Oil & gas news
Almost 30% of the Gulf of Mexico's oil now shut-in as Hurricane Helene looms
It was reported earlier this week that several US oil companies were working to evacuate their staff from oil production platforms.
US crude oil stocks fall more than expected, reversing previous small rise
US crude oil inventories fell by more than expected in late September, dropping by 4.34 million bbl, reported the American Petroleum Institute (API).
Shell selected as preferred bidder for Trinidad and Tobago's shallow water block
The company emerged victorious over competing bids from industry giants bp and EOG Resources.
Aramco raises US$3 billion in debt sale as Saudi Arabia drops US$100/bbl oil price
Saudi Arabia is preparing to increase its oil output to regain its market share, with abandoning its required oil price part of the plan.
Major energy companies jostle for India's OALP-9 bidding round
Multiple energy companies, both domestic and international, have submitted bids for the ninth round of India's Open Acreage Licensing Policy (OALP-9), as confirmed by the Directorate General of Hydrocarbons (DGH), the country's upstream regulator.
Reuters: FTC set to greenlight Chevron's US$53 billion buy of oil rival Hess, sources say
Reuters has reported that the US Federal Trade Commission is expected to greenlight US oil producer Chevron's purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil's challenge to the US$53 billion deal as its final hurdle.
Expected growth in the developing world sees OPEC raise oil demand outlook
The oil body said there "has been further recognition that the world can only phase in new energy sources at scale when they are genuinely ready”.
DNO confirms size of Heisenberg oil and gas discovery
DNO ASA, the Norwegian oil and gas operator, announced the completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB.
Reuters: Storm Helene's eastward tack eases pressure on offshore US oil
Reuters has reported that Tropical Storm Helene was expected to turn eastward on its track through the Caribbean and into the Gulf of Mexico, increasing the threat of high winds and heavy rains to Cuba and Florida but lessened the risk to US offshore oil production, forecasters said.
Caterpillar Oil & Gas: operators reduce diesel use by 100 million gallons
Caterpillar Oil & Gas has announced that North American pressure pumping operators using its Tier 4 DGB system reduced diesel consumption by approximately 100 million gallons in 2023.