In the event of another deadlocked meeting on 6 April, Saudi Arabia will suffer a bigger hit than Russia with regards to the impact on oil and gas revenues, fiscal breakeven price, fiscal deficit and foreign currency reserves, budget deficits and domestic policy.
Upstream news updates
The hull is being towed to the Sembcorp Marine Admiralty Yard in Singapore, where the topsides will be integrated, before the completed FPSO is towed to the Karish field in Israel for installation and hook-up.
The company is targeting CAPEX of c.US$300 million in 2020 (down from c.US$350 million) and decommissioning expenditure of c.US$65 million (down from c.US$100 million).
Oil has been discovered n the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt offshore Brazil.
Sapakara West-1 was drilled to a depth of approximately 6300 m (20 700 ft), and successfully tested for the presence of hydrocarbons in multiple stacked targets.
The company has made an additional reduction in the 2020 capital plan down to the new midpoint of US$780 million from the previously announced US$950 million in March 2020.
The 5600 km2 survey will be undertaken over 90 days and is an extension of Atlantic Margin surveys acquired between 2017 and 2019.
ANP announced the suspension in compliance with a request from the country's Ministry of Mines and Energy.
The company has more than US$585 million of cash on its balance sheet and will continue to operate its business in the normal course without material disruption to its vendors, partners or employees.
More oil news updates
The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area.
Australia's National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has advised of its acceptance of the Scarborough offshore project proposal.
The company has announced a 30% reduction in 2020 CAPEX to US$300 million.
Oil production will be cut by 200 000 bpd, a volume that includes the reduction of 100 000 bpd announced on 26 March 2020.
At 4265 ft (1300 m), the first well that has been opened for early first gas is the deepest water depth opened by ONGC.
The company has said it has sufficient liquidity to weather the challenges of low commodity prices and the Covid-19 pandemic.
BP has cut its 2020 spending plans by 25% and will reduce output from its US shale oil and gas business.
Applied Petroleum Technology will provide geochemical analyses including consultancy services to deliver interpretation of drilling samples and other reservoir data.
The company's 2019 projects were mainly concentrated in Russia and Uzbekistan.
Analysis by the African Energy Chamber has identified Senegal, Angola and Nigeria as particularly vulnerable.
Silver Eagle says the self-propelled design is capable of working at greater water depths and in harsh environments.
Key has made an application a 12-month Suspension and Extension for Permit Year 3 in which the Wye Knot-1 well was to be drilled.
Mitquq 1 ST1 flowed at a stabilised rate of 1730 bpd from a single stimulated zone, while the Stirrup 1 exploration well flowed at a stabilised rate of 3520 bpd from a single stimulated zone.
Aker Energy was due to charter an FPSO for the deepwater Tano/Cape Three Points (DWT/CTP) project, offshore Ghana.