Var’s Balder X project — extending production to 2045 — includes vessel upgrades, as well as new production and water injection wells. It had already suffered from delays associated with the Covid-19 pandemic, bad weather that complicated drilling, as well as inflation driving up the price of services. SourceContinue Reading

Iran Appoints New Oil Minister, Warns Reserves Are Limited | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 21, 2024, 1:30 PM CDT Iran has appointed a new oil minister, Mohsen Paknejad, following a vote of confidence in parliament on Wednesday, Azerbaijan’s Trend news agency...Continue Reading

EU Slashes Proposed Tariffs on Tesla’s China-Made EVs | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Aug 21, 2024, 1:00 PM CDT The European Commission has announced the final results of its anti-subsidy investigation into Chinese electric vehicles, with Tesla receiving a...Continue Reading

EU Mulls Open-Ended Immobilization of Russian Assets | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Aug 21, 2024, 12:00 PM CDT The EU and G7 are...Continue Reading

Nigeria’s Massive Dangote Refinery Taking Less American Crude | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 21, 2024, 12:00 PM CDT Nigeria’s Dangote mega refinery is now poised to import the lion’s share of its feedstock from domestic sources for Q3, according to Bloomberg...Continue Reading

Oil demand by 2050 will be “well north” of 100 MMbpd and possibly exceed 110 MMbpd, CEO Greg Ebel said Tuesday in an interview at Bloomberg’s New York headquarters. That contrasts with an International Energy Agency projection that demand will decline to 97 MMbpd by mid-century. SourceContinue Reading

Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with provisional plans to bring back idled production starting in October, data last week from the International Energy Agency showed. SourceContinue Reading

Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. SourceContinue Reading

Greek Oil Tanker On Fire, Adrift in Red Sea As Gaza Talks Falter | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 21, 2024, 11:15 AM CDT A Greek-flagged oil tanker is on fire and drifting crewless in the Red Sea after coming under attack...Continue Reading

China Prods Pakistan to Ramp Up Security and Governance | OilPrice.com James Durso James D. Durso is the Managing Director of Corsair LLC, a supply chain consultancy. In 2013 to2015, he was the Chief Executive Officer of AKM… More Info Premium Content By James Durso – Aug 21, 2024, 11:00 AM CDT China is frustrated...Continue Reading