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The latest upstream oil and gas news from around the world.

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Petrobras Sets 2020 For Start Of First Libra Oil Production System

Thu, 27 Oct 2016 00:00:00 GMT

Petrobras and partners will install the first of four commercial production systems in the giant Libra offshore oil area in 2020, adding one a year through 2023.

Canadian Regulator Cuts 2040 Oil Output Forecast By 400,000 Bpd

Wed, 26 Oct 2016 00:00:00 GMT

Canada's National Energy Board downgrades its long-term crude oil supply forecast.

Bolivia, Repsol to Sign Deal to Develop Two Natural Gas Fields

Wed, 26 Oct 2016 00:00:00 GMT

The Bolivian government and a consortium led by Spain's Repsol are to sign a potential $1-billion deal to develop two natural gas fields.

Russia's Gazprom to Consider Annulling Nord Stream-2 Shareholder Agreement

Wed, 26 Oct 2016 00:00:00 GMT

The Gazprom board will convene on November 9 to consider cancelling a shareholder agreement concerning the construction of the Nord Stream-2 undersea gas pipeline to Germany.

Sources: BP Sells US Crude Oil to Thailand, Australia for First Time

Wed, 26 Oct 2016 00:00:00 GMT

BP plans to ship one million barrels of US crude oil to Thailand and Australia for the first time, according to sources.

Iraqi Leaders Lobby OPEC's Barkindo For An Oil Output Cut Exemption

Tue, 25 Oct 2016 00:00:00 GMT

Iraq tells top OPEC official it is ready to cooperate in reaching a deal on supply cuts to support oil prices.

Indonesia's Pertamina Targets 42% Increase in 2017 Crude Output

Tue, 25 Oct 2016 00:00:00 GMT

Indonesia state oil firm Pertamina targets a 42-percent increase in crude oil production and a 17-percent increase in gas production in 2017, amid continued overseas expansion.

Statoil Says Restarts Output At Statfjord A Platform After Fire

Mon, 24 Oct 2016 00:00:00 GMT

Production at Statoil's Statfjord A oil platform in the North Sea has restarted after it was shut due to a fire on Oct. 16, the company said on Monday.

Foreign Firms To Increase Spending On Iraqi Oil Fields In Basra

Mon, 24 Oct 2016 00:00:00 GMT

Foreign oil companies will increase their investments to increase output in Basra, the main producing region of Iraq.

Angola Becomes China's Biggest Oil Supplier in Sept

Mon, 24 Oct 2016 00:00:00 GMT

Angola unseats Russia as China's largest crude supplier.

Islamic State Attacks Kirkuk, Oil Production Not Affected

Fri, 21 Oct 2016 00:00:00 GMT

Islamic State militants attack several buildings in the northern Iraqi oil city of Kirkuk on Friday before dawn.

Asia's Oil Markets Are Tightening As China Cuts Output, Fuel Stocks Dwindle

Fri, 21 Oct 2016 00:00:00 GMT

From sharp cuts to Chinese oil production to falling inventories of refined fuel products, signs are mounting that Asia's oil markets are slowly returning to balance.

Indonesia Considers Inpex Request To Boost Masela LNG Output Again

Fri, 21 Oct 2016 00:00:00 GMT

Indonesia expects to decide within "one or two weeks" on a plan by Inpex Corp to increase proposed output from the Masela natural gas field to nearly four times the level originally slated.

Mangala Field Hits 300 Million Barrels of Cumulative Production

Thu, 20 Oct 2016 00:00:00 GMT

Cairn India Limited announced Thursday that the Mangala oil field in Rajasthan has achieved 300 million barrels of cumulative production.

Gabon Oil Workers Strike Cuts Output From Onal Field

Thu, 20 Oct 2016 00:00:00 GMT

A strike in Gabon by oil workers at French company Maurel and Prom has cut production from the Onal field to 10,000 barrels per day from 28,000 bpd normally.

Rosneft's Sechin Says Russia Has Potential To Raise Oil Output

Thu, 20 Oct 2016 00:00:00 GMT

Russia has the potential to further increase oil output in the future by up to 200 million tons a year, or 4 million barrels per day, Rosneft's chief executive Igor Sechin says.

Wheatstone LNG Development Start-Up in Mid-2017 Says Woodside CEO

Thu, 20 Oct 2016 00:00:00 GMT

The Wheatstone LNG development is ready to start-up in mid-2017, according to Woodside Petroleum Ltd CEO Peter Coleman.

Indonesia Sees 63 Uncommitted LNG Cargoes In 2017

Thu, 20 Oct 2016 00:00:00 GMT

There are currently 63 uncommitted cargoes of liquefied natural gas (LNG) for 2017 delivery from Indonesia's Tangguh and Bontang projects.

DUCs Could Boost US Production by 250K Barrels Per Day

Wed, 19 Oct 2016 00:00:00 GMT

Steady oil and gas prices may spur operators into completing wells left idle during the downturn.

Quadrant Flows Gas, Condensate from Roc-2 Offshore Australia

Wed, 19 Oct 2016 00:00:00 GMT

Quadrant Energy announces that the Roc-2 well, located offshore Australia, has flowed gas and condensate during testing.