Kazakhstan removes energy minister amid tensions with OPEC+, oil majors
Kazakhstan’s energy minister will stand down from his role, the country’s presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower...
View ArticleWestwood Insight – Deferred well P&A could add $5.5bn to UK decommissioning bill
Political and fiscal uncertainty has undermined investor confidence in the UK oil and gas industry. Production is in decline, progression of new field developments has stalled, and exploration activity...
View ArticleFitch Ratings Increases Near-Term Gas Price Assumptions, Oil Prices Unchanged
Fitch Ratings has raised its TTF gas price assumptions for 2025 and Henry Hub assumptions for 2025-2026, reflecting year-to-date prices, the cold winter this year, and tighter supply and demand. Oil...
View ArticleRussia’s Gazprom Neft ready to raise oil output under OPEC+ deal, CEO says
Gazprom Neft (SIBN.MM), opens new tab is ready to raise oil output from April under the OPEC+ agreement, the head of the Russian oil producer said on Tuesday. The company does not plan to reduce oil...
View ArticleEurope seeks to avoid Russian energy if sanctions eased, ministers and execs say
European buyers are unlikely to return to Russia’s energy sector if sanctions are lifted, as the bloc has diversified its power mix with renewable energy and alternative gas suppliers, ministers and...
View ArticleAsia-Pacific medium sweet crude premiums may face pressure from supply...
Cash differentials for May-loading barrels of Asia-Pacific regional medium sweet crude could see some pressure on the back of an increase in supply compounded by weakening middle distillate cracks. The...
View ArticleU.S. crude oil inventories up last week: API
The American Petroleum Institute (API) on Tuesday reported an increase of 4.593 million barrels of crude oil in U.S. inventories for the week ending March 14. Analysts expect a rise of 1.170 million...
View ArticleHSBC forecasts surplus oil in 2025, 2026 on strong supply, sluggish demand...
HSBC expects the oil market to be in a surplus in 2025 and 2026 due to strong supply and sluggish demand growth, the bank said in a note on Tuesday. The bank said that it expects a surplus of 200,000...
View ArticleOil slips as Putin agrees to 30-day halt on energy facility strikes
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump’s proposal that Moscow and Kyiv temporarily stop attacking each other’s energy infrastructure, a move that could...
View ArticleAverage rouble price of Russia’s oil drops 24% below budget target in March
The price of Russia’s oil blend in roubles so far in March is on average around 24% below the level targeted in the federal budget for 2025 due to the currency’s firming and weaker global oil prices,...
View ArticleAverage rouble price of Russia’s oil drops 24% below budget target in March
The price of Russia’s oil blend in roubles so far in March is on average around 24% below the level targeted in the federal budget for 2025 due to the currency’s firming and weaker global oil prices,...
View ArticleBrent crude flips to discount against Dubai, first time since Nov 2023, LSEG...
Brent crude futures flipped to a discount against Dubai swaps on Wednesday, the first time since November 2023, LSEG data showed. The Brent-Dubai Exchange of Futures for Swaps (EFS) was assessed at...
View ArticleMiddle East Crude-Benchmarks edge higher; Brent-Dubai flips to discount
Middle East crude benchmarks Oman and Dubai edged higher on Wednesday while Brent crude futures flipped to a discount against Dubai swaps, the first time since November 2023, LSEG data showed. The...
View ArticleVitol snaps up West Africa assets from Eni, strengthening upstream presence
Vitol will buy stakes in West African oil and gas assets from Italy’s Eni ENI, bolstering the global commodity trading house’s position in the upstream sector, as it seeks to reinvest the huge profits...
View ArticleUS crude stocks rise more than expected but gasoline and distillate...
U.S. crude stocks rose more than expected even as gasoline and distillate inventories fell last week in a sign of sustained fuel demand, the Energy Information Administration said on Wednesday. Crude...
View ArticleOil prices likely to be lower in 2025 than last year
Brent crude oil prices are projected to average $73 per barrel in 2025, down $7 per barrel per barrel from 2024, according to Wood Mackenzie’s latest monthly oil market outlook. The $73 per barrel...
View ArticleVitol snaps up West Africa assets from Eni, strengthening upstream presence
Vitol will buy stakes in West African oil and gas assets from Italy’s Eni ENI, bolstering the global commodity trading house’s position in the upstream sector, as it seeks to reinvest the huge profits...
View ArticleVenezuela’s PDVSA to produce, refine and export crude previously handled by...
Venezuela’s state-run PDVSA has put together three operational scenarios as part of plan to continue producing and exporting heavy oil at the largest joint venture with Chevron in the country once a...
View ArticleLower diesel prices signal potential shift in base oil refinery output
The European diesel market has experienced a notable downturn recently, raising implications for base oil refinery output. As market dynamics exert downward pressure on diesel margins, refiners...
View ArticleThe Commodities Feed: European gas surges
Energy – SPR refill noise Oil prices edged higher yesterday, with ICE Brent settling 0.31% higher on the day. The gains were driven by a recovery in equity markets and a relatively supportive inventory...
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