Rigzone Industry News

Proceeds will help fund initiatives to diversify the economy away from oil.

Oil futures dropped alongside equity markets as traders look ahead to Sunday's OPEC+ meeting.

'This will be the first new development for Valeura in Thailand, and is expected to serve as a substantial source of production growth in the second half of this year'.

Surge said it has identified the potential for up to 100 multi-lateral drilling locations at Hope Valley.

The DOE is awarding a total of $1.2 million to the semifinalists of an inaugural prize for the development of CO2 removal technologies and solutions.

'Our strategy is to quickly realize the value of our exploration success while making the most of our existing infrastructure'.

Crude oil stocks in the U.S., not including the SPR, stood at 454.7 million barrels on May 24, according to the EIA.

EU member states are discussing sanctions targeting key Russian LNG projects.

'The industry continues to admire operators who can not only open new frontiers, but also find large volumes of advantaged resources,' Wood Mackenzie said.

'We think bearish Brent flows stand out enough to represent a target for OPEC+ policy makers', analysts at Standard Chartered said.