09 July 2024
09 July 2024
Saudi Arabia seemingly kept hold of some of its oil in June, with sea-based exports dropping substantially.
Kazakhstan's Energy Ministry has said it will balance overproduction towards the end of next year in a detailed plan for gradual compensation.
This move will enhance Devon's presence in the Williston Basin, adding 307,000 net acres with a 70% working interest.
This marks the first phase of a development plan that was sanctioned by authorities in 2022, following its submission in 2021.
The find is approximately 63km from the coast and could potentially yield 300–400 million barrels of oil equivalent (mboe).
The company's preliminary evaluation suggests that the Pharos discovery and the Blackadder prospect are a single Leman Sandstone structure.
The extreme weather has also disrupted liquefied natural gas (LNG) facilities.
The Malaysian state-owned energy company's additional vessels will add a cargo capacity of 174,000m³.
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