Talos starts up Lime Rock, Venice US Gulf discoveries
Talos Energy has commenced oil and natural gas production from its Lime Rock and Venice discoveries,...
Talos Energy has commenced oil and natural gas production from its Lime Rock and Venice discoveries, which are connected to its Ram Well platform in the US Gulf of Mexico. Initial combined gross production from the two wells exceeded 18,500 barrels of oil equivalent per day, while their combined gross ultimate recoverable resources are estimated at 20 to 30 million barrels of oil equivalent.
US crude, product stockpiles diverge in latest API data
The latest data from the American Petroleum Institute reveals a 7.41-million-barrel decline in US crude...
The latest data from the American Petroleum Institute reveals a 7.41-million-barrel decline in US crude inventories for last week, surpassing analysts' projections of a 2.96-million-barrel drop. In contrast, gasoline and distillate stockpiles added 6.9 million barrels and 6.68 million barrels, respectively.
SPR refill plan faces risks as DOE launches new request
The Energy Department has issued a new solicitation to purchase up to 3 million barrels of US crude oil...
The Energy Department has issued a new solicitation to purchase up to 3 million barrels of US crude oil for April delivery, with bid submission by Jan. 10. The department has added 13.8 million barrels of crude back to the Strategic Petroleum Reserve in the past year and intends to buy an additional 22 million barrels, but setbacks loom if rising tensions in the Middle East drive oil prices above the Biden administration's $79 per barrel limit.
U.S. natural gas futures climbed about 4% to a one-month high on Thursday on a drop in daily output and...
U.S. natural gas futures climbed about 4% to a one-month high on Thursday on a drop in daily output and forecasts for colder weather and higher heating demand over the next two weeks than previously expected.
Energy stocks are set to continue their strong start to 2024, as continued...
Energy stocks are set to continue their strong start to 2024, as continued gains in oil prices and a jump in natural gas futures lend support. Meanwhile, the broader benchmarks, which surged in 2023, remain tenuous with another expected lower open.
Oil rose by about 1% on Thursday, extending gains on concerns over Middle Eastern supply after disruptions at an oilfield in Libya and heightened tensions relating to the Israel-Hamas war.Local protests forced a production shutdown on Wednesday at Libya's Sharara oilfield, which can produce up to 300,000 bpd. The field, one of Libya's largest, has been a frequent target for political protests. "A confluence of headlines around further tensions in the Red Sea and a full shutdown of Libya's Sharara oilfield from local protests have renewed concerns about global oil supply disruptions," said Yeap Jun Rong, market strategist at IG.
