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Friday, July 3, 2020

Italy’s Eni to start production in Egypt by end of year

CAIRO  - Italian oil and gas company Eni said on Tuesday that Zohr oil field, which the company discovered in 2015, will enter production before end of year, Eni's chief executive said at an oil conference in Cairo on Tuesday. Zohr is the biggest gas...

W. Africa Crude-Asian tenders and pending April export plans slow trade

Physical trading in West Africa was muted as the market awaited tender results and the April-loading Angolan crude oil export plan. * The benchmark oil prices on which West Africa crude oil trades retraced some of Monday's losses as confidence in OPEC's cut plan rose. *...

2.2m barrel oil production possible as IOCs lift Nigerian crude grades restriction

… Experts say militancy will be determining factor Within the last six months, three out of four of Nigeria’s major crude grades – Bonny Light, Qua Iboe and Brass River have emerged from force majeure –  a legal clause that absolves parties to a contract...

Oil falls on rise in U.S. drilling, selling ahead of OPEC report

Oil prices fell nearly one percent on Monday in response to growing evidence that U.S. production is rising and as some investors unwound positions ahead of OPEC’s first report on compliance with its deal to cut production. Global benchmark Brent crude futures <LCOc1> were down...

Oil and gas discoveries dry up to lowest total for 60 years

Companies are putting a brake on exploration and large fields are harder to find by: Ed Crooks in New York and Andrew Ward in London Discoveries of new oil and gasfields have dropped to a fresh 60-year low, as companies put a brake on exploration and...

Oil rises on 90 percent compliance on OPEC output deal

Oil prices rose more than 1 percent on Friday after the International Energy Agency (IEA) reported record initial compliance by OPEC members implementing last year's landmark deal to curb output in an effort to prop up global oil prices. Members of the Organization of the...

Eni Angolan project ahead of schedule; India’s IOC awards tender

* Italy's Eni said on Wednesday that it started production at the East Hub Development Project in its Block 15/06 off Angola five months ahead of schedule. * Eni began producing from the West Hub Project in the same block at the end of 2014....

W. Africa Crude: Litte spot movement as sellers targeted tender

LONDON Feb 8 (Reuters) - * Oil prices rose despite surge in U.S. crude oil stocks. Crude imports jumped by 1.1 million barrels per day, with an increase in imports at the Gulf Coast helping push stocks in that region to a record. * Workers...

Nigeria seeks $50b biofuel equity fund

The Central Bank of Nigeria (CBN) has revealed the content of a draft document of Nigerian bio fuel policy and incentive which is said to envisage that equity funding arrangement to be known as Bio Fuel Industry Equity Fund (BIEF) of $50 billion will...

Oil market ‘responding positively’ to output cut

Qatar’s energy minister, the current OPEC president, said Wednesday that world oil markets were “responding positively” to output cuts implemented by the cartel and some non-cartel producers. “I think the market is responding positively and you can see the drop in supply,” Mohammed Saleh al-Sada...
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