Commodities

Seadrill provides $260-million backlog with U.S. Gulf drillship awards

(WO) - Seadrill has secured new offshore drilling work within the U.S. Gulf, including roughly $260 million to its contract backlog and reinforcing ongoing ultra-deepwater exercise within the area. The corporate was awarded a...

VAALCO advances Gabon drilling program, targets Q2 restart of Baobab offshore subject

(WO) - VAALCO Power has reported sturdy preliminary outcomes from its ongoing offshore Gabon drilling marketing campaign, whereas progressing extra growth exercise and a deliberate manufacturing restart offshore Côte d’Ivoire. The corporate stated the...

Kuwait declares drive majeure as Hormuz disruption halts oil export flows

(Bloomberg) – Kuwait declared drive majeure on shipments of crude oil and refined merchandise because the blockade of the Strait of Hormuz makes it not possible to fulfill obligations to clients that may’t...

Strait of Hormuz stalls as Iran reverses Friday reopening transfer

(Bloomberg) — Transport via the Strait of Hormuz stalled over the weekend after Iran reversed its choice to reopen the essential waterway, reimposing restrictions and warning vessels towards transit. The transfer follows a quick...

Oil majors face setback in $5 billion Kashagan environmental positive enchantment

(Bloomberg) – The oil majors that function Kazakhstan’s second-largest discipline misplaced one other courtroom enchantment over an environmental positive of about $5 billion, additional narrowing their choices to battle the penalty.  ...

Talos founder Tim Duncan leads U.S. Gulf oil acquisition with new firm

(Bloomberg) – A brand new oil and fuel firm backed by Talos Power founder Tim Duncan has entered the U.S. Gulf by the acquisition of Renaissance Offshore, marking its first transfer into U.S....

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