Chevron Announces New Gas Discovery Off Coast of Egypt
Energy Giant, Chevron on Sunday announced a significant...
Energy Giant, Chevron on Sunday announced a significant new gas discovery in the eastern Mediterranean Sea, off the shore of Egypt. The reservoirs are in the Nargis Offshore Area concession, operated by Chevron, which holds a 45 percent working interest in the concession.
“Chevron is encouraged and excited by the success of this first exploration well which encountered high-quality reservoirs and follows from Chevron’s entry into the Egyptian upstream sector in 2020,“ said Clay Neff, president of Chevron International Exploration and Production.
“We look forward to working together with the Government of Egypt, the Egyptian Natural Gas Holding Company (EGAS), and our other partners to support the growth of Egypt's energy sector through this exploration program. The eastern Mediterranean has abundant energy resources, and their development is driving strategic collaboration in the region.”
Tesla reduces prices for its car models sold in the US and Europe.
Among the price reductions include $43,990 for a Tesla Model 3, down from $46,990, and $52,990 for...
Among the price reductions include $43,990 for a Tesla Model 3, down from $46,990, and $52,990 for a Tesla Model Y, down from $65,990. In the US, both vehicles also now qualify for a $7,500 federal tax credit, bringing down costs further.
Benchmark U.S. crude oil for February delivery rose $1.47 to $79.86 a barrel Friday. Brent crude for March delivery rose $1.25 to $85.28 a barrel.
Wholesale gasoline for February delivery rose 5 cents to $2.53 a gallon. February heating oilrose 4 cents $3.26 a gallon. February natural gas fell 28 cents to $3.42 per 1,000 cubic feet.
U.S. drillers add oil and gas rigs for first time in three weeks
(Reuters) - U.S. energy firms this week...
(Reuters) - U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, rose three to 775 in the week to Jan. 13. That puts the total rig count up 174, or 29%, over this time last year.
U.S. oil rigs rose five to 623 this week, in their biggest build since November, while gas rigsfell two to 150, their lowest since May.
U.S. oil futures were down about 1% so far this year after gaining about 7% in 2022.
After a Reuters report claiming that the much-anticipated restart of the Freeport LNG liquefaction facility...
After a Reuters report claiming that the much-anticipated restart of the Freeport LNG liquefaction facility in Texas would be delayed into February due to the lack of regulatory approvals, the company reiterated its objective to relaunch the plant in the second half of January.
