Oil price news

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.

Rig demand is expected to increase 20% from 2024 – 2025, meaning rates are up 40% from the past year.

The new technology is a result of a collaborative research and development project with Net Zero Technology Centre and Spirit Energy.

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.

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.

Over 80% of the contract value will flow back into the UAE’s economy under ADNOC’s in-country value programme.