The Australian government said Wednesday it will include a AUD-10 billion ($7.26 billion) Australian Fuel Security and Resilience package in the federal budget next week.
Equinor ASA has reported $3.7 billion, or $1.48 per share, in net income adjusted for nonrecurring items for the first quarter (Q1), more than double that of the same three-month period last year on higher production and higher oil prices.
WO) – “It doesn’t matter whether it’s today, 10 years ago, 20 years ago … the challenge is the same: to supply the world with energy.”
That was the message from John Ardill, vice president of exploration and new ventures at ExxonMobil, speaking during OTC’s Day 2 technical session, “Exploration in the Demand Decade,” moderated by Nikki Martin, president and CEO of EnerGeo Alliance.
The Trump administration is studying using oil under land at U.S. military bases and other Department of War sites to help refill the nation’s depleted emergency reserves, according to a person familiar with the matter.
Diversified Energy Company and global investment firm The Carlyle Group have agreed to acquire a portfolio of Anadarko basin oil and gas assets from Camino Natural Resources in a transaction valued at approximately $1.175 billion.
Texas Railroad Commissioner Wayne Christian praised new reports highlighting Texas’ growing role in global energy markets as instability in the Middle East continues to pressure oil and gas supplies.
OPEC’s crude production fell to a new 36-year low last month as the Iran war continued to choke off exports from the Persian Gulf and forced further shut-ins, according to a Bloomberg survey.
Equinor has started production from the Eirin field in the North Sea, bringing new gas volumes online for export to Europe through existing infrastructure at Gina Krog and Sleipner A.
Oil fell below $100 a barrel and natural gas slumped after reports that the U.S. and Iran may be nearing a deal that could reopen the Strait of Hormuz and ease one of the biggest supply disruptions in recent memory.
Saudi Arabia has reduced the official selling price of its flagship crude loading for Asia in June from the May record high, but the price cut was less than expected.