The 3 MW floating wind turbine will be located 2 km west of the Culzean platform, 220 km offshore Scotland. This turbine, expected to be fully operational by end 2025, will supply around 20% of Culzean’s power requirement, thereby reducing its GHG emissions. SourceContinue Reading

How China is Circumventing Sanctions to Buy Iranian Oil | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Aug 29, 2024, 12:00 PM CDT China’s imports of Iranian oil are set to reach a record 1.75 million barrels per day this month, defying...Continue Reading

It’s the latest round of cuts following similar moves in the company’s deal-making team, as well as low-carbon solutions, chemicals and offshore wind. The staff reductions would affect the company’s exploration, strategy and portfolio segment as well as its development, subsurface and wells business. SourceContinue Reading

Drillers have extended the horizontal length of their wells since the pandemic to three miles or more to squeeze more output from their sites. The longer so-called laterals are often credited with helping explorers deliver surprise production growth of 1 MMbpd last year. SourceContinue Reading

Marathon Oil Shareholders Approve Megadeal Conoco Acquisition | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 29, 2024, 11:30 AM CDT Shareholders in Marathon Oil have approved a ~$16 billion acquisition by ConocoPhillips, Marathon Oil said in a Thursday statement, with the deal expected to...Continue Reading

Shell To Slash Exploration Workforce by 20%: Reuters | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – Aug 29, 2024, 11:00 AM CDT Reuters: Shell plans to reduce its oil and gas exploration and development staff by 20%. The new cuts follow Shell’s earlier moves to...Continue Reading

Lukoil’s Net Profit Rises on Higher Oil Sales | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 29, 2024, 10:30 AM CDT Lukoil booked a net profit of $6.4 billion (590.2 billion Russian rubles) for the first half of 2024, up by 4.6% from a...Continue Reading

CNOOC Expects Oil Prices to Remain Rangebound Between $75 and $85 | 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 – Aug 29, 2024, 10:00 AM CDT CNOOC forecasts oil prices to remain...Continue Reading

Pipeline Politics Is Forcing Kurdistan to Sell Oil at a Discount | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 29, 2024, 9:30 AM CDT Crude oil production in Iraq’s semi-autonomous region of Kurdistan is currently about 350,000 barrels per day (bpd), but it all...Continue Reading

China Is Rethinking Its Russian Pipeline Plans | OilPrice.com Eurasianet Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… More Info Premium Content By Eurasianet – Aug 29, 2024, 9:00 AM CDT China appears to be reconsidering the Power...Continue Reading