Gulf Insider

2 months ago | gulf-insider.com | Irina Slav

In October last year, China’s CNOOC reported record oil and gas production from a field called Deep Sea #1. The field was the company’s first ultra-deep project, an example of the pursuit of new, untapped resources that lie deeper under the sea. Yet it’s not only ultradeep offshore drilling that the Chinese are focusing on. Right now, China is building a new rig that should be able to drill much deeper than any other rig-onshore.

2 months ago | gulf-insider.com | Alex Kimani

An overnight attack by Ukrainian drones on Russia’s Andreapol oil pumping station, part of the oil export route via the Baltic Sea port of Ust-Luga, has forced oil flows to stop, Bloomberg has reported. The attack also hit a Russian missile storage facility, causing a string of explosions. Ukraine has stepped up drone strikes on Russian military and energy facilities in recent weeks as the third anniversary of the war approaches.

2 months ago | gulf-insider.com | Julianne Geiger

Oil traders are making big moves in the Brent-Dubai spread, a contract that lets them bet on the price gap between Middle Eastern crude and global benchmark Brent. The action has hit record levels, thanks to U.S. sanctions on Russian oil that are forcing buyers to look elsewhere for supply, with the situation presenting a lucrative opportunity for traders willing to play.

Jan 23, 2025 | gulf-insider.com | Tom Ozimek

World Authored by Tom Ozimek 19 seconds ago 1 minute read Europe must avoid becoming too dependent on U.S. energy supplies, Germany’s outgoing economy minister Robert Habeck cautioned on Jan. 21, which comes amid President Donald Trump’s demands that the European Union (EU) buy enough American oil and gas to make up for the U.S. trade deficit with the EU – or face tariffs.

Jan 23, 2025 | gulf-insider.com | Tsvetana Paraskova

The outgoing U.S. Administration on January 10 imposed the most severe sanctions on Russia’s oil yet. Many of the vessels transporting Russia’s oil from the Arctic and Far East Pacific fields and production clusters to Asia have now been sanctioned. India’s refiners have stopped doing business with the Russian tankers and companies sanctioned by the U.S., a source at the Indian government told Reuters on Monday.