OPEC may extend yet

Saudi Arabia has been working tirelessly behind the scenes and appears to be gaining good momentum with the major actors of OPEC + 1 (i.e. Russia) for extending the OPEC output agreement beyond April 2018. Saudi Arabia and its new ally, Russia, are keenly in favour of maintaining the cuts until June 2018 and several other producers have recently signaled their support for an extension as well. Iran: Initially one of the tougher partners at the...

Read More

Senegal moves ahead

Cairn Energy, the operator of the SNE field in Senegal, released a resource update on 22nd August as part of its half-year announcement. The updated 2C resource base is 563mmbbl gross (vs. 473mmbbl in May 2016) and now brings it in line with Woodside's estimate of 560mmbbl, but is still far below that of partner FAR which carries 641mmbbl (assessed by RISC). The differing resource estimates is nothing new and we constantly see the other partners...

Read More