Feb 17 (Reuters) – Oil settled down $2 a barrel on Friday and ended the week markedly lower, as traders worried that future U.S. interest rate hikes could weigh on demand and got nervous about mounting signs of ample crude and fuel supply.
The total number of total active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published on Friday
PGS, a leading provider of geophysical services, has announced its partnership with the Ghanaian Petroleum Commission to bring the latest technology in interactive rock physics to Ghana’s offshore. This new regional atlas provides an exceptional screening tool for explorationists. It features well-known discoveries in the area, and provides key insights for porting success to new areas.
On February 15, 2023, Ministers responsible for energy from around 40 countries took part in an IEA Ministerial meeting on Gas Markets and Supply Security. Ministers expressed their sincere condolences to Türkiye following the tragic loss of life caused by the devastating earthquakes this month and pledged their continued support for disaster relief and recovery efforts in the country.
The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has made adjustments to monetary penalties for oil and gas companies, implementing the 2023 inflation adjustments for the maximum daily civil monetary penalties contained in BOEM regulations in accordance with Federal law.
BEIJING – The earthquake that hit Turkiye and Syria on Feb 6 was one of the deadliest in the two nations’ history. Apart from claiming more than 37,000 lives and leaving many others injured, which should be deeply mournful, the earthquake is also likely to affect the world economy by causing changes in logistics and transportation, even if it doesn’t affect global output
Egypt is seeking investment in all aspects of energy production, whether it be in traditional fossil fuels or renewables, the Minister of Petroleum and Mineral Resources Tarek El Molla has said.
ADNOC and RWE Aktiengesellschaft (RWE) have announced the successful delivery of the first shipment of LNG from Abu Dhabi, UAE, to the Elbehafen floating LNG terminal in Brunsbüttel, Germany.
On Tuesday, Goldman Sachs analysts raised Occidental Petroleum (NYSE:OXY) to Buy from Neutral with an $81 per share price target.
Crude oil prices rose in Asian pre-noon trade today after OPEC and the International Energy Agency raised their demand forecasts for the year, shaking off EIA’s latest weekly inventory report that estimated a large inventory build in the United States.