OPEC Daily Basket Price Stood at $58.98 a Barrel Tuesday, 27 August 2019
Vienna, Austria, 28 August 2019–The price of OPEC basket of fourteen crudes stood at $58.98 a barrel on Tuesday, compared with $59.18 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), …
BP: Sells all Alaskan Assets to Hilcorp for $5.6 Billion
BP today announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage, Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion. The sale will include BP’s entire …
JMMC Reiterated the Critical Value of Commitment to Maintain Market Stability at Times of Uncertainties
The Joint Ministerial Monitoring Committee (JMMC) has reviewed the monthly report prepared by its Joint Technical Committee (JTC) and recent developments in the global oil market, as well as near-term prospects in 2019 and 2020. The Joint Ministerial Monitoring Committee (JMMC) has reviewed the monthly report prepared by its Joint …
Gazprom Neft Enters Taimyr
Gazprom Neft has secured subsoil usage rights for geological prospecting in the west of the Taimyr Peninsula. The twelve blocks, covering a total 5,000 square kilometres, are located in the Dolgano-Nenetsky municipal district in the Krasnoyarsky Krai. Licenses to Zapadno-Taimyrsky blocks 1–12 have been issued for a period of seven years, with Gazprom Neft acquiring them under the “Declarative Principle” …
OPEC Daily Basket Price: Friday, 23 August 2019, Stood at $59.67 a Barrel
Vienna, Austria, 26 August 2019–The price of OPEC basket of fourteen crudes stood at $59.67 a barrel on Friday, compared with $60.50 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), …
Petrofac and SOCAR JV Secures Engineering and Technical Services Contract in Azerbaijan
Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured an Engineering and Technical Services contract to support Total and SOCAR’s Exploration & Production activities in Azerbaijan. The 12-month contract, with option to extend, will support activity in the Absheron natural …
Trump’s Oil Sanctions Leave Russian Exporters $1 Billion Richer
U.S. President Donald Trump’s sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters. Russian oil companies received at least $905 million in additional revenues between November and July. The calculation is based on the difference between the …
OPEC Daily Basket Price: Wednesday, 21 August 2019, Stood at $60.66 a Barrel
Vienna, Austria, 22 August 2019–The price of OPEC basket of fourteen crudes stood at $60.66 a barrel on Wednesday, compared with $59.94 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), …
Glencore, BP Stuck with Tainted Russian Crude
MOSCOW (Reuters) – BP and Glencore are struggling to sell around 600,000 tonnes of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources. Russia’s oil industry was plunged into a crisis in April after about 5 million tonnes of oil for export …
Caspian Sunrise: Signs Export Sales Agreement, Wells being Prepped for Stimulation
The Board of Caspian Sunrise is pleased to provide an operational update at its flagship BNG Contract Area. First export licence sales from MJF We are pleased to confirm that a contract has been signed with an international oil trading group for the first 29,000 barrels of oil to be …