The implementation of new projects in southern Iran has resulted in an increase of approximately 30,000 barrels per day (bbl/d) in the country's oil production, despite US sanctions aimed at curbing oil exports and the associated revenue for Iran’s government.
The US Energy Department has announced on Monday that it plans to buy 1.2 million barrels of oil in order to replenish the Strategic Petroleum Reserve (SPR). This comes after the largest-ever sale of 180 million barrels from the reserve last year. The purchase will be made at an average price of $77.57 per barrel from two companies, following the submission of 18 bids.
Montreal-based renewable energy firm, TES Canada H2 will build a C$4 billion ($2.9 billion) green hydrogen project in Quebec, Canada, according to Reuters.
China's oil imports from Iran have hit a record high as Iran ramps up output despite the threat of further US sanctions.
bp has announced the start of production at the Seagull oil and gas field in the UK North Sea, boosting energy supplies along with supporting the supply chain and jobs in the region.
Eni and Saipem have signed an agreement to support the transformation of traditional refineries and the establishment of new biorefineries by Eni. The agreement was signed on Monday by Giuseppe Ricci, Chief Operating Officer for Energy Evolution at Eni, and Alessandro Puliti, Chief Executive Officer at Saipem.
Equinor, an international energy company headquartered in Norway, has announced on Monday a gas discovery near the Gina Krog field in the North Sea with an estimated recoverable volume between 5 and 16 barrels of oil equivalent (boe).
Edison International has announced its third-quarter net income of $155 million, or $0.40 per share, compared to net loss of $128 million, or $0.33 per share, in the third quarter of last year.
