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Natural gas consumption recovers in October as global prices decline

[2022-11-19 13:33:06]

MELBOURNE: Oil pared early gains and was on track for a steep weekly decline on concerns about weakening demand in China and further interest rate rises by the US Federal Reserve. Brent crude futures had edged lower by 13 cents or 0.1 per cent to $89.65 a barrel by 0737 GMT, and were not far off ... Read More

Valaris announces multiple contracts, extensions in Mexico, UK North Sea, Australia

[2022-11-17 13:28:37]

Valaris recently announced several contract awards: A three-well contract with Eni Mexico offshore Mexico for the VALARIS DPS-5 semisubmersible. The contract is expected to commence in Q4 2022 and has an estimated duration of 240 days. The dayrate is $313,500, plus a mobilization fee of approximatel... Read More

Oil Rises in Choppy Session Amid Inflation Slowdown

[2022-11-11 15:16:35]

Oil rose in a volatile session as broader market rally overtook earlier concerns over China’s Covid Zero policy weighing on their demand outlook. West Texas Intermediate settled above $86 a barrel after a choppy session in which futures traded in a $3 range. Dour sentiment over China’s commitment to ... Read More

ExxonMobil makes new discovery in Angola Block 15

[2022-11-11 14:50:29]

The National Agency for Petroleum, Gas and Biofuels (ANPG), ExxonMobil Angola and the Angola Block 15 partners announced a new discovery at the Bavuca South-1 exploration well in Block 15. The well encountered 30 m (98 ft) of high-quality, hydrocarbon-bearing sandstone. It is located approximately ... Read More

BP Looking At Billions in Buybacks For Q4

[2022-11-03 14:31:01]

By Alex Kimani - Nov 02, 2022, 3:30 PM CDT British oil and gas supermajor BP Plc.(NYSE: BP) has announced plans to buy back $2.5 billion in shares after an impressive third quarter. BP delivered strong Q3 results that far exceeded market expectations, including adjusted net income of $8.15B that ... Read More

Kongsberg Digital launches new application to optimise drilling and well operation

[2022-11-03 10:55:14]

Kongsberg Digital has launched a new application at ADIPEC, which will enable operators in the energy sector to follow their key performance indicator (KPI) progress on drilling and well operations in real time. Invisible lost time (ILT) – the difference between actual operational duration and a ... Read More

ExxonMobil Finds Oil Two More Times In Guyana

[2022-10-27 15:42:10]

U.S. supermajor ExxonMobil has made discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, adding to its extensive portfolio of development opportunities. ExxonMobil has made more than 30 discoveries on the block since 2015, and it has ramped up offshore development ... Read More

Saudi Arabia launches initiative to address supply chain challenges

[2022-10-27 10:14:32]

Saudi Arabia announced the launch of its Global Supply Chain Resilience Initiative (GSCRI), which aims to enable investors from all sectors to benefit from the country’s resources and capabilities and support and develop these value chains. Through the initiative, the country aims to ensure the ... Read More

Neptune Energy receives approval to increase Römerberg oil production

[2022-10-13 11:00:21]

Neptune Energy has announced approval from the State Mining Authority for Rhineland-Palatinate to raise the production limit at its operated Römerberg oil field in the Rhine Valley, south-western Germany, enabling Neptune to increase oil production by up to three times the current limit of 3700 ... Read More

China accelerates oil, gas projects to ensure energy supply in winter

[2022-10-13 10:15:49]

Oil and gas production has exceeded 10 million tons in the Fuman Oilfield area, a main crude oil block located in the Tarim Oilfield in Northwest China's Xinjiang Region, marking a breakthrough for China's ultra-deep oil and gas development amid efforts to consolidate the nation's energy security. ... Read More

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