Saudi oil giant Aramco has restarted operations at the Kingdom’s biggest refinery Ras Tanura, which was shut as a precaution in the early days of the war following a drone strike in the area, a source with knowledge of the situation told Bloomberg on Wednesday.
Oil prices surged sharply on Wednesday as the Iran conflict continued to disrupt flows through the Persian Gulf, with the global benchmark pulling decisively away from U.S. crude as the Brent-WTI spread widened to roughly $10 per barrel, signaling mounting stress in seaborne supply markets.
Ukraine has agreed to work with the European Union to restart the flow of Russian oil to Hungary and Slovakia via the Druzhba pipeline, EU senior officials said Tuesday
Equinor ASA on Tuesday announced another oil discovery around the Johan Castberg field on Norway’s side of the Barents Sea, with preliminary estimated recoverable resources of 24 million barrels of oil equivalent.
Iran has warned that oil and gas infrastructure across the Persian Gulf could become “legitimate targets” following a strike on its giant South Pars gas field, escalating concerns over regional supply disruptions and global energy market volatility.
Baker Hughes has secured a 60-month services agreement with Petrobras to support critical turbomachinery across Brazil’s offshore production system and refining operations.
Eni has taken final investment decisions (FIDs) on two major deepwater gas hub developments offshore East Kalimantan, advancing projects expected to deliver up to 2 Bcf/d of gas and 90,000 bpd of condensate at plateau.
GNPC Explorco, the upstream exploration arm of the Ghana National Petroleum Corporation (GNPC), has successfully completed an aerial geophysical survey across key districts under its Voltaian Basin project.
Oil and gas prices rose again on Tuesday after Iran carried out attacks on production facilities for the first time since the start of the war with the US and Israel.
Chinese state oil giants are back scouring the market for Russian crude, four months after halting purchases due to the U.S. sanctions on Rosneft and Lukoil, as China aims to offset losses of supply stuck in the Strait of Hormuz.