Bolivia seeks oil and gas investment, Russia’s help to solve energy crunch
Bolivian state energy firm YPFB is looking to improve conditions for investment in the country’s flagging oil and gas sector and seeking help from Russia to overcome recent fuel shortages, the head of...
View ArticleExclusive: Rosneft, Lukoil to cut oil exports from Black Sea’s Novo, sources say
Russia’s oil producers Rosneft (ROSN.MM), opens new tab and Lukoil (LKOH.MM), opens new tab will sharply cut oil exports from the Black Sea port of Novorossiisk in July, two sources familiar with a...
View ArticleChina asks state firms to add 60 mln barrels of oil to reserves, Vortexa and...
China has asked its state oil companies to add 8 million metric tons, or nearly 60 million barrels, of crude oil to the country’s emergency stockpiles to boost supply security, according to analytics...
View ArticleHow has energy use changed throughout U.S. history?
In 2023, 94 quadrillion British thermal units (quads) was consumed in the United States, a 1% decrease from 2022, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and...
View ArticleAs Nigeria’s gasoline debt hits $6 billion, some traders back out, say sources
Nigeria’s debt to gasoline suppliers has surpassed $6 billion – doubling since early April – as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs,...
View ArticleBio-LNG to follow LNG path to Europe’s net-zero future
European bio-LNG growth is set to follow in the footsteps of LNG as Europe transitions to a lower sulfur, carbon neutral future in both the transport and maritime sectors. With countries able to...
View ArticleRussian oil and gas revenue soars 41% in first half, data shows
Proceeds from oil and gas sales for Russia’s federal budget rose by around 41% year on year in the first half of the year 5.698 trillion roubles ($65.12 billion), finance ministry data showed on...
View ArticleOil prices on track for fourth straight week of gains
Oil prices were little changed on Friday, trading near their highest since late April and on track for a fourth straight week of gains, driven by hopes of strong summer fuel demand and some supply...
View ArticleBrent crude oil, silver and aluminium price rises stall during US...
Brent crude oil price stays close to its 2-month high The Brent crude oil front month futures price has Friday’s two-month high at 87.29 in its sights. It was made close to the 87.11 mid-March peak...
View ArticleSaudi Arabia cuts August Arab Light crude price to Asia
Top oil exporter Saudi Arabia has cut the price for the flagship Arab light crude it sells to Asia in August to $1.80 a barrel above the Oman/Dubai average, Saudi Aramco said in a statement on...
View ArticleMiddle East Crude-Benchmark premiums rise despite Saudi OSP cut
Middle East crude benchmark premiums rose on Friday, with Murban and Oman benchmarks rising to their highest levels this week despite Saudi Arabia cutting its original selling price (OSP) to Asia. Spot...
View ArticleOil up as investors eye strong fuel demand, potential supply disruptions
Oil prices rose on Friday, reaching their highest levels since late April and bouncing back from early June-lows as investors eyed strong summer fuel demand and potential supply disruptions. Brent...
View ArticleHeavy oil discount narrows further on wildfire risk
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened for a second consecutive day on Friday: WCS for August delivery in...
View ArticleW. Africa Crude-Offers steady, IOC skips WAF in tender
Angolan crude oil was offered at steady differentials on Friday while Indian Oil Corp. skipped West African crude in its most recent buying tender, traders said. IOC opted instead for Murban crude from...
View ArticleNorth Sea Crude-Johan Sverdrup offered lower
Norwegian flagship Johan Sverdrup crude differentials edged lower in the week’s final trading session, while North Sea producers digested news of a Labour party victory in the UK general election. UK...
View ArticleOil settles 1% lower as Mideast ceasefire talks ease supply disruption concerns
Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes. Brent...
View ArticleSaudi Aramco Jackup Suspensions And The Story So Far
Saudi Aramco’s ambitious post-Covid jackup fleet expansion programme, in which the operator looked to increase its fleet size from approximately 49 jackups in June 2022 to 90 in just two years, seemed...
View ArticleMed crude-Urals diffs steady, Kazakhstan plans to reduce exports via Druzhba...
Urals crude differentials to dated Brent were unchanged again on Friday, while Kazakhstan plans lower exports of its KEBCO oil grade via Druzhba pipeline in July, Kaztransoil said. Kazakhstan’s state...
View ArticleUS drillers add oil and gas rigs for first time in 7 weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,...
View ArticleChina, struggling to make use of a boom in energy storage, calls for even more
Rows of what look like thin, white shipping containers are lined up on a barren dirt field in China’s Shandong province. Filled with batteries, they form a 795 megawatt (MW) plant that can hold up to 1...
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