Petrofac, a leading provider of services to the global energy industry, has today been awarded a Technical Services Contract by Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol), the National Oil Company of Equatorial Guinea, to support the operation of the region’s Block B asset.
– Oil wiped out an earlier sharp jump as Iranian media appeared to downplay the impact of Israeli strikes that followed last weekend’s unprecedented bombardment by Tehran.
An initial assessment of Nova Scotia’s offshore wind potential says an operating wind farm off the province’s coast is still seven to 10 years out.
zilian state-owned oil and gas giant Petrobras has made an oil discovery at another well in the Equatorial Margin, which stretches along the Brazilian coast from Rio Grande do Norte to Amapá.
Tullow has affirmed its commitment to Ghana’s socio-economic growth through its operations in the country.
The Kazakh authorities have increased their arbitration claims against international oil companies involved in the development of the Kashagan oil field. The claims now exceed $150 billion and seek compensation for lost revenue in addition to ongoing disputes over the production costs.
In the UK, anxiety over the crisis after Iran’s missile strike on Israel drives down UK shares
The Nigerian Upstream Petroleum and Regulatory Commission (NUPRC) has said that Nigeria has added new oil and gas reserves The chief executive of NUPRC, Gbenga Komolafe, said that the country added about 1.087bn barrels of crude oil and 2.574 trillion cubic feet of gas Recent data showed that Nigeria ranked second to Libya in crude oil reserves in Africa and first in gas reserves on the continent
Crude oil prices moved lower today after the Energy Information Administration reported an inventory increase of 2.7 million barrels for the week to April 12.
The oil price rally has lately lost some steam, with WTI for May delivery and June Brent futures slipping more than 5% since Friday after the Energy Information Administration (EIA) released bearish weekly data that triggered demand concerns. According to the EIA, crude inventories rose 5.84 mb w/w and oil product inventories rose 6.57 mb; however, the builds relative to the five-year average were modest, at just 0.11mb for crude oil and 1.24mb for products. U.S. commercial inventories now stand 16.47mb below the five-year average, with crude inventories at Cushing 7.35 mb below the five-year average.