Rystad Energy’s Senior Vice President shares an oil market update
Oil markets are eagerly awaiting the OPEC+ meeting on 26 November, in anticipation of what kingpin Saudi Arabia decides over its voluntary crude oil production cuts of 1 million bpd.
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Oil markets are eagerly awaiting the OPEC+ meeting on 26 November, in anticipation of what kingpin Saudi Arabia decides over its voluntary crude oil production cuts of 1 million bpd.
Dana Petroleum and NEO Energy have announced the signing of a sale and purchase agreement under which NEO Energy will acquire Dana’s full equity in the Western Isles FPSO.
As a result of the order issued by the United States court of appeals for the fifth circuit, the Bureau of Ocean Energy Management (BOEM) has scheduled Lease Sale 261.
The platform gathers, analyses and verifies diagnostic data from instruments remotely, without interrupting current measurement tasks.
Located in the Malacca Strait, the project has received industry funding and will deliver early products in December 2023 and final results in August 2024.
This development supports Aramco’s strategy to increase gas production by more than half, over 2021 levels, through 2030, subject to domestic demand.
The round was led by existing investors Mercury and Montrose Lane, plus new investors BDC Capital and Accelerate Fund III.
Odfjell Drilling has announced that Equinor has exercised options for seven wells to extend the use of the Deepsea Aberdeen on the Breidablikk field.
The company has announced that it has won orders for premium oil country tubular goods (OCTG) from Aramco.
ExxonMobil has started production at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620 000 bpd.
PETRONAS has signed a Memorandum of Cooperation (MoC) with Vietnam oil and gas group (PETROVIETNAM) to explore potential collaboration opportunities in the upstream, renewable energy, gas, and downstream sectors in Vietnam.
Developed by OneNexus to help the energy industry meet the challenge of its Asset Retirement Obligations (ARO), WellSecure is a financial contract that provides long-term financial security for the purpose of funding oil and gas decommissioning liabilities.