The rates for chartering supertankers have surged to a nearly three-year high this month as more crude is moving out of the Middle East and the U.S. to Asia, Reuters reports, citing sources in the shipping industry and data from LSEG. As OPEC+ continues to raise production, shipments out of the world’s key exporting region, the […]
Asia’s oil demand is growing in the autumn, too, whereas major importers like China keep stockpiling crude, so OPEC+ was right to continue boosting supply, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, said on Thursday.
The 65-kilometre pipeline will connect Ramat Hovav in southern Israel to the Nitzana crossing on the Egyptian border. Construction is expected to begin in the fourth quarter of 2025 and take around three years, subject to regulatory approvals.
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CNOOC International submitted bids for three blocks – TTDAA 24, TTDAA 25 and TTDAA 30 – while a consortium of STIT Energy and GROUNDPORTS Limited bid on Block TTDAA 5. The bidding round, which closed on 17 September, aimed to attract new investment in the country’s underexplored deepwater acreage.
The company drilled six wells during the first half of the year. They include two successful attempts, Sirius-2 ST2 offshore and Currucutú-1 onshore, and two wells that are under evaluation, Toritos Oeste-1 and Toritos Sur-3.
The engineering, preparation, removal and disposal (EPRD) contract will see Allseas deploy its Pioneering Spirit heavy-lift vessel — the largest in the world — to remove the 33,000-tonne topside and 12,000-tonne upper jacket in two separate campaigns starting later this year.
The international conversation over the future of oil and gas often focuses on demand trends while the factors affecting supply receive considerably less attention. The new IEA report, The Implications of Oil and Gas Field Decline Rates, seeks to rebalance this debate by drawing on previous groundbreaking IEA analysis on decline rates and exploring what has changed. The new analysis draws on production data from around 15 000 oil and gas fields from around the world.
The funding, which falls under the EU’s Global Gateway initiative, is aimed at boosting Namibia’s green hydrogen and ammonia production, as well as infrastructure such as transport networks, electricity grids, port facilities and vocational training.
TotalEnergies SE has signed production sharing contracts (PSCs) for four adjoining exploration blocks spanning about 12,700 square kilometers (4,903.49 square miles) in Liberian waters.
The company increased its ownership in WestOil Limited to 48.5%, giving it a 33.95% indirect working interest in Block 2712A, a 5,484 km² license in the basin’s core. The block sits adjacent to acreage held by Chevron and Pan Continental, strategically positioning Oregen within a high-potential exploration corridor.