Oil and Gas

BPCL strengthens energy security with a U.S. oil supply agreement with BP

Isbel Lazaro, March 21, 2024.
Equinor has chosen Optime Subsea to supply two Remotely Operated Control Systems (ROCS) for the Irpa field development project. This agreement comes just three months after Equinor ordered a ROCS system for its Rosebank field, located west of Shetland, UK.

Joshua Falcon, March 20, 2024.
In the midst of the Nowruz holiday season in Iran, there is a challenge in the face of high demand for gasoline in the country. All this because consumption exceeds local production capacity. With the imminent arrival of the holidays, a significant increase in fuel demand is expected in a country where celebrations usually involve extensive travel by the population.

Joshua Falcon, March 20, 2024.
A new discovery in a key oil field has been revealed in the waters of the Bohai Sea, offshore China, by CNOOC Limited, the Chinese oil and gas giant. This leading company has drilled and completed the QHD27-3-3 well to a depth of 1,570 meters, discovering 48.9 meters of productive oil zones.

Joshua Falcon, March 20, 2024.
The Olfar group, a leading Brazilian biodiesel producer, has successfully exported its first batch of soy methyl ester (SME) biodiesel. This shipment was destined for the port of Kao-hsiung in Taiwan, departing from the port of Itapoa, located in the Brazilian state of Santa Catarina.

Isbel Lazaro, March 19, 2024.
The Norwegian Petroleum Directorate has reported that Harbour Energy, in collaboration with its partners Sval and Aker BP, has made a significant gas discovery at well 15/9-25, located in the North Sea. This discovery adds to the results obtained from two previous exploration wells.

Isbel Lazaro, March 18, 2024.
On March 15, it was announced that Dolphin Drilling, an offshore drilling contractor, has been awarded a drilling contract valued at $154 million with Oil India. This is intended for use with the Blackford Dolphin platform.

Isbel Lazaro, March 16, 2024.
China National Offshore Oil Corporation (CNOOC) revealed last week that the South Kaiping field hosts estimated reserves of 745 million barrels of oil equivalent. This large deposit, called Kaiping Nan, is located in the Pearl River delta basin.

Joshua Falcon, March 15, 2024.
The recession in the construction sector, which has hurt the fate of China’s oil, has had a direct impact on the country’s independent refineries, leading them to lower their diesel production levels.