Latest news
Russia plans to accelerate pace of oil cuts: Novak
Russian energy minister Alexander Novak said Moscow is seeking to accelerate the pace of its oil production cuts under the Opec+ agreement, but reiterated it faces operational challenges, Kallanish Energy reports.
read more... 21/01/2019
OMV in plans for $6bn initial spend to develop Norway oil discovery
Austria's OMV and partners plan to invest up to $6 billion initially to develop the Arctic Wisting oil find, Norway's northernmost oil discovery, which could start production within a decade, a senior executive said on Wednesday.
read more... 17/01/2019
Russia’s Looks To Build ‘LNG Island’ To Supply Booming Asian Market
While Russia’s gas giant Gazprom is working to complete the Power of Siberia gas pipeline expected to begin delivering gas to China in December 2019, another Russian company—the country’s biggest liquefied natural gas (LNG) producer Novatek—is looking to boost LNG supply to the growing Asian market.
read more... 16/01/2019
Equinor to drill seven new wells at Gullfaks to recover even more resources
Norwegian oil and gas major Equinor and its partners have decided to drill seven new wells at Gullfaks field located offshore Norway and improve oil recovery by 17 million barrels.
read more... 16/01/2019
Norway’s Oil Production To Fall To 30-Year Low
Despite cost controls, increased efficiency, and higher activity offshore Norway, oil production at Western Europe’s largest oil producer fell in 2018 compared to 2017 and is further expected to drop this year to its lowest level since 1988.
read more... 14/01/2019