Crude oil prices are on track to end the week with a rare gain for the past few months, supported by the Fed’s decision to cut the key interest rate by 0.5%.
Fitch Ratings is maintaining Ithaca Energy plc’s (Ithaca) Long-Term Issuer Default Rating (IDR) of ‘B’ and senior unsecured rating of ‘B+’ on Rating Watch Positive (RWP). The Recovery Rating is ‘RR3’.
ConocoPhillips has inked a natural gas supply deal with German Uniper that would see the U.S. major supply up to 10 billion cu m of gas to the German company annually over a period of 10 years.
China National Offshore Oil Corporation (CNOOC) has started production at Liuhua 11-1/4-1 oilfield secondary development project, which features China’s first cylindrical floating production, storage, and offloading (FPSO) unit and a new platform.
Kent is strengthening its presence in Houston, Texas, with significant strategic investments aimed at expanding its operations and capabilities in the region. Building on its 66-year legacy in the Americas, the company is doubling down on its commitment to the U.S. market as a central hub for its global operations.
Russian oil exports in August 2024 decreased by 290,000 b/d month-over-month (m-o-m) to 7 million b/d, according to analysis from the International Energy Agency (IEA), based on trade data from Kpler and Argus Media. This marks the second consecutive month of decline and the lowest level since March 2021.
While big tech has stolen the headlines, big energy has been the real winner of the past three years.
Tullow Oil is yet to make much headway in its search for a strategic partner, which remains one of the key aspects needed to move Kenya’s oil project forward.
Kenya’s dream of joining the oil exporters club petrodollar remains intact and is just awaiting a revision of the Field Development Plan (FDP), with commercial exports expected in 2028, according to oil giant Tullow.
The Guyanese Government says it intends to implement later this year, an oil and gas data repository that will enable the country to consolidate all historical and current petroleum data in a centralised local facility.