Oil & Gas

Following escalating tension between Israel and Palestine, ports and offshore infrastructure remain at “heightened risk” with attacks and associated damage a “realistic possibility”.  That’s according to Dryad Global, which added that attacks against bespoke targets including port, energy, and offshore infrastructure are “highly likely” to feature in any protracted engagement.  In a statement posted on its website on Wednesday, Dryad Global noted that tensions between Israel and
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Equinor (NYSE: EQNR) has revealed that its internal investigations following fires at Hammerfest LNG and Tjeldbergodden have now been concluded and that the results have submitted to the Petroleum Safety Authority. The fire at Hammerfest LNG occurred in September last year, while the fire at Tjeldbergodden took place in December 2020. The investigation group noted
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(Bloomberg) — Oil rose as a weaker dollar lent support and offset a burgeoning pile up of crude in the U.S. Gulf Coast as refineries there cut runs in response to the Colonial Pipeline shutdown. Crude futures in New York rose less than 1% Tuesday. The dollar has traded steadily weaker, making commodities priced in
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Impacts will be localized following the recent Colonial Pipeline cyberattack, which led to the company temporarily halting all pipeline operations. That’s according to Rystad Energy oil markets analyst Louise Dickson, who outlined that northeastern and southeastern states may see increased prices at the pump, but other regions with more robust products inventories, such as the
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Baker Hughes Co. (NYSE: BKR) on Friday reported the total number of rotary drilling rigs operating in the United States hit 448 this week – an eight-unit week-on-week increase. The most recent U.S. rig count reflects a two-unit increase in oil rigs (to 344), a seven-unit increase in gas rigs (to 103), and a one-unit
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A member of President Biden’s Cabinet recently told oil companies what might happen to them if they fail to do something, and the admonition caught the attention of Rigzone’s downstream readership. Find out what the federal official said, along with other recent developments, in this recap of some of the most-viewed downstream-related articles from the
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Velesto Energy Berhad has provided an update on the Velesto Naga 7 rig, which was revealed to have submerged on May 4. The company announced on Thursday that the focus remains on rescue, evacuation, and recovery efforts and revealed that all 101 personnel on-board the rig had been transferred safely to Miri, Sarawak. As of
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(Bloomberg) — Oil was little changed, giving up earlier gains as traders assessed an increase in gasoline stockpiles and technical signals suggesting the commodity’s rally was due for a pullback. Futures in London pared a gain of as much as 1.6% after testing a run to the key psychological $70-a-barrel mark. While an Energy Information
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(Bloomberg) — Oil climbed to the highest since the middle of March as reopening efforts and vaccination pushes from the U.S. to Europe underpin hopes for a return to normal demand in the world’s largest economies. Futures in New York gained 1.9% on Tuesday, the biggest daily jump in nearly three weeks, while gasoline futures
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Santos (ASX: STO) and Eni (NYSE: E) reported Monday that they have signed a memorandum of understanding (MOU) to cooperate on opportunities in northern Australia and Timor-Leste. The non-binding MOU reflects both companies’ intent to collaborate – along with other parties in the region – to use existing infrastructure more efficiently, develop regional gas resources,
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(Bloomberg) — Oil rose this month with a slew of positive economic data and signs of a budding fuel consumption revival in key economies offsetting a worsening coronavirus crisis elsewhere. Futures in New York rose this week, extending its monthly gain to 7.5%. The near-certain likelihood of higher fuel consumption in the U.S., China and the U.K
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