Oil & Gas News

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Oil Rebounds as Traders Size Up Covid Threat

Industry Headlines

Crude Up as Traders Assess Omicron and SPR Releases Share your comments
Monday, November 29, 2021Oil rose sharply early Monday following the crash on Black Friday but fizzled late in trading as various market signals were assessed.

OPEC+ to Discuss Omicron Response This Week Share your comments
Monday, November 29, 2021Crude futures sank more than 10 percent in both London and New York on Friday amid fears that Omicron could hit demand.

Biden Says USA Gas Prices Will Drop Soon Share your comments
Monday, November 29, 2021Americans will see prices at the pump fall "before long".

CMA Refers CHC Deal for In-Depth Investigation Share your comments
Monday, November 29, 2021In September, CHC Helicopter Group announced the completion of its acquisition of Babcock International's offshore oil and gas aviation business.

North America Rig Count Rises Share your comments
Monday, November 29, 2021Six of the weekly additions came from the U.S. in the form of land rigs.

Saudi Energy Minister Not Concerned About Omicron Share your comments
Monday, November 29, 2021OPEC+ meets Thursday to decide on January output.

Noreco CEO Resigns With CFO Taking Acting Managing Director Role Share your comments
Monday, November 29, 2021The chief executive officer of Norway-based oil and gas company Noreco has decided to resign from the position.

Continued Oil Price Reduction Commentary Expected Share your comments
Monday, November 29, 2021Rigzone's regular energy prognosticators look at expected U.S. Government moves, OPEC+ reactions and more.

JX Nippon Selling UK Assets To NEO Energy For $1.7B Share your comments
Monday, November 29, 2021NEO Energy has expanded its portfolio with the acquisition of 100 percent of the share capital of JX Nippon Exploration and Production U.K. for around $1.7 billion.

Oil Rebounds as Traders Size Up Covid Threat Share your comments
Monday, November 29, 2021Brent rallied, climbing along with West Texas Intermediate, after the global benchmark posted the seventh largest ever dive in last week's final session.


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Exploration

Petrobras Hires Seadrill Rig Tandem For Buzios Field Work Share your comments
Friday, November 26, 2021Seadrill Limited has secured contracts for two of its rigs with Petrobras which are set to work on the Búzios field offshore Brazil.

OGA Says Continuing North Sea Exploration is Vital Share your comments
Thursday, November 25, 2021Continuing North Sea exploration is vital, according to the OGA.

Lukoil On The Money In Mexico With New Oil Discovery Share your comments
Wednesday, November 24, 2021Lukoil has made an oil discovery within the Yoti West structure at Block 12 offshore Mexico.

Borr Rig Spins Drill-Bit For Kistos In North Sea Share your comments
Tuesday, November 23, 2021Kistos has spudded the Q11-B appraisal well off the Netherlands using the Borr Drilling-owned Prospector-1 jack-up drilling rig.

COL Presidential Front Runner Would End Oil Exploration Share your comments
Monday, November 22, 2021Petro, a left-wing candidate in next year's presidential race, said he'd move Colombia away from an 'extractivist' economy based on fossil fuels.

Odfjell Rig To Stay With Neptune. New Wells Set For 2022. Share your comments
Monday, November 22, 2021Neptune Energy has extended a contract for the Deepsea Yantai drilling rig to include three additional wells in the Norwegian North Sea next year.


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Production

CNOOC Starts Up Production From Buzzard Phase II Share your comments
Monday, November 29, 2021CNOOC Limited has begun production from the Buzzard Phase II development, offshore the UK sector of the North Sea.

BP Starts Flowing Oil From Angolan Offshore Field Share your comments
Friday, November 26, 2021BP has started production at the Platina field in Block 18, which is located some 87 miles offshore Angola.

Columbus Reaches First Production Share your comments
Thursday, November 25, 2021Hydrocarbons from the C1z development well started flowing on November 24.

OPEC+ Urged to Relieve Artificial Tightness Share your comments
Wednesday, November 24, 2021The Organization of Petroleum Exporting Countries and its allies will meet next week to discuss production policy.

Shale Patch Sees Limited Impact from Biden Oil Release Share your comments
Wednesday, November 24, 2021Industry players generally agreed that the move will have a limited effect on lowering gasoline prices.

Total, Eni Ready to Invest Billions in Libya Share your comments
Tuesday, November 23, 2021Total will put $2 billion into Libya's Waha oil project, which will boost production by around 100,000 barrels a day.


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Finance and Investing

Traders Pile Into $70 Longer Term Crude Price Share your comments
Wednesday, November 24, 2021Oil traders are betting that longer-term crude prices could be set to spike.

Woodside Gives Green Light For Scarborough, Pluto Train 2 Share your comments
Monday, November 22, 2021Woodside has approved the investment for the Scarborough offshore gas project as well as the Pluto Train 2 development.

Biggest Oil Exporter Lures ESG Investors Share your comments
Thursday, November 18, 2021Saudi Arabia's plan to enter the market for green bonds marks a watershed moment.

Seadrill Picks New Board Members With Chapter 11 Emergence Nearing Share your comments
Thursday, November 18, 2021Seadrill Limited has revealed its new members of the board of directors as it prepares to emerge from Chapter 11 bankruptcy.

Exec Who Led Engine No 1 Exxon Campaign to Leave Share your comments
Tuesday, November 16, 2021Charlie Penner was in charge of Engine No. 1's active engagement practice.

RWE To Double Green Energy Capacity With $57B Investment Share your comments
Tuesday, November 16, 2021RWE has revealed its plans to invest $57 billion through 2030 to double its green energy capacity to 50 GW.


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Company Operations

Wood Bags Deal for Largest Turkey Gas Reserve Share your comments
Friday, November 26, 2021The Sakarya Gas Field has a confirmed capacity of 405 billion cubic meters, or 14 trillion cubic feet, of natural gas.

Shell Sees Major Potential for SAF in Asia Share your comments
Friday, November 26, 2021Alternative aviation fuel, which can be made from feedstocks including algae and cooking oil, is still a lot more expensive than traditional jet fuel.

VIDEO: Neptune Completes Seagull Manifold Installation Share your comments
Friday, November 26, 2021Working under the Neptune Energy Alliance Agreement, TechnipFMC undertook the construction activities on the development.

Halliburton Unit Hired to Plug Delta Spill Share your comments
Thursday, November 25, 2021Halliburton's Boots & Coots unit has been called in by independent producer Aiteo Eastern E&P Co. to contain a leak.

Chevron Venezuela Operations in Limbo Share your comments
Thursday, November 25, 2021The U.S. is leaving Venezuelan operations of Chevron Corp. at a standstill.

Standard Drilling Sells Vessel for $10MM+ Share your comments
Wednesday, November 24, 2021The sale of the vessel will result in a gain for Standard Drilling of gross $2.3 million.


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