Oil & gas news

The impairment is expected to be recognised in the company's 2020 half-year results to be released on 20 August 2020.

Oil prices are having some modest gains today, supported by the EU recovery deal.

Halliburton has announced a net loss of US$1.7 billion for 2Q20, compared to a net loss for 1Q20 of US$1 billion.

Recent oil price improvements have provided a solid platform for the company to perform well in 3Q20 and further into the year, according to Vitaly Dokunikhin, CEO of ERIELL Russia.

The acquisition of Noble Energy provides Chevron with offshore assets in Israel and enhances Chevron’s US unconventional position with acreage in the DJ Basin and 92 000 largely contiguous and adjacent acres in the Permian Basin.

Oman's Ministry of Oil and Gas has approved the field development plan for the Yumna field and awarded Declaration of Commerciality (DOC).

The Luda 21-2/16-3 regional development is expected to reach its peak production of approximately 25 600 bpd in 2022.

Providence Resources is working with SpotOn Energy and members of a consortium to finalise the farm out work programme for Exploration Licence SEL1/11, which includes the Barryroe oil and gas field offshore Ireland.

Oil prices fell today as the Covid-19 pandemic continues to expand, threatening the future of oil demand, in a market that is slowly trying to recover production levels.

The projects will commence in 3Q20 and are expected to be completed by 1Q21.