Oil prices climbed 2% early Thursday morning as Tropical Storm Francine landed on the coast of Louisiana.
Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) awarded Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited’s (BPCL) joint venture, Urja Bharat Pte Limited (UBPL), an oil and gas production licence for Onshore Block 1, BPCL announced on Wednesday.
Transocean has been awarded a USD 232-million contract from BP for the Deepwater Atlas drillship to carry out works in the US Gulf of Mexico, the company said on Wednesday.
OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s second consecutive downward revision.
Crude oil prices moved higher earlier today on anticipation that tropical storm Francine would disrupt oil and gas production in the Gulf of Mexico.
Abu Dhabi’s national oil company ADNOC is expected to soon make a formal offer to buy Germany’s chemicals giant Covestro for $15.9 billion (14.4 billion euros) including debt, the Financial Times reported on Wednesday, citing sources with knowledge of the plan.
Exxon Mobil (XOM.N) has pulled out of the race to buy half of Galp Energia’s (GALP.LS) stake in a large oil discovery in Namibia that has attracted interest from top energy companies, sources with knowledge of the matter said.
Regulators in Massachusetts and Rhode Island last week made three offshore wind project contract awards totaling 2,878 megawatts (MW) of new offshore wind capacity.
MSM Oil and Gas is poised to become Nigeria’s biggest indigenous oil exploration and production company, while setting a new standard for excellence and reinforcing its position as a key player in shaping the future of the oil and gas sector.
There were indications that Nigeria has gotten close to meeting its 1.7 million barrels per day, bpd, 2024 budget target, yesterday, as oil output rose month-on-month, MoM, to 1.4 million barrels per day, bpd, excluding condensate, in August 2024, from 1.3 million bpd in July 2024, indicating an increase of 3.4 per cent.