US Oil Reserves Surpass Those Of Saudi Arabia & Russia. For the first time in history, the United States now holds more recoverable oil reserves than both Saudi Arabia and Russia, according to a new study conducted by Rystad Energy. [Oilpro]
Halliburton Reappoints Chief Financial Officer. Halliburton Co. says Mark McCollum will resume his role as Executive Vice President and Chief Financial Officer effective immediately. McCollum will continue reporting to Dave Lesar, Chairman and Chief Executive Officer of Halliburton. [Oilpro]
Oil Falls To $49 On Economic Concerns, Ample Supply. Oil fell below $50 a barrel on Tuesday on concerns that a potential slowdown in economic growth could sap demand and persistent signs of abundant supply despite another militant attack on Nigeria’s oil industry. [Reuters]
Chevron Approves Tengiz Expansion Project. Chevron Corp. says its 50% owned affiliate, Tengizchevroil (TCO), will proceed with the development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP), which will increase crude oil production at the Tengiz oil field in Kazakhstan by about 260,000 b/d. [Oilpro]
Noble Sells Part Of Its Stake In Israeli Offshore Gas Field. Noble Energy has sold a 3% working interest in the Tamar field, offshore Israel, to the Harel Group pension fund and Israel Infrastructure Fund (IIF), Israel’s largest private equity fund for infrastructure. [Oilpro, Splash 247]
ExxonMobil To Expand Balder Field. The Norwegian Petroleum Safety Authority has granted ExxonMobil consent to use another subsea well, E-29-AH, tied back to the Balder floating production unit (FPU). The well is around 3,500 m from the FPU. [Oilpro]
By 2035, Global LNG Demand Will Grow By 1.6%. According to a Cedigaz Outlook, despite the high increase in renewable energy, developing countries will still drag fossil fuels consumption, although oil and coal will see a decline By 2035 global demand for Liquified Natural gas (LNG) will grow by 1.6%. [Oilpro, abo.net]
EMGS Terminates Vessel Agreement. Electromagnetic Geoservices ASA (EMGS) Vessel says it has agreed with the owner of the EM Leader, Euro Trans Skips AS, to terminate the vessel’s charter agreement as of June 1, 2016. [Oilpro]
EMAS Sells PV Keez FPSO Shares. EMAS Offshore Production Service (EOPS and Ezra Holdings Ltd (“Ezra”), the holding company of EMAS, have on 1 July 2016 have entered into a share purchase agreement (SPA) for the sale of a combined equity share of 80 % in PV Keez to PetroFirst Infrastructure 2 Ltd. [Oilpro]
Kiliwani North Well Hits 30 MMcf/d. Aminex PLC says gas production from the Kiliwani North-1 well in Tanzania reached 30 MMcf/d with stable pressure recordings at that rate. The company expects the commissioning process to concluded with the testing of the well to determine optimal rates. [Oilpro]
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