the conclusion of the first phase of the U.S.-China trade deal.

read more... 26/12/2019

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Daily (23.12.2019): Brent ends the week 1.4% higher on optimistic expectations for global economy

Oil futures ended lower on Friday, but both benchmarks posted a third consecutive weekly gain, mostly bolstered by easing of U.S.-China trade developments, optimistic expectations for the global economy and OPEC+ decision to deepen production cuts.

read more... 23/12/2019

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Norway's Aker BP starts production at Valhall Flank West

Oil and gas firm Aker BP has started production at its Valhall Flank West unmanned installation in the North Sea-based Valhall field, the Norwegian company said on Tuesday.

read more... 17/12/2019

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Angola: Total Invests Usd 2.5 Billion in Block 17

French oil company Total will invest USD 2.5 billion in Angolan offshore block 17 by 2023, which will allow the Angolan subsidiary to add more than 100,000 barrels of crude to its daily production.

read more... 17/12/2019

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