December 2, 2024 – Oil & Gas 360

Countries fail to reach agreement in UN plastic talks

December 2, 2024

(Investing) – BUSAN, South Korea -Countries negotiating a global treaty to curb plastic pollution failed to reach agreement on Monday, with more than 100 nations wanting to cap production while a handful of oil-producers were prepared only to target plastic waste. The fifth U.N. Intergovernmental Negotiating Committee (INC-5) meeting intended to yield a legally binding global treaty in Busan, South Korea,

GeoPark announces plans to acquire Repsol upstream assets in Colombia

December 2, 2024

(World Oil) – GeoPark has announced the signing of Sales and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire Repsol upstream oil and gas assets in Colombia. The potential acquisition would incorporate high-quality assets located in the prolific Llanos Basin, one of Colombia’s most productive oil regions where GeoPark is already a well-established operator both

Galp confirms quality light oil discovery offshore Namibia

December 2, 2024

(Oil Price) – Namibia’s offshore has yielded quality discovery as the African country continues to be an exploration hotspot for international companies. Portugal’s Galp has just successfully drilled and logged the Mopane-1A appraisal well in block PEL83, encountering light oil and gas-condensate in high-quality reservoir-bearing sands. The findings of this third appraisal well are “once again indicating good porosities, high permeabilities, and high

PetroTal completes acquisition of Peru Block 131

December 2, 2024

(World Oil) – PetroTal Corp. has successfully acquired 100% working interest in Peru Block 131, following its acquisition of CEPSA Peruana, the Peruvian business unit of Compañía Española de Petróleos (CEPSA). The Los Angeles oil field at Block 131 was discovered by CEPSA Peru in 2013. “The acquisition of Block 131 represents an important milestone for PetroTal, and a pivotal step

U.S. enters winter with highest natural gas stocks in eight years

December 2, 2024

(Oil Price) – U.S. natural gas inventories are higher than average for this time of the year as America has entered the proper winter heating season with stocks at their highest level since 2016, the Energy Information Administration (EIA) said on Monday. Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet

Fulkrum secures major gas hub contract, launches new Iraq entity

December 2, 2024

(World Oil) – Fulkrum, a global provider of inspection, expediting, auditing, and technical staffing services, announces the launch of its new entity in Iraq. This significant milestone comes as Fulkrum secures a multi-million USD contract to provide surveillance services for a major gas hub development project in the region. The new entity, registered in Basra, enhances Fulkrum’s presence in Iraq

Oil rises on Chinese data, Middle East tensions

December 2, 2024

(Investing) – HOUSTON – Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal, spurred supply concerns. Brent crude futures climbed 36 cents, or 0.49%, to $72.20 a barrel by 10:44 a.m. EST (1544 GMT) while U.S. West

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