Saudi Arabia’s East-West Pipeline, a critical artery bypassing the Strait of Hormuz, was reportedly hit in an Iranian drone attack on Wednesday, Reuters has reported. According to the report, a pumping station along the 1,200 km pipeline was struck by a drone early morning on Wednesday. Prior to the attack, the pipeline was pumping at its emergency capacity of 7 million barrels per day (bpd) to bypass the shuttered Strait of Hormuz
Russia has offered several cargoes of liquefied natural gas from Novatek’s Arctic LNG 2 facility to South Asian buyers, Bloomberg has reported, noting the facility is under U.S., EU, and UK sanctions.
Oil has sharply repriced lower into the mid-$90s, Naeem Aslam, CIO at Zaye Capital Markets, said in a statement sent to Rigzone on Wednesday.
Norway’s upstream oil and gas regulator is courting companies to reevaluate the Gro natural gas discovery, drilled by Shell PLC and later relinquished by Equinor ASA, in the Norwegian Sea.
Two fully laden Chinese oil tankers are waiting near the Strait of Hormuz with a third on its way, putting them in a position to become the first such vessels to leave the Persian Gulf under a day-old US-Iran ceasefire, even as shipowners scrutinize the details of the truce.
Oil and natural gas prices dropped sharply after the U.S. and Iran agreed to a two-week ceasefire aimed at halting the six-week conflict, though uncertainty persists over the timing of resumed flows through the Strait of Hormuz.
ONE-Dyas has started production from a second well at its N05-A platform in the North Sea, increasing total output at the site to approximately 1 billion cubic meters (Bcm) per year.
Oregen Energy has signed a letter of intent to evaluate an equity investment in Petrovena Energy and grow its footprint in Namibia’s Orange Basin, Oregen announced on Tuesday.
Libya’s National Oil Corporation (NOC) has made new oil and gas discoveries with Eni, Repsol and Sonatrach in the country’s offshore and onshore basins, NOC announced in separate statements on Wednesday.
The Nigerian National Petroleum Company (NNPC) Limited has launched exports of Nigeria’s new Cawthorne crude grade with a first cargo bound for the Netherlands, NNPCL announced on Wednesday.