News / International
Aramco Starts Production of Tight Gas in South Ghawar Operational Area
Aramco has announced the production of the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule, which further supports Aramco's strategy to increase gas production by more than half over the next decade, subject to domestic demand.
ExxonMobil Starts Production at 3rd Offshore Guyana Project
ExxonMobil has announced the start of production at Payara, Guyana's third offshore oil development on the Stabroek Block.
NIOC Signs $1.17B Contracts for Drilling Wells in South Pars Gas Field
The National Iranian Oil Company (NIOC) has signed four contracts with local firms, totaling $1.17 billion, for the drilling of 35 wells in the South Pars Gas Field. The contract is part of an initiative to enhance productivity and ensure the sustainable production of gas in the field.
Iran Boosts Oil Production by 30,000 bbl/d.
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.
US to Purchase 1.2M Barrels of Oil for SPR
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.
Canada Firm to Build $2.9B Green Hydrogen Project
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.
Iran Expands Oil Trade with Top Buyer China
China's oil imports from Iran have hit a record high as Iran ramps up output despite the threat of further US sanctions.
