Oil Prices Jump 4% on Reports of Iran Preparing to Attack Israel
An Israeli attack on Iranian oil production or export facilities could cause a material disruption, potentially more than a 1 MMbbl/d.
ADNOC Drilling, SLB and Patterson-UTI Form JV Turnwell Industries in UAE
Their joint venture Turnwell Industries LLC has been contracted to drill an initial 144 wells in the United Arab Emirates, scheduled for completion by the end of 2025.
What's Affecting Oil Prices This Week? (Sept. 30, 2024)
Based on Stratas Advisors' demand forecast, there is room for Saudi Arabia to increase supply gradually and not collapse oil prices — if there is no dramatic increase in non-OPEC supply and the other members of OPEC+ do not grossly exceed their quotas.
Saudi Signals Willingness to Weaken Oil Prices, Defend Market Share
Analysts caution that reports of Saudi Arabia abandoning a philosophy of supporting prices in favor of defending market share could be a move to get OPEC+ members in line rather than to launch a costly oil war with the U.S., among others.
UAE’s Masdar Adds to Renewables Portfolio with $1.4B Deal
Masdar says it plans to acquire Brookfield Renewable’s Saeta Yield, which has a portfolio of 745 megawatts of wind and solar assets in Portugal and Spain.
Energy Transition’s Big Ticket Item? $1.5T in Natgas Infrastructure
Energy executives from companies such as Cheniere and Woodside are planning for the energy transition—and natural gas as part of it.
No Good Vibrations: Neo Oiltools’ Solution to Vibrational Drilling Problems
Vibrations cause plenty of costly issues when drilling downhole, but Neo Oiltool’s NeoTork combats these issues, enhancing efficiency and reducing costs.
US LNG Export Market Share Reaches 21%, Despite Biden Pause
Despite the Biden administration’s pause on LNG export facilities, the U.S. took the spot as global LNG exporter in 2023, overtaking Australia, Qatar and Russia, according to the International Gas Union.
OPEC+ Agrees to Delay October Output Hike for Two Months, Sources Say
Oil prices edged up from multi-month lows on reports of an OPEC+ delay as well as a decline in U.S. inventories, though gains were capped by persistent demand concerns.
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.