The Israeli government has approved plans to more than double the country’s natural gas exports and expand production at the giant Leviathan Gas Field in a bid to improve energy security and strengthen diplomatic ties. Energy Minister Eli Cohen has given the greenlight for the export of an additional 118 billion cubic meters (bcm) of natural gas from the east Mediterranean reserves, more than double the 105 bcm previously approved.
Brent crude soared to $87.50 per barrel on July 4th for the first time since mid-April, holding firm as a flurry of bullish news supports crude prices in early July. The surge was driven by oil supply threats from Hurricane Beryl and a bullish oil inventory report from the EIA.
Saudi Arabia’s oil giant, Aramco, told Reuters on Thursday that reports it was considering a bid for Australia’s Santos gas producer were inaccurate following widespread publication of a Bloomberg news report that both Aramco and the UAE’s Adnoc were considering bids for the Australian company.
Nigeria’s upstream oil regulator has approved two key onshore assets sale by international oil companies, clearing the way for Oando and new entrant Project Odinmim, to acquire assets, the head of the agency, Gbenga Komolafe, said on Wednesday.
The first oil shipment destined for Uganda docked at the port of Mombasa on Wednesday, marking an end of Kenyan oil market companies fuel transit business to the neighbouring country.
The Petroleum Commission (PC) has signed four agreements with international firms in a bid to secure advanced geological data – 3D seismic data – on the country’s oil fields, according to Director-Local Content, Kwaku Boateng.
State-owned energy giant finds new fields and reservoirs
Non-OPEC producer Kazakhstan, which is part of the OPEC+ output deal, raised its oil production in June, exceeding its quota under the alliance’s agreements, Reuters calculations based on data from sources showed on Wednesday.
ExxonMobil has signed contracts to explore two blocks offshore Morocco, Upstream Online reported on Wednesday.
Technip Energies (PARIS:TE) in partnership with Université Gustave Eiffel, Valeco, and OPEN-C Foundation, will be leading the PAREF project, an R&D program aimed at accelerating industrial-scale development of floating wind. This project is funded by the French State as part of France 2030 operated by ADEME. It aims to design, fabricate, and test a reusable anchoring system, high and low connectors, and tendons for a tension line system, all while minimizing the impact on the marine environment in real offshore conditions.