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Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
(Bloomberg) Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
“If we go there to assert our jurisdiction, it will be bloody,” Duterte said at a televised briefing late Monday, his first remarks after hundreds of Chinese vessels were spotted at a disputed reef in March.
Oil surged above $64 a barrel a year to the day after futures for the U.S. benchmark collapsed below zero.
(Bloomberg) Oil surged above $64 a barrel a year to the day after futures for the U.S. benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand as leading economies battle the pandemic. The gains were aided by a weaker dollar.
West Texas Intermediate surged 1.1%, extending Monday’s modest climb, and last week’s significant jump. In the U.S., refinery runs have climbed to the highest in over a year as activity picks up, with that optimism overshadowing concerns that demand in India is suffering amid a fresh wave of infections. An additional boost for crude came from the drop in the dollar, which fell for a seventh session, boosting the appeal of commodities priced in the currency.
Eni S.p.A (NYSE: E), through its subsidiary Eni RAK, has been awarded Block 7 in the onshore of Ras Al Khaimah, United Arab Emirates.
Eni S.p.A (NYSE: E), through its subsidiary Eni RAK, has been awarded Block 7 in the onshore of Ras Al Khaimah, United Arab Emirates, the company revealed on Monday.
Eni RAK will act as the operator of the block, which covers an area of 166 square miles, with a 90 percent participating interest. Ras Al Khaimah’s National Oil Company RAK Gas will hold the remaining ten percent stake in the asset.
Block 7 represents an underexplored acreage in a complex thrust belt geological setting, similar to that of the recent discovery of Mahani in the adjacent Sharjah Emirate, Eni said in a company statement. The company noted that newly acquired 3D seismic will allow the joint venture to assess the geological setting of the area and eventually unlock its hydrocarbon potential. Eni added that the presence of existing gas processing facilities in the Emirate wo
The project would collect emissions from industrial facilities along the Houston Ship Channel and bury them beneath the Gulf of Mexico.
(Bloomberg) Exxon Mobil Corp. proposed a giant, $100 billion hub to capture carbon dioxide emissions along the U.S. Gulf Coast in Texas but warned that government funding would be required to pay for and develop it.
In what would be the world’s biggest carbon carbon and sequestration project, Exxon along with a multitude of private and public partners would build a facility to collect emissions from refineries, petrochemical plants and other industrial facilities along the Houston Ship Channel, Joe Blommaert, president of Exxon’s new low-carbon business said in a blog post.
The Maersk Developer semisub will perform well intervention on four wells. PHOTO SOURCE: Maersk Drilling
Karoon Energy Ltd. (OTCMKTS: KRNGF) has awarded Maersk Drilling (CPH: DRLCO) a four-well intervention contract offshore Brazil, Maersk reported Tuesday.
Under the 110-day contract, the Maersk Developer semi-submersible rig will perform well intervention on four wells at the Baúna field, Maersk Drilling noted in a written statement emailed to Rigzone. The approximately US$34 million firm contract, which includes rig modifications and a mobilization fee, will likely commence in the first half of 2022, pointed out the drilling contractor. In addition, the firm stated the contract includes options to add up to 150 days of drilling work at the Patola and Neon fields.