Category Archives: News

(WO) – Iran suffered an oil leak just a few miles from Kharg Island, its top export terminal in the Persian Gulf, according to the semi-official Tasnim news agency, citing a local shipping official. Tasnim’s report gave no information on the cause of the incident, which led to two slicks in the affected area, or […]

CAPE TOWN, Oct 9 (Reuters) – South Africa’s liquefied petroleum gas (LPG) business is poised for a boom, industry executives say, as new distribution hubs, rising power prices and a shift away from dirtier charcoal and paraffin stoves boost demand. State-owned power utility Eskom’s plan to raise next year’s electricity tariff by 36%, the latest […]

(WO) – CNOOC Limited announced that the Liuhua 11-1/4-1 oil development offshore China has commenced production. The project is located in eastern South China Sea and consists of two oil fields, Liuhua 11-1 and Liuhua 4-1, with an average water depth of approximately 305 m. The main production facilities include a new deep water jacket […]

(Bloomberg) – Total Energies SE is assembling a fleet of Deepwater rigs, support vessels and drilling crews offshore Suriname in the clearest sign yet that it’ll move forward with a historic oil development.  Although the French supermajor hasn’t formally greenlit the $9 billion development of crude discoveries in the Latin American nation, it’s already seeking […]

(WO) – According to the Norwegian Offshore Directorate, Equinor and its partners have made an offshore oil and gas discovery in wildcat wells 15/3-13 S and 15/3-13 A. The wells are part of the North Sea’s Gundrun field. Drilling was carried out by the Deepsea Stavanger rig. Preliminary estimates place the size of the discovery between 0.1 […]

LONDON – OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s second consecutive downward revision. The weaker outlook further underscores the challenge faced by OPEC+, which comprises the Organization of the Petroleum […]