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2014-03-17 08:03:00

SHELL HITS OIL

SHELL HITS OIL

UPSTREAM. Shell has made an oil discovery with an appraisal well at the Limbayong gas field off the coast of Sabah, Malaysia.
State-run Petronas, which holds a stake in the well, revealed on Monday the Limbayong-2 well had intersected 136 metres of oil bearing sands and added more work would be carried out on the discovery to determine its recoverable volume.

"We are indeed pleased with the discovery which affirms the hydrocarbon prospects of Malaysia's deep-water areas," Petronas executive vice president of exploration and production, Dato' Wee Yiaw Hin said.

The Limbayong discovery lies in 1000 metres of water on Block J, which also hosts the Gumusut oilfield, and is understood to have been made in the early 2000s and contains about 800 billion cubic feet of gas reserves.

The drilling of Limbayong-2 was carried out by a consortium which includes Shell (35%), ConocoPhillips (35%) and Petronas (30%).

Tags: SHELL, OIL, GAS, MALAYSIA, CONOCOPHILIPS, PETRONAS

Chronicle:

SHELL HITS OIL
2018, September, 24, 15:05:00

SAUDI ARAMCO WANTS +50%

ARAB NEWS - Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (bpd) in 2020, 50 percent higher than current levels, the company's top official said on Monday.

SHELL HITS OIL
2018, September, 24, 15:00:00

U.S. RIGS DOWN 2 TO 1,053

BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 1,053, with oil rigs down 1 to 866, gas rigs unchanged at 186, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 29 rigs from last week to 197, with oil rigs down 13 to 135 and gas rigs down 16 to 62.

SHELL HITS OIL
2018, September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

REUTERS - International benchmark Brent crude for November delivery LCOc1 was up 26 cents, or 0.33 percent, at $78.96 a barrel by 0647 GMT. U.S. West Texas Intermediate crude for October delivery CLc1 was up 7 cents, or 0.10 percent, at $70.39 a barrel.

SHELL HITS OIL
2018, September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

BLOOMBERG - Russia's oil output is currently fluctuating between 1.54 million and 1.55 million tons a day -- driven mainly by state-run giant Rosneft PJSC -- the official said, asking not to be named as the information isn’t public yet. That equates to 11.29 million to 11.36 million barrels a day, beating the previous record of 11.25 million barrels a day set in October 2016 before Russia agreed with the Organization of Petroleum Exporting Countries to cut production.

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