The Management of the Nigerian National Petroleum Corporation (NNPC) has clarified that it has neither 70,000 staff in its employ nor is it embarking on a staff performance probe. The clarification is sequel to reports in a section of the media insinuating that NNPC has a staff strength of over 70,000 and was about conducting …
BW offloads first oil cargo from Tortue field FPSO
BW Adolo; Source: BW Offshore First oil cargo was offloaded from the BW Offshore-owned FPSO BW Adolo located offshore Gabon on Sunday, December 2. A total of 550,000 bbls of oil were transferred from the FPSO to a tanker which will transport the crude oil to a refinery, BW Offshore said on Monday. The …
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TechnipFMC, Van Oord land Mozambique project work
U.S. oil and gas company Anadarko has selected a consortium consisting of TechnipFMC and Van Oord as the preferred tenderer for the engineering, procurement, construction, and installation (EPCI) of the offshore subsea system for its Mozambique LNG project. Offshore Energy Today reported in late October that Anadarko had been waiting for the approval from the Government of …
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Qatar Decision to Quit OPEC Surprises by Andreas Exarheas Rigzone Staff | Qatar's decision to leave OPEC has been described as a 'surprise' by Cantor Fitzgerald Europe. Qatar’s decision to leave OPEC has been described as a “surprise” by Ashley Kelty, an oil and gas research analyst at Cantor Fitzgerald Europe. “The decision by …
Russia and Saudi Arabia Will Extend OPEC+ Oil Pact
by Bloomberg Ilya Arkhipov, Javier Blas and Nayla Razzouk | Russia and Saudi Arabia agree to extend into 2019 their deal to manage the oil market. (Bloomberg) -- Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market, known as OPEC+, although Moscow and Riyadh have yet to …
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Oil Jumps Most Since June
by Bloomberg Heesu Lee | Oil was jolted higher by efforts across the globe to support prices. (Bloomberg) -- Oil was jolted higher by efforts across the globe to support prices as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. Futures shrugged …
Oil Market Hinges on Saudi Dilemma
by Bloomberg Javier Blas | The choice facing Saudi Arabia at next week's OPEC meeting is dramatic. (Bloomberg) -- The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy. For Mohammed bin Salman, the …
Oil Poised for Worst Month in 10 Years
by Bloomberg Heesu Lee Oil's on track for its worst month in a decade on growing fears over a global supply glut that's been exacerbated by American waivers to Iranian crude buyers. (Bloomberg) -- Oil’s on track for its worst month in a decade on growing fears over a global supply glut that’s been …
OPEC daily basket price stood at $59.25 a barrel Wednesday, 28 November 2018
Vienna, Austria, 29 November 2018--The price of OPEC basket of fifteen crudes stood at $59.25 a barrel on Wednesday, compared with $59.05 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), …
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Oil Falls Below $50 for First Time in Over a Year
by Bloomberg Heesu Lee | Oil crashed below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit to supply cuts. (Bloomberg) -- Oil crashed below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit …
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