Nigeria is positioning its oil and gas sector for renewed investment as government officials prepare to engage with global stakeholders at the Invest in African Energy Forum in Paris next month.
Two tankers that loaded LNG from Qatar before the war began appear to be attempting to exit the Strait of Hormuz in what could be the first export of Qatari LNG in over a month.
The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its export capabilities amid surging oil prices.
The premiums for U.S. West Texas Intermediate crude have soared in the spot market to a record high of between $30 and $40 per barrel above key regional benchmarks as Asia and Europe scramble for supply amid the de facto closure of the Strait of Hormuz.
South Korea is sending a senior government official to Oman, Kazakhstan, and Saudi Arabia in a bid to secure crude oil supply that does not need to pass through the Strait of Hormuz,
A statement posted on OPEC’s website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE (United Arab Emirates), Kuwait, Kazakhstan, Algeria, and Oman have decided to boost production by more than 200,000 barrels per day next month.
Traffic through the Strait of Hormuz has climbed to its highest levels since the early days of the war, as more countries secure apparent safe-passage agreements with Iran.
India is set to import the most oil from Venezuela in almost six years, helping the world’s third-largest crude importer replace Middle East grades disrupted by the Iran war.
Lion Energy has contracted the SCD-20 rig from Silver City Drilling to drill the Bula Karang-1 exploration well in Indonesia’s East Seram production sharing contract, marking a key step toward spudding the prospect.
U.S. shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so.