Oil & gas news
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.
Challenger Energy's disposal of Uruguay's offshore license approved
Challenger, with primary assets in the South American nation, has now received government approval to move the AREA OFF-1 licence to Chevron.
Will oil prices rise amid escalating geopolitical tensions and fears of a global economic slowdown?
Read today's market analysis on behalf of Rania Gule, Senior Market Analyst, XS.com
Reuters: oil climbs on China stimulus, Middle East conflict and hurricane risk
Reuters reported that oil prices rose on news of monetary stimulus from China while another hurricane threatened supply in the US.
EIA: Decline in natural gas price drove decrease in US oil producer revenue in early 2024
The US Energy Information Administration reports that cash from operations in 1Q24 has decreased due to lower natural gas prices.
SOCAR and partners sign addendum for ACG field gas exploration and production
The addendum is for the Azeri-Chirag fields and the deepwater portion of the Gunashli field (ACG) in the Azerbaijan sector of the Caspian Sea.
IEA, UNEP, and EDF announce comprehensive metrics to report action and measure progress by oil and gas companies on methane commitments
With methane emissions at near record levels, the IEA, UNEP and EDF have unveiled a new framework to report progress in reducing emissions by oil and gas companies.