Aker BP and Armada have agreed to deploy a modular offshore data center on the Norwegian Continental Shelf, aimed at enabling real-time processing of drilling and operational data directly at the rig site.
Brent crude is seen averaging $85 per barrel this year, and West Texas Intermediate could see an average price of $79, Goldman Sachs commodity analysts said in a note released Sunday. They added that the supply loss from the crisis is going to peak at 17 million barrels daily.
The Dangote Petroleum Refinery has exported 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries, expanding its regional presence amid ongoing fuel supply challenges linked to geopolitical tensions in the Middle East.
A cargo vessel has been hit by an unknown projectile in the Strait of Hormuz, which has ignited a fire onboard, the United Kingdom Maritime Trade Operations (UKMTO), a Royal Navy-sponsored organization, said on Wednesday.
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.