Japan will release additional volumes of crude oil next month, Prime Minister Sanae Takaichi said today, confirming earlier reports about more releases from inventories to handle the supply squeeze resulting from the war in the Middle East.
Multiple attacks on oil and gas facilities in Saudi Arabia have resulted in a 600,000-bopd reduction to the country’s oil production capacity and a 700,000-bopd loss in throughput along the East-West Pipeline, the Saudi state news agency SPA reported on Thursday.
Oil climbed in choppy trading as a tenuous ceasefire between the US and Iran failed to allay fears of further disruptions to Middle Eastern flows, while shipping through the Strait of Hormuz remains largely blocked.
Subsea7 has been awarded a major subsea contract by Petrobras for the Sépia 2 development in Brazil’s Santos basin, expanding its presence in the country’s pre-salt sector.
ConocoPhillips has dispatched a team to Venezuela to evaluate the prospects for a return to drilling in the oil-rich Caribbean nation almost two decades after billions of dollars in assets were seized by the socialist regime.
DTEK Oil&Gas has signed a memorandum of understanding (MOU) with Baker Hughes aimed at increasing natural gas production in Ukraine and strengthening domestic energy supply.
Occidental Petroleum (Oxy) has reported an oil discovery at the Bandit prospect in the U.S. Gulf of America/Mexico, encountering oil-bearing sands in a key deepwater exploration area offshore Louisiana.
SLB’s OneSubsea joint venture has been awarded a contract by Beacon Offshore Energy (BOE) Exploration & Production LLC to supply a high-pressure, high-temperature (HPHT) multiphase boosting system for the Shenandoah field in the U.S. Gulf of America/Mexico.
Libya’s National Oil Corporation (NOC) has made new oil and gas discoveries with Eni, Repsol and Sonatrach in the country’s offshore and onshore basins, NOC announced in separate statements on Wednesday.
Egypt agreed to buy the entire output of the Aphrodite gas deposit in Cyprus when the field starts up in about six years, as the North African country looks to ensure long-term supply to meet growing demand.