Oil prices rose almost $2 a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.Brent crude futures gained $1…
U.S. supermajor Chevron announced that its operated Big Foot deepwater project in the U.S. Gulf of Mexico has started crude oil and natural gas production.The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5…
Britain's energy regulator Ofgem has proposed financial and customer service tests for new suppliers after several smaller energy providers went bankrupt over the last year, it said on Wednesday.Ofgem said the tests should ensure new entrants are robust while encouraging competition in the market…
U.S. President Donald Trump on Wednesday praised Saudi Arabia over recent oil prices and called for prices to go even lower, likening it to 'a big tax cut' that could boost the U.S. and global economies.'Oil prices getting lower. Great! Like a big Tax Cut for America and the World…
Woodside Petroleum Ltd, Australia's biggest listed oil and gas explorer, said on Tuesday it had signed a 20-year gas supply deal with Perdaman Chemicals and Fertilisers Pty Ltd.The agreement is to supply about 125 TJ of gas per day for use in Perdaman's proposed urea plant…
Oil prices tumbled about 7 percent on Tuesday, with U.S. crude plunging to its lowest level in more than a year, caught in a broader Wall Street selloff that was fed by rising concerns about slowing global economic growth.U.S. West Texas Intermediate (WTI) crude futures were down $3…
Philippine opposition senators have demanded President Rodrigo Duterte reveal details of joint energy exploration plans with China, warning such a deal risked affirming Chinese territorial claims that are not recognized under international law…
Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability and a fragile global economy, the head of the International Energy Agency said on Tuesday.Concerned about an emerging production overhang similar to the one that led to a price slump in 2014…
A ground-breaking ceremony was held at Harwich International Port, North Sea seaport in Essex, to mark the official start of construction of the GBP 10 million operations & maintenance (O&M) base for Galloper Offshore Wind Farm.Representatives from the wind farm…
North Sea Forties crude differentials fell to a three-year low on Monday, pressured by ample prompt supplies and limited demand.Ekofisk DelaysSome Ekofisk cargoes for loading in November have been delayed by a few days because of unplanned maintenance…
Turkey warned energy companies on Sunday against working with the Greek Cypriot government in carrying out exploratory drilling in the eastern Mediterranean, saying such activities could damage regional stability.The eastern Mediterranean is believed to be rich in natural gas…
Nigerian opposition candidate Atiku Abubakar will seek to boost investment in the country's oil sector if he becomes president next year, according to a draft copy of his manifesto.He plans to reconsider the introduction of bidding rounds for marginal fields and oil blocks…
Anadarko Petroleum Corporation announced Thursday that Bob Gwin, formerly Executive Vice President (EVP), Finance and CFO, has been named President. In his new role, Gwin will be responsible for leading Anadarko's worldwide operations, project management…
Oil rose nearly 1 percent on Friday on expectations that the Organization of the Petroleum Exporting Countries and its allies would agree to cut output next month, though prices were set to for a weekly drop on underlying concerns that the global market was oversupplied…
Georgia Petroleum Council noted released results from a new study highlighting how Georgia’s economy could benefit from over $200 million in tax revenues as a result of offshore leasing in the Atlantic Outer Continental Shelf (OCS).“Cutting…