July 3, 2024

Chevron, Hess reach “significant” milestone in ExxonMobil arbitration over assets offshore Guyana

July 3, 2024

World Oil (WO) – According to Reuters, a three-person arbitration panel has been finalized to address ExxonMobil’s claim against Chevron’s $53 billion purchase of Hess Corp over oil-rich assets offshore Guyana. This marks a significant step in resolving the uncertainty surrounding the merger, which Chevron and Hess hoped to complete in early 2024. ExxonMobil filed the claim with the International

Shell begins Perdido evacuation as Hurricane Beryl threatens operations

July 3, 2024

Oil Price Shell announced on Wednesday that it had safely paused some drilling operations in the Gulf of Mexico as Hurricane Beryl was preparing to deliver a massive blow to Jamaica, Reuters reported, noting that so far no impact on GOM production had been noted. On Wednesday, Shell said it had begun evacuating non-essential crew at its Perdido asset in

Canadian oil sands come back into limelight as U.S. shale growth slows, Enverus reports

July 3, 2024

World Oil (WO) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released a report that examines where Canadian oil sands assets fall on the North American cost curve. “The often-overlooked Canadian oil sands represent nearly 40% of North America’s sub-$50 WTI breakeven oil resource,” said Dane Gregoris, managing director with EIR. “Oil sands businesses are particularly attractive to

New field starts oil production in U.S. Gulf of Mexico

July 3, 2024

Oil Price The Winterfell development in the U.S. Gulf of Mexico has started up oil production, one of the partners in the oilfield, Kosmos Energy, said on Wednesday. Winterfell, located in the Green Canyon area in the Gulf of Mexico, was discovered in 2021 at a water depth of approximately 5,400 feet (about 1,600 meters). The field has been developed via a

Texas LNG sells half of capacity from upcoming Brownsville facility following Biden’s LNG export ban overturning

July 3, 2024

World Oil (WO) – Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has signed a non-binding Heads of Agreement (“HOA”) a long-term LNG free-on-board (“FOB”) sale and purchase agreement (“SPA”) for 0.5 MMtpa of LNG from Texas LNG. “This agreement positions Texas LNG on the verge of full sell out, and we look forward to finalizing our

U.S. crude oil inventories increase by 5.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 12.2 million barrels

July 3, 2024

Weekly Crude Oil Storage as of June 28, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.2 million barrels from the previous week. At 448.5 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,

Chevron, Hess reach “significant” milestone in ExxonMobil arbitration over assets offshore Guyana

Shell begins Perdido evacuation as Hurricane Beryl threatens operations

Canadian oil sands come back into limelight as U.S. shale growth slows, Enverus reports

New field starts oil production in U.S. Gulf of Mexico

Texas LNG sells half of capacity from upcoming Brownsville facility following Biden’s LNG export ban overturning

U.S. crude oil inventories decrease by 12.2 million barrels

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