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Oil Tanker Explodes Off Libyan Coast

OilPrice

The ship that carried about 1 million barrels of crude oil sustained a blast on June 27, a spokesperson for operator TMS Tankers told Reuters on Monday. The tanker had left the Libyan port of Zuetina and was en route to Gibraltar when an explosion occurred in the engine room.

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India’s Oil Imports Hit Record High as Demand Surges Past China

OilPrice

India is fast cementing its status as the worlds top engine of oil demand growthovertaking China earlier than expected and showing no signs of slowing down. million barrels per day (bpd), and then rise another 4.3% According to OPECs latest Monthly Oil Market Report, Indias oil demand is projected to grow by 3.4% in 2025 to 5.74

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Permian oil producers face higher costs with new saltwater rules

Oil & Gas 360º

(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.

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Equinor’s Johan Castberg Field Starts Producing at Peak Capacity

Offshore Engineer

Only three months after coming on stream, Equinor’s Johan Castberg field in Barents Sea has started producing at peak capacity of 220,000 barrels of oil per day…

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Oil Tanker Suffers Unexplained Blast Weeks After Russia Call

Rigzone

Image by Pattadis Walarput via iStock A tanker hauling 1 million barrels of oil suffered an explosion while near Libya, its manager said Monday. The blast caused water intake and the vessel’s engine room is flooded, a spokesperson for TMS Tankers said. Exactly what caused the explosion was unclear, they added.

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The heart of the US oil boom is slowing

Oil & Gas 360º

produced about 5 million barrels of crude oil per day, down by half from the 1970s. With even remote fields like Alaskas North Slope sputtering and the cost to find and extract an additional barrel of oil rising, collapse loomed. That $62 per barrel break-even price in Midland is up from $46 in 2017. Twenty years ago, the U.S.

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EnerMech Awarded Decommissioning Contract by ExxonMobil

Rigzone

The project scope includes decommissioning the subsea flowlines, marking EnerMech’s first major decommissioning campaign in the region, the Aberdeen, Scotland-based engineering services firm said in a news release. Financial terms of the contract were not disclosed.