It’s been a relatively calm week for oil prices despite plenty of developments on both the geopolitical and fundamental front, but prices might just begin to climb next week.
A recent report in Bloomberg has collected and analyzed five years of satellite images monitoring the South China Sea off Malaysia to detail something which should come as no surprise: Iran and China’s sanction-busting activity regarding Iranian oil exports has been going strong.
Italian oil and gas major, Eni and Ivorian Ministry of Mines, Oil and Energy have signed contracts for the acquisition of four(4) new exploration blocks in the country’s offshore.
The contracts, which were signed in Abidjan further consolidates Eni’s presence in the West African nation.
Tullow Oil disclosed this in its Trading Update, released on November 29, 2024, to investors.
The court is going ahead with the ruling after hearing arguments from both sides on the issues.
Production on the Jubilee Oil Field slowed marginally to 89, 000 barrels per day (bpd) at the end of October 2024. This was captured in the November 2024 Trading Update released by Tullow Oil today, November 28, 2024. Daily Crude Production on the Jubilee field was above 90,000 barrels a day at the end July […]
Implementing GST is being considered as a solution to the high rates of petrol and diesel in the country, as it would eliminate the cascading effect of taxes—where state VAT is applied to both the cost of production and the central excise duty charged on that output.
Mexican state oil company Petroleos Mexicanos is putting a freeze on new contracts with service providers as the company works to pay off the roughly $20 billion it owes suppliers.
Western governments crafted another way to benefit from soaring oil and gas company profitability–taxing share buybacks, such as has been done in the U.S. and Canada. Dividends could also be taxed more heavily. Both methods, suggests Wood Mackenzie, would actually “incentivize reinvestment, thus promoting jobs and additional energy supply”.
Trinidad’s annual gas output has been on a tailspin for years now, dropping from 1.479 tcf in 2012, to 0.988 tcf in 2022 in large part due to declining gas reserves in mature gas fields, overshadowing discoveries in neighboring countries and unappealing fiscal terms. But its Latin American peers are doing no better.
Leading the rally was Adani Total Gas, which surged 15.7%, Adani Energy Solutions and Adani Green Energy zoomed 10%, Adani Power jumped 7.0%, and Adani Enterprises climbed 1.7%per cent on the BSE. The shares were traded on heavy volume, with Adani Energy Solutions and Adani Green Energy hitting their highest trading permissible limit for the day.