Investment in oil and gas production is set to rise as disruptions from the Iran war spur a global push for energy security, according to the head of Baker Hughes Co.
India has ramped up purchases of Russian oil and revived alternate supplies from Africa, Iran and Venezuela to blunt a sharp crude shortfall from the crisis-ridden Middle East, analysts said
Oil prices rose Sunday after an Iranian official warned that the Strait of Hormuz will “under no circumstances” return to its previous state.
State-owned Ecopetrol SA, Bogotá, Colombia, has agreed to acquire a 26% equity stake in Brava Energia SA from a group of shareholders and plans to launch a tender offer to increase its ownership to 51%, which would give it control of the Brazilian oil and gas independent.
Iran’s parliament speaker pushed back at U.S. claims of energy leverage on Sunday, arguing Tehran still holds unplayed supply cards as Strait of Hormuz oil exports remain 95% below normal flows.
PricewaterhouseCoopers (PwC) has called on South African investors, banks, and policymakers to take direct stakes in Nigeria’s upstream oil sector to guarantee crude supply for their domestic refineries, adopting the same playbook European and American majors used to build energy security for their countries.
SLB has agreed to acquire the upstream geoscience and petroleum engineering software portfolio of S&P Global’s energy division, expanding its digital subsurface capabilities and presence in U.S. unconventional workflows.
The global oil market is moving toward a critical inflection point as a supply disruption approaching 1 billion barrels begins to force demand lower, with traders warning that the prolonged closure of the Strait of Hormuz will soon trigger a broader consumption shock.
Golden Pass LNG, designed to export about 18 million metric tons per annum (MMtpa), has dispatched its inaugural cargo. “Marking an important step towards the project’s commencement of full commercial and export operations, the project’s historic LNG cargo was safely and successfully loaded onboard QatarEnergy’s Al-Qaiyyah LNG carrier, recently built in the Republic of Korea […]
Oil jumped amid fresh signs of escalation in the Iran war, dimming prospects for an imminent resumption of flows through the Strait of Hormuz. West Texas Intermediate futures rose 3.1% to settle near $96 a barrel in New York, after earlier rising by as much as 5.8%. Brent settled above $105 a barrel. Prices jumped […]