In March Equinor ASA said it has put onstream the Halten East field in the Norwegian Sea, increasing Norway’s capacity to export gas to Europe. Halten East, a tie-in to be developed in two phases, holds about 100 million barrels of oil equivalent recoverable reserves, according to the Norwegian majority state-owned energy company.
Aramco’s monthly sales to Asia, and in particular to China, are an important source of supply for many refiners across the region. The volume of the shipments, which are sold only via long-term contracts, determines how much crude these processors will need to buy on the spot market from producers including Iraq, the United Arab Emirates and West Africa.
Reuters: This month, Russia is expected to pocket $14 billion from oil & gas.
Russia’s oil and gas revenues slumped by 23.9% last year compared to 2022.
Reuters estimates that Russia’s revenues from oil and gas for 2024 would be 30% higher compared to 2023.