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Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
30-12-2024

Petrobras Informs About New Law for the Oil and Gas Sector
Petrobras informs that the Brazilian government enacted Law 15,075/2024, dated December 26, 2024, which addresses the possibility of transfer of local content surpluses among contracts in exploration and production of oil and natural gas, in accordance wi
Oil&Gas Drilling
30-12-2024

ExxonMobil to Begin Drilling in Cyprus’ EEZ in January 2025
ExxonMobil’s drilling rig is set to begin operations in Cyprus’ Exclusive Economic Zone (EEZ) in mid-January 2025, according to Energy Minister George Papanastasiou. The rig will target the "Electra" site in Block 5, with the
Oil&Gas Drilling
27-12-2024

Petrobras to Keep Constellation’s Semi-sub Rig Under $61M Contract Extension
(OE) Offshore drilling contractor Constellation has secured an extension of the current contract for its semi-submersible drilling rig Atlantic Star with Petrobras, worth up to $61 million.The contract extension is for an additional period of up to 301 da
Oil&Gas Drilling
27-12-2024

TotalEnergies Adds More Time to Northern Drilling Semisub Deal
French energy major TotalEnergies has exercised an extension option for Northern Drilling’s semisub Deepsea Mira.John Fredriksen-controlled Northern Ocean, a semisub rig spin-off of Northern Drilling, won the extension back in August. The rig, m
Oil Price
27-12-2024

Oil Prices Ease as Markets Weigh China Stimulus Hopes
Oil edged lower on Thursday in light holiday trade as the dollar's strength offset hopes for additional fiscal stimulus in China, the world's biggest oil importer.Brent crude futures settled down 32 cents, or 0.43%, at $73.26 a barrel. U.S
Oil Price
27-12-2024

Azerbaijani Oil Price Once Again Exceeds $75
The price of Azerbaijani crude oil has once again surpassed $75 per barrel.A barrel of Azeri Light crude rose by $1.11, or 1.49%, reaching $75.37 on Wednesday.The lowest price ever recorded for Azeri Light was $15.81 per barrel on April 21, 2020, while it
Oil Refinery
27-12-2024

NLC Hails Dangote Refinery for Fuel Price Cut
The Nigeria Labour Congress has commended Dangote Refinery for its recent reduction in fuel prices, describing it as a timely economic relief for Nigerians.Speaking with journalists on Tuesday, Funmi Sessi, the NLC Chairman for Lagos Council, noted that t
Crude Oil
27-12-2024

RON97 Petrol Price Up By 3 Sen; RON95 And Diesel Unchanged
The retail price of RON97 petrol will increase by 3 sen to RM3.25 per litre, effective Dec 26, 2024, to Jan 1, 2025, according to the government.Meanwhile, RON95 petrol remains at RM2.05 per litre, with diesel prices unchanged at RM2.95 per litre in Penin
Oil Exploration
27-12-2024

Onshore Petroleum Auction Set to Be Held
Authorities are calling for bids for onshore petroleum exploration and production in nine areas in the Northeast and central region for the first time in 17 years to increase domestic petroleum supply.This Round 25 auction is expected to lead to long-term
Natural Gas
27-12-2024

KazMunayGas and CNOOC Joining Forces to Dig Deeper Into Geological Exploration
KazMunayGas and CNOOC are expanding their cooperation in geological exploration, discussing key aspects of bilateral collaboration, including the joint implementation of the "Zhylyoi" project, Trend reports.A meeting took place between Chairman
Natural Gas
29-12-2024

Gas Exploration Firm’s Licence Extended Again
A company looking to extract gas from Manx territorial waters has had its exploration licence extended once more.A two-month extension has been granted to Crogga Limited's Seaward Production Innovative Licence, which it first obtained in 2018.The
Natural Gas
29-12-2024

Gazprom Greenlights $15 Billion Investment Plan to Bolster Gas Production Capacity
The board of directorates of Russia’s giant Gazprom has given its seal of approval for the firm’s projected investment program and budget for next year, which is set at RUB 1.52 trillion (almost $15.22 billion), a drop of about 7% comp
Russian
29-12-2024

Krasnodar Declares Regional Emergency as Black Sea Oil Spill Cleanup Stalls
Authorities in southern Russia’s Krasnodar region have declared a regionwide state of emergency as cleanup efforts for an oil spill along the Black Sea coast stall.The spill occurred on Dec. 15 after two Russian-flagged oil tankers were damaged
Natural Gas
29-12-2024

US Natgas Prices Hit 23-Month High on Increased LNG Feedgas, Heating Demand
US natural gas futures hit a 23-month high on Tuesday in thin pre-holiday trading, supported by an increase in the amount of gas flowing to liquefied natural gas export plants, and forecasts for more cold weather in January than previously expected.Front-
Oil Shale
29-12-2024

Iran Pioneers Shale Oil Extraction Technology to Achieve Energy Independence
In a groundbreaking achievement, Iranian researchers have developed innovative technology to extract shale oil from reservoirs. This is reported by Mehr News Agency, a partner of TV BRICS.For the first time in Iran, the team successfully utilised toxic co
LNG
28-12-2024

Golar LNG Buys Remaining Stake in Flng Unit for $90M
Floating liquefied natural gas (FLNG) specialist Golar LNG has acquired minority ownership interests in the 2.4 mtpa FLNG Hilli from Seatrium and Black & Veatch.The acquisitions comprise all third-party interests in the asset, including 5.45% common u
Natural Gas
28-12-2024

Santos’ Hook-up of New Well to Existing Gas Hub Offshore Australia Gets the All-Clear
Australian energy player Santos has received the thumbs-up for its revised environment plan (EP) from the country’s offshore regulator, which will enable it to bring online a new well off the coast of Australia to bolster gas production from exi
Russian
28-12-2024

Global Oil Demand to Gain 1-1.5 Mbd in 2025
Russia expects growth of global oil demand in 2025 to reach from 1 mln barrels per day (mbd) to 1.5 mbd, Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 TV channel."Overall we expect this year’s demand on glob
Crude Oil
28-12-2024

Oil Firms in Iraqi Kurdistan Demand Compensation of $24 Billion
Nine oil companies operating in the Kurdistan region of Iraq requested compensation of $24 billion because of the suspension of oil exports through Turkey.Economic expert Nabil Al-Marsoumi revealed on Monday that the Iraqi judiciary denied the Iraqi Minis
Oil Exploration
26-12-2024

ACREP to Start Exploration in Angola’s Cabinda Norte Block In 2025
Angolan upstream firm ACREP plans to begin oil exploration in the onshore Cabinda Norte Block in Angola in 2025. The aim is to identify and unlock the economic viability of the block.ACREP will conduct feasibility studies to evaluate the potential product
Oil Exploration
26-12-2024

Occidental Petroleum’s Subsidiary Secures Oil and Gas Permit off Colombia
Colombia's national environmental licensing agency (ANLA) on Friday said it has awarded an environmental license to Anadarko Colombia Company, a subsidiary of Occidental Petroleum, to carry out oil and gas exploration in the country's Cari
Oil&Gas Drilling
26-12-2024

Vår Energi Granted License to Drill North Sea Exploration Well
Vår Energi ASA has been granted a permit by the Norwegian Offshore Directorate to drill in the North Sea.Exploration well 7/1-3 will be drilled in production license 1090 in January 2025 utilizing the COSLPioneer semisubmersible drilling rig.Vå
Natural Gas
26-12-2024

Kuwait’s Petroleum Exploration Firm Begins Withdrawal From Pakistan
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has begun its exit from Pakistan’s oil and gas sector, citing extensive circular debt and prolonged policy delays by the government.The News International reported, quoting official sources f
Iran
26-12-2024

Iran Set to Slash Fuel Subsidies in Sensitive Move
Iran is due to ease fuel price subsidies, according to documents reviewed by Iran International, in a politically sensitive move likely approved by the country's top leadership which is due to deepen economic pain.Costs of living are soaring in Ir
Oil Price
26-12-2024

Oil Prices up in Thin Pre-christmas Trade
Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer.Brent crude futures were up 33 cents, or 0.45%, to $

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Oil Prices Post 3% Annual Decline