OPEC+, the Group of leading oil producers, saw no need for further oil reductions despite lower-than-expected Chinese demand, but that the organization can always adjust its policy if necessary, according to Russian Deputy Prime Alexander Novak, Reuters reported
Wintershall Dea announced a stable operational performance for Q1 2023 when the company’s daily output recorded 318,000 barrels of oil equivalent (boe/d) for the quarter.
Minister of Petroleum and Mineral Resources Tarek El Molla confirmed the delivery of natural gas to more than 8 million housing units in nine years.
Gazprom, the Russian majority state-owned multinational energy corporation, is establishing unit in the Middle East, Reuters reported.
The surprising announcement of OPEC+ to implement voluntary production cuts of 1.66 million barrels per day from May until the end of the year could cause tightness in the second half of this year, according to Fatih Birol, Executive Director of the International Energy Agency (IEA).
Petrofac's released a recent report outlining some of the company's efforts to ensure sufficient liquidity to support its strategy.
Product lines Wingtack®, PolyBD® and Dymalink® developed by Cray Valley, a TotalEnergies affiliate, will be acquired by Pacific Avenue Capital Partners.
Harbour Energy, bp signed an agreement to develop the Viking CCS transportation and storage project.
Chevron announced that the Anchor semi-submersible oil platform, part of the company’s U.S. Gulf of Mexico offshore project, is near completion.
Despite OPEC+’s surprising announcement last weak about extra production cut of 1.16 million barrels per day from May for the rest of the year, Saudi Aramco will maintain the same crude volumes supply to several North Asian buyers, According to Several sources with knowledge of the matter.
