In a financial update, India’s ONGC revealed that it has made five new discoveries in FY’ 25 so far. Since May 2024, ONGC has made three more discoveries (one onshore and two offshore) in its operated acreages. SourceContinue Reading
Galp has agreed to purchase approximately 0.5 MMtpa of LNG for 20 years from Cheniere Marketing on a free-on-board basis for a purchase price indexed to the Henry Hub price, plus a fixed liquefaction fee. SourceContinue Reading
The NO5-A project involves the creation of an offshore platform comprising a topside and a six-legged non-battered jacket. Upon completion, the NO5-A Platform will be the first electrified gas production platform in the North Sea, powered entirely by offshore renewable energy from the nearby Riffgat offshore wind farm. SourceContinue Reading
Diamondback, one of the largest independent operators in the oil-rich Permian basin of West Texas and New Mexico, expects to pumps as much as 276,000 bpd this year, up from an earlier top-end forecast of 275,000 bpd, according to a statement released Monday. SourceContinue Reading
The investments add to a buying spree this year for the Slim family, which continues to pour money into bets on oil exploration, production and refining both at home and across the Gulf of Mexico in the U.S. SourceContinue Reading
U.S. To Purchase More Oil for SPR While Prices Are Low | 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 Related News By Julianne Geiger – Aug 06, 2024, 12:30 PM CDT The U.S. Department of Energy (DOE)...Continue Reading
Is the Oil Price Collapse Finally Over? | OilPrice.com Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info Premium Content By Tom Kool – Aug 06, 2024, 11:00 AM CDT Hedge funds have turned bearish on commodities for the first time since 2016,...Continue Reading
High Power Demand Boosts Duke Energy’s Q2 Profit | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 06, 2024, 10:30 AM CDT U.S. utility giant Duke Energy (NYSE: DUK) beat analyst estimates as higher sales volumes and increased rates boosted its revenues for the second quarter....Continue Reading
Despite Aramco’s profit falling in the second quarter due to OPEC+ constraints on the company’s output, Nasser painted a picture of healthy and growing demand. Oil use is set to rise by 1.6 MMbpd to 2 MMbpd this year. That will continue into 2025 when Nasser sees global oil consumption “north of 106 MMbpd.” SourceContinue Reading
How Venezuela’s Election Unrest Will Impact Global Oil Markets | OilPrice.com Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. More Info Premium Content By Alex Kimani – Aug 06, 2024, 10:00 AM CDT Venezuelan President Nicolás Maduro has been declared the winner of a controversial presidential election, sparking...Continue Reading
