Oil price news

The Energy Information Administration estimate that U.S. marketed natural gas production in the Lower 48 states (L48) will grow by 5% in 2023 and 2% in 2024.

Eni has announced the signing of an agreement with Oando PLC for the sale of Nigerian Agip Oil Company Ltd, the wholly Eni-owned subsidiary focusing on onshore oil and gas exploration and production in Nigeria, as well as power generation.

The reinvestment rate of US shale oil producers has hit its highest level in three years in the 2Q23, but the recent trajectory will not last, according to Rystad Energy research.

Southeast Asia's renewable investment to top US$76 billion by 2025, boosting energy independence and competitiveness.

SFL has announced that it has signed a drilling contract in Canada with a value of approximately US$100 million.

Chesapeake Energy Corporation has announced that it has executed an agreement to sell its remaining Eagle Ford assets to SilverBow Resources, Inc. for US$700 million.

Crude pricing could rise further into autumn, but demand growth could slow dramatically next year, according to the International Energy Agency (IEA).

EIA expects new milestones for US crude oil production amid sustained global petroleum demand and rising prices.

Wood has been awarded an offshore contract extension worth US$250 million by Brunei Shell Petroleum.

A project to expand the Marjan field in Saudi Arabia is expected to increase oil and gas production.