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CNOOC Limited signs agreement with JSC Novatek for the Arctic LNG 2 project

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4/25/2019 HONG KONG — CNOOC Limited has announced that the company has signed a heads of agreement with JSC Novatek, a Russian gas producer, for the acquisition of 10% interest of the Arctic LNG 2 project. The Arctic LNG 2 Project is located on the Gydan Peninsula, Russia and the second large onshore conventional natural Read More

Reuters corrects story on alleged deal between Rosneft and Venezuelan oil company

2 days ago DieselGasoil Comments Off on Reuters corrects story on alleged deal between Rosneft and Venezuelan oil company
Reuters has corrected its piece alleging a shady scheme involving Russian oil giant Rosneft helping Venezuela evade US sanctions. The news agency said it did not determine that any payments actually took place. The exclusive story was originally published by Reuters on April 18. Based solely on undisclosed “documents and sources,” it claimed that Rosneft was Read More

Viking Energy Group showcases operations, technical team

2 days ago DieselGasoil Comments Off on Viking Energy Group showcases operations, technical team
4/23/2019 HOUSTON — Viking Energy Group, Inc., an independent exploration and production company focused on the acquisition and development of oil and natural gas properties, is pleased to provide detailed information on its operational and technical team, who are assisting with Viking’s strategy to acquire, enhance and develop new and existing assets in the Mid-Continent Read More

Lukoil produced 100 MMt of oil at West Qurna-2 field

3 days ago DieselGasoil Comments Off on Lukoil produced 100 MMt of oil at West Qurna-2 field
4/23/2019 West Qurna field, Iraq. Photo: Lukoil. IRAQ — Cumulative production at the West Qurna-2 field has reached 100 MMt of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 bbl. To manage the field’s production, Lukoil uses Read More

The perfect storm that could drive oil even higher

4 days ago DieselGasoil Comments Off on The perfect storm that could drive oil even higher
After rallying more than 30 percent year to date, oil prices could be set for a further upside in coming weeks as a combination of near-term bullish supply-side factors could push prices higher than current levels. Over the next few weeks, several critical geopolitical events could set the trend for even higher oil prices in Read More

Reliance rebukes reports of inappropriate payments for Venezuela oil

6 days ago DieselGasoil Comments Off on Reliance rebukes reports of inappropriate payments for Venezuela oil
By Bibhudatta Pradhan on 4/20/2019 Photo: Reliance Industries. NEW DELHI (Bloomberg) — Claims of Reliance Industries Ltd.’s purchases of crude oil from Venezuela’s state-owned oil company, PDVSA, for payment in cash to third parties are false, according to the company. “Reliance has purchased Venezuelan crude oil from companies such as Rosneft long before the imposition Read More

Reportage or ‘sabotage’? Rosneft wants Reuters BANNED in Russia after story on Venezuela oil deal

6 days ago DieselGasoil Comments Off on Reportage or ‘sabotage’? Rosneft wants Reuters BANNED in Russia after story on Venezuela oil deal
Russian oil giant Rosneft has lashed out at Reuters, calling the agency’s claims the company helped Venezuela avoid US sanctions “informational sabotage” and promising to work towards banning it in its home country. In its exclusive piece on Thursday, which was solely based on undisclosed “documents and sources,” Reuters accused Rosneft of cashing in checks for Read More

Exclusive: Spain’s Repsol suspended swap deal for Venezuelan oil under U.S. pressure

1 week ago DieselGasoil Comments Off on Exclusive: Spain’s Repsol suspended swap deal for Venezuelan oil under U.S. pressure
HOUSTON/MEXICO CITY (Reuters) – Spain’s Repsol suspended its swaps of Refining products for crude with Venezuela’s state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weighed penalties for foreign firms doing business with Venezuela. FILE PHOTO: The corporate logo of Repsol is seen in their office in Caracas, Venezuela April 25, Read More