With crude rebounding, oil optimists look like they’re finally ready to take the driver’s seat. For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. The Sentiment is now the most...

An oil and gas reservoir has been discovered by Aker BP while the company was drilling near the Alvheim field in the North Sea as confirmed by the Norwegian firm last Monday. Known as Froskelaar (Frog’s Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents and...

Total and its partners which include China’s CNOOC has discovered a new gas source off the coast of Britain at the North Sea Glengorm prospect. It had recoverable resources which are estimated at 250 million barrels of oil equivalent (boe). According to Total, with further drilling and testing to be carried out, this could assess...

Faroe Petroleum, an oil and gas explorer and producer which focuses on Norway and the UK has entered into a partnership with subsidiaries of Royal Dutch Shell and Spirit Energy on exploring the Edinburgh area while it is being developed. Faroe would hand over the operation to Shell once the drilling decision is taken. All...

Pricing of long liquefied natural gas (LNG) contracts is facing an unpredictable moment due to the fluctuating oil price. With the rising supply and expansion of exports from Qatar, Australia and recently the US, the contractual terms are evolving with the diversification of LNG supplies. This gives buyers greater bargaining power when it comes to negotiating...

Exxon Mobil Corp. has made a final investment decision (FID) to develop the West Barracouta gas field in the Bass Strait offshore Australia. ExxonMobile has stated that the project located offshore the state of Victoria in VIC/l1 will help to bring new gas supplies to Australia’s domestic market. This is also a part of the...

The new Energy Transition Outlook report by industry body oil & gas UK argues that to maximise North Sea production by 2035, ensuring the security of supply during this transition period. It is mentioned that the political, economic, technological and social drivers that influence the UK energy mix and provides a roadmap showing how existing...

The OSHA or the Occupational Safety and Health Administration of the United States has formulated several laws and regulations for ensuring a safe and healthy environment for workers. As per the OSHA Act, the responsibility for doing so lies with employers setting and implementing standards, providing training, outreach, education and assistance. There are pre-set OSHA...

OPEC had trimmed its forecast that the global oil demand growth in 2019. With the risk of economic outlook going down plus new challenge in efforts to keep up the support for the market next year. The world would require 32.05 million bpd (barrel per day) from its 15 members in 2019 , said OPEC....

Royal Dutch Shell Plc is feeling optimistic that fossil fuel is the answer to Nigeria’s decades of crude theft, pollution and oil-related corruption matters. Shell, the oil major, is planning to develop the domestic energy market with natural gas in Nigeria. Natural gas is abundant, difficult to steal, better for the environment and could potentially...