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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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09.10.26 - 03:24
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Perfect storm: Sensex slips amid rising oil, bond yields (Times of India)
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Brent crude prices surged to over $105 per barrel, affecting the Indian stock market negatively. The Sensex dropped 1,045 points, significantly impacting investor wealth by Rs 10 lakh crore. Foreign portfolio investors sold stocks worth approximately Rs 13,000 crore, marking a high level of outflows. The ongoing market decline has led to a nine-week losing streak, which could become the longest on record....
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08.10.26 - 22:04
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US sanctions Indian firms, individuals as Iran oil crackdown widens (Times of India)
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On Thursday, the United States targeted two Mumbai-based companies over their alleged oil trade involvement with Iran. The sanctions affected five Indian nationals connected to SSPL Solutions Private Limited and Samudra Marine Services Private Limited. These measures are part of a broader crackdown on Iran under 'Operation Economic Outcast'. The U.S. government aims to curb Iranian oil revenues fueling military and cyber activities....
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08.10.26 - 19:57
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Der OMV schmelzen die Öl- und Gasreserven weg [premium] (Die Presse)
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Die OMV verdient kräftig, doch die gesicherten Reserven von Österreichs größtem Öl- und Gaskonzern sanken zuletzt viel rascher als im Rest der Branche. Die neue Chefin Emma Delaney soll das Ruder herumreißen und die Öl- und Gasförderung wieder ausbauen....
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08.10.26 - 19:34
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Oil Tops $105, Goldman Execs Eye Massive Bonuses (Bloomberg)
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Oil jitters are back as Brent tops $105, hammering stocks and bonds. A massive new OpenAI financing deal fuels fresh AI bubble warnings. Goldman executives eye blockbuster bonuses. Plus, NYSE Group CEO Lynn Martin on the IPO race, PepsiCo cuts its outlook, and Chipotle jumps on a reported Starbucks takeover push.
Get a jump start on the US trading day with Dani Burger on "Bloomberg Open Interest." (Source: Bloomberg)...
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