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Industry looks to Gulf of Mexico Lease Sale 253 for signs of offshore resurgence

40 mins ago DieselGasoil Comments Off on Industry looks to Gulf of Mexico Lease Sale 253 for signs of offshore resurgence
Highlights Total 2019 sales should exceed 2018 totals: BOEM Recent operators’ optimism for US Gulf remains high Crude holding above $50/b breakeven Houston — The oil and gas industry will be closely watching this week’s US Gulf of Mexico lease sale to determine if lower oil prices will slow the renewed optimism in offshore projects, Read More

Oxy sees greater value from Permian Basin, US Gulf post-Anadarko acquisition

6 days ago DieselGasoil Comments Off on Oxy sees greater value from Permian Basin, US Gulf post-Anadarko acquisition
Highlights Gulf of Mexico seen as ‘a keeper’: CFO Mum on which, if any, Gulf assets may be sold Already working on integration, plans for Gulf operation Denver — A major aim of Occidental Petroleum’s $57 billion acquisition of Anadarko Petroleum last week is continuing to push efficiencies and value per produced barrel across a Read More

Analysis: Oil majors maintain focus on breakevens as low prices weigh

2 weeks ago DieselGasoil Comments Off on Analysis: Oil majors maintain focus on breakevens as low prices weigh
Highlights Q2 earnings hit by prices, weak downstream M&A activity key in lowering breakevens Shell targets $30/b breakeven portfolio London — Squeezed by macroeconomic headwinds and weaker prices, global oil majors are dusting off their fighting talk in pursuit of lower-cost upstream projects. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Shell takes FID on US Gulf deepwater PowerNap tie-back project

3 weeks ago DieselGasoil Comments Off on Shell takes FID on US Gulf deepwater PowerNap tie-back project
London — Shell said Thursday it has taken the final investment decision on its deepwater PowerNap development in the US Gulf of Mexico, which is set to boost production from its Olympus production hub in 2021. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now PowerNap is a subsea tie-back Read More

Pemex stabilizes crude production, targeting growth in H2

3 weeks ago DieselGasoil Comments Off on Pemex stabilizes crude production, targeting growth in H2
Denver — Mexico’s state-owned Pemex stabilized its crude production in the second quarter of 2019, marking a first milestone for the company’s five-year business plan, executives said on an earnings call Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now During the quarter, the company’s crude production averaged 1.66 Read More

Eni softens 2019 output growth target as lower prices dent earnings

3 weeks ago DieselGasoil Comments Off on Eni softens 2019 output growth target as lower prices dent earnings
Highlights Targets 2-2.5% production growth for 2019 Venezuelan, Indonesian output slipping Heavy, sour crude prices hit refining margins London — Italian oil major Eni Friday softened its oil and gas production growth target for 2019 as lower volumes from Venezuela and Indonesia are dampening the impact of rising output from a raft of new upstream Read More

Eni trims 2019 output growth target as lower prices dent earnings

3 weeks ago DieselGasoil Comments Off on Eni trims 2019 output growth target as lower prices dent earnings
Highlights Targets 2-2.5% production growth for 2019 Venezuelan, Indonesian output slipping Heavy, sour crude prices hit refining margins London — Italian oil major Eni Friday trimmed its oil and gas production growth target for 2019 as lower volumes from Venezuela and Indonesia are dampening the impact of rising output from a raft of new upstream Read More

Italy’s Eni softens 2019 growth target as lower prices dent earnings

3 weeks ago DieselGasoil Comments Off on Italy’s Eni softens 2019 growth target as lower prices dent earnings
Highlights Targets 2-2.5% production growth for 2019 Venezuelan, Indonesian output slipping Heavy crude prices hit refining margins London — Italian oil major Eni Friday softened its oil and gas production growth target for the year as slipping volumes from Venezuela and Indonesia dent the impact of rising output from a raft of new upstream projects. Read More

Total to sell $5 bil of assets as profits slump on falling gas prices

4 weeks ago DieselGasoil Comments Off on Total to sell $5 bil of assets as profits slump on falling gas prices
Highlights Expects 2019 output growth to exceed 9% Focused on low breakeven projects Market to remain volatile on demand uncertainty London — France’s Total said Thursday it will divest $5 billion worth of its assets, mainly from its exploration and production business, as its net profit fell in the second quarter of2019 due to a Read More

Norris Industries Releases Shareholder Update with Expansion Plan

4 weeks ago DieselGasoil Comments Off on Norris Industries Releases Shareholder Update with Expansion Plan
IRVING, Texas, July 24, 2019 (GLOBE NEWSWIRE) — Norris Industries, Inc. (OTCQB: NRIS), a Texas-based E&P company (“the Company”) in the acquisition, development, and exploration of crude oil and natural gas properties, is pleased to announce a shareholder update on the Company’s business plans. The Company will continue working with limited number of capital partners Read More