Author hkrichiedistribution
Nigeria LNG Ltd., the operator of Africa’s largest natural gas plant, is in talks with lenders to finance a $10 billion expansion. The company is discussing with the country’s top-10 lenders including Guaranty Trust Bank and Zenith Bank, to raise as much as $2 billion, and with foreign lenders and export-credit agencies for the balance,
Saudi Aramco notified at least four customers that some crude deliveries in early October will be delayed to later in the month after attacks on its facilities cut output, though they’ll still receive their full contracted volumes, according to people with knowledge of the matter. Delays range from a few days to weeks, according to
If anything could distract Asia’s top powers from sparring over disputed territory and crimes committed during World War II, it’s the need for cheap oil. Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies – China, Japan, India and South Korea – leading the pack, according to consultancy
Chevron could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, CEO Mike Wirth said in an interview with CNBC. The zone can produce as much as 500,000 bpd but has been shuttered for at least four years due to a dispute between
The attack on an oil facility in Saudi Arabia that sent futures prices soaring Monday will likely begin filtering through to gas stations later this week, according to price tracker GasBuddy. The average U.S. retail gasoline had risen just one cent a gallon since Sunday, even as futures on the New York Mercantile Exchange jumped
The attack on an oil facility in Saudi Arabia that sent futures prices soaring Monday will likely begin filtering through to gas stations later this week, according to price tracker GasBuddy. The average U.S. retail gasoline had risen just one cent a gallon since Sunday, even as futures on the New York Mercantile Exchange jumped
UAE-based offshore oil rig builder Lamprell has yet to receive a firm order for the construction two jack-up rigs. The company signed a letter of intent in December 2018. As previously reported by Offshore Energy Today, Lamprell in December 2018 received a Letter of Intent for the subcontract of two newbuild jack-up drilling rigs from
Baker Hughes, a GE company announced today the closing of a secondary offering of 132.25 million shares of BHGE Class A common stock, par value $0.0001 per share at a price to the public of $21.50 per share. This closing includes the underwriters’ exercise of their option in full, purchasing an additional 17.25 million shares
Saudi Arabia said preliminary findings show Iranian weapons were used in the attack on one of its key oil installations, but stopped short of directly blaming the Islamic Republic for the strikes that cut its crude output by half and rattled oil markets. Ongoing investigations of “debris and wreckage” show “it belongs to the Iranian
The oil market is facing a prolonged disruption to Saudi Arabia’s oil production with few options for replacing such huge output losses. The weekend attacks on the kingdom eliminated about 5% of global oil supply, propelling Brent crude to a record surge on Monday. Officials at state oil company Saudi Aramco have become less optimistic