Rahul Dhir was on July 1, 2020 appointed as Chief Executive Officer of Tullow Oil, taking over from Dorothy Thompson . Before his appointment, he was CEO OF Delonex Energy, an African focused Oil and Gas Company.
The change compared with a build of 1.23 million barrels for the week, as estimated by the American Petroleum Institute a day earlier. It also compared with an EIA-estimated draw of 1.8 million barrels for the prior week.
The upstream oil and gas sector stands on the cusp of entering a new investment cycle — one that Rystad Energy has dubbed the ‘deliver in uncertainty’ cycle — where there is set to be an increased focus among players to deliver on sustainability targets while remaining financially robust.
Gas prices have declined amid forecasts of milder weather in mid-December, following a brief cold spell that had driven earlier gains. Utilities have stopped drawing heavily from storage, despite colder-than-usual weather recently boosting consumption. Meanwhile, U.S. gas production clocked in at a robust 101.5 billion cubic feet per day in November, but below last year’s peak of 105.3 bcfd. In contrast, European natural gas futures climbed to €48.7 per megawatt-hour, close to their one-year high, as colder weather is forecast to spread across the continent, increasing heating demand.
In practical energy terms, the Mansuriya field holds an estimated 4.5 trillion standard cubic feet (Tscf) of gas and is expected to produce around 300 million scf per day (Mmscf/d) of gas at its peak, although it will start running at about 100 Mmscf/d within 18 months, a senior energy source who works closely with Iraq’s Oil Ministry told OilPrice.com. That said, the site has a deeper and broader appeal to China, with the Mansuriya field having long been regarded by it, the U.S., Russia and Iran as holding a vital strategic position in the heart of the Middle East.
Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector, is pleased to announce the award of a new contract for one of its small-class vessels in the Gulf Cooperation Council (GCC) Middle East region. The contract spans a total of 18 months, including optional extensions.
Crescent Energy has agreed to acquire assets in Texas’s Eagle Ford shale play from Ridgemar Energy for an upfront consideration of USD 905 million, Crescent announced on Wednesday.
The Jubail CCS hub’s initial phase will see up to 9 million tonnes of CO2 captured and stored each year, with construction completed by the end of 2027. Additional phases are planned in order to further expand the hub’s capacity.
The acquisition from Swiss asset manager Partners Group was announced in tandem with a divestment of 50% of a 2-GW portfolio of solar and battery energy storage systems (BESS) projects in Texas.
ADNOC Gas has awarded Worley Engineering the FEED contract for the new gas processing facilities at the Bab Gas Cap (BGC) project in Abu Dhabi, the companies announced on Wednesday