To finalize the deal, however, Chevron and Hess still need to prevail in arbitration against Exxon Mobil Corp. and Cnooc Ltd., who claim a right-of-first-refusal on Hess’ biggest asset — a 30% stake in a massive oil field offshore Guyana. The case, currently being administered by the International Chamber of Commerce, is likely to be...Continue Reading
Afghanistan’s Taliban Government Aims for BRICS Membership | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Sep 27, 2024, 4:00 PM CDT The Taliban government in Afghanistan has expressed interest in joining the BRICS economic bloc, comprising Brazil, Russia, India, China, and South...Continue Reading
By City A.M – Sep 27, 2024, 2:00 PM CDT UK car production fell by 8.4% in August compared to the same month last year, with a total of 41,271 new cars leaving production lines. The decline is attributed to a combination of factors, including summer shutdowns, factories preparing for new models (primarily electric), and...Continue Reading
The supermajor is working on developing the deepwater Owo project, Nigerian Vice President Kashim Shettima said after meeting Exxon Nigeria chairman Shane Harris. The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. SourceContinue Reading
The main production facilities include a new fixed production platform and three centralized subsea wellheads, with 12 development wells planned to be commissioned. It is expected to reach peak production of 162 MMcfgd and 3,931 bpd in 2025. SourceContinue Reading
The Onshore Block 2, located within the Al Dhafra region of Abu Dhabi covering an area of over 7300 km2, is PETRONAS Abu Dhabi’s third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022. SourceContinue Reading
TotalEnergies has signed an agreement with Lewis Energy Group to acquire a 45% interest in dry gas producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas. SourceContinue Reading
The supermajor is working on developing the deepwater Owo project, Nigerian Vice President Kashim Shettima said after meeting Exxon Nigeria chairman Shane Harris. The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. SourceContinue Reading
U.S. Oil Drilling Sags: Baker Hughes | 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 – Sep 27, 2024, 12:16 PM CDT The total number of active drilling rigs for oil and gas...Continue Reading
Crude prices are seeing a sharp rise today, with WTI trading at $68.52 per barrel, up 1.26%, and Brent crude at $72.27 per barrel, up 0.94%. These gains are driven primarily by escalating tensions in the Middle East, particularly the intensifying conflict between Israel and Hezbollah. This volatility is prompting fears of further disruptions to...Continue Reading
