Oil and Gas

By: Inspenet, December 19, 2022.
The United States will soon begin buying back crude for its Strategic Petroleum Reserve (SPR), the country’s Department of Energy said on Friday. The operation will begin with the purchase of the first 3 million barrels of oil in February 2023.

By: Inspenet, December 15, 2022.
Oil prices could rise next year as sanctions cut Russian supplies and demand exceeds earlier expectations, the International Energy Agency said.

By: Inspenet, December 14, 2022.
The Organization of Petroleum Exporting Countries promised to extend, for one more year, its controversial decision to cut its hydrocarbon production by 2 million barrels per day.

By: Inspenet, December 14, 2022.
Walid Fayad, Minister of Energy and Water of Lebanon, and Patrick Pouyanné, President and CEO of TotalEnergies, met at the company’s headquarters and discussed the development of TotalEnergies’ activities in Lebanon, confirming that the teams in charge of Drilling operations on Block 9 are already mobilized.

By: Inspenet, December 14, 2022.
The President of Turkey (Türkiye), Recep Tayyip Erdogan, announced this week, during a meeting of the Cabinet of Ministers, the discovery of a new oil field in the region of Mount Gaba, in the province of Sirnak, Anadolu agency reports.

By: Inspenet, December 13, 2022.
The Guyana government has published the first round of tenders to develop open water oil fields. Guyanese President Irfaan Ali said they expect to award 11 shallow-water mining blocks and another three deep- and ultra-deepwater blocks by May 31, 2023.

By: Inspenet, Dec 9, 2022
Neptune Energy, together with its licensing partners, has announced the discovery of oil and gas in the Calypso exploration well, located on production license PL938, in the Norwegian Sea.

By: Inspenet, December 8, 2022.
Chinese oil imports rose 12% in November from a year earlier and reached their highest level in ten months, according to data from China’s General Administration of Customs.

By: Inspenet, December 8, 2022.
Petronas Carigali, a wholly owned subsidiary of Malaysian energy giant Petronas, has made a new oil and gas discovery in Block SK 100, offshore Malaysia.

By: Inspenet, December 5, 2022.
The members of OPEC+ decided yesterday, Sunday, to maintain their oil production levels in a particularly unstable context, the eve of the entry into force of the sanctions against Russian oil.