Shipping companies have grown reluctant to call at the port of Fujairah in the UAE, prompting cancellations of oil cargoes that Adnoc is then reselling at higher prices, Bloomberg has reported, citing anonymous sources.
Iranian drones struck oil storage facilities at the Port of Salalah in Oman on Wednesday, marking the latest attack on Gulf energy infrastructure as the regional war expands into a full-scale confrontation over global oil supply.
Oil prices climbed sharply on Wednesday even after the International Energy Agency announced the largest coordinated release of strategic oil reserves in its history, underscoring the scale of supply concerns stemming from escalating tensions in the Middle East.
Goldman Sachs has once again revised its oil price outlook, now expecting Brent crude to trade at $71 per barrel in the final quarter of the year, and WTI to average $67 per barrel over the same period, Reuters reported, citing the bank’s analysts.
The Government of Guyana, through its Ministry of Natural Resources, is advancing a large-scale 3D multi-client seismic acquisition program offshore, supported by geoscience company Viridien.
The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) generated nearly $47 million in high bids during its latest Gulf offshore oil and gas lease sale, reflecting continued industry interest in exploration acreage on the U.S. Outer Continental Shelf.
Liquefied natural gas suppliers, including Shell Plc, are declaring force majeure on customers across Asia due to the shutdown at the world’s largest export plant in Qatar, according to people with knowledge of the matter.
TotalEnergies has started production from the Lapa South-West project in Brazil’s Santos basin, about 300 km (186 miles) offshore, adding new output to the company’s existing Lapa field operations.
Viridien has launched a new regional multi-client seismic data initiative aimed at improving exploration insights across India’s offshore basins, starting with a major reimaging program in the Mahanadi basin along the country’s east coast.
Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative on the Red Sea, multiple sources told Reuters on Wednesday.