(Bloomberg) --Higher natural gas prices and lower shipping rates are increasing the draw of U.S. liquefied natural gas cargoes to Europe over more traditional winter markets in Asia. As of Thursday afternoon, there were 41 U.S. LNG cargoes with either declared destinations in Europe or on a likely path to the natural gas-starved continent, compa...
TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100 days, with work expected to commence in March 2022 in direct continuation of the rig’s previousl...
CALGARY (Bloomberg) --Exxon Mobil is looking to sell its Canadian shale assets to focus on Alberta’s oil sands. Exxon and its majority-owned Imperial Oil Ltd. unit will start marketing XTO Energy Canada, which produces 9,000 barrels a day of crude and 140 million cubic feet a day of natural gas in the Montney and Duvernay shale formations of A...
(Bloomberg) --Libya’s oil production is rising gradually after a blockade of its western fields ended and ports in the east re-opened, according to the OPEC member’s energy minister. Output is 963,000 barrels a day, Mohammed Oun said in a response to questions from Bloomberg on Thursday. Production has fluctuated significantly since mid-D...
SINGAPORE (Bloomberg) --The world’s physical oil market is running hot, offering a boost to bulls. Prices for cargoes reaching oil refineries in Asia in two or three months’ time have been rallying strongly all over the world so far this year. The time lag between when those shipments are purchased and when they’ll reach the world’s t...
(Bloomberg) --Just weeks after Royal Dutch Shell Plc was forced by a court to suspend a seismic survey seeking hydrocarbons in South African waters, activists are looking to block another such program. The groups, which include fishing communities, have warned Searcher Seismic, a company planning to collect data off the west coast of the country...
CALGARY (Bloomberg) --Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said. The country seeks to remain “a major global oil and gas supplier” beyond 2050 even as countries, including Canada itself, push...
(Bloomberg) --Equinor ASA will make a $1.8 billion impairment on its Mariner field after slashing reserve estimates for the U.K. North Sea oil deposit. The Norwegian company cut total recoverable reserves to about 180 million barrels from a previous estimate of 275 million barrels, it said on Wednesday. The revision is linked to an updated inter...
(Bloomberg) --Environmental activists in Argentina are trying to prevent new oil exploration in the resource-rich South American nation just days after forcing a governor in Patagonia to reverse course on silver mining. The government has been lobbying the case for drillers to search for oil in the Atlantic Ocean ever since protests last week in...
(Bloomberg) --China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties to scoop up cheap oil. Crude processors in the world’s biggest importer were observed to have bought 324 million barrels from Iran and Venezuela in 2...