Canada’s Trans Mountain pipeline hit full capacity for the first time in June, and the company running it already has another 300,000 barrels per day of capacity planned. Most of those new barrels are expected to head across the Pacific.
Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
Tamboran Resources Corp and Formentera Partners have begun initial gas sales from the Shenandoah South Pilot Project, introducing the Beetaloo Basin as a supplier to Australia’s Northern Territory.
SLB and Shearwater GeoServices have launched the Amapá 3D multi-client seismic survey offshore northern Brazil, targeting an underexplored area of the Equatorial Margin as exploration interest grows following the recent Morpho hydrocarbon discovery.
Well integrity and decommissioning specialist Unity has completed a well intervention project in central Italy for SMAPE, deploying a custom thru-tubing solution to achieve isolation in a technically challenging well.
White Fleet Drilling’s WFD 450 jackup rig has begun a multi-well drilling program for Arena Energy on the Gulf of America/Mexico shelf following a $65 million acquisition and refurbishment program.
Saudi Arabia halted operations at several energy facilities in the south after fresh Houthi attacks sparked fires, adding to concerns over oil supplies as Brent crude approaches $100/bbl.
Tamarack Valley Energy and Headwater Exploration have agreed to merge in an all-stock transaction valued at approximately US$7.2 billion (C$10 billion), creating the largest publicly traded pure-play producer in Alberta’s Clearwater oil play.
McDermott has secured a subsea contract from Eni Cyprus Limited for the development of the Cronos gas field offshore Cyprus, marking the company’s first subsea project award with Eni.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon.