Saudi Arabia Increases Oil Prices for Asian Markets
Saudi Arabia Raises Oil Prices to Asia The world’s largest crude exporter, Saudi Arabia, has raised the price of its flagship grade to Asia by more than expected amid high volatility in international oil prices amid the escalating conflict in the Middle East. Saudi Aramco in the weekend raised the price of its Arab Light […]
BP Reduces Focus on Energy Transition, Discontinues Oil and Gas Goals
BP scales back its energy transition, abandons oil and gas targets Oil major bp has pulled back from its promise to cut oil and gas output by 40% while rapidly growing renewables by 2030 as a way to regain the confidence of investors, although it continues to target net-zero emissions by 2050. Murray Auchincloss, who […]
BP Lowers Oil Production Goals in Strategic Shift, Sources Reveal
bp drops oil output target in strategy reset, sources say BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP’s strategy was the sector’s […]
A New Era in Oil and Gas Exploration, Says Energy Minister
New era begins in oil and gas exploration: Energy minister ISTANBUL Energy Minister Alparslan Bayraktar has stated that sending off the Oruç Reis Seismic Research Vessel to Somalia marks the beginning of a new era in Türkiye’s natural gas and oil exploration at sea. President Recep Tayyip Erdoğan on Oct. 5 attended a ceremony to […]
Oil and Gas vs. EVs: A Threat from Above?
Oil and gas, EV’s-A threat from above? (Oil & Gas 360) – Traffic jams and hailing Ubers could be things of the past should air taxi developers deliver on promises that are enticing enough that Toyota is investing in another round of the technology. Oil and gas, EV’s-A threat from above?- oil and gas 360 The […]
Oil Rig Count Declines as Oil Prices Experience Largest Weekly Increase Since 2022
Oil Rig Count Drops as Oil Prices See Strongest Weekly Gain Since 2022 The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 this week to 585, compared to 619 […]
Morgan Stanley Names This Oil and Gas Stock a New Top Pick, According to Investing.com
This oil and gas stock is a new Top Pick at Morgan Stanley By Investing.com Investing.com — Morgan Stanley named Baker Hughes as its top pick in the oilfield services and equipment (OFSE) sector, raising its price target for the stock by 7% to $45 in a note Thursday. The firm cited several key factors […]
Low Prices Pressure U.S. Oil and Gas Production
Low Prices Squeeze U.S. Oil and Gas Output By John Kemp, energy analyst U.S. oil production growth continues to slow in response to the fall in prices, as the initial shock from Russia’s invasion of Ukraine and the sanctions imposed in response more than two years ago fades. Crude and condensates output from the Lower […]
Malaysia Challenges Chinese Patrols to Boost Oil and Gas Drilling in the South China Sea: Report
Malaysia defies China’s patrols to expand South China Sea oil, gas drilling: report Malaysia is expanding oil and gas exploration in the disputed South China Sea despite pressure from Chinese vessels that have maintained a constant presence in waters where both sides have overlapping claims, according to a new report. Short-range coastal tracking data show […]
Newly Manufactured Components Depart for North Sea Oil & Gas Projects: Connecting Two Platforms (Gallery)
Newly fabricated parts set sail to join pile piecing two platforms together for work at North Sea oil & gas projects (Gallery) The UAE-headquartered marine and offshore services provider Drydocks World Dubai, a part of DP World, has completed its scope of work related to jacket pile clusters for two new platforms that are slowly taking […]