Equinor ASA on Tuesday announced another oil discovery around the Johan Castberg field on Norway’s side of the Barents Sea, with preliminary estimated recoverable resources of 24 million barrels of oil equivalent.
Iran has warned that oil and gas infrastructure across the Persian Gulf could become “legitimate targets” following a strike on its giant South Pars gas field, escalating concerns over regional supply disruptions and global energy market volatility.
Baker Hughes has secured a 60-month services agreement with Petrobras to support critical turbomachinery across Brazil’s offshore production system and refining operations.
Eni has taken final investment decisions (FIDs) on two major deepwater gas hub developments offshore East Kalimantan, advancing projects expected to deliver up to 2 Bcf/d of gas and 90,000 bpd of condensate at plateau.
GNPC Explorco, the upstream exploration arm of the Ghana National Petroleum Corporation (GNPC), has successfully completed an aerial geophysical survey across key districts under its Voltaian Basin project.
Oil and gas prices rose again on Tuesday after Iran carried out attacks on production facilities for the first time since the start of the war with the US and Israel.
Chinese state oil giants are back scouring the market for Russian crude, four months after halting purchases due to the U.S. sanctions on Rosneft and Lukoil, as China aims to offset losses of supply stuck in the Strait of Hormuz.
Japan’s petroleum refiner Idemitsu Kosan has committed $500 million to LNG investment company MidOcean Energy as part of MidOcean’s equity raise of $1.2 billion, as the Japanese refining giant is looking to enter the global LNG business on a full-scale basis.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 6.556 million barrels in the week ending March 13—a surprise build of significant magnitude. In the week prior, US crude oil inventories shed 1.7 million barrels. Analysts had expected a draw of 600,000 barrels in the current reporting period.
The U.S. Department of the Interior has initiated a fast-tracked environmental review of a proposed offshore well stimulation program at Platform Gilda, located about 8.8 miles offshore Ventura County, California.