The market could be quite tight in the first half of 2019 but oversupplied again by 2020, according to a new industry note from Jefferies, which was sent to Rigzone on Thursday.
Read MoreGlobal Oil & Gas: Market Could be Oversupplied by 2020
Oil & Gas Industry
Global Markets: OPEC’s Unplanned Supply Losses Could Double Its Cut
(Bloomberg) — OPEC may be about to succeed by accident, again.
Read MoreMozambique Oil & Gas: “Financing of natural gas project launched” – Minister
Funding for the Rovuma Area 1 natural gas exploration project in northern Mozambique has been launched at the level of international commercial banks, the Minister of Mineral Resources and Energy announced on Wednesday.
Read MoreAfrica Oil & Gas: Angola remains Africa second largest oil producer in November
Angolan oil output in November was 1.521 million barrels per day (bpd) according to secondary sources, a monthly increase of 3,000 bpd, according to the Organization of Petroleum Exporting Countries (OPEC) monthly report.
Read MoreAfrica Oil & Gas: Nigeria Continues To Depend Heavily On Oil Export Revenue
Despite assurances that Nigeria is working to diversify its economy away from oil, the African OPEC member continues to depend heavily on oil exports, and consequently, on oil prices, for its international trade and export revenues, as the latest data from Nigeria’s National Bureau of Statistics showed on Tuesday.
Read MoreAfrica Oil & Gas: Total To Boost Exploration In Mauritania
France’s supermajor Total said on Wednesday that it had signed an agreement with Mauritania for two new exploration and production contracts in the country’s deep offshore, amid growing interest from oil majors to explore the West African Atlantic basin.
Read MoreGlobal Markets: Oil Prices Steady After EIA Confirms Much Smaller Draw
Crude oil prices remained steady today after the Energy Information Administration confirmed an API estimate of a crude oil inventory draw but a much smaller one than API’s 10.18 million barrels. The authority reported crude oil inventories in the United States had gone down by 1.2 million barrels in the week to December 7, the second weekly draw after a string of weekly increases, after a draw of 7.3 million barrels a week earlier.
Read MoreGlobal Markets: Japan’s spot LNG prices climb in November
The price of spot liquefied natural gas contracted in Japan has continued to climb during the month of November.
Read MoreGlobal Oil & Gas: Biggest Negative Risk for Oil Price
The biggest negative risk for the price of oil after the OPEC+ decision is a larger slowdown in the world economy.
Read MoreAfrica Oil & Gas: Libya declares force majeure
Libya’s National Oil Corp. declared force majeure on crude loadings at its Sharara field because of the presence of a militia, according to S&P Global Platts.
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