Norway produced 122.9 million cubic meters (4.3 billion cubic feet) of oil equivalent in the first half (H1) of 2024, up 6.2 MMcm (219 MMcf) compared to the same period last year as natural gas output kept growing year-on-year in the six months running.
Crude oil prices spiked after Israel assassinated Hamas’s political leader on Iranian soil, leading to threats of retaliation from Tehran.
The ongoing conflict in the Middle East, combined with record US oil demand, has created a bullish environment for oil prices.
Early on Thursday morning, WTI was trading around $78.50 while Brent had climbed above $81.
Noble Corporation’s acquisition of Diamond Offshore consolidates its position as a leading offshore drilling provider, expanding its fleet and unlocking new growth opportunities.
The deal brings $2.1 billion in new backlog and diversifies Noble’s client base, solidifying its financial stability.
Noble’s lack of stacked iron and relatively low debt burden positions it for success in the growing offshore drilling market.
Colombia’s state-owned Ecopetrol sees the country’s offshore gas production coming on line as early as 2029, Bloomberg reported on Tuesday.
Yinson Production Ghana (“Yinson”) and the Ahanta West Educational Directorate have successfully hosted the third annual Yinson Reading and Spelling Bee competition themed, “Learn to Read, Read to Learn.”
Genser Energy, a Ghanaian-owned independent power producer, recently hosted engineering students from Kwame Nkrumah University of Science and Technology (KNUST) and the University of Mines and Technology (UMaT) at its Anwomaso Branch and Metering Station (ABMS) in Kumasi.
MODEC, Inc. (“MODEC”) is pleased to announce that FPSO Bacalhau has received the Approval in Principle (AiP) for Abate Notation from classification society DNV, making it the first new built FPSO in the world to achieve this prestigious recognition.
TechnipFMC (NYSE: FTI) has
been awarded a significant(1) contract to supply flexible pipes to Petrobras for the pre-salt
fields offshore Brazil.
Vitol has secured three LNG Bunkering Vessels (“LNGBV”) through its shipping company, Vitol International Shipping Pte Ltd (“VIS”).
Giant trading houses and trading desks of integrated oil majors have taken advantage of the extreme volatility in oil and energy prices to make a killing in the markets.
Last month, Singapore-based oil and commodities trading powerhouse Trafigura Group posted the smallest profit since 2020 after oil price volatility dropped to multi-year lows.
Europe’s oil majors are feeling the heat, too, with both BP and Shell Plc warning of impending profit declines at their trading divisions.