News

  • Dear Readers

    As 2021 draws to a close we wish you all a happy and especially healthy 2022. Many of us have struggled with the effects and after-effects of Covid-19. Therefore, we hope that in the next few months steps enabling us to cope with this disease…

    Read more
  • Where Will the WTI Oil Price be at End 2022?

    The West Texas Intermediate (WTI) crude oil price will be between US$70 per barrel and US$74.99 per barrel at the end of next year.   That was the most popular response in a poll asking where respondents expected the oil price to land at the…

    Read more
  • Kuwait Energy to bring Abu Sennan well on production

    Kuwait Energy Egypt will bring the Al Jahraa-13 development well onstream in the Abu Sennan licence, seven kilometres north of the producing Al Jahraa field in Egypt’s Western Desert, partner United Oil & Gas Plc said in a release on the 29th December.   The…

    Read more
  • Positive offshore rig market trends seen in 2021

    Offshore drillers spent much of the past year working back to where they had been at the start of 2020, according to Evercore ISI’s latest Offshore Oracle report.   Several contractors emerged from restructuring and the industry retired an additional 20 floaters and 35 jack-ups,…

    Read more
  • Erbil and Iran sign MoU to Increase Trade

    The governors of Erbil and Iran’s Kurdish-majority West Azerbaijan provinces met on the 28th December and signed a memorandum of understanding (MoU) to increase trade movement and strengthen ties between the two sides. The MoU consists of 14 points, which includes both sides agreeing to…

    Read more
  • Brazilian Courts Suspend Petrobras Natural Gas Price Hikes

    Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors who buy its fuel and various political authorities.   In a note on…

    Read more
  • Exxon Makes Satellite Methane Emission Detection Deal

    ExxonMobil has announced that it has agreed to work with Scepter Inc to deploy advanced satellite technology and proprietary data processing platforms to detect methane emissions at a global scale.   The agreement has the potential to redefine methane detection and mitigation efforts and could…

    Read more