NORWAY'S GAS UP
Norway's natural gas production in October 2015 was higher than both forecasts and October 2014 production. Apart from June 2014, the country consistently reported an year-on-year increase in monthly gas production throughout 2015.
"The total petroleum production for the first ten months in 2015 is about 188.6 million Sm3 [standard cubic metres] oil equivalents (MSm3 o.e.), broken down as follows: about 74.9 MSm3 o.e. of oil, about 18.2 MSm3 o.e. of NGL and condensate and about 95.5 MSm3 o.e. of gas for sale. The total volume is 10.3 MSm3 o.e. higher than for the same period in 2014," the Norwegian Petroleum Directorate (NPD) wrote on Friday.
NPD also wrote that total gas sales were about 10.8 billion Sm3, which is 1.5 GSm3 more than previous month.
Also on Friday, NPD granted Lundin a drilling permit for well 7130/4-1.
"The drilling programme for well 7130/4-1 relates to the drilling of an exploration well in production licence 708 where Lundin Norway AS is the operator with an ownership interest of 40 per cent," the Stavanger organisation wrote in a separate press release. "The other licensees are Lukoil Overseas North Shelf AS (20 per cent), Edison Norge AS (20 per cent), Lime Petroleum Norway AS (10 per cent) and Pure E&P Norway AS (10 per cent)."
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.