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Rigzone Recent News

1. Oil Falls Again on Oversupply Signs

   Oil fell for a second day as weak refined products and rising supply fueled bearish sentiment.

2. Russian Crude Output Lags OPEC+ Quota

   Russia's crude oil output last month was well below its OPEC+ quota.

3. Morocco Gets Closer to Creating $1B LNG Import Hub

   Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast.

4. Strategists See USA Crude Inventories Dropping Week on Week

   Macquarie strategists are forecasting that U.S. crude inventories will be down by 7.0 million barrels for the week ending December 5.

5. XCF's New Nevada SAF Project Advancing toward Construction

   'Engineering, design and project planning are underway, positioning construction to begin in 2026'.

6. BMI Analysts Make 2026 Oil Demand Prediction

   Analysts at BMI, a unit of Fitch Solutions, projected that global oil demand 'will post steady growth' in 2026 'but remain below historic trends'.

7. LNG Canada Phase 1 Completed

   Fluor and JGC said Monday they had handed over LNG Canada's second production train, bringing the Shell-led project's capacity to 14 million tons a year.

8. North America Adds Rigs Week on Week

   North America added eight rigs week on week, according to Baker Hughes' latest North America rotary rig count.

9. Trump Admin Backs Potential American Buy of Lukoil Iraq Field

   The US government is backing Iraq's plan to transfer Lukoil's stake in a giant oil field to an American company, days before a sanctions waiver on the Russian firm is set to expire.

10. Noble to Sell 6 Jackups, Become Pureplay Deepwater Driller

    'Noble will be a pureplay deepwater and ultra-harsh environment jackup operator'.