Equinor has started drilling for the Raia gas project in the Campos Basin offshore Brazil, one of the country’s largest natural gas developments, the company announced on Tuesday.
Venture Global Inc has signed a deal to supply 1.5 million metric tons per annum (MMtpa) of liquefied natural gas (LNG) over 5 years to commodities trader Vitol Group.
Iran has started charging transit fees on some commercial vessels passing through the Strait of Hormuz, another sign of Tehran’s control over the world’s most important maritime energy channel.
North America dropped 21 rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on March 20.
Drones attacked Russia’s Ust-Luga port on the Baltic Sea setting it on fire as Ukraine carried out the most intense air strike on its foe in more than a year.
Canada and Nova Scotia are advancing a coordinated push to expand offshore oil and gas development, launching a new licensing round and signaling a sustained reopening of the province’s offshore basin to exploration investment.
Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 5% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S.
India-flagged carriers loaded with liquefied petroleum gas (LPG) were passing through the Strait of Hormuz on Monday close to the Iranian coastline, in a sign that Iran is allowing some Indian vessels to transit the world’s most vital chokepoint for energy flows.
Europe’s gasoline exports have started to increasingly shift to Asia in recent weeks as the crude supply shock in the Middle East is tightening Asian fuel supply.
Japan is preparing to start releasing crude oil from stockpiles held jointly by the country and oil producers as well as national stocks