Saudi Arabia set to raise $11.2 billion selling Aramco shares at lower end of...
Saudi Arabia is poised to raise more than $11.2 billion selling shares in oil giant Aramco (TADAWUL:2222) to help fund its spending plans, after pricing the stock at the lower end of expectations, the...
View ArticleW. Africa Crude-Less than half of Angola’s July-scheduled cargoes left
More than half of Angola’s July-loading cargoes have been sold, a trader said on Friday. About 13 cargoes of Angola’s July-loading cargoes are left, the trader said. The country is scheduled to export...
View ArticleSaudi Aramco shares trade higher after share offering
Saudi Aramco’s shares gained on Sunday, the first trading day after a secondary share offering expected to raise at least $11.2 billion. The shares opened at 27.95 riyals a share, after closing the...
View ArticleUS Cash Crude-Mars gains as US speeds up SPR repurchases
Sour crude Mars strengthened on Friday as the U.S. government speeds up its purchasing of crude oil to replenish the Strategic Petroleum Reserve. Mars Sour WTC-MRS gained 15 cents, while WTI Midland...
View ArticleMed crude-Urals differentials unchanged, Azeri BTC exports to rise 1% in July
Urals crude differentials remained steady on Friday, while Azeri BTC oil exports from Turkey’s Ceyhan port are set to rise slightly next month. Azeri BTC crude oil exports from Turkey’s Ceyhan terminal...
View ArticleHeavy oil discount narrows
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened for a second day on Friday: WCS for July delivery in Hardisty,...
View ArticleNorth Sea Crude-No deals as benchmark grades remain steady
North Sea benchmark grades were steady on Friday as no cargoes traded hands and Forties was offered at higher levels than earlier in the week. PLATTS WINDOW Indications are on a free-on-board (FOB)...
View ArticleUS oil and gas rig count falls to lowest since January 2022 -Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The...
View ArticleUS speeds up purchasing for Strategic Petroleum Reserve as oil prices dip
President Joe Biden’s administration said it has increased purchasing of crude oil to replenishthe Strategic Petroleum Reserve following its historic sale from the stockpile in 2022. The Department of...
View ArticleThe energy transition in the upstream oil & gas sector: a reality check?
Last year was a pivotal one for climate disclosures. The International Sustainability Standards Board’s (ISSB) new standards and the EU’s Corporate Sustainability Reporting Directive (CSRD) climate...
View ArticleOPEC+ alliance not shifting strategy to market share battle: Saudi energy...
OPEC still optimistic on demand OPEC and its allies will continue to manage the oil market, even with plans by Saudi Arabia to boost exports in coming years, the kingdom’s energy minister Prince...
View ArticleUS manufacturers in halting recovery but diesel use tepid
U.S. manufacturers are gradually emerging from a prolonged but shallow slowdown over the last two years, but progress has been fitful, and their consumption of diesel remains tepid, which is weighing...
View ArticleHurricane impact on gas prices could be ‘unusually important’ for US...
This fall’s hurricane season and its impact on gasoline prices could be “unusually important” for the upcoming U.S. presidential election, Goldman Sachs analysts wrote in a note. The bank’s base case...
View ArticleUS oil and gas production show signs of flattening
U.S. oil and gas production are finally showing signs of flattening out as drilling rigs and well completion crews have been idled in response to the retreat in prices since the middle of 2022....
View ArticleOil nudges higher on hopes of summer fuel demand
Oil prices edged up on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest...
View ArticleMiddle East Crude-Benchmarks rise for a second straight day
Middle East crude benchmarks Oman, Dubai and Murban extended gains on Monday, and spot premiums for all three markers fell below $1 per barrel to Dubai quotes. “We continue to expect the market to firm...
View ArticleWestern, Middle East spare production capacity neutralizes OPEC+ cuts: Rosneft
Western and Middle Eastern companies’ increases in spare production capacity are offsetting the effect of the OPEC+ group’s recently announced extension of cuts and weighing on oil prices, Rosneft CEO...
View ArticleGoldman expects summer demand to lift Brent crude to $86/bbl in Q3
A healthy growth in consumer spending and solid summer demand will push the oil market to a 1.3 million barrels per day (bpd) deficit in the third quarter and lift benchmark Brent prices to $86 a...
View Article‘India focusing on oil exploration to reduce import dependence’
At a time when the world is staring at a global energy crisis with oil and gas prices trading at elevated levels, India is focusing on oil exploration to reduce its import dependence for the fossil...
View ArticleNoble Corp to buy Diamond Offshore for about $1.6 bln
Oilfield services firm Noble NE.N said on Monday it would buy smaller rival Diamond Offshore Drilling DO.N in a cash-and-stock deal that would value the transaction at $1.59 billion, the latest in a...
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