North Sea Oil Swaps Hit Record Volume as Prices Spiked
A record volume of swaps that traders use to hedge benchmark physical oil prices changed hands on Friday as prices jumped.
A record volume of swaps that traders use to hedge benchmark physical oil prices changed hands on Friday as prices jumped.
Market uncertainty grew with mixed signals on Russia and Iran, affecting oil demand forecasts.
President Donald Trump said he was 'very angry' at Vladimir Putin.
'Through this agreement, Eni, in line with its goal of decarbonizing processes and products, intends to further develop its biorefining capacity through the development of new initiatives to produce biofuels'.
The acquisition boosts Prairie's production by approximately 25,700 net barrels of oil equivalent per day (boepd).
The aid included generators, autotransformers and equipment to enhance natural gas production.
Ginger will become bpTT's fourth subsea project and will include four subsea wells and subsea trees tied back to bpTT's existing Mahogany B platform.
'This quarter's lease sales demonstrate Interior's unwavering commitment to fostering American energy dominance', Department of the Interior Secretary Doug Burgum said.
Shell completed separate transactions to take over Singapore-based LNG trader Pavilion Energy and divest its Energy and Chemicals Park in the Southeast Asian city-state.
'If the sanctions are expanded ... the consequences will reach far beyond Iran, could reshape geopolitics, and send shockwaves through energy markets', Rystad warned.