European natural gas futures rebounded to over €41.5 per megawatt-hour on Tuesday, up from the over one-month low of €39.5 they touched on Monday as markets continue assessing the outlook of gas supply to Europe and the Ukraine gas transit deal comes to an end.
Russian crude oil exports by sea have dropped by 11% from a recent high in October, due to maintenance at the Baltic port of Primorsk, pressure for Russia to align with its OPEC+ quota, and increased sanctions pressure.
Brazilian player Constellation Oil Services has won a USD 528-million contract for offshore drilling from Petrobras, the company announced on Tuesday.
Vitesse Energy will grow its Bakken asset base with the acquisition of Canada’s Lucero Energy Corp. for USD 222 million, the US company said on Tuesday.
Equinor’s exploration well 31/1-4 in the North Sea has yielded an oil and gas discovery estimated at between 2 million-12 million boe, Equinor announced on Tuesday.
ADNOC Drilling Company has announced the closing of the Turnwell Industries joint venture (JV) between ADNOC Drilling, SLB and Patterson-UTI.
Petro-Victory Energy Corp. has announced the signature of an exclusivity agreement with Brava Energia S.A. for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte, Potiguar Basin.
After extensive reviews of public comments and stakeholder input, the Railroad Commission of Texas has adopted a significant overhaul of rules regulating oil and gas waste management facilities in Texas. RRC Commissioners voted to adopt the new regulations at their open meeting today.
Central Asia’s largest producer said in August that it was targeting 97.2 million metric tons of oil production in 2025. Since that figure was announced, there has been a major shift in OPEC+ production policy that will see members’ output curtailed for much longer than expected
According to the Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released recently, the U.S. will produce an average of 13.53 million barrels per day of crude oil, including lease condensate, in the fourth quarter of 2024.