Iran’s crude oil price rises in H1 2024: OPEC
The latest report of the Organization of Petroleum Exporting Countries (OPEC) indicated that the average Iran’s crude oil price increased $4.76 per barrel in the first half of the 2024 compared to the...
View ArticleKuwait cuts Aug crude prices for Asia, document shows
Kuwait has cut the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in August by 70 cents from the previous month to $1.25 a barrel above the average of Oman/Dubai quotes, a price...
View ArticleHeavy oil discount steady
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded flat on Friday: WCS for August delivery in Hardisty, Alberta, settled at...
View ArticleNorth Sea Crude-Diffs steady as no deals emerge
No deals were reported on Friday, a day after a trade made Forties the cheapest grade setting the North Sea benchmark price. PLATTS WINDOW * Indications are on a free-on-board (FOB) basis unless marked...
View ArticleW. Africa Crude-Pertamina seeks crude, Nigerian offered high
Nigerian crude oil was offered at their highest levels in about a month as sales picked up, while Indonesia’s Pertamina sought cargoes in a buy tender. Healthy sales pushed differentials for Nigerian...
View ArticleIndia to tap unexplored sedimentary basins in upstream energy revival
Sedimentary basins offer a strong prospect for India to realize its upstream potential, petroleum minister Hardeep Singh Puri said July 11, as the country looks to attract foreign investments and grow...
View ArticleKuwait announces ‘giant’ oil discovery
Kuwait Petroleum Corporation (KPC) said on Sunday it had made a “giant” oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels....
View ArticleUS Cash Crude-Mars eases as Brent spread slips below minus-$4
Mars eased 45 cents to trade flat on Friday, dealers said, as the spread between West Texas Intermediate crude (WTI) and Brent reached its narrowest in more than a month. The WTI-Brent spread traded as...
View ArticleUS drillers cut oil and gas rigs for fifth time in six weeks, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fifth time in six weeks, energy services firm Baker Hughes said in its report on Friday. The oil and gas rig...
View ArticleOPEC+ policy remains key for oil outlook
The half-time review Let’s start with oil. Our first call for 2024 was that Brent would trade above $90/bbl in the second half of the year. Oil prices have already traded above that level several times...
View ArticleKurdish oil smuggling to Iran flourishes
Heading for Turkey to the north and Iran to the east, hundreds of oil tankers snake each day from near Kurdistan’s capital Erbil, clogging the Iraqi region’s often winding and mountainous highways. The...
View ArticleHydrogen and biofuels to power cleaner skies and seas: BP report
Aviation and marine transportation are increasingly decarbonized through a combination of hydrogen-derived fuels and biofuels, BP said in its 2024 Energy Outlook published July 10. The energy...
View ArticleThe Commodities Feed: USD strength weighs on complex
Energy – Speculators cuts gasoil long After four weeks of gains, oil prices settled lower last week with ICE Brent down more than 1.7% over the week. While fundamentals are still supportive, there are...
View ArticleOil holds ground amid political uncertainty in US, Mideast
Oil held its ground on Monday, with political uncertainty in the U.S. and the Middle East supporting prices, offsetting downward pressure from a stronger dollar and weak demand in top importer China....
View ArticleMiddle East Crude-Benchmarks dip; more refiners buy TMX oil
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban dipped on Monday, with trades for September-loading cargoes expected to pick up speed this week. Qatar Energy on Monday will close...
View ArticleKuwait says breakthrough oil and gas discovery set to boost crude production
Kuwait, Opec’s fifth-largest crude producer, said it has discovered “huge commercial quantities” of oil and gas, which is a breakthrough in the Gulf state’s push to boost its hydrocarbons reserves. The...
View ArticleNigeria’s NNPC stake in Dangote refinery reduced over non-payment, CEO tells...
Nigerian state-owned oil firm NNPC shareholding in Dangote refinery has been whittled down to 7.2% from 20% after failing to pay the balance of funding owed, Aliko Dangote, the refinery’s owner told...
View ArticleExxon plans to drill up to 30 wells for its seventh oil project in Guyana
Exxon Mobil Corp (XOM.N), opens new tab plans to drill up to 30 wells as part of its seventh oil project in Guyana, named Hammerhead, according to the development plan proposed by the company and...
View ArticleAI and robotics unlock sustainable efficiency in oil and gas sector, says...
Artificial intelligence (AI) and robotics are leading the transformative changes in the oil and gas sector, accelerating advancements in operational efficiency, safety, and environmental...
View ArticleOil and gas activity in US Rockies, Midwest fell in Q2, Kansas Fed says
Oil and gas activity in the U.S. Midwest and Rockies declined during the second quarter, but is expected to rebound over the next six months, the Federal Reserve Bank of Kansas City said in a quarterly...
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