Oil price news
Unity in development of an additive manufactured well control component
The new technology is a result of a collaborative research and development project with Net Zero Technology Centre and Spirit Energy.
GETI 2023: Surging fossil fuel prices make oil and gas sector top choice for energy workers
The seventh annual Global Energy Talent Index has revealed that the recent gas price crisis has transformed oil and gas into the most popular sector for energy workers to join and has sent salaries soaring above pre-pandemic levels.
CNOOC announces that the Baodao 21-1 gas field contains over 50 Billion cubic meters
Chinese governmental bodies reviewed the discovery and certified the proven in-place of natural gas and condensate oil at over 50 billion cubic metres and 3 million cubic metres respectively.
ADNOC Drilling awarded close to US$1 billion contract to further unlock UAE’s offshore energy resources
Over 80% of the contract value will flow back into the UAE’s economy under ADNOC’s in-country value programme.
TotalEnergies commits to a large-scale fuel price reduction programme until year-end for all of its service stations in France
From September 1 to November 1, TotalEnergies will lower its petroleum fuel prices sold in service stations by €0.20/litre compared to global market quotation prices, followed by a €0.10/litre reduction from November 1 to 31 December.
Rystad Energy: Total recoverable oil worldwide is now 9% lower than last year
According to Rystad Energy analysis, global recoverable oil now totals an estimated 1572 billion barrels, a drop of almost 9% since last year and 152 billion fewer barrels than 2021’s total.
Chevron Sanctions Ballymore Project in Deepwater US Gulf of Mexico
Low-cost tieback expected to add up to 75 000 bbl per day of oil production.
ExxonMobil to sell Romanian affiliate for more than $1 billion
The company has reached an agreement to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to government approvals.
Oil price forecasting and geopolitical risks
New geopolitical risk measure designed to gauge oil market sentiment and understand price beyond fundamental forecasts.
Rystad Energy suggests E&P companies will break previous records thanks to high oil and gas prices
The company’s research shows that total free cash flow (FCF), a company’s cash from operations after accounting for outflows and asset maintenance, will balloon to US$834 billion, a 70% increase from the US$493 billion profits in 2021.