Brent and WTI crude oil futures remained stable on the day April 8 but were headed for a decline on the week amid the US and IEA countries announcing emergency stocks releases. At 11:55 am BST, June ICE Brent crude futures were down 43 cents/b on the day at $100.15/b, while May NYMEX WTI futures […]
OIL FUTURES: Crude oil prices to decline on week amid stocks releases Read More »
Questioned by U.S. lawmakers this week, chief executives from the nation’s biggest oil companies took great pains to explain why they haven’t raised production fast enough to tame skyrocketing energy prices. For Shell Plc’s highest-ranking U.S. manager, Gretchen Watkins, the answer was 1,600 miles (2,600 kilometers) southwest of Capitol Hill, floating in a shipyard near
Offshore accommodation rig provider Prosafe has won a bidding process for a four-year contract with Petrobras for the supply of a semi-submersible vessel for safety…
Prosafe Wins Petrobras Tender for Accommodation Rig Supply Read More »
Shell said on Thursday it diverted $7 billion of its cash flows partly to cover hefty oil and gas margin calls, becoming the first company to publicly acknowledge the pressure commodities traders have faced in 2022 from extreme price rises and volatility. Shell, together with other majors, utility companies, trading houses and banks, signed a
Shell blames oil, gas margin calls for billions in cash outflows Read More »
April 7, 2022 The International Energy Agency (IEA) on Thursday confirmed member country contributions to the second collective action to release oil stocks in response to Russia’s invasion of Ukraine. The commitments submitted by members reached 120 million barrels to be released over a six month period, the IEA added. The U.S. will release 60
IEA to release 120 million barrels over six month period Read More »
Austrian energy group OMV said on Friday it would take a 2-billion-euro ($2.17 billion) hit in the first quarter of this year from its business in Russia as it seeks…
Austrlia's OMV Takes $2.17B Hit from Russia Business Read More »
Austrian energy group OMV said on Friday it would take a 2-billion-euro ($2.17 billion) hit in the first quarter of this year from its business in Russia as it seeks…
Austria's OMV Takes $2.17B Hit from Russia Business Read More »
Rigzone’s regular market watchers focus on oil price trends, U.S. Strategic Petroleum Reserve concerns, U.S. crude production and more.
Oil Prices Fall This Week as Supply News Takes Center Stage Read More »
CNOOC Limited has started production from the Weizhou 12-8E oilfield development project located offshore China. The post CNOOC starts up oilfield project in South China Sea appeared first on Offshore Energy.
CNOOC starts up oilfield project in South China Sea Read More »
Neptune Energy and its partners have announced that gas production will be doubled from the Duva field in the Norwegian sector of the North Sea.
Neptune Doubling Duva Gas Output To Quench European Thirst Read More »
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