Upstream Oil News
88 subscribers
10 photos
2 videos
26.9K links
Monitoring Oil Industry Market
Download Telegram
What if the Assumptions Embedded in the Oil Curve Are Wrong?
https://www.rigzone.com/news/what_if_the_assumptions_embedded_in_the_oil_curve_are_wrong-11-sep-2026-184593-article/?rss=true

What if the assumptions embedded in the oil curve are wrong - J.P. Morgan analysts, including Natasha Kaneva, J.P. Morgan's Head of Global Commodities Strategy, ask.
USA Diesel Hits $6 Per Gallon for First Time Ever
https://www.rigzone.com/news/usa_diesel_hits_6_per_gallon_for_first_time_ever-11-sep-2026-184594-article/?rss=true

'It is a level diesel has never reached', GasBuddy said.
IEA Slashes Oil Demand View
https://www.rigzone.com/news/wire/iea_slashes_oil_demand_view-11-sep-2026-184595-article/?rss=true

The International Energy Agency cut forecasts for oil demand this year and warned consumption may decline further in the coming months.
Norway Sees 'Strong Confidence' in New Discoveries Potential
https://www.rigzone.com/news/norway_sees_strong_confidence_in_new_discoveries_potential-11-sep-2026-184599-article/?rss=true

The Norwegian Energy Ministry received applications from 21 companies including international majors for the country's expanded exploration licensing round.
USA Crude Oil Stocks Drop Week on Week
https://www.rigzone.com/news/usa_crude_oil_stocks_drop_week_on_week-11-sep-2026-184600-article/?rss=true

Crude oil stocks, not including the SPR, stood at 424.1 million barrels on September 4, the EIA's latest weekly petroleum status report showed.
Shell Acquires PJM Gas Power Plant
https://www.rigzone.com/news/shell_acquires_pjm_gas_power_plant-11-sep-2026-184601-article/?rss=true

Shell agreed to acquire a 169-megawatt natural gas-fired power plant in Pennsylvania, while selling a 609-MW combined-cycle gas power plant in New England.
IEA Says Ukraine Strikes Degrade Russian Oil Refining Sector
https://www.rigzone.com/news/wire/iea_says_ukraine_strikes_degrade_russian_oil_refining_sector-11-sep-2026-184597-article/?rss=true

Drones are now hitting secondary-processing units at Russia's refineries, which may require six to eight months to replace, according to IEA estimates.
Oil Posts Biggest Weekly Gain Since July
https://www.rigzone.com/news/wire/oil_posts_biggest_weekly_gain_since_july-11-sep-2026-184602-article/?rss=true

Oil posted a strong weekly gain as Middle East conflict and mounting supply risks kept markets on edge.
TotalEnergies Plans $10B in Angola Oil Investments
https://www.rigzone.com/news/wire/totalenergies_plans_10b_in_angola_oil_investments-12-sep-2026-184596-article/?rss=true

TotalEnergies SE and its partners plan to invest $10 billion in Angola's oil sector over the next five years.
Ghana: Eni Ghana and Vitol sign MoUs with the Government of Ghana for two offshore acreages in the Tano Basin
https://www.energy-pedia.com/article.aspx?articleid=205273

Eni Ghana, together with its partner, Vitol Upstream Tano (Vitol), has signed two Memoranda of Understanding with the Government of Ghana covering two offshore blocks, GH WB 3 and GH WB 8, in Ghana’s Tano Basin, paving the way for the finalization of the Petroleum Agreements.
Harvester Energy Bags New Malaysian PSC
https://www.rigzone.com/news/harvester_energy_bags_new_malaysian_psc-13-sep-2026-184598-article/?rss=true

The Estuary Cluster 'is expected to unlock stranded marginal oil resources through a technology-led development concept centered on a novel shallow-water subsea development approach', Petronas said.
Trump Demands Russian Refineries Be Spared as Diesel Surges
https://www.rigzone.com/news/wire/trump_demands_russian_refineries_be_spared_as_diesel_surges-14-sep-2026-184603-article/?rss=true

'Mr Zelenskyy has to do one thing: he has to stop knocking out diesel fuel in Russia', Trump said.
Brent Oil Passes $108 Per Barrel
https://www.rigzone.com/news/brent_oil_passes_108_per_barrel-14-sep-2026-184604-article/?rss=true

Brent crude spiked to $108.49 per barrel at the Asian opening, Saxo Bank highlighted.
Petronas to Supply LNG to Southeast Europe under Metlen Deal
https://www.rigzone.com/news/petronas_to_supply_lng_to_southeast_europe_under_metlen_deal-14-sep-2026-184611-article/?rss=true

The Malaysian state-owned company agreed to supply Metlen with liquefied natural gas to be sold by the Greek company at home and in neighboring countries.
New Fortress Energy Erases Nearly $6B in Debt as Restructuring Completed
https://www.rigzone.com/news/new_fortress_energy_erases_nearly_6b_in_debt_as_restructuring_completed-14-sep-2026-184612-article/?rss=true

The transaction with creditors, processed under UK law, allowed the New York City-based integrated gas-to-power company to extinguish around $5.7 billion in debt by separating its Brazilian operations into two enterprises, one ceded to creditors.
Oil Climbs Amid Saudi Pipeline Halt
https://www.rigzone.com/news/wire/oil_climbs_amid_saudi_pipeline_halt-14-sep-2026-184613-article/?rss=true

Crude gained as the Saudi East-West pipeline closure heightened fears of tighter global supplies.
Currie Sees 'Extremely High' Risk of $5 Gas by Midterms
https://www.rigzone.com/news/wire/currie_sees_extremely_high_risk_of_5_gas_by_midterms-14-sep-2026-184608-article/?rss=true

Veteran commodities strategist Jeff Currie said average US gasoline prices will almost certainly hit $5 a gallon before the midterm elections.
Cote d'Ivoire: Panoro announces closing of acquisition of Block CI-27 offshore Côte d’Ivoire
https://www.energy-pedia.com/article.aspx?articleid=205295

Panoro Energy has announced completion of the acquisition by Panoro of the entire share capital of DNO’s wholly owned subsidiary DNO CI LLC which holds an indirect 9.09 per cent interest in the high-quality gas producing Block CI-27 offshore Côte d’Ivoire.
Angola: Saipem awarded new offshore contract in Angola worth approx. 350 million USD
https://www.energy-pedia.com/article.aspx?articleid=205299

Saipem has been awarded a new offshore contract in Angola worth approx. 350 million USD. The contract has been assigned by Azule Energy Angola S.p.A., an incorporated joint venture owned by Eni and bp, and relates to the West Hub Tails project, part of the wider Agogo Integrated West Hub Development, located 180 km offshore Angola at water depths up to 1,750 meters.
Oman: Kistos completes acquisition of Blocks 3 & 4
https://www.energy-pedia.com/article.aspx?articleid=205304

Kistos, an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, has completed the acquisition of Blocks 3 & 4 from Mitsui E&P Middle East.
UAE: Lamprell appointed as consortium partner on major offshore EPCI project
https://www.energy-pedia.com/article.aspx?articleid=205311

Lamprell has been awarded a contract as part of a consortium with Larsen & Toubro (L&T) for a major offshore engineering, procurement, construction and installation (EPCI) project in the UAE.