Exploration & Production

Petrogas renews EPSA with Oman for Block 5

14205649857 1f9dd5a5d3 zInternational law firm CMS has advised Mazoon Petrogas SAOC (Petrogas), with the renewal of its exploration and production sharing agreement (EPSA) for the onshore Block 5 license in north-western Oman

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Rystad Energy report shows oil demand growth at a decade low

8026229759 4a776c96e0 zConsultancy firm Rystad Energy said the outlook for short-term oil demand remains weak over global economic uncertainty and a fierce trade war between the US and China

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Survey reveals US$70 per bbl oil price in sight after OPEC deal

45165978431 1b313d4463 zThe extension to March 2020 of an oil production cut deal by OPEC to remove of 1.2 mmbbl per day from the market will push Brent crude prices to US$70 per bbl, according to 66 per cent of those polled in GIQ’s monthly Energy Market Survey in July

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‘Offshore project sanctioning in 2019 stands at US$56bn’

48071081066 c04aa2c65a zDriven by Saudi Aramco’s announced US$18bn worth of project commitments associated with the Marjan and Berri expansion projects, the overall offshore project sanctioning in 2019 stands at US$56bn and counting, according to energy research and business intelligence company Rystad Energy

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World oil reserves rose 0.4 per cent in 2018: Eni

48385558211 1c75a120ee zIn 2018, oil reserves increased slightly (+ 0.4 per cent), mainly due to growth in the US, according to Eni’s 18th edition of the World Oil, Gas and Renewables Review, the annual statistics report on oil, natural gas and renewable sources

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