Oil prices are under pressure as the U.S. dollar continues to strengthen and fears of a higher-for-longer interest rate weight on demand expectations.
Worley has signed a FEED contract with QatarEnergy LNG for CCS facilities at the Ras Laffan project in Qatar, the American-Australian engineering giant announced on Monday.
Shell has signed an agreement to supply at least 4.25 mcm (150 mcf) per day of gas from the upcoming Manatee project with Trinidad and Tobago’s state-run NGC through 2036, Reuters reported on Friday.
Nigeria’s NOC NNPC has signed an agreement with partnered oil majors to cut deadlines on contract negotiations from three years to six months, Reuters reported on Monday.
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, says the country’s total annual upstream capital expenditure has decreased from 27 billion dollars in 2014 to less than six billion dollars in 2022.
A U.S. appeals court on Monday gave the Biden administration until Nov. 8 to hold an expanded sale of oil and gas leases in the Gulf of Mexico, the latest development in a legal fight over federal protection of an endangered species of whale.
The Russian government has hit the country’s oil producers with sudden export restrictions in a move that Moscow declared is in response to the shortage of fuels on the domestic market and a jump in domestic fuel prices that the Kremlin wants to avoid.
Egypt launched on Monday an international bidding round for oil and gas exploration in 23 onshore and offshore blocks, the Ministry of Petroleum and Mineral Resources said.
Gas prices are still expected to stabilise heading into winter despite a recent rise in spot prices on European benchmarks, energy experts have said.
Ninepoint Energy Fund’s Eric Nuttall sees a strong year ahead for oil stocks, which have been lagging behind the surge in oil prices, citing unprecedented draws in oil inventories. Nuttall, who manages Canada’s largest energy mutual fund, says “the macro backdrop for oil has never been as positive” in his career, and while oil stocks are not soaring along with crude prices that have recently been flirting with $95 per barrel, this is the time to invest.