INDONESIA HAS CLAIMS
TOGY wrote, Indonesia will increase exploration work in the area surrounding the Natuna Islands, located in the contested waters of the South China Sea, the country's president said on Wednesday.
President Joko Widodo's announcement comes a week after a visit to the island chain aboard a navy vessel. Indonesia lays claim to the Natunas and the surrounding waters, which it intends to open up for oil exploration and commercial fishing. The Chinese, through a statement by the Foreign Ministry last Sunday, said the two countries "have overlapping claims for maritime rights and interest."
"Out of 16 blocks around Natuna, only five are producing," Widodo said, adding that the country was aiming to push for fast-track development "so that they enter [the] production stage sooner." The area's East Natuna gasfield is under development by Pertamina, along with partners ExxonMobil, Total and Thailand's PTT Exploration and Production. ConocoPhillips and Chevron are active in the South Natuna Sea Block B but are expected to withdraw from the field.
|September, 24, 15:35:00|
|September, 24, 15:30:00|
|September, 24, 15:25:00|
|September, 24, 15:20:00|
|September, 24, 15:15:00|
|September, 24, 15:10:00|
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.
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.
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.
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.