RIYADH: Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession. Brent crude futures rose 56 cents, or 0.6 percent, to $92.90 a barrel by 0415 GMT. West Texas Intermediate crude futures
Santos, as operator of the Pikka Unit joint venture, has announced a final investment decision (FID) has been taken to proceed with the US$2.6 billion gross (US$1.3 billion Santos-share) Pikka Phase 1 oil project located on the North Slope of Alaska. Pikka Phase 1 is expected to produce 80,000 barrels a day of oil gross with first oil anticipated in 2026.
Santos Takes Final Investment Decision on Pikka; 1st Half Profit Surges morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.