Russian Upstream Investments Projected to Plunge

Industry Headlines

Russian Upstream Investments Projected to Plunge
Friday, December 02, 2022'The financial impact of Western sanctions and the widescale exodus of foreign partners from the Russian oil and gas sector are beginning to materialize'.

Oil Continues Four Day Rally
Thursday, December 01, 2022Oil futures rose with China further easing Covid restrictions and the US considering a pause in sales from its strategic reserves.

Maduro Calls for More Sanctions Relief After Chevron License
Thursday, December 01, 2022Venezuela President Nicolas Maduro urged the U.S. to ease more sanctions on the country's beleaguered oil industry.

Gasoline Price Drops Below $3.50 for 1st Time Since February
Thursday, December 01, 2022The average price of gasoline dropped below $3.50 a gallon for the first time since February.

New Series The Rig Gets Release Date
Thursday, December 01, 2022A trailer for the series has also been published.

House Passes Legislation to Avert Rail Shutdown
Thursday, December 01, 2022The threat of the rail strike was identified as a short-term supply risk in Rystad Energy's latest North America gas and LNG market update.

North Sea Decom Over Next Decade To Cost Around £20Bn
Thursday, December 01, 2022Decommissioning of North Sea oil and gas installations in the next decade will cost around £20 billion, Offshore Energies UK claims.

Case For Another Significant OPEC+ Cut is Weak
Thursday, December 01, 2022The case for another significant OPEC+ cut similar to October's is weak.



Offshore Norway Sees Discoveries and Dusters Over the Last Month
Wednesday, November 30, 2022It's been a mixed bag in terms of oil and gas exploration offshore Norway over the past month or so.

Perenco Hits Oil At Tchnem Well In Congo
Wednesday, November 30, 2022Perenco Congo has struck oil at the Tchnem1-01 well in the Tchibeli North East prospect on the PNGF Sud license, in Congo.

BOEM to Offer 958K Acres Off Alaska Coast in New Lease Sale
Tuesday, November 29, 2022The sale will offer for lease 193 blocks in the northern part of the Cook Inlet Planning Area in federal waters.

CGX, Frontera Complete Preparations For Well Spud Off Guyana
Tuesday, November 29, 2022CGX Energy and Frontera Energy have completed final preparations ahead of the Wei-1 well spud, located in the Corentyne block off Guyana.

Shell Starts Drilling High-Impact Gas Well Off UK
Thursday, November 24, 2022Shell has started drilling operations on a high-impact gas prospect in the North Sea using a Noble-owned rig.

Eco Atlantic Hits Dust at Gazania-1 Well off South Africa
Monday, November 21, 2022Eco Atlantic has hit target depth at the Gazania-1 well offshore South Africa.



Canadian Oil Giant Plans to Pump Record Crude Next Year
Thursday, December 01, 2022Canadian Natural Resources Ltd is aiming to raise production.

BP Starts Production From Cassia C Platform Off Trinidad
Tuesday, November 29, 2022BP's subsidiary BP Trinidad and Tobago has confirmed that its Cassia C development has safely delivered first gas.

OPEC+ Seen Considering Deeper Output Cuts
Tuesday, November 29, 2022OPEC and its allies are expected to consider deeper supply curbs.

IOG Restarts Saturn Banks Phase 1 Production
Monday, November 28, 2022IOG has resumed production at the Saturn Banks 1 assets following the completion of shutdown activities.

Chevron to Resume Venezuela Oil Output
Monday, November 28, 2022The Biden administration granted Chevron Corp. a license to resume oil production in Venezuela.

First French Offshore Wind Farm Fully Functional
Thursday, November 24, 2022France's first commercial-scale offshore wind project, the 480-megawatt Saint-Nazaire Offshore Wind Farm, is now fully operational.


Finance and Investing

TotalEnergies To Cut £100M In 2023 North Sea Investments
Friday, December 02, 2022TotalEnergies' North Sea business chief said that the French firm would cut investment by a quarter next year due to the UK Government's windfall tax.

Ithaca Posts $1.39Bn Profit For First Nine Months Of 2022
Thursday, December 01, 2022Ithaca Energy has posted a profit after tax of $1.39 billion for the first nine months of 2022 with a production of 68.2 thousand boe/d.

Seadrill Tightens Loss In Q3
Thursday, December 01, 2022Seadrill Limited has tightened its loss quarter-on-quarter backed by high utilization levels in Q3.

Ghana in Talks With Dubai Oil Refiner to Barter Gold for Fuel
Monday, November 28, 2022'Starting next October, all our oil-product needs would be swapped for gold'.

Saudi Aramco Base Oil Gets Nod for $1B Riyadh IPO
Thursday, November 24, 2022Saudi Aramco Base Oil Co has received regulatory approval for an initial public offering in Riyadh.

USA Oil Futures Point to Oversupply for First Time This Year
Friday, November 18, 2022The US crude market's structure is signaling oversupply for the first time in almost a year.


Company Operations

Greece's Gastrade Joins Vertical Gas Corridor MoU
Friday, December 02, 2022Representatives of ICGB, Bulgartransgaz, DESFA, Gastrade, FGSZ, and SNTGN Transgaz have renewed the MoU on the implementation of the Vertical Gas Corridor.

Windcat Orders Hydrogen-Powered CSOVs From Damen
Thursday, December 01, 2022Windcat has ordered a series of hydrogen-powered commissioning service operation vessels from Damen Shipyards.

Valaris Extends Survival Equipment Maintenance Deal With Survitec
Thursday, December 01, 2022Valaris has renewed a service agreement with survival technology solutions provider Survitec championed for an additional three years.

CNOOC Pays $2Bn To Petrobras For Additional Buzios Stake
Thursday, December 01, 2022Petrobras has received nearly $2Bn for the transfer of an additional interest in the Buzios field to Chinese energy major CNOOC.

Eni Weighs Takeover of $5B Neptune
Wednesday, November 30, 2022Eni is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd, people familiar with the matter said.

Westwood Appoints New Director Of Hydrogen
Wednesday, November 30, 2022Westwood Global Energy Group, the specialist energy market research and consultancy firm, has appointed Joyce Grigorey as Director of Hydrogen.

Suncor To Keep Petro-Canada Retail Business
Wednesday, November 30, 2022Following a review, Suncor Energy has decided to retain and optimize the Petro-Canada retail business.