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Oil price news

Serica Energy provides operations update

Estimated net production from Serica’s interests in Bruce, Keith, Rhum (“BKR”) and Erskine, in the UK North Sea, was 30 000 boe/d during 2019, around 13% higher than the production from the same assets in 2018 on a like-for-like basis.


Rystad Energy comments on Saudi drone attacks

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million bpd of crude production.


Rystad Energy predicts US shale supply to peak around 2030

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.


Caspian Sunrise receive MJF licence upgrade

The majority of oil produced from the MJF structure in west Kazakhstan may now be sold by reference to international rather than domestic prices.