India, the world’s third-biggest oil importer, gets a bulk of its Russian supplies made up over 35% of India’s total crude imports in 2023, amounting to 1 .7 million barrels per day.
Saudi Arabia is exporting crude oil via the Red Sea as usual despite Houthi attacks on vessels in the region, a senior Aramco official told Bloomberg.
“We’re moving in the Red Sea with our oil and products cargoes,” Mohammed Al Qahtani, head of Aramco’s refining, oil trading and marketing division said, adding that the risks were “manageable”.
The oil and gas industry is undergoing its biggest-ever consolidation, according to Enverus.
Upstream merger and acquisition activity hit $144 billion in the fourth quarter alone and $190 billion for 2023, both setting records.
Bids from Exxon Mobil, Chevron, and Occidental Petroleum were among the key deals fueling the record.
ADELAIDE, Australia — The Valaris 107 jackup rig has completed drilling the Kupe South 9 development in the Taranaki Basin offshore New Zealand, Beach Energy said in its latest results statement.
Saudis Continue Sending Oil via Tense Red Sea
by Bloomberg|Matthew Martin & Anthony Di Paola|Friday, January 26, 2024
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Saudis Continue Sending Oil via Tense Red Sea
Aramco is bucking threats on Red Sea vessels from Yemen’s Houthi rebels.
Image by sandsun via iStock
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to Israel’s war in Gaza.
Tullow Oil has issued a statement in advance of the Group’s 2023 Full Year Results scheduled to be announced on 6 March
Eni Inks Decarbonization Deals with Kazakh Companies
by Jov Onsat|Rigzone Staff|Monday, January 22, 2024
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Eni Inks Decarbonization Deals with Kazakh Companies
Eni signed three energy transition-related deals with Kazakh firms, including a commitment pact for a planned hybrid-fuel power project.
Image by e-crow via iStock
Eni SPA has signed three energy transition-related agreements with companies in Kazakhstan, including a commitment pact for a planned hybrid-fuel power project.
The West African Gas Pipeline Company Limited (WAPCo), has announced that it will undertake a three-day coordinated and planned Emergency Shut Down and High Integrity Pressure Protection System (HIPPS) Proof tests at its facilities in Ghana, Togo, Benin, and Nigeria.
Macro fundamentals for oil and natural gas remain “strong” even amid near-term commodity price volatility, which should create a healthy outlook for the oilfield services sector in the near and medium term even if most of the projected 2024 growth is internationally weighted, the top executive at oilfield services provider Halliburton said Jan. 23.
What does the pathway to first oil look like for Namibia? Are there any updates on the technical and commercial viabilities of the recent discoveries?
Namibia has been on a roll since 2022, in that nearly every hole that has been drilled in the subsurface has yielded a positive indication of hydrocarbons. Between February 2022 and July 2023, we have had oil discoveries: the Graff-1, Jonker- 1X, La Rona-1 and Lesedi-1X discoveries in PEL 39 by Shell Namibia Upstream BV and its partners, and the Venus-1 discovery in PEL 56 by TotalEnergies EP Namibia and its partners. It has been a journey to get here – we drilled close to 37 dry wells prior to these discoveries. When the results were negative, it was very difficult to make the case to the world that Namibia does have oil and gas accumulation. These discoveries are a testament to both patience and hard work, as well as the potential of the market.