PDO’s Nimr Cluster Celebrates Historic Milestone with 1,500th Well Drilled
Petroleum Development Oman (PDO) reaches a significant milestone as it drills its 1,500th well at the Nimr Oil Field, marking a historic moment for Oman’s oil and gas sector. The newly drilled well, NM-1500, is part of the expansive Nimr cluster, contributing over 12% of PDO’s production and holding immense hydrocarbon growth potential. The achievement underscores PDO’s commitment to sustainable growth and optimizing value for Oman’s economy, backed by efficient collaboration and operational excellence. With an efficient well-factory producing over 130 new wells annually, PDO’s success at Nimr showcases its prowess in extracting oil from challenging subsurface environments.
Exclusive: Peru mines on power despite protests, though halt risk looms
Peru’s biggest copper mines have been able to maintain production despite road blockades, attacks and protests that have roiled the Andean nation for over two months and led to warnings of production halts, an analysis showed on Wednesday.
Two energy giants, two green projects: one double-booking in North Sea
Oil major BP plans to build a vast carbon capture project beneath the North Sea that would be crucial to Britain hitting its emissions targets. Power giant Orsted aims to build a huge offshore windfarm to help the country meet renewable goals.
Taiwan seeks to reassure on TSMC commitment to island despite U.S. investment
Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple planned investment at its new Arizona plant to $40 billion.
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
G7 price cap on Russian oil kicks in, Russia will only sell at market price
The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.
Apple supplier Foxconn adjusts production to avoid holiday blues
Apple Inc supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs at a massive iPhone factory in China from impacting holiday orders.
Spain’s Iberdrola to invest $47 bln in energy transition in 2023-25
Spain’s Iberdrola will invest 47 billion euros ($47 billion) in electricity networks, renewable energy production and customer businesses over the next two years but protecting its balance sheet is a key focus, its chairman said on Wednesday.
Exclusive: Tesla plans mass production start for Cybertruck at end of 2023
Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters.
Factbox: A global treaty to curb plastic pollution
More than 100 United Nations member states will convene this month to draw up a blueprint for the first-ever global agreement to tackle plastic pollution. The U.N. says it could be the most important environmental pact since the Paris Agreement climate deal in 2015.
