The Glengorm gas discovery, hailed as the biggest in the UK North Sea for more than a decade, could still turn out to be a major find despite suffering a setback, an analyst has said.
The first appraisal well on the Glengorm gas field in the UK central North Sea has found "no commercial hydrocarbons", a project partner said today.
CNOOC, China’s third-largest oil company, confirmed it has extinguished a fire at a platform on its Penglai fields in northeast China. The fire is expected to cut crude output at the Penglai 19-3 field by around 600,000 barrels this year.
Three crew members are missing following a well blowout and fire at an oil production platform in the Bohai Sea in northeastern China earlier this week that stopped operations at one of the country’s largest oil fields.
Australia-headquartered Finder Energy has been awarded a new licence in the UK North Sea.
Westwood Global Energy reports that as of March 31 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
PetroChina, China’s biggest oil company, plans a 239 billion yuan ($37 billion) capital spend this year, making it the world’s top spending oil firm in 2021, beating the likes of Saudi Aramco and ExxonMobil.
CNOOC, China’s third largest oil company, is expected to start production at Lingshui 17-2, a large deep-water natural gas field in the South China Sea, during the first half of 2021.
With Covid-19 continuing to impact the profitability of the supermajors, Ano Kuhanathan, sector advisor at trade credit insurer, Euler Hermes, argues that now is the time for the supermajors/Big Oil to start spinning off their renewables divisions.
Cnooc is aiming to clear some of its project backlog after booking Prosafe's Safe Boreas accommodation vessel for the Buzzard field.
Malaysia’s Petronas and China National Offshore Oil Corporation (CNOOC) will expand their ties in the energy sector through closer collaboration beyond liquefied natural gas (LNG) and upstream projects.
The joint heads of a taskforce are “absolutely confident” the group’s work will help stimulate an imminent ramp-up in North Sea oil-well decommissioning activity.
As key contributors to OGUK’s events programme, Lois Wilkinson and Isabella Busch help organise a host of events including the representative body’s annual awards, where members of the next generation achieved industry recognition.
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Transparency in reporting is producing results, with most operators showing year on year improvements towards gender balance. We encourage all employers to publish their data without delay, and use it to drive their action plans. With metrics like the median pay gap (-3% to 46%), percentage of women at the top (5% to 35%) and percentage of women overall (11% to 41%) varying massively between organisations, it’s clear balance is attainable within our industry but it takes sustained determination at all levels of leadership.
Russian gas independent Novatek is set to export more than 3 million tonnes per year (t/y) of LNG to China from the Arctic LNG 2 project as part of its latest deal with Shenergy Group.
Prosafe has signed a £6.1 million contract with CNOOC for the charter of the Safe Boreas accommodation vessel at the Buzzard platform in the UK North Sea.
Westwood Global Energy reports that as of February 24 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Profits dropped more than 70% for engineering services giant Worley during the first half of its 2021 financial year.
China Oilfield Services Limited (COSL) is expected to have another solid year in 2021 as offshore capital spending is set to surge to record levels in China.
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Westwood Global Energy reports that as of 1 February there was one exploration well and one appraisal well active in the UK, with no change since the last report.
China National Offshore Oil Company (CNOOC) has awarded a two-year North Sea contract to engineering services firm Worley.