Equinor has extended a series of drilling and well services agreements valued at approximately NOK 17 billion ($1.6 billion) to sustain production and activity on the Norwegian Continental Shelf.
Oil prices jumped as critical energy infrastructure and tankers in the Middle East came under attack, marking a significant escalation in the US-Iran hostilities and jeopardizing a four-week-old ceasefire.
Traffic through the Strait of Hormuz remained largely frozen amid increasing tensions, as Iran attacked ships and the US started a plan to guide vessels out of the vital waterway.
The US and Iran exchanged fire in a flareup of violence on Monday that also drew in the United Arab Emirates, prompting calls for renewed strikes on Iranian targets and casting doubt on the fate of a four-week ceasefire.
Iran attacked the United Arab Emirates for the first time in almost a month on Monday, as tensions between the U.S. and Islamic Republic rose.
The Ministry of Petroleum of South Sudan has declined to renew the exploration and production sharing agreement (EPSA) held by Oranto Petroleum for Block B3, following a review of the company’s performance over the contract period.
Angola’s oilfield services market is becoming more complex, with simultaneous growth in offshore exploration and onshore activity requiring distinct operational models, pricing strategies and technologies.
The April edition of the IEA’s Oil Market Report is exceptionally provided free of charge in an abridged format.
The United Arab Emirates has announced its decision to quit OPEC and OPEC+ to focus on “national interests”, dealing a heavy blow to the oil-exporting groups at a time when the US-Israel war on Iran has caused a historic energy shock and rattled the global economy.
Ghana’s crude oil production has extended its downward trajectory for a sixth consecutive year, underscoring deepening structural and operational challenges within the country’s upstream petroleum sector.