Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers balanced concern about weakening global growth that may dampen fuel demand.Last week crude jumped more than 6% after OPEC+…
Indonesia has put three oil and gas exploration blocks out for tender in its first bidding round of the year, with estimated resources of more than 2.4 billion barrel of oil and 9 trillion cubic feet of gas, its energy ministry said.Indonesia plans to offer 10 oil and gas working areas this year…
Vietnam's state oil firm PetroVietnam said on Monday its crude oil output was 2.6 million tonnes in the first quarter this year, 12.6% higher than its target.The figure, however, is lower than the company's crude oil output of 2.74 million tonnes in the same period last year…
Companies working on a $300 million logistics facility in Guyana that will support offshore oil operations said on Wednesday the shore base will help reduce shipping costs for supplies by as much as 12% by allowing larger supply vessels to dock…
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020.China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories…
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.Since…
North Sea Forties crude oil differentials were unchanged on Wednesday as Mercuria offered cargoes while BP withdrew one, all above Forties' current assessed value.Platts windowIndications are on a free-on-board (FOB) basis unless marked as cost…
North Sea oil and gas producers hit back after Britain's decision to raise a windfall tax on the sector, warning the move risked jeopardizing investment in the ageing basin and could cut output just as Britain seeks to boost domestic production…
Oil fell by more than 1.5% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline.Central banks around the world…
EnQuest urged Britain under new premier Liz Truss to offer investment incentives to North Sea oil and gas companies in order to help the country secure its domestic energy supplies.Amjad Bseisu, CEO of the North Sea-focused oil producer, said…
Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh.Brent crude futures were down 97 cents, or 1%, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was at $89…
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.Europe is aiming to…
Russia increased pressure on investors in its two Pacific energy projects which once helped Moscow rebuild its economy, blaming ExxonMobil for falling oil output at Sakhalin-1 and giving shareholders of Sakhalin-2 a month to claim their stakes…
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions…
OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was an insult to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group's leader to pump more to help the United States and the global economy…
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