Oil and gas prices rose again on Tuesday after Iran carried out attacks on production facilities for the first time since the start of the war with the US and Israel.
Chinese state oil giants are back scouring the market for Russian crude, four months after halting purchases due to the U.S. sanctions on Rosneft and Lukoil, as China aims to offset losses of supply stuck in the Strait of Hormuz.
Japan’s petroleum refiner Idemitsu Kosan has committed $500 million to LNG investment company MidOcean Energy as part of MidOcean’s equity raise of $1.2 billion, as the Japanese refining giant is looking to enter the global LNG business on a full-scale basis.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 6.556 million barrels in the week ending March 13—a surprise build of significant magnitude. In the week prior, US crude oil inventories shed 1.7 million barrels. Analysts had expected a draw of 600,000 barrels in the current reporting period.
The U.S. Department of the Interior has initiated a fast-tracked environmental review of a proposed offshore well stimulation program at Platform Gilda, located about 8.8 miles offshore Ventura County, California.
SLB’s OneSubsea joint venture has been awarded an integrated engineering, procurement and construction (EPC) contract by CNOOC for the Kaiping 18-1 deepwater field in the South China Sea.
Monumental Energy Corp said Monday commercial production has resumed at the Waihapa H1 well in the Taranaki basin onshore New Zealand.
Venture Global Inc has made a final investment decision (FID) to proceed with the second phase of the CP2 LNG project in Cameron Parish, Louisiana, whose phase 1 is still under construction.
Buccaneer Energy has acquired a 100% working interest in the Carlisle-1 well in the Pine Mills field, East Texas, strengthening its position in the Fouke area and increasing near-term production and cash flow.
Petrobras has exercised its preemptive right to acquire Petronas’ 50% stake in the Tartaruga Verde field and the Espadarte Module III development in Brazil’s Campos basin, a move that will restore the company’s full ownership of the assets.