The head of the National Iranian Oil Company (NIOC) has said the company is going to ink contracts worth $14 billion with domestic companies for the development of the country’s oil and gas fields by the end of the current Iranian calendar year (March 19).
Rocky Mountain oil and gas company Zephyr Energy plc provided an update on its project in the Paradox basin, Utah, and its non-operated project in the Williston basin, North Dakota.
According to StanChart, the global oil surplus we are currently witnessing is due to seasonal weakness in the month of January.
StanChart notes that there’s been a January inventory draw in only three years since 2004, with the first month of the year averaging a build of 1.2 million barrels per day.
StanChart has predicted that this surplus is transitory and will flip into a 1.6 mb/d deficit in February.
Europe’s oil refineries are stepping up crude purchases following a surge in the price of diesel and disruptions to imported shipments from the Middle East. The situation is driving up the cost of physical barrels of oil.
The last thing Senegal needed in its long-drawn-out effort to capitalize on large oil and gas finds off its coast was political turmoil.
The Petroleum Holding Fund (PHF) recorded a total inflow of US$1.06 billion in 2023 despite economic headwinds.
Ghana’s total earnings from exports of crude oil, production activities, surface rental and corporate taxes for 2023 witnessed some significant decline.
Houston-based Diamond Offshore Drilling has won a contract with Serica Energy for one of its semi-submersible rigs and an extension from BP for drillship work.
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The Department of Mineral Fuels is preparing to open bidding for petroleum exploration projects in nine terrestrial fields across Thailand before the end of this year in the hope of finding petroleum, natural gas and crude oil.
In a step toward building the first massive wind farms off California’s coast, three Assemblymembers today proposed a $1 billion bond act to help pay for the expansion of ports.