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(Reuters) - Bulls have surged into the U.S. crude oil options market in recent days as futures touch highs not seen in a decade, betting that crude's rally will persist, according to analysts and exchange data. The global oil market was already tight even before Russia invaded Ukraine last week, which has since sent benchmark... Continue Reading →
Credit ratings agency Moody’s has placed ratings of German oil and gas company Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for additional, more severe sanctions against Russian businesses to affect the company’s operations and credit profile. According to Moody’s statement on Thursday, the decision to place Wintershall Dea’s... Continue Reading →
(Upstream) Five of seven lease auctions planned by the US Bureau of Ocean Energy Management up to the end of the 2025 are expected to have opportunities for floating wind. Representatives of major offshore wind developers said that 80% of offshore wind potential is in the floating wind sector at the Floating Wind Solutions Conference... Continue Reading →
OneSubsea, the subsea technologies division of Schlumberger, has contracted Vallourec to supply upset riser joints for the Bacalhau project offshore Brazil. The contract was awarded on behalf of Subsea Integration Alliance, a strategic global alliance between Subsea 7 and OneSubsea. Under the contract, Vallourec will supply 3,000 metres of upset riser joints equipped with VAM... Continue Reading →
(Reuters) - Technip Energies (TE.PA) has renounced new business opportunities in Russia following its invasion of Ukraine, the head of the French oil and gas services provider said on Thursday, as its full-year margin guidance drove up shares. "We have ceased to work on future business opportunities in Russia," Arnaud Pieton said in an earnings statement, but... Continue Reading →
(Reuters) - Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has not taken a decision on fuel price adjustments, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. He said that after Russia's invasion of Ukraine, the oil market was "nervous" and with many doubts. "The world has plunged into a scenario of uncertainty," Luna told Reuters.... Continue Reading →
(Reuters) - Engineering firm Subsea 7 (SUBC.OL), a major supplier to the oil industry, has decided to pay a regular dividend and buy back stock as it swung to a full-year profit in 2021 and its outlook improved, the company said on Thursday. Subsea 7 said it "firmly" believed that the market recovery was underway based... Continue Reading →
Oil and gas company Azinam, soon to be acquired by Eco Atlantic, has hired Island Drilling's Island Innovator semi-submersible drilling rig to drill the Gazania-1 well offshore S. Africa. The news comes in the wake of the recent significant discoveries made by Shell and TotalEnergies in the Orange Basin in the nearby Namibia. The news of the... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday said it plans to have capacity to produce with partners 1.2 million barrels per day of oil and gas (boed) offshore of Guyana by 2027. That adds 200,000 boed of production capacity compared to a previous estimate by the consortia led by Exxon. The group produced 120,000 boed in... Continue Reading →
