(Bloomberg) – U.S. oil is already having a profound impact on the world’s most important oil benchmark, effectively setting the price just after its inclusion in the measure.
WTI Midland — produced in the West Texas shales …
(Bloomberg) – Claudio Descalzi, Chief Executive Officer of Italian oil and gas giant Eni Spa, said he sees no significant jolts to the energy market this year.
“For this year, I don’t expect further big shocks …
(WO) – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl …
A tanker carrying crude oil destined for Chevron has been seized by the Iranian Navy, the United States Navy said on Thursday. The tanker had reportedly been involved in a collision with an Iranian vessel in the Gulf …
Hess Corporation (NYSE:HES) beat Wall Street estimates in its first-quarter earnings report released on Wednesday and added another discovery in offshore Guyana to its production portfolio, though the good news failed to boost share prices in early morning …
NEW DELHI – Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa …
CARACAS/SINGAPORE- Venezuela’s state-run oil company PDVSA is reviewing accounts of Maroil Trading, owned by Venezuelan shipping magnate Wilmer Ruperti, over outstanding debts from petroleum coke supply, five sources close to the audit said, amid a widescale anti-corruption probe.
Geneva-registered …
Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.
Brent crude futures gained 17 cents, 0.22%, to $78.29 a barrel. …
Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy.
The complex will have a capacity of 300,000 barrels of …
SINGAPORE – Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe.
Brent crude futures LCOc1…
Crude oil exports from Venezuela have all but dried up as the government investigates oil contracts with a mountain of unpaid oil purchase bills to the tune of $21 billion.
According to Reuters, the investigation, which …
(Bloomberg) – Jean Paul Prates, the head of Brazil’s state-controlled oil company, isn’t deterred by the world’s energy transition. He says Latin America’s largest producer should keep increasing fossil fuel output for decades to come.
“We will
COPENHAGEN – Denmark on Thursday invited the Russian-controlled operator of the Nord Stream 2 pipeline to help salvage an unidentified object found close to the only remaining intact gas pipeline under the Baltic Sea.
Three explosions last September on …
BOGOTA – Colombia’s Ecopetrol must focus on growing its oil and gas production to fund the transition towards renewables, said Saul Kattan, the chairman of the majority state-run energy company.
Colombia could be a world leader in production of …
Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry.…
LNG freight rates for Atlantic Basin spot LNG cargoes slid to below $50,000 per day on Thursday, the lowest level in over seven months, as natural gas prices in Europe drop with peak winter demand behind us.
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LONDON/DUBAI – OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the …
Russia will continue its 500,000 barrel per day crude oil production cut through the end of June this year, Russia’s Deputy Prime Minister Alexander Novak said on Tuesday.
Russia first announced the 500,000 bpd production cut …
OPEC’s Secretary General Haitham Al Ghais and Iraq’s Prime Minister met over the weekend and called for coordinated action among oil exporters globally in order to reduce volatility in the oil market and avoid adverse impacts for consuming …
(WO) – Eni made a new oil discovery on the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding …
Chevron, the only U.S. company currently allowed to do business in Venezuela, has urged the country’s government to clean up sediment from Lake Maracaibo to make it possible to load more crude oil on tankers without risking running …
DUBAI, United Arab Emirates — When arch-rivals Saudi Arabia and Iran announced they were restoring diplomatic relations, much of the world was stunned — not only because of the breakthrough after years of mutual animosity, suspected attacks and
Russian revenues from oil fell in February as exports declined after the EU embargo on oil product imports from Russia by sea, the International Energy Agency (IEA) said on Wednesday.
Last month, Russia’s total oil exports dropped …
Oil extended losses on Wednesday with Brent crude hitting a three-month low as unease over Credit Suisse spooked world markets, offsetting hopes of a Chinese oil demand recovery.
Early signs of a return to calm and stability faded …
Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.
U.S. West Texas Intermediate crude futures …
Norway’s oil fund held over $263 million in Signature Bank and SVB Financial Group, the owner of Silicon Valley Bank (SVB), which failed spectacularly over the weekend, sparking government intervention.
MarketWatch reports that the Norwegian sovereign wealth fund …
