What's Affecting Oil Prices This Week? (Sept. 16, 2024)
With expectations for more favorable supply/demand fundamentals and improvement in the sentiment of oil traders, Stratas Advisors forecast higher oil prices with the price of Brent crude moving back above $80.
What's Affecting Oil Prices This Week? (Sept. 9, 2024)
Within the context of lower oil prices and disappointing economic data, members of OPEC+ have decided to delay the unwinding of voluntary cuts, which were expected at the end of September.
Libya's Oil Output Falls More Than Half Due to Political Standoff
More than half of Libya's oil production, or about 700,000 bbl/d, was offline on Aug. 29 and exports were halted at several ports as a standoff between rival political factions over the central bank and oil revenue threatens to end a four-year period of relative peace.
Geospace Technologies Sells Seismic Data Nodes to SAExploration
SAExploration exercised its purchase option from an existing rental contract to make the purchase of seabed ocean bottom wireless seismic data acquisition nodes.
From Exxon to APA, E&Ps Feel Need to Scratch Exploration Itch
Exxon Mobil is looking for its “next Permian,” which an executive said could be in Algeria.
E&P Highlights: Aug. 26, 2024
Here’s a roundup of the latest E&P headlines, with Ovintiv considering selling its Uinta assets and drilling operations beginning at the Anchois project offshore Morocco.
Hirs: Peak Oil Demand—Where Upstream Diverges from Downstream
The impact of peak oil demand is the same regardless of the sliding timelines published by the experts.
The EPC Market Keeps Its Head Above Water
While offshore investments are rising, particularly in deepwater fields, challenges persist due to project delays and inflation, according to Westwood analysis.
TotalEnergies Exits from Offshore South Africa Blocks
TotalEnergies’ departure comes after partner CNR International also withdrew from the same blocks.
CEO: Baker Hughes Lands $3.5B in New Contracts in ‘Age of Gas’
Baker Hughes revised down its global upstream spending outlook for the year due to “North American softness” with oil activity recovery in second half unlikely to materialize, President and CEO Lorenzo Simonelli said.