Exploration & Production
Posted inExploration & Production

Oil fluctuates on market tightness and trader concerns

by Louise Dickson, senior oil markets analyst, Rystad Energy

Oil prices are fluctuating on Wednesday, with the projected market tightness driving them to new multi-year highs in the morning. Later in the day, API projections that crude stocks rose in the US spread concerns over the speed of the rally, with prices being trimmed back

Oil prices are currently that high that they carry quite some risk for traders, with today’s wild fluctuation illustrating their fragility and vulnerability to market developments. As Monday’s OPEC+ policy decision does not relieve the market tightness further in coming months, oil prices continued their stunning rally this morning. Despite the bullish morning, the API […]

Posted inExploration & Production, DRILLING & PRODUCTION

Dana Gas KRI and Egypt collections reached $256 million since start-2021

by Carla Sertin

Dana Gas, which owns a 35% interest in Pearl Petroleum, saw its share of collections from sales of condensate, LPG and gas in the KRI jump 77% to $131 million

Dana Gas’s 9M 2021 collections from the Kurdistan Region of Iraq (KRI) and Egypt have increased 102% year-on-year to $256 million (AED 938mm) from $127 million (AED 466mm) in the same period the previous year. Dana Gas, which owns a 35% interest in Pearl Petroleum, saw its share of collections from sales of condensate, LPG […]

Posted inExploration & Production

Oil prices continue to gain after OPEC+ meeting left supply plan unchanged

by Louise Dickson, senior oil markets analyst, Rystad Energy

Oil prices continued to rise on Tuesday, a day after the OPEC+ meeting kept its supply comeback plan unchanged, with traders pricing in further the tight market conditions.

The confirmation that OPEC+ would keep a cap on supply, instead of feeding the market with even more product and bringing it towards a closer equilibrium, drove traders into a buying frenzy for front-month Brent contracts, as the decision guarantees a tight supply picture in November and December. Is the growing oil price becoming an […]

Posted inExploration & Production

OPEC+ meeting outcome drives new price rally

by Carla Sertin

It’s that day of the month again and there is so much to take in from the OPEC+ meeting, as prices are rising on its outcome

Most markets participants were expecting OPEC+ to stick to the plan but – amid high prices and a tight supply environment – it appears traders have been cautious, pricing in an element of surprise before the meeting. The decision by OPEC+ to add the expected 400,000 bpd in November triggered a market reaction, as traders […]

Posted inExploration & Production

Oil flat, waiting for OPEC+ to show the way forward

by Carla Sertin

Oil prices are largely unchanged today so far, as the market is waiting to see how the OPEC+ meeting will unfold before paving a new price direction

There was no lack of oil price swings last week, but the market is taking no risks before today’s OPEC+ meeting, waiting to see what the alliance plans for November before disturbing the price nirvana. Prices are staying largely flat as OPEC+ has the full attention of the oil market. What will shape prices going […]

Posted inExploration & Production, DRILLING & PRODUCTION

Qatar Petroleum begins LNG ship orders for North Field expansion

by Carla Sertin

This marks the beginning of QP's massive LNG shipbuilding program

Qatar Petroleum has ordered four new LNG carriers from Hudong-Zhonghua Shipbuilding Group Co. Ltd. (Hudong), a wholly owned subsidiary of China State Shipbuilding Corporation Limited (CSSC). These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program, which will cater for future LNG fleet requirements for the North Field expansion […]

Posted inDRILLING & PRODUCTION, Exploration & Production

ADNOC Drilling begins trading on ADX with $10 billion market cap

by Carla Sertin

ADNOC Drilling is now trading on the ADX, with a market capitalisation of $10 billion. This initial public offering (IPO) will raise over $1.1 billion, making the ADNOC Drilling IPO the largest-ever ADX listing to date and will also be the first issuance on the newly inaugurated ADX premises. This important milestone will bolster the […]

Posted inExploration & Production, DRILLING & PRODUCTION

Unprecedented high gas price: security of global supply at risk?

by GECF Analysis

Gas prices are hitting new highs, but could impact supply globally

On Tuesday, 28 September, the price for gas in the European market broke the $1,000 per 1,000 cubic metres barrier for the first time ever. The price for October future at the TTF Hub reached $1,031 per 1,000 cubic metres. Several factors are perpetuating the unprecedented spike in the European continent: growing gas demand amidst […]

Posted inExploration & Production

Oil dips ahead of OPEC+ key meeting, while market surprised by US stocks build

by Louise Dickson, senior oil markets analyst, Rystad Energy

Oil prices are declining today as the market prices in some uncertainty ahead of next week’s OPEC+ meeting and the surprise US crude stocks build of the past week

Oil prices are poised to close the week in a bearish track as traders were surprised by a build of crude stocks in the US and are pricing in reports that OPEC+ may consider an option to hike output more than planned in its coming meeting. Building inventories triggered an alarm for markets, especially at […]

Posted inExploration & Production

Oil dips on US stocks build, but bullish environment holds strong

by Louise Dickson, senior oil markets analyst, Rystad Energy

Oil prices declined today as a result of an unexpected build in US stocks last week, but a bullish environment persists amid the winter energy crisis that boosts oil demand even for power needs

The oil price rally is taking a breather today as US crude stocks unexpectedly rose last week, a development the market was not expecting as weeks of continuous draws have been fueling the price rise. Despite the build, the overall trend of massive draws over the past weeks has still left US storage levels low […]

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