E&P Highlights: Jan. 23, 2023
Here’s a roundup of the latest E&P headlines including first gas from an Oman field and new contract awards from the past week in the upstream oil and gas industry.
China Reopening Spurs Record Inflows into Emerging Market Funds: BofA
Europe has also benefited from China's reopening, as well as recent declines in gas prices.
Oil Prices Rally to Highest Close Since Dec. 1 on China Optimism
Brent crude futures gained $1.18, or 1.4%, to settle at $86.16 per barrel, while WTI crude futures rose by $0.85 cents, or 1.1%, to settle at $80.33 per barrel. Those were the highest closing levels for both contracts since Dec. 1.
Oil Steadies as US Recession Worries Offset China Recovery Hopes
Oil prices balance out over possible U.S. recession worries despite earlier gains due to optimism over China's reopening.
Indonesia's 2022 Oil Lifting Miss Target, Hopes Stalled Projects to Resume
Indonesia's 2023 crude oil lifting target is at 660,000 bbl/d and LNG production at 204-206 cargoes, up from last year's 196 cargoes.
Oman LNG Signs Deals with TotalEnergies, Thailand's PTT
TotalEnergies and PTT will each receive 800,000 tonnes of LNG from Oman LNG per year beginning in 2025 and 2026 respectively.
Pertamina Still Discussing Plan to Take Over Shell's Abadi LNG Stake
Indonesia has been looking for an investor to obtain Shell's 35% stake in the Masela gas project for years.
E&P Highlights: Jan. 13, 2023
Here’s a roundup of the latest E&P headlines, including gas discoveries onshore the Nile Delta in the North Sea and a host of new contract awards from the past week in the upstream oil and gas industry
Chevron, Exxon and Total Keen to Invest in India, Says Minister
India is encouraging joint development production of oil and gas assets and investment in its domestic E&P sector, says Hardeep Singh Puri, Ministry of Petroleum and Natural Gas.
Japan Spot LNG Contract Price Was $30.80/MMBtu Last Month
The Japan Oil, Gas and Metals National Corp. only publishes a price if buyers report at least two eligible cargoes.