Petroleum production in the waters between the UK and Norway peaked some 20 years ago. Yet the offshore industry still supports more than 200,000 jobs and adds billions of pounds to the nation’s GDP, giving it serious economic weight even in its twilight years. SourceContinue Reading

FTC investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, according to people familiar with the matter who asked not be named discussing non-public information. Such communications, particularly on pricing and output, could be illegal under U.S. antitrust laws. SourceContinue Reading

The Ocean BlackRhino was awarded a contract with a minimum duration of 180 days for a total value of approximately $89 million. The contract also includes two additional option periods. SourceContinue Reading

National Ocean Industries Association (NOIA) President Erik Milito released a statement in response to President Joe Biden’s announcement that he will not seek reelection and will instead endorse Vice President Kamala Harris. SourceContinue Reading

The Plot to Further Disrupt Russian Oil Flows Proves That Sanctions Don’t Work | OilPrice.com Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Premium Content By Julianne Geiger – Jul 21, 2024, 4:00 PM CDT While Russia sends more...Continue Reading

The Plot To Further Disrupt Russian Oil Flows Proof That Sanctions Don’t Work | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Premium Content By Irina Slav – Jul 21, 2024, 4:00 PM CDT While Russia sends more of...Continue Reading

Major oil field service companies are pivoting to more work in international and offshore fields amid a slowdown in U.S. shale activity brought on by industry consolidation, low natural gas prices and pressure to keep spending muted and return profits to shareholders. SourceContinue Reading

Colombian driller EcoPetrol could end up acquiring an even larger stake, up to 49%, in the assets Occidental agreed to buy from CrownRock LP for $12 billion in late 2023. This option expires in August, according to a filing. SourceContinue Reading

The upstream assets consist of a portfolio of production and exploration licenses in the DNS comprising 2,415 km2 (approximately 600,000 net acres). The licenses are in shallow water at an average water depth of 34 m, approximately 60 km offshore. SourceContinue Reading

Goldman Sachs Sees Downside For Copper in The Short Term | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Jul 21, 2024, 2:00 PM CDT In recent weeks, copper has been stuck in a narrow range and is down about 15% from the record...Continue Reading