Petroineos Makes Historic Purchase of North Sea Oil, Acquiring Largest Benchmark Volume Since 2008

In a significant move that could reshape the dynamics of the North Sea oil market, Petroineos has completed a purchase of benchmark oil at an unprecedented scale. On November 13, 2024, the company announced that it had acquired nearly 8 million barrels of oil from the North Sea, a figure that represents the highest volume of its kind since at least 2008. This purchase not only underscores Petroineos's growing influence in the oil market but also highlights the ongoing volatility and competitive nature of energy sourcing in this region.

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