The extension to March 2020 of an oil production cut deal by OPEC to remove of 1.2 mmbbl per day from the market will push Brent crude prices to US$70 per bbl, according to 66 per cent of those polled in GIQ’s monthly Energy Market Survey in July
Exploration & Production
‘Offshore project sanctioning in 2019 stands at US$56bn’
Driven by Saudi Aramco’s announced US$18bn worth of project commitments associated with the Marjan and Berri expansion projects, the overall offshore project sanctioning in 2019 stands at US$56bn and counting, according to energy research and business intelligence company Rystad Energy
World oil reserves rose 0.4 per cent in 2018: Eni
In 2018, oil reserves increased slightly (+ 0.4 per cent), mainly due to growth in the US, according to Eni’s 18th edition of the World Oil, Gas and Renewables Review, the annual statistics report on oil, natural gas and renewable sources
Dana Gas announces new oil discovery in Kurdistan, Iraq
Dana Gas, a natural gas company in the Middle East, has announced that its share of hydrocarbon reserves at Pearl Petroleum Company’s Khor Mor and Chemchemal Fields in the Kurdistan Region of Iraq (KRI) have increased by 10 per cent following the recent certification of reserves by Gaffney Cline Associates (GCA)
Eni announces new production from the Western Desert, field discoveries onshore Egypt
Eni announces that production has started from South West Meleiha Development Lease, located in the Egyptian Western Desert, some 130km North of the oasis of Siwa
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