Liquefied natural gas suppliers, including Shell Plc, are declaring force majeure on customers across Asia due to the shutdown at the world’s largest export plant in Qatar, according to people with knowledge of the matter.
TotalEnergies has started production from the Lapa South-West project in Brazil’s Santos basin, about 300 km (186 miles) offshore, adding new output to the company’s existing Lapa field operations.
Viridien has launched a new regional multi-client seismic data initiative aimed at improving exploration insights across India’s offshore basins, starting with a major reimaging program in the Mahanadi basin along the country’s east coast.
Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative on the Red Sea, multiple sources told Reuters on Wednesday.
Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors.
The International Energy Agency (IEA) and its member nations have agreed to release a record 400 million barrels of oil from strategic reserves in an attempt to stabilize global energy markets as the war involving Iran continues to disrupt crude flows through the Strait of Hormuz.
Two oil tankers carrying Iraqi oil products caught fire Wednesday after being struck in Iraqi territorial waters near the country’s southern export terminals, according to Iraqi port officials and multiple media reports.
Oil prices rebounded early on Wednesday as the market fears a massive supply crunch from the ongoing blockage at the Strait of Hormuz, which offset reports that the IEA is preparing its largest-ever release from strategic oil stocks.
Nigeria has temporarily suspended the enforcement and collection of helicopter landing fees imposed on oil and gas operators, following concerns raised by stakeholders in the petroleum industry.
Clusters containing dozens of vessels each appear to signal positions in and around the Strait of Hormuz, suggesting that electronic interference and GPS jamming have soared at the critical oil chokepoint that’s effectively blocked for tanker traffic for more than a week now.