Ghana’s crude oil production has extended its downward trajectory for a sixth consecutive year, underscoring deepening structural and operational challenges within the country’s upstream petroleum sector
The restoration of normal jet fuel flows around the world will take months, even if Iran reopens the Strait of Hormuz today, the head of the International Air Transport Association warned.
India is expected to receive this week its first cargo of Iranian oil in seven years, after the U.S. last month unsanctioned purchases of Iran’s oil already loaded on tankers.
The state of Queensland on Wednesday urged Australia’s federal government to fast-track the approval of the Taroom Trough project that would see the first new oil development project the country in 50 years.
Saudi Arabia’s East-West Pipeline, a critical artery bypassing the Strait of Hormuz, was reportedly hit in an Iranian drone attack on Wednesday, Reuters has reported. According to the report, a pumping station along the 1,200 km pipeline was struck by a drone early morning on Wednesday. Prior to the attack, the pipeline was pumping at its emergency capacity of 7 million barrels per day (bpd) to bypass the shuttered Strait of Hormuz
Russia has offered several cargoes of liquefied natural gas from Novatek’s Arctic LNG 2 facility to South Asian buyers, Bloomberg has reported, noting the facility is under U.S., EU, and UK sanctions.
Oil has sharply repriced lower into the mid-$90s, Naeem Aslam, CIO at Zaye Capital Markets, said in a statement sent to Rigzone on Wednesday.
Norway’s upstream oil and gas regulator is courting companies to reevaluate the Gro natural gas discovery, drilled by Shell PLC and later relinquished by Equinor ASA, in the Norwegian Sea.
Two fully laden Chinese oil tankers are waiting near the Strait of Hormuz with a third on its way, putting them in a position to become the first such vessels to leave the Persian Gulf under a day-old US-Iran ceasefire, even as shipowners scrutinize the details of the truce.
Oil and natural gas prices dropped sharply after the U.S. and Iran agreed to a two-week ceasefire aimed at halting the six-week conflict, though uncertainty persists over the timing of resumed flows through the Strait of Hormuz.