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...Mainly sold to refineries in China, ESPO has consistently traded well above the $60-a-barrel price cap imposed by the G7 in December 2022....
...The collapse of Silicon Valley Bank triggered a sell-off in US oil markets this month from recent highs of $80 a barrel....
...The name of its registered owner in the Marshall Islands: Social Club Inc....
...The combination would raise Ithaca’s production to above 100,000 barrels/day. The Italian major, meanwhile, has a strategy of spinning off assets into satellite businesses....
...Ithaca, whose majority owner is Israel’s Delek Group, said the transaction would create the second-biggest independent operator in the UK continental shelf, boosting its production above 100,000 barrels...
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...In its latest results for the nine months to the end of September, Ithaca reported production of 71,000 barrels of oil equivalent per day and post-tax profits of $238.5mn....
...A second phase should follow five years later, adding 55mn barrels....
...Denbury produces 47,000 in barrels of oil equivalent per day....
...Take the price of a barrel of oil for example. On a certain level it’s a simple thing, it’s a sticky black liquid you can use to keep warm....
...“Vladimir Putin is also the CEO of Russia Oil Inc and he understands the dynamics of the market very well,” Yergin said....
...In a research note on October 3, Morgan Stanley said it expected oil prices of more than $90 a barrel through the middle of 2024....
...It’s scraping the bottom of the barrel here, don’t you think?” Our phone call with Qasim Karim went off the rails pretty quickly....
...Irving Oil’s refinery processes 320,000 barrels of oil a day in Saint John, New Brunswick....
...A version of this article was first published by Nikkei Asia on April 27 2023. ©2023 Nikkei Inc. All rights reserved....
...The unsolicited offer for Total’s Canadian oil exploration and production business includes the company’s stakes in two main oil sands projects with a combined production share of 135,000 barrels of bitumen...
...There he emptied two barrels of Lake Erie water into the Atlantic in what was dubbed the “wedding of the waters”....
...Yet Devon’s shares have hung on to much of their gains as WTI has fallen from $120 to $80 a barrel. If oil prices should bounce (it’s hard to predict!) Devon will be part of another drama, too....
...An enterprise value of $4bn equates to $16 a barrel of oil equivalent that is proven or probable. Its UK peers are a third cheaper on average....
...Then the US oil benchmark, West Texas Intermediate, traded at around $120 per barrel. Crude has since dropped to below $90/barrel on worries about a global recession....
...Ithaca said it expected to produce about 74,000 to 80,000 barrels of oil equivalent a day in 2023, and believes it has enough development opportunities in the medium term to increase production above 100,000b...
...McCarthy, who had been finance chief of Spotify and Netflix, emerged from retirement to take on the chief executive role in February, telling the Financial Times he had experience “staring down the barrel...
...relief is inflationary (Bloomberg $) — Razzlekhan speaks (Twitter) — The UK’s energy crisis came despite an early government warning, while European energy costs are the equivalent of more than $1,000 a barrel...
...One thing to start: BlackRock continues to find itself over a barrel with regards to its environmental, social and governance (ESG) investment policies....
...“At $110 [a barrel] oil, it’s worth $110 or more. At $120 [a barrel], it begins to look like stealing.”...
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