Upstream news
Lundin Petroleum makes oil and gas discoveries in Norwegian North Sea
The discoveries were made at the Evra and Iving exploration well, close to the Balder and Ringhorne field.
Production at Gharraf oilfield halted
Petronas, the operator of Gharraf, has evacuated its staff from the Iraqi oilfield.
Hess downsizes 2020 capital and exploratory budget
The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six rig programme to one rig in the Bakken, which is expected to be completed by the end of May.
Capricorn Norge receives drilling permit
The Norwegian Petroleum Directorate has granted the company a permit for well 35/8-7S in production licence 880.
Pioneer Natural Resources to reduce 2020 capital spending
The company has reduced its drilling, completion and facilities capital budget by approximately 45%.
Jersey Oil & Gas to lead Greater Buchan Area evaluation
The wider Greater Buchan Area in the UK North Sea contains discovered oil and gas resources in excess of 200 million boe.
ExxonMobil aiming to "significantly" reduce spending
The company is aiming to reduce spending as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.
Neptune Energy confirms discovery in UK Central North Sea
Hydrocarbons were encountered at the Isabella exploration well, with 64 m net pay encountered, consisting of lean gas and condensate and high-quality light oil.
Gulf Keystone Petroleum suspends drilling activities at well in Iraqi Kurdistan
Drilling activities at the SH-13 well have been suspended due to Covid-19.
Saudi Aramco announces 2019 results
Net income in 2019 was US$88.2 billion 2019, compared to US$111.1 billion in 2018.