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.
As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.
Genel Energy expects to record an impairment charge of $181million on its books for 2016 after reserves were downgraded at the Taq Taq field in Iraq.
Iraq is to start offshore exploration in a bid boot its OPEC reserves, the country's oil minister has claimed.
AGR has struck a frame agreement with Det Norske for annual, independent reporting of the company's reserves portfolio.
Mexico's oil and gas reserves dropped by 21.3% last year, according to the country's regulator.