August 8, 2024

VAALCO Energy to unlock over 20 MMbbl of oil offshore Equatorial Guinea in “landmark” PSC deal

August 8, 2024

World Oil Publisher’s Note: VAALCO Energy will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend, investor one-on-one meetings can be scheduled. (WO) – In a landmark deal, Houston-based oil and gas exploration company VAALCO Energy has reported that all involved parties have finalized a production sharing contract (PSC) for Block P offshore

Reasons to be bullish despite the recent oil price crash

August 8, 2024

Oil Price Oil prices have been highly volatile over the past week, with Brent trading across a $6.75 per barrel (bbl) range to hit a seven-month low of $75.05/bbl intra-day on 5 August thanks to bearish news coming from the world’s largest economy. The latest U.S. jobs report revealed that the economy added 114,000 jobs in July, way lower than the Wall Street

Oxy raises 2024 oil and gas production, following $10.8 billion CrownRock acquisition, Permian success

August 8, 2024

World Oil (Bloomberg) – Occidental Petroleum Corp. raised its production and capital spending plans for this year after closing its $10.8 billion acquisition of CrownRock LP earlier this month. The deal will increase Occidental’s production 5% to about 1.32 MMboed in 2024, with the extra coming from the Permian basin, the Houston-based company said in a statement Wednesday. Capital spending

Lower LNG prices drag Cheniere’s Q2 profit down by 36%

August 8, 2024

Oil Price Cheniere Energy (NYSE: LNG) booked a 36% decline in its second-quarter earnings compared to a year ago, due to lower margins for delivered LNG cargoes. Cheniere Energy, the biggest U.S. LNG exporter, reported on Thursday a net income of $880 million for the second quarter, down from $1.37 billion for the same period of 2023. Half-year net income slumped by

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 21 Bcf

August 8, 2024

Natural Gas Inventories as of August 2, 2024 The EIA has released its natural gas inventory report, showing a net increase of 21 Bcf as of August 2, 2024. Working gas in storage was 3,270 Bcf as of Friday, August 9, 2024, according to EIA estimates. This represents a net increase of 21 Bcf from the previous week. Stocks were

VAALCO Energy to unlock over 20 MMbbl of oil offshore Equatorial Guinea in “landmark” PSC deal

Reasons to be bullish despite the recent oil price crash

Oxy raises 2024 oil and gas production, following $10.8 billion CrownRock acquisition, Permian success

Lower LNG prices drag Cheniere’s Q2 profit down by 36%

Weekly Gas Storage: Inventories increase by 21 Bcf

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