International

Neptune Energy confirms hydrocarbon discovery at Dugong well

Neptune Energy and its partners announced the discovery of hydrocarbons at the Dugong well (PL 882) in the Norwegian sector of the North Sea.

Russia Expects OPEC+ To Ease Cuts Next Month

OPEC+ is not discussing or planning changes to its production cut agreement, which should see the oil producers ease the cuts in August, Russia’s Energy Minister Alexander Novak said at an online conference on Thursday.

Odfjell rig heads to South Africa for Total drilling campaign

Odfjell Drilling’s semi-submersible drilling rig Deepsea Stavanger has mobilized from Norway to South Africa for a drilling campaign with Total.

Venezuelas Oil Production Plunges to Lowest Level Since 1945

Oil production in Venezuela, the country with the world’s largest reserves of crude, has fallen to a 75-year low with U.S. sanctions continuing to cripple the country’s exports

Oil Set for Weekly Gain With Economic Optimism Outweighing Virus

Oil slipped Friday but remained on track for a weekly gain as aggressive supply cuts and better-than-expected U.S. economic data overshadowed a surge in coronavirus cases in the world’s largest economy

Saudi Oil Cuts Take Seven Supertankers a Day Off the Market

Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June.

Conoco to Bring Back Curtailed Oil Output in Response to Rally

ConocoPhillips said it will begin restoring curtailed oil production in July as crude prices rebound from their lockdown depths

Shell Warns of Multibillion Writedown as Virus Curbs Oil Demand

Royal Dutch Shell Plc said it will write down between $15 billion and $22 billion in the second quarter, as the company gave investors a wider glimpse of just how severely the coronavirus crisis has hit Big Oil.