Upstream news

Will Scargill, Managing Oil & Gas Analyst at GlobalData, says that BP's transition to an integrated energy company will require "significant movements in the M&A market, if it is to be delivered in the targeted timeframe."

The manifesto is intended to help asset owners and operators in the energy and chemicals industry drive top line revenue growth, at significantly less cost.

The objective of the well was to prove petroleum in reservoir rocks in the Middle Jurassic (Sleipner Formation) and the Upper Triassic (Skagerrak Formation).

At the centre of the cooperation is the combination of three technologies: APT’s wellsite gas processing and interpretation software package Girasol with FIC’s exclusive access to Fluid Inclusion Technologies’ datasets and Rockwash Geodata’s sample washing and digitisation process.

Oil prices rose on Wednesday on expectation for a significant draw in US crude oil stocks last week, but Covid-19 remains a concern.

Rystad has said that Saudi Aramco is seeing great uncertainty in the near term demand outlook for Saudi Arabia's crude.

The company has been contracted by NEO Energy to operate the Victoria well in the southern North Sea.

The inspection was carried out in UK waters, 250 km east of Scotland, using an ROV and the company's remote operations centre in Aberdeen.

Oil prices fell on Tuesday on concerns that a rise in Covid-19 infections globally will halt oil demand, leaving the increasing supply from August unused.

BP has reported a record US$6.7 billion (£5.12 billion) loss in 2Q20.