Lukoil Seeks to Inaugurate New Oilfield Projects in Iraq
Russia’s state-run oil company, Lukoil PJSC, is looking to set up new oilfield projects in Iraq despite OPEC+ production cuts and a slump in oil demand.
News / International
Petrobras Expects Higher 2020 Output Than Previously Predicted
Brazil’s state-run oil company, Petrobras, has announced that production in 2020 should surpass previously disclosed estimates as production is ramped up at offshore oilfields.
Saudi Crude Exports Rise MoM
Saudi Arabia’s crude exports and total products have risen over two consecutive months from its historical low in June by 1.49 million barrels per day (mmbbl/d) to 6.99 mmbbl/d in August.
PDVSA to Offload Crude from Floating Oil Facility
Venezuela’s state-owned oil company Petroleos de Venezuela (PDVSA) is set to offload crude from the Nabarima floating oil facility amid environmental concerns.
OPEC+ Warns of “Precarious” Oil Market
The Organization of Petroleum Exporting Countries and its allies (OPEC+) has warned that the state of the oil market is in a “precarious” position and has hinted towards a change of tack in regards to oil cuts.
ConocoPhillips to buy Concho Resources in Landmark $9.7 B Deal
ConocoPhillips and Concho Resources have announced that they have entered into a definitive agreement to combine companies in an all-stock transaction for a total of $9.7 billion in an attempt to further consolidate the shale industry.
TechnipFMC Awarded EPC Contract for Breidablikk
TechnipFMC has been awarded a significant Engineering, Procurement, Construction and Installation (EPCI) contract by Norway’s state-run Equinor for the Breidablikk Pipelay in the North Sea.
Aramco, SABIC Re-evaluate $20 B Petrochemical Project
The world’s largest oil company, Saudi Aramco, and Saudi Basic Industries (SABIC) have re-evaluated their $20 billion crude-oil-to-chemicals project with a view to integrating existing facilities instead.
Venezuela Cardon Refinery Halts Gasoline Production
The catalytic cracker at Venezuela’s Cardon refinery, key to gasoline production, was halted on Friday due to equipment failure.
Libya’s Production Increases to 500,000 BBL/D
Libya’s daily oil production continues to see a meteoric rise since the resumption of operations, with oil production rising to 500,000 barrels of oil per day (bbl/d).
