(World Oil) – Eni and its partners have approved the final investment decision for the Baleine Phase 3 offshore development in Côte d’Ivoire, advancing the next expansion phase of what the company describes as the country’s largest hydrocarbon discovery. The Phase 3 development is expected to increase Baleine oil production from 60,000 bopd to 150,000 bopd, while natural gas output is projected
(BOE Report) – Brent crude futures rose nearly 2% in early Asian trade on Tuesday after the U.S. military carried out strikes in southern Iran in what it described as defensive actions, keeping markets on edge as a deal to end the war eludes both sides. Brent futures climbed $1.40, or 1.5%, to $97.56 a barrel as of 0006 GMT,
(Oil Price) – The new U.S. strikes on missile sites and boats in southern Iran are further clouding the market view of how the nearly three-month-long crisis will unfold. Oil prices jumped early on Tuesday in Asian trade following the strikes. Prices slumped by 5% on Monday due to hopes of a U.S.-Iran deal. The fresh strikes, however, are complicating the situation
(World Oil) – Mature offshore fields in the Republic of Congo are seeing renewed production optimization efforts as independent operators expand investment in brownfield redevelopment projects. Ammat Global Resources has increased production capacity at the offshore Loango and Zatchi fields through a series of workovers, infrastructure upgrades and reservoir management initiatives aimed at slowing natural decline rates and improving operational efficiency.
(BOE Report) – Iran’s foreign ministry spokesperson said on Monday that conclusions have been reached on many topics discussed in a potential 14-point memorandum of understanding, but this does not mean a deal to end the Middle East war is imminent. The framework is focused on an end to the war and a U.S. naval blockade in exchange for Tehran
