SINGAPORE (Bloomberg) --Surging demand, fading omicron fears, and OPEC+’s inability to ramp up output have underpinned an eye-watering rally in oil prices. Global benchmark Brent crude has jumped 25% to around $88 a barrel since the end of November. Some in the market now think it’s now a question of when -- not if -- oil hits triple digits,...

Maersk Drilling has been awarded a contract with TotalEnergies E&P Danmark which will employ the high-efficiency jack-up rig Maersk Reacher for well intervention services in the Danish North Sea. The contract is expected to commence in July 2022, with a duration of 21 months. The contract includes options to extend the duration by up to 27 addi...

LONDON (Bloomberg) --OPEC and its allies are increasing oil production but can’t solve all the sector’s issues alone, the United Arab Emirates’ energy minister said. The industry needs investment, through the involvement of international oil companies, in order to provide adequate supplies, Suhail Al-Mazrouei said, according to the UAE’s...

Ghana’s state-owned oil company is progressing with plans to sell liquefied natural gas throughout West Africa after shipments of the fuel begin to flow to an import terminal this year. Tema LNG Terminal Co. is expected to start commercial operations at the plant in the second quarter and can help create an energy hub for the region, Hamis Uss...

LONDON (Bloomberg) --The oil market is getting tighter and there may be even less slack in the system than forecasts suggest. The latest outlooks from the International Energy Agency and the U.S. Energy Information Administration show the world needing more oil this year from the members of the Organization of Petroleum Exporting Countries than...