The contracts were signed for a total of five blocks, S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique. The total area is approximately 29,000 km2, with water depths from 500 to 2,500 m. SourceContinue Reading

Memorial Day Jet Fuel Demand Outshines Gasoline | OilPrice.com Josh Owens Josh Owens is the Content Director at Oilprice.com. An International Relations and Politics graduate from the University of Edinburgh, Josh specialized in Middle East and… More Info Related News By Josh Owens – May 27, 2024, 2:30 PM CDT Summer markets for refined oil...Continue Reading

Gold Remains a Haven in Times of Uncertainty | OilPrice.com City A.M CityAM.com is the online presence of City A.M., London’s first free daily business newspaper. Both platforms cover financial and business news as well as sport and… More Info Premium Content By City A.M – May 27, 2024, 2:00 PM CDT Gold’s status as a...Continue Reading

Russia Seals Nuclear Power and Gas Deal with Uzbekistan | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 27, 2024, 1:30 PM CDT During a visit to Uzbekistan on Monday, Russian President Vladimir Putin reportedly agreed to a deal to...Continue Reading

The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and...Continue Reading

Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over...Continue Reading

Georgia’s Car Re-Export Trade Faces Uncertain Future | 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 – May 27, 2024, 1:00 PM CDT Georgia’s re-export of cars to Russia and...Continue Reading

The well remains on schedule to begin drilling in June 2024 and is targeting 163 MMbbl of unrisked prospective oil resources or 843 Bcf of unrisked prospective natural gas resources based on the most recent prospective resources report. SourceContinue Reading

OPEC Remains Optimistic About Global Oil Demand | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 27, 2024, 12:30 PM CDT The global economy has been relatively resilient in recent months, which has led OPEC to continue to anticipate robust...Continue Reading

Oil Prices Jump as Europe Hints at June Rate Cuts | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – May 27, 2024, 12:00 PM CDT Oil prices increased over 1% on Monday due to speculation about rate cuts. The European Central...Continue Reading