A third of the world’s seaborne oil—almost 17 MMBbl/d—passes through the strait, which narrows to just 21 miles and has long been a strategic chokepoint in the Persian Gulf.
OPEC+ to extend cuts but Iran’s oil minister laments the growing influence of Russia and Saudi Arabia.
Cut in imports from Iran is cited for reduction.
Iraq has signed a contract with China’s CNOOC to conduct a seismic survey for two oil exploration blocks, the oil ministry said on Jan. 31.
The nearly eight-month project in the Middle East is a significant 4-D opportunity for Fairfield Geotechnologies.
Fugro has commenced a program of geophysical and geotechnical surveys for Artelia, Abu Dhabi as part of the Hail and Ghasha development, the company said on Jan. 18.