Equinor’s exploration well 31/1-4 in the North Sea has yielded an oil and gas discovery estimated at between 2 million-12 million boe, Equinor announced on Tuesday.
ADNOC Drilling Company has announced the closing of the Turnwell Industries joint venture (JV) between ADNOC Drilling, SLB and Patterson-UTI.
Petro-Victory Energy Corp. has announced the signature of an exclusivity agreement with Brava Energia S.A. for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte, Potiguar Basin.
After extensive reviews of public comments and stakeholder input, the Railroad Commission of Texas has adopted a significant overhaul of rules regulating oil and gas waste management facilities in Texas. RRC Commissioners voted to adopt the new regulations at their open meeting today.
Central Asia’s largest producer said in August that it was targeting 97.2 million metric tons of oil production in 2025. Since that figure was announced, there has been a major shift in OPEC+ production policy that will see members’ output curtailed for much longer than expected
According to the Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released recently, the U.S. will produce an average of 13.53 million barrels per day of crude oil, including lease condensate, in the fourth quarter of 2024.
West Texas Intermediate dropped almost 1% to settle near $70 a barrel, while Brent slid to around $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday.
The financial curbs on oil trading firms, 2Rivers DMCC and 2Rivers Pte Ltd. will clamp down on Russia’s oil revenues and drain President Vladimir Putin’s “war chest,” the UK government said in a statement on Tuesday. The two firms were “key lynchpins in enabling the trading of Putin’s precious oil,” it said.
There’s been a resurgence of tankers that are part of the mainstream fleet loading Russian crude after oil slipped closer to price-cap compliant levels, according to BRS Shipbrokers. The share of regular ships taking Russian crude over recent weeks has climbed by about 2%, BRS said in a note dated Dec. 16. Should oil prices […]
Kosmos’ statement follows initial disclosures on December 12, 2024, when media reports revealed the early-stage discussions surrounding a potential all-share offer for Tullow.