Rawson Resources Ltd., Sydney, has been awarded a permit in the sparsely explored Cape Vogel basin offshore east Papua New Guinea. Source: News
Statoil cuts capex by another $1 billion
Statoil ASA is lowering its capital expenditure guidance for 2016 by another $1 billion after taking a third-quarter adjusted net loss of $261 million, down from adjusted earnings of $445 million a year earlier. Source: News
Chevron posts third-quarter earnings of $1.3 billion
Chevron Corp. reported third-quarter earnings of $1.3 billion, down from $2 billion in the third-quarter 2015. Source: News
WoodMac sees US independents seeking cash-flow neutrality
Independent operators are likely to remain cautious while setting 2017 budgets, said WoodMackenzie Ltd. analysts, adding that higher oil prices are needed before independents are willing to commit to investments that would meaningfully boost production growth. Source: News
ExxonMobil’s third-quarter earnings slide 38%
ExxonMobil Corp. recorded third-quarter earnings of $2.7 billion, down from $4.2 billion a year earlier. The Irving, Tex.-based multinational firm says the results reflect lower refining margins and commodity prices. Source: News
Rystad: Half of offshore cost reductions come from downsizing, simplifications
Offshore developments have experienced lower breakeven prices over the last 2 years with more than half of the cost reductions achieved through downsizing, simplification, and design, said Rystad Energy. Source: News
NY Supreme Court orders ExxonMobil to comply with AG’s subpoena
The New York Supreme Court ordered ExxonMobil Corp. and its outside auditor, PwC LLP, to comply with a subpoena the state attorney general’s office issued on Aug. 19 for documents related to the financial services firm’s work for the multinational oil company. Source: News
Petronas reports fatality at Kertih gas processing complex
Petronas Gas Bhd. (PGB), a subsidiary of state-run Petroleum Nasional Bhd. (Petronas), is investigating the cause of an unidentified incident at its Gas Processing Kerith (GPK) complex in Kertih, Terengganu, Malaysia. Source: News
KNPC lets contract for refineries’ Clean Fuels Project
Kuwait National Petroleum Co. (KNPC) has let a contract to SPIE Oil & Gas Services, a subsidiary of SPIE SA, Cergy, France, to provide commissioning management and support services (CMSS) for KNPC’s Clean Fuels Project (CFP), which aims to upgrade and expand its Mina Abdullah and Mina Al Ahmadi refineries in southern Kuwait. Source: […]
ExxonMobil makes oil discovery offshore Nigeria
ExxonMobil Corp.’s Owowo-3 well has encountered a 460-ft column of oil-bearing sandstone offshore Nigeria. Combined with the operator’s Owowo-2 discovery, which encountered 515 ft of reservoir, the field could contain 500 million bbl to 1 billion bbl of oil, ExxonMobil said. Source: News