Crude oil inventories in the United States saw a build of 4.6 million barrels during the week ending February 14, according to new data from the U.S. Energy Information Administration.
ADNOC has completed a marketed offering to institutional investors of 3.1 billion ordinary shares in ADNOC Gas, raising gross proceeds of approximately USD 2.84 billion, ADNOC announced on Friday.
CNOOC Ltd. has achieved first oil in the second-phase development of the Luda 5-2 North field in the Bohai Sea, the fourth project it announced to have been started up in China this year.
The Railroad Commission of Texas assessed $1,346,019 in enforcement docket fines against operators and businesses at the Commissioners’ open meeting on Wednesday.
Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday.
The two-year, cost-reimbursable contract extension, centers on providing brownfield EPC services, as well as subsea and integrity management, at the Shell UK-operated St Fergus and Mossmorran onshore terminals and the Nelson, Gannet and Shearwater offshore assets.
Tullow Plc Board Chairman, Phuthuma Nhleko has reaffirmed the company’s strong commitment to the growth of Ghana’s energy sector, highlighting its long-term partnership with the country for close to two decades.
The outgoing Biden administration in December then sought to ratchet sanctions on Russian oil, including sanctions on Surgutneftgas and Gazprom Neft, two Russian oil firms which together account for 25% of exports. Middlemen who supply Russian oil have also been targeted.
The effect of this primary tariff exchange was immediate, with Chinese energy traders beginning to redirect cargos of liquefied natural gas to Europe, which has been more than happy to take in any spare LNG as it reels from the first real winter in three years. Crude oil exports from the United States to China will also be affected by the 10% duty. According to some, however, the effect of the tariff war will be most palpable in coal.
After decades of developing its renewable energy capacity, Uruguay is now looking to explore for oil and gas, having made no successful discoveries in the past. New hopes of offshore reserves have encouraged the government to welcome foreign oil majors into its waters to explore for crude, despite the potentially harmful environmental implications of these activities.