ADNOC L&S, AG&P Sign Charter Agreement for Use of ADNOC LNG Carrier as FSU
The charter agreement comes as ADNOC L&S begins repurposing older vessels to extend their life.
Oil Prices Rise on US Drawdown, Chinese Fears Weigh
Brent crude futures rose 2.2% to $81.76/bbl, while U.S. WTI crude rose the same amount to $77.91 as of the morning of Dec. 21.
Russia Overtakes Saudi Arabia as China's Top Crude Supplier in November
China's imports from Saudi Arabia totaled 1.61 MMbbl/d, down 11% compared to last year.
Malaysia's Petronas Wins Agua Marinha Exploration Block in Brazil
"This success demonstrates our competitive edge," said Mohd Redhani Abdul Rahman, Petronas' VP of Exploration.
E&P Highlights: Dec. 19, 2022
Here’s a roundup of the latest E&P headlines including new contracts and regulatory announcements in the upstream oil and gas industry.
What's Affecting Oil Prices This Week? (Dec. 19, 2022)
Oil prices have been affected by the economic news and data associated with the major economies, according to Stratas Advisors, such as the U.S. Federal Reserve raising interest rates, high energy prices in Europe and COVID-19 case spikes continuing to plague China.
Oil Rises on Hopes for China's Economy
Brent crude rose to $79.69/bbl while U.S. WTI rose to $75.14 as of Dec. 19.
Bear With US: Tough Year Ahead for Global Economy
Oil and gas prices will slump unless China’s economy grows faster than expected, Fitch Solutions forecasts.
Shell Subsidiary to Sell Baram Delta Non-Op Interests in Malaysia
"This decision is in line with our work to continue focusing our portfolio," Shell upstream director Zoe Yujnovich said of the transactions.
Petronas, JX Nippon to Collaborate on Proposal to Develop Gas Fields off Malaysia
"The BIGST cluster will also be the catalyst that is expected to spur the development of other high contaminant fields in Peninsular Malaysia which was not possible prior to this, due to the lack of complete CO2 handling infrastructure," Petronas said in a statement.