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09.10.26 - 05:51
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China Accelerates Ultra-Deep Drilling To Boost Domestic Oil Supply (ZeroHedge)
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China Accelerates Ultra-Deep Drilling To Boost Domestic Oil Supply
Submitted By Tsvetana Paraskova of OilPrice.com,
China is accelerating efforts to produce more oil from ultra-deep formations to boost domestic supply amid continued global market turmoil.
State-owned giant PetroChina has produced more than 26 million tons of oil equivalents from reservoirs dug 6,000 meters (19,685 ft) below the surface in the Hade-Fuman oilfield in the western region of Xinjiang, state media report.
Reservoirs at 6,000 meters and deeper are considered ultra-deep and more expensive and technologically challenging to drill.
China has drilled a total of 485 ultra-deep wells at the Hade-Fuman oil field, which has become the biggest desert oilfield in China and a base for ultra-deep oil and gas exploration and production.
In recent years, the world's top crude oil importer has accelerated exploration of domestic resources, including in ultra-deep formations and shale reservoirs as it aims to reduce its dependence ...
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07.10.26 - 15:24
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Golar LNG acquires conversion vessel for 4th FLNG (GlobeNewswire EN)
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Golar LNG Limited (NASDAQ: GLNG) (“Golar” or “the Company”) announces today that it has agreed to acquire the LNG carrier Grace Dahlia from NYK Line. The Grace Dahlia was built in 2013 and has been maintained and managed to the highest operational standards by NYK Line....
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06.10.26 - 22:51
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Seadrill Schedules Third Quarter 2026 Earnings Release and Conference Call (Business Wire)
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HAMILTON, Bermuda--(BUSINESS WIRE)--$SDRL #Seadrill--Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) will report its third quarter 2026 results on Tuesday, November 3, after the NYSE closes for trading. The Company will host a conference call to discuss on Wednesday, November 4, at 08:00 CT / 15:00 CET.
Interested participants may join the call by dialing +1 (833) 461-5787 (Conference ID: 184 972 661) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards.
About Seadrill
Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com. Contacts
Kevin Smith
Vice President – Corporate Finance a...
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05.10.26 - 19:18
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Aramco Cuts Asia Oil Prices To Six-Year Low, Warns Global Oil Supply Buffer "Scarily Thin" (ZeroHedge)
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Aramco Cuts Asia Oil Prices To Six-Year Low, Warns Global Oil Supply Buffer "Scarily Thin"
Saudi Aramco has raised oil prices for European-bound cargoes in November but has cut prices for Asian buyers to the lowest in six years as Persian Gulf producers race for market share with flows through the Strait of Hormuz increasing.
The state-owned firm will offer Arab Light crude to buyers in Asia to $5 a barrel less than the Dubai/Oman benchmark for November, according to Bloomberg citing a list from the producer. That compared with a discount of $2 a barrel for this month. Traders and refiners had expected a $5 increase from October, a Bloomberg survey shows.
The unexpected cut amounted to $3 per barrel - which is the lowest since June 2020, not long after crude hit negative prices for the first and only time in history - is a signal the world's largest oil exporter may be trying to boost sales to Asia, along with other Persian Gulf producers. Aramco raised November prices to Euro...
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05.10.26 - 09:36
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Saudi Arabia Cuts Price of Benchmark Oil Grade to Asia (Bloomberg)
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Energy Aspects founder Amrita Sen says the increased cost of shipping is the reason why Saudi Arabia cut prices of its benchmark grade to Asia. "It's costing about $30 per barrel right now to move oil from Hormuz to Asia," she tells Bloomberg Television. "The biggest issue is ship-to ship," she adds. (Source: Bloomberg)...
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