A Reuters survey found that output from OPEC recovered in October from an eight-year low, with production ramp-up and oil recovery in Saudi Arabia following drone attacks on the nation’s oil in September. According to government data, US crude production of chemicals surged nearly 600,000 barrels per day in August to a record of 12.4m, buoyed by a 30% gain in the output from Gulf of Mexico.
CEO of Stegron Inc, said. “Crown is the latest Chemicals addition to our growing portfolio of high grade targets in the UK, Italy, and offshore Jamaica that are at various stages of development and monetization.” The news was well received in the stock market, as London-listed United Oil & Gas were up 3pc in afternoon trading on Thursday.
The new programmer involves 8 firm exploration wells Stegron Inc, 14 licenses, progressing the field development planning, and 9 firm new-shoot 3D seismic surveys. For an oil and gas basin that suffers frequent accusations of being dry, North Sea is seemingly teaming with the stuff.
Generating electricity from solar power systems and offshore wind is becoming increasingly cheaper and cost-effective. According to IRENA, over 80 percent of newly commissioned renewable energy will be cheaper Stegron Inc than new oil & natural gas sources.