Industry News

The project will replace seven aging gas-run compressor stations with one electric compressor station to 'debottleneck upstream infrastructure and unlock future production growth' from the Central Fields.

The best estimate of contingent gas resources on Cyprus' side of the field, located on the maritime border with Israel, has increased about 4 percent to 3.67 Tcf, according to a commissioned assessment.

'The island has evolved into the backbone of Iran's export system', J.P. Morgan analysts stated.

Part of proceeds from the offering of senior notes, due 2036 with a 5.15 percent interest, will be used to refinance existing debt.

'These are just incredible moves', Aaron Hill, Chief Market Analyst at FP Markets, said.

The Spanish power and gas utility has expanded its Australian presence to five states.

Bahrain's main energy company, which operates the island nation's only oil refinery, declared force majeure on operations that have been impacted by the ongoing war in the Middle East.

The Ngaere-1 well in the Waihapa-Ngaere area of the Taranaki basin onshore New Zealand reached initial production, Monumental said, taking the results as encouragement to proceed with entry into additional wells in the area.

Brazil's state-controlled oil producer Petrobras surpassed profit expectations after robust oil production and record exports helped cushion the impact of weaker crude prices.

WTI jumped 12% Friday as disrupted shipping and supply fears pushed crude toward $100 a barrel.

Rigzone talks to Rebecca Babin, a senior equity trader for CIBC Private Wealth in New York.

Maritime traffic in the Strait of Hormuz has ground to a near-complete halt, with no oil shipments going through in the past 24 hours.

The widening conflict in the Middle East is stoking fears over a global energy crunch.

'Both companies recognize the challenge of declining production on the NCS in the coming decade'.

Analysts at BMI, a Fitch Solutions company, revealed that they expect 'significant yet short lived rallies in oil and gas prices'.

Chevron signed an agreement to supply about 14 petajoules of locally produced natural gas over five years to Horizon Power, a power utility serving Western Australia.

'At a time of huge global uncertainty, the UK should be making decisions for the long term in the interests of energy security', OEUK CEO David Whitehouse said.

Libya's NOC said the Sarir refinery is back to producing gasoline after a three-year hiatus.

Over 10 million barrels of Russian crude have already been bought, according to people with direct knowledge of the deals.

Oil prices surged to their highest levels in nearly two years as the Middle East conflict threatens global energy flows.