Rigzone

4 days ago | rigzone.com | Yongchang Chin

Goldman Sachs Group Inc. flagged the possibility of higher oil and gas prices after the US struck Iran, even as the bank’s base-case outlook hinges on major disruptions to supplies from the region. If oil flows through the Strait of Hormuz were to drop by half for a month, and remained 10% lower for another 11, Brent would spike briefly to as much as $110 a barrel, analysts including Daan Struyven said in a note. Should Iranian supply fall by 1.75 million barrels a day, Brent would peak at $90.

1 week ago | rigzone.com | Michael Nienaber |Suzanne Lynch |Kamil Kowalcze

The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won’t back tougher sanctions due to rising crude prices. The EU has proposed lowering the cap to $45 per barrel from the current $60, but oil’s surge following Israel’s attack on Iran has complicated efforts to find unanimity among the bloc’s 27 members.

1 week ago | rigzone.com | Petra Sorge |Eyk Henning |Dinesh Nair

Germany’s economy ministry is studying options for how to exit nationalized energy company Securing Energy for Europe GmbH, people with knowledge of the matter said. Some officials have been holding early-stage deliberations as they evaluate a range of possible ways to exit SEFE, which could include a sale or breakup of the business, or a potential merger with fellow nationalized energy company Uniper SE, according to the people.

1 week ago | rigzone.com | Rocky Teodoro

Oceaneering International Inc. said that its Offshore Projects Group (OPG) segment has entered into a vessel services agreement with an undisclosed major operator for the use of the MPSV Harvey Deep Sea vessel. The MPSV Harvey Deep Sea, currently chartered by Oceaneering through February 2027, is equipped with two Oceaneering Millennium work class remotely operated vehicles.

1 week ago | rigzone.com | Rocky Teodoro

Inpex Corporation said it has been granted a production concession for Onshore Block 4, located on the central coast of Abu Dhabi, United Arab Emirates, by the Supreme Financial and Economic Council of the Emirate of Abu Dhabi (SCFEA). The Japanese energy firm has been conducting exploration and evaluation activities in the block since 2018, after winning the block in an open exploration round held by Abu Dhabi National Oil Company (ADNOC), Inpex said in a news release.