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Rigzone Recent News

1. Oil Up on Increasingly Bullish Backwardation Pattern

   Brent highest since 2014 as all indicators appear to point bullish.

2. Iran-Backed Houthis Claim Drone Strikes on UAE

   It's one of the biggest attacks to date on UAE soil.

3. BP Submits Decom Plan For Foinaven FPSO

   BP has handed in the decommissioning plan for the iconic Petrojarl Foinaven FPSO located West of Shetland.

4. China State Refiners Led Record Oil Processing Volumes

   Crude refining climbed to 703.55 million tons, or 14.13 million barrels per day.

5. Vitol Group Says Oil Prices May Rise Even More

   Oil posted a fourth-straight gain last week.

6. North America Adds 63 Rigs Week on Week

   North America's rig count now stands at 792.

7. USA Announces $420MM Clean Energy Breakthrough Fund

   Breakthroughs in basic research will be key to creating the climate solutions that will help achieve President Biden's goal of a zero-emission economy by 2050.

8. Omicron Labor Force Impact a Factor to Monitor

   Rigzone's regular energy prognosticators highlight Omicron's impact on the labor force, geopolitical factors, oil price trends and more.

9. Aker BP Replaces Maersk Rig. Adds $28M To Backlog.

   Maersk Drilling and Aker BP have agreed to a rig swap for an extended scope of work, adding a backlog worth around $29 million.

10. Libya Says Oil Production Back to 1.2MM Barrels

    Libya's oil production has picked up again.