Anadolu Agency

home > Oil > Upstream

More Upstream News

Indian consortium to explore Abu Dhabi Onshore Block 1

- ADNOC awards oil, gas exploration rights in large block near Ruwais refining, petrochem hub to Indian Oil & Bharat Petroleum

26.03.2019 Upstream , Upstream , Companies , Middle East-Africa , General

US oil stocks fall, production up for w/e March 15

- Crude production increases by 100 thousand barrels while inventories fall by 9.6 million barrels

22.03.2019 Oil , Finance , Upstream , Downstream , Americas , General

Eni announces oil and gas discovery in North Sea

- Preliminary estimates place size of discovery as 63-132 thousand barrels of recoverable oil equivalent in license 869

20.03.2019 Upstream , World , General

Japan's Inpex wins Abu Dhabi onshore exploration bid

- ADNOC awards Inpex Corporation oil and gas exploration rights for Abu Dhabi Onshore Block 4 in UAE

18.03.2019 Upstream , Upstream , Companies , Middle East-Africa , General

US oil stocks, production fall for week ending March 8

- Crude inventories down by 3.9 million barrels, against market estimate increase of 2.6 million barrels

14.03.2019 Upstream , Refining/Petro Chemistry , Americas

Oil prices up with fall in US crude stocks, production

- Decline in inventories and output alleviates some investors' worries over rising, global oversupply

15.03.2019 Upstream , Stock Market , Americas

US energy admin. increases Brent oil forecast for 2019

- Brent price is expected to average $63 per barrel this year, up $2 a barrel from previous month's estimate

13.03.2019 Upstream , International Organization , Americas

Oil prices up as Iran, Venezuela production due to fall

- Two countries are expected to account for a total of 1.76 million barrels per day in lost production

13.03.2019 Upstream , Stock Market , International Organization , Americas , Middle East-Africa

Norway's wealth fund seeks to divest oil, gas holdings

- Goal is to reduce vulnerability to permanent oil price decline, says finance minister

10.03.2019 Upstream , Upstream , Investments , Europe , General

Global oil rig count rises in February: Baker Hughes

-Total number of oil rigs worldwide rises 1.5 percent to 2,306 in February 2019 from same period last year

09.03.2019 Upstream , Americas

Oil down with weak Eurozone estimates, Chinese exports

- Chinese exports fall in February, signaling future weaker oil demand

08.03.2019 Upstream , Investments , Europe , Asia

Rise in oil prices limited by surge in US crude stocks

- Crude stocks in US soar by 7.1 million barrels compared to market expectation of 1.2 million barrel increase

07.03.2019 Upstream , Stock Market , Americas

Oman’s gas production to surpass oil by 2023: Rystad

- Country's gas share in its oil-gas mix is estimated to be over 50 percent in 2025, from around 35 percent in 2015

07.03.2019 Lng/Lpg , Upstream , Middle East-Africa

ExxonMobil, Chevron to ramp up Permian output in 5 yrs.

- Companies plan to increase output in oil-rich basin by around 1 million barrels a day each

07.03.2019 Upstream , Investments , Americas

Oil prices down as US majors plan to raise production

- US crude oil output stands at record high level of 12.1 million barrels a day

06.03.2019 Upstream , Americas

Aker Energy finds oil offshore Ghana

- Company says it will continue drilling to verify estimated volume of resources

05.03.2019 Upstream , Middle East-Africa

Oil prices down as China lowers growth forecast

- China lowers growth expectation for 2019 to between 6-6.5 percent from previous estimate of 6.5 percent

06.03.2019 Upstream , Investments , International Relations , Asia

US shale output to grow 15% in 2019 with 5% lower capex

- Shale operators aim to prioritize cost discipline over aggressive growth, Rystad Energy partner says

05.03.2019 Upstream , Investments , Americas

Chesapeake's net income rises in 4th qtr, falls in 2018

- Net income soars 54 percent in final quarter of 2018, but declines 8 percent for full year

01.03.2019 Upstream , Investments , Americas

Saudi min. replies to Trump, says OPEC 'taking it easy'

- Energy minister Khalid Al-Falih says OPEC is 'taking a very slow and measured approach'

28.02.2019 Upstream , International Relations , Americas , Middle East-Africa

Oil prices retreat after factory output falls in Japan

- World's third largest economy posts biggest decline in factory output in a year

28.02.2019 Upstream , Asia , Americas

US shale ind. acts as "market without a brain": BP head

- "US is the only country that completely responds to market signals, like a market without a brain," Dudley says

28.02.2019 Upstream , International Organization , Americas

ExxonMobil replaces 313% of oil & gas reserves in 2018

- Company adds 4.5 billion barrels to its reserves

28.02.2019 Upstream , Americas

Oil giants amass $1.6 trillion in total revenue in 2018

- Oil giants record massive 73.7 percent increase in collective year-on-year net income in 2018

28.02.2019 Upstream , Stock Market , Europe , Americas

UAE’s ADNOC to explore oil, gas opportunities in Korea

- Company signs three framework agreements with Korean energy companies

28.02.2019 Downstream , Lng/Lpg , Upstream , Downstream , Companies , Asia

UK's RockRose to buy Marathon Oil ops. in North Sea

- Deal will add 13,000 barrels of daily oil equivalent production in 2019 and represents Marathon Oil's exit from UK

27.02.2019 Upstream , Projects , Europe

Fitch places Venezuela's CITGO on negative rating watch

- Agency warns negative rating action could be taken if CITGO fails to replace lost PDVSA oil volumes

27.02.2019 Upstream , Investments , Americas

Petrobas' oil, gas output sees 3 pct monthly drop in Jan

- Brazilian oil and gas major produced 2.61 million barrels of oil equivalent per day last month

26.02.2019 Upstream , Upstream , Companies , Americas , General

Oil prices down with Trump's OPEC criticism

- Crude prices lose 3.3 percent after Trump tweets 'oil prices getting too high'

26.02.2019 Upstream , International Relations , Americas

US fracking declines 25 percent in second half of 2018

- November and December fracking activity is negative year-over-year, research firm says

26.02.2019 Upstream , Americas

Exxon to use Microsoft cloud tech. for oil production

- Cloud technology will cover oil industry's largest acreage in U.S.' oil-rich Permian Basin

25.02.2019 Upstream , Energy Projects , Americas

New oil, gas projects to triple in 2019: Rystad Energy

- Total volumes could be more than 46 billion barrels of oil equivalent this year, research firm says

26.02.2019 Upstream , Upstream , Investments

US crude oil output hits new record high w/e Feb. 15

- World's biggest crude producer sees output reaching 12 million barrels a day

23.02.2019 Upstream , Americas

Petrobras starts output at 3rd platform in Santos Basin

-Located in Buzios field, P-76 has capacity to process up to 150,000 barrels of oil and up to 6 million cubic meters of gas per day

21.02.2019 Upstream , Upstream , Companies , Americas , General

Oil prices up as indecisive Fed pushes dollar lower

- The word "patient" was used 12 times in Fed minutes, as members look divided on rate hike decision

22.02.2019 Finance , Upstream , Americas

US expects largest oil output increase in Permian Basin

- Energy Information Administration releases its Drilling Productivity Report for March

21.02.2019 Upstream , Upstream , Americas , General

Number of oil rigs in US rises by 3 to 857

- Despite the rise in oil rig count, crude prices gain more than 2 percent

17.02.2019 Upstream , Americas

US oil producer Apache cuts budget expenditure for 2019

- Company lowers capital budget for this year to $2.4 billion, from previous plan of $3 billion

09.02.2019 Upstream , Investments , Americas

ExxonMobil makes two new discoveries offshore Guyana

- New discoveries add to previously announced recoverable resources of more than 5 billion oil equivalent barrels

08.02.2019 Upstream , Americas

Total discovers gas condensate offshore South Africa

- Total makes significant discovery and opens new petroleum play offshore South Africa, company announces

07.02.2019 Upstream , Middle East-Africa , General

Oil down with rising US stocks and record high output

- US' crude production remains at record high level of 11.9 million barrels per day

07.02.2019 Upstream , Americas

Global deepwater output to reach record high this year

- Deepwater production around the world is estimated to surpass 10 million barrels per day in 2019, Rystad Energy report says

05.02.2019 Upstream , Upstream , World , General

Chevron revenue, earnings increase in 4Q18

- Earnings jump 19 percent and revenue rises 11 percent

05.02.2019 Upstream , Investments , Americas

US-based Occidental to explore oil, gas in Abu Dhabi

- ADNOC awards company permit to explore Onshore Block 3 in UAE’s Al Dhafra region

04.02.2019 Upstream , Upstream , Companies , Middle East-Africa

Petrobras starts production in Brazil's Lula field

- Country's largest producing field is expected to achieve a daily production of 1 million barrels of oil in 2019

04.02.2019 Upstream , Upstream , Companies , Americas

ConocoPhillips sees net income, revenue rise in 4Q18

- Revenue and net income increase by more than 18 percent in final quarter of 2018

01.02.2019 Upstream , Investments , Americas

Hess posts capex rise, net loss reduction in 4th qtr.

- Company's portfolio is forecast to have break-even Brent price of less than $40 per barrel by 2025, CEO says

01.02.2019 Upstream , Investments , Americas

Oil gains as US Federal Reserve suspends rate hikes

- Central bank removes "further gradual increases" text from its latest statement

31.01.2019 Upstream , Stock Market , Americas

BP invests $5M in US firm for artificial intelligence

- The technology will apply machine learning and cognitive computing in BP's oil and gas businesses

30.01.2019 Upstream , Investments , Europe , Americas

Oil prices up as US sanctions Venezuelan oil firm

- Sanctions to significantly diminish Venezuela's oil exports

29.01.2019 Upstream , Oil , International Relations , Americas

Oil prices down with rising rig count at start of week

- Number of oil rigs in US rises for first time this year

29.01.2019 Upstream , Americas

Iran discovers oil in SW Abadan region: Minister

- Oil found at depth of 3,770 meters is ‘very light and sweet’, Oil Minister Zangeneh tells local media

25.01.2019 Upstream , Energy Diplomacy , Middle East-Africa

Eni’s Var Energi awarded 13 oil, gas licenses in Norway

- Company gets 4 operatorships, 9 partnerships in licenses covering three main oil, gas provinces on Norwegian Continental Shelf

21.01.2019 Upstream , Upstream , Companies , Europe

Global oil supply falls in December '18

- OPEC crude oil production decreased by 751 thousand barrel per day to average 31.58 million barrel per day, data shows

18.01.2019 Oil , Finance , Upstream , Americas , Middle East-Africa , General

Iraq’s oil production doubles in decade: EIA

- Crude oil production in Iraq rose 113 percent between 2007 and 2017

15.01.2019 Upstream , Middle East-Africa

US oil rig count shows decrease this week

- Number of oil rigs falls by four

14.01.2019 Upstream , Americas

Aker energy strikes oil offshore Ghana

- Resources estimated to hold up to 1 billion barrels of oil equivalent

11.01.2019 Upstream , Middle East-Africa

Oil prices down with US output remaining at record high

- Prices retreat after gaining 4 percent in previous trading session

10.01.2019 Upstream , Americas

Morgan Stanley lowers oil price forecast for 2019

- Brent is estimated to average $61 per barrel this year; down from previous forecast of $69 a barrel

10.01.2019 Upstream , Stock Market , Americas

BP approves Atlantis field expansion in Gulf of Mexico

- Energy giant expects to grow net Gulf production to around 400,000 barrels of oil equivalent per day over next decade

10.01.2019 Upstream , Companies , Americas

Oil prices up with OPEC cuts, US-China trade talks

- Crude prices rise by around 1 percent with US-China trade talks and OPEC lowering oil production

10.01.2019 Upstream , International Organization , Asia , Americas

Oil prices down despite Saudi export cuts

- Saudi Arabia to lower crude exports to around 7.1 million barrels per day this month from 7.3 million in December

09.01.2019 Upstream , International Relations , Middle East-Africa

Goldman Sachs lowers oil price forecast for 2019

- Brent crude is expected to average $62.50 per barrel, down from previous estimate of $70 a barrel

08.01.2019 Upstream , Stock Market , Americas

Oil price rises with US, China trade hopes

- US and China begin talks in Beijing to resolve trade disputes

07.01.2019 Upstream , International Relations , Asia , Americas

Eni to buy 70 pct of Oooguruk oil field in Alaska

- Acquisition to provide 7,000 barrels of oil per day and operational synergies with nearby Nikaitchuq field, company says

05.01.2019 Upstream , Companies , Americas

Oil prices post first annual drop last year since 2015

-Brent ended year at $54 and WTI at $45, equivalent to $13 and $15 lower respectively than start of year -- a 1st since 2015

04.01.2019 Upstream , Stock Market , International Organization , Americas

Oil price to be low if OPEC cuts fail in 2019: JPMorgan

- Brent could fall to $55 a barrel in low-price scenario, says head of Asia Pacific oil and gas at JP Morgan

04.01.2019 Upstream , Stock Market , International Organization , Americas

Total starts production at Nigeria's Egina field

- Egina will produce 200,000 barrels of oil per day, which represents about 10 percent of Nigeria’s production, Total says

02.01.2019 Upstream , Companies , Middle East-Africa

Oil begins 2019 with losses amid oversupply, weak data

- Purchasing managers’ index in Taiwan, China shows contraction

03.01.2019 Upstream , Projects , Asia , Americas

Brent oil trades around $53 for week beginning Dec. 31

- Experts believe that market players are still concerned over global trade wars, especially between China and the US

01.01.2019 Oil , Finance , Upstream , Energy Diplomacy , General

ANALYSIS - Rising US shale could force OPEC to cut more

- US shale could rapidly fill supply void in market forcing OPEC+ to make another output cut in the first half of 2019

01.01.2019 Upstream , International Organization , Americas , Middle East-Africa

Brent oil trades around $53 for week ending Dec. 28

- Global trade wars and supply glut still keep downward pressures on oil prices

29.12.2018 Oil , Finance , Upstream , Americas , Middle East-Africa , General

Shell completes sale of New Zealand entities

- Entities sold to OMV include Maui, Pohokura, Tank Farm assets, its interest in and operatorship of Great South Basin venture

29.12.2018 Upstream , Upstream , Companies , Asia

Guyana drilling unaffected despite incident: ExxonMobil

- Offshore drilling continues in Guyana after Venezuelan navy intercepted a seismic vessel last week

28.12.2018 Upstream , International Relations , Americas

Oil prices open mixed to rebound from major losses

- Brent crude up 0.2 percent, while WTI is down 1 percent

27.12.2018 Upstream , International Organization , Eurasia , Americas

US' crude inventories decline, output rises slightly

- Crude oil output rises for 39th time in past 49 weeks

20.12.2018 Upstream , Americas

Oil prices decline after Fed decision, market selloff

- US Federal Reserve signals continuance of interest rate increases in 2019

20.12.2018 Upstream , Stock Market , Asia , Americas

Petrofac secures Ithaca build, commissioning deal

- Firm will be responsible for construction, commissioning works on Ithaca's FPF-1 floating prod. facility in UK North Sea

19.12.2018 Upstream , Upstream , Companies , Europe

Oil, gas firms ready for low prices in 2019: WoodMac

- "Portfolios are set to weather low prices," a WoodMackenzie expert says

18.12.2018 Lng/Lpg , Upstream , Investments , Americas

ANALYSIS - OPEC cuts inadequate for oil market, prices

- Deal to curb production failed to boost prices, while forecasts indicate prices to remain low for some time

15.12.2018 Upstream , International Organization , Eurasia , Middle East-Africa

Oil prices gain with easing US-China trade relations

- China makes first soybean purchase from US since July

13.12.2018 Upstream , International Relations , Asia , Americas

Petrofac sells stake in Greater Stella Area development

- British oilfield services provider announces completion of sale of Petrofac GSA Holdings Ltd to Ithaca

13.12.2018 Upstream , Companies , Europe

Oil prices rise with market, trade optimism

- Crude prices gain more than 1 percent on stock market optimism and easing of U.S.-China trade tensions

12.12.2018 Upstream , Stock Market , Europe , Asia

EIA revises down 2019 oil price forecast by $11 a brl.

- Brent is expected to average $61 a barrel next year, down from previous estimate of $72 per barrel

13.12.2018 Upstream , Stock Market , Americas

US oil majors raise oil production outlook for 2019

- ConocoPhillips and Hess forecast production of more oil next year, while keeping their budgets flat

12.12.2018 Upstream , Investments , Americas

Russia to cut oil production gradually: Energy Minister

- Initial oil cut will be at least 50,000 barrels a day, Novak says

12.12.2018 Upstream , International Organization , Eurasia

US investment banks see low oil prices despite OPEC cut

- Citigroup expects Brent to average $60 per barrel in 2019 while Morgan Stanley cuts forecast by $10 a barrel for next year

12.12.2018 Upstream , Stock Market , International Organization , Americas

Eni announces startup of Vandumbu oilfield offshore Angola

- Ramp-up of Vandumbu in Block 15/06 will lead to total production of about 170,000 barrels of oil per day, company says

12.12.2018 Upstream , Companies , Middle East-Africa

Oil prices up as US, China restart trade talks

- World's two biggest economies lay out roadmap for new round of trade talks

11.12.2018 Upstream , International Relations , Asia , Americas

OPEC cut to push Brent to $70 in 3Q19: WoodMackenzie

- “A production cut of 1.2 million bpd would tighten the oil market by the third quarter of 2019," Wood Mackenzie expert says

11.12.2018 Upstream , Stock Market , International Organization , Americas , Middle East-Africa

Brent oil up after OPEC deal to cut production

- Price of Brent crude trades above $62 a barrel at start of week

11.12.2018 Upstream , International Organization , Middle East-Africa

OPEC, allies agree to cut oil output by 1.2M barrels

- Saudi Arabia to carry heaviest burden; Iran, Libya, Venezuela exempt

09.12.2018 Upstream , International Organization , Middle East-Africa

Brent above $60 as market awaits OPEC's decision

- Cartel is still holding talks with non-OPEC producers on how much they can contribute to supply cut deal

07.12.2018 Upstream , International Organization , Middle East-Africa

US meddling unwelcome in OPEC: Iranian official

- Iranian Minister of Petroleum criticizes Trumps's interference in OPEC cartel

08.12.2018 Upstream , International Relations , Americas , Middle East-Africa

Saudi Arabia unsure of reaching OPEC deal on oil cuts

- Group will meet Friday with OPEC+ nations to discuss contribution on curbing supply

07.12.2018 Upstream , International Organization , Middle East-Africa

Iran looks for exemption from OPEC oil cuts: Official

- Petroleum Minister Zangeneh points to US sanctions and criticizes Washington official

06.12.2018 Upstream , International Organization , Americas , Middle East-Africa

Oil prices down as market awaits OPEC decision

- Cartel is estimated to cut oil production by at least 1 million barrels a day

06.12.2018 Upstream , Stock Market , International Organization , Middle East-Africa

OPEC eyes Iran, Venezeula for output cut decision

- With uncertainty surrounding Iran and Venezuela oil outputs, OPEC+ could make modest cuts to prevent revenue loss

06.12.2018 Upstream , International Organization , Middle East-Africa

Oil & stocks fall with US-China trade skepticism

- Indexes in US stock market post losses of over 3 percent

05.12.2018 Upstream , Stock Market , Asia , Americas

Oil gains with weak dollar, US-China trade truce

- Three-month truce imbues investor optimism

04.12.2018 Upstream , Stock Market , International Relations , Americas

Qatar to withdraw from OPEC early 2019

- Energy Minister says decision is a "technical and strategic" change

04.12.2018 Lng/Lpg , Upstream , International Organization , Middle East-Africa

US oil rig count shows increase in week

- Number of oil rigs rises by two, bringing crude prices down

02.12.2018 Upstream , Americas , General

Crude oil, natural gas reserves in US set new records

- Oil reserves rise 19.5 percent, natural gas reserves increase 36.1 percent in 2017, compared to previous year, according to official data

01.12.2018 Upstream , Americas

Oil gains with North Sea shutdown & OPEC cuts prospect

- Buzzard oilfield in North Sea temporarily shuts down cutting off 3 cargoes each with 600,000 oil barrels

30.11.2018 Upstream , International Organization , Europe

Dutch firm signs deal with Aramco for offshore program

- Investments could be more than $3 billion a year, with a program duration of six years

28.11.2018 Upstream , Middle East-Africa , General

Akkuyu nuclear plant tracks progress one year on

EU's production of nuclear heat down 1.3% in 2017

Turkish trade minister to visit Russia on Wednesday

Russia's Novovoronezh NPP II unit 2 reaches final stage

GE begins to digitize thermal, renewable power in India

China's coal output up 5.2 pct in September

Asian Dev. Bank to loan $500M to Bangladesh power plant

China’s coal production up 4 percent in April

US coal exports hit 5-year high in 2018: EIA

Global energy demand hits fastest pace this decade: IEA

Engie sells stake in Thailand's Glow for €2.6 billion

Old coal plants in W. Balkans kill 3,000 people: Report

Total inks interim deal for Oman's onshore gas block 12

BP commits $100M to reduce greenhouse gas emissions

Indian consortium to explore Abu Dhabi Onshore Block 1

Japan's Inpex wins Abu Dhabi onshore exploration bid

‘Ankara to always protect Turkish Cypriots’ rights’

Total, ADNOC to explore gas in Abu Dhabi

Osaka to acquire 35pct stake in US shale gas project

UK announces new measures to back shale gas exploration

US natural gas processing capacity shows rise 2014-2017

Turkey to benefit from many gas supplies & best prices

UAE’s ADNOC to explore oil, gas opportunities in Korea

Equinor natural gas sales increase 29 percent in 2018

Total and partners sign agreement for Papua LNG project

Puerto Rico LNG imports return to pre-hurricane level

Novatek to supply gas to Repsol from Arctic LNG 2

Global LNG trade increases by 8.3% in 2018

Oil prices on rise with Libya tensions & supply cuts

US revises up oil price forecasts for 2019

Oil prices mixed as Brent crude hovers around $71

Brent oil above $70 a barrel with tight global supply

ADNOC inks downstream MoUs with OMV, Borealis

US oil stocks fall, production up for w/e March 15

Vitol to acquire asphalt trading business VALT

US crude exports to catch up with Saudi Arabia by 2024

Saudi Aramco to buy 70 pct stake in petrochem. firm SABIC

ADNOC inks downstream MoUs with OMV, Borealis

Baku, Moscow mull Russian oil to Turkey's STAR refinery

Global oil supply falls in Feb. '19

London drivers face new emission charges

EC says Volkswagen, BMW, Daimler broke antitrust rules

EU sets 37.5% CO2 reduction target for new cars by 2030

US biofuels trade, prod. to remain stable through 2020

Engie, Tokyo Gas to establish renewables JV in Mexico

IEA lauds Sweden's energy policies in latest report

Amazon announces three new wind power projects

EC fines GE €52 million in relation to LM Wind takeover

Engie, Tokyo Gas to establish renewables JV in Mexico

Saudi Arabia to install more solar, wind energy by 2028

France's Engie inaugurates first mini-grid in Zambia

Statkraft, redT partner for solar, energy storage in UK

Norway produces 93.6% electricity from hydro in Feb. 19

Norway produces 94.4% electricity from hydro in Jan. 19

Dam will add $83.5M to Turkish economy: President

Norway produces 94% electricity from hydro in Dec. 2018

Enel buys 650 MW of renewable power plants in US

Engie buys French biomethane producer Vol-V Biomasse

Eni, Indonesia’s Pertamina ink circular economy deal

GE begins to digitize thermal, renewable power in India

Turkey set to invest $11B in energy efficiency

Renewables, electrification can reduce 75% of emissions

Venezuela to pay $8.7B compensation to ConocoPhillips

TurkStream's Kiyikoy receiving terminal 50% completed

Turkey set to invest $11B in energy efficiency

Renewables, electrification can reduce 75% of emissions

Saudi Arkad wins tender to build gas p/line in Bulgaria

UK minister resigns amid Brexit row with government

US revises up oil price forecasts for 2019

US sanctions on Venezuela may worsen crisis: UN

Turkey expects more EU actors in energy exchange market

Oil prices up with fall in US crude stocks, production

Gazprom increases gas production by around 18% in first 8 months of year

Turkish-Russian presidents to launch TurkStream on Wed.

Domestic and renewables add 445 MW in Turkey in 1Q19

Turkish household gas consumption down by 12.3% in 2018

EU urges UK to justify Brexit extension

EU's Tusk offers UK 'flexible extension' for Brexit

Trump says US putting $11B worth of tariffs on EU goods

Turkey set to invest $11B in energy efficiency