Upstream news
PGS completes 3D survey offshore PNG
The survey has gathered over 6100 km2 of seismic data from the Papuan Basin.
Norway reduces oil output
Norway has announced cuts to oil production between June and December this year.
Oil prices rise in response to events in US and Norway
Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that Norway's decision to cut production could be a good example for other producers outside OPEC+.
Hindustan Oil Exploration makes discovery offshore Mumbai
The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.
IEA: global energy demand to plunge in 2020
The IEA's Global Energy Review projects that energy demand will fall 6% in 2020 – seven times the decline after the 2008 global financial crisis.
Global E&P revenues projected to fall by US$1 trillion in 2020, says Rystad Energy
A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.
Equinor drills dry well near the Oseberg field
Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.
Shell releases 1Q20 results
Shell's 1Q20 net income fell 46% from a year earlier to US$2.9 billion.
Neodrill launches CAN-complete service
CAN-complete will provide clients with a full service EPCI solution for the subsea well tophole and structural foundation.
Rystad Energy warns of US shut-ins of 300 000 bpd during May and June
US oil production of at least 300 000 bpd will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers.