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Saudi Arabia Likely to Extend Additional Supply Cuts to Q1 2024
Brent prices slipped just under $82/bbl on Nov. 15, depressed by concerns about economic growth and demand, despite support from supply cuts by OPEC and its allies and conflict in the Middle East.
Petrobras Debt Continues to Snowball
Brazil’s Petrobras said its gross long-term debt reached $61 billion in the third quarter, which marks the first time the state-owned company’s debt has passed the $60 billion threshold since second-quarter 2021.
Exxon Mobil Aims to Start Lithium Production by 2027
The move comes as the energy company, most known for its oil production and chemicals business, works to establish itself as a leading supplier for EVs by 2030.
What's Affecting Oil Prices This Week? (Nov. 13, 2023)
For the upcoming week, Stratas Advisors forecast during the fourth quarter that oil demand will outpace supply by around 900,000 bbl/d.
Exxon Mobil Completes $1.26B Purchase of FPSO Liza Unity
The purchase allows Exxon Mobil Guyana Ltd. to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO until 2033.
Shell Sues Greenpeace After Activists Boarded Oil Vessel
Shell is suing Greenpeace for $2.1 million in damages after the environmental group's activists boarded the company's oil production vessel in transit at sea this year.
Excelerate Energy, PetroBangla Sign LNG Agreement
PetroBangla has agreed to purchase between 0.85 mtpa to 1 mtpa of LNG from Excelerate for a 15-year term beginning January 2026.
PGS Awarded Exploration Contract in Mediterranean
PGS’ contract has a total duration of approximately 160 days.
Portuguese PM Quits Over Lithium, Hydrogen Corruption Probe
Hours after prosecutors detained his chief of staff, Portuguese Prime Minister Antonio Costa resigned amid alleged corruption in his administration's handling of lithium mining and hydrogen projects.
APA Corp. Focused on Shareholder Value, Adds Sixth Permian Rig
Amid an all-stock buying bonanza in recent weeks spurred on by Exxon Mobil and Chevron to snatch up shale and international assets, APA remains focused on creating value.