Libya supply disruptions propel crude prices higher
Brent crude oil trades back above USD 80 per barrel, having once again managed to bounce ahead of key support in the USD 75 area. Recent weakness was driven by demand fears, especially in China, the...
View ArticleAPI shows weekly US crude, fuel stockpiles fall, market sources say
U.S. crude oil and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures on Tuesday. The API figures showed crude stocks fell by 3.407 million barrels...
View ArticleOil retreats as demand concerns offset Libya supply risks
Oil prices slipped on Wednesday on persistent concern over Chinese demand and elevated risks of a broader slowdown, though the decline was capped by potential supply losses from the Middle East and...
View ArticleLibya’s oilfield closures spread in standoff over central bank
Libya’s oilfield closures spread on Wednesday as the Sarir field almost completely halted output, two field engineers told Reuters, amid a political dispute over control of the central bank and oil...
View ArticleOil bears focus on lacklustre demand and planned output boost: Kemp
Investors have remained resolutely bearish about the outlook for petroleum prices despite increasing confidence the U.S. Federal Reserve will cut interest rates to stimulate consumer and business...
View ArticleLibya’s oilfield closures spread in standoff over central bank
Libya’s oilfield closures spread on Wednesday as the Sarir field almost completely halted output, two field engineers told Reuters, amid a political dispute over control of the central bank and oil...
View ArticleWestwood Insight – Namibia: The newest most promising deepwater rig demand...
Over the past few years, the Namibian Orange Basin has emerged as an exciting new oil province and subsequently a provider of significant new demand and future demand potential for deepwater drilling...
View ArticleCNOOC Limited Announces 2024 Interim Results
On August 28, CNOOC Limited announced its 2024 interim results. ·Making solid progress in reserves and production growth, net production increases by 9.3% year-on-year (“YoY”) ·Sustaining effective...
View ArticleEquinor may reconsider investing in UK oil sector if taxes rise
Norway’s Equinor EQNR.OL may reconsider investing in oil and gas in Britain if the Labour government changes the industry’s tax regime, a top company executive told Reuters. Equinor’s head of...
View ArticleOil prices edge lower after US crude stocks draw, Libya supply risks limit...
Oil prices edged lower on Wednesday after a smaller-than-expected draw in U.S. crude stockpiles and as concerns over Chinese demand persisted, though losses were capped by supply risks in the Middle...
View ArticleADNOC Deploys Pioneering AI-Enabled Process Optimization Technology
ADNOC announced today the deployment of an industry leading artificial intelligence (AI)-enabled process optimization technology. Neuron 5 was developed by ADNOC and has been initially deployed at...
View ArticleAkselos and Shell sign major agreement for asset optimisation
Shell and Akselos have signed an enterprise agreement for structural performance management. The new agreement between Akselos and Shell will extend successful projects with Shell Pearl GTL in Qatar,...
View ArticleSeptember Urals oil prices climb $7-8/barrel above price cap, calculations show
Prices for September Urals crude oil firmed to $67-$68 per barrel on a free-on-board basis in Russian Baltic and Black Sea ports, $7-8 per barrel above the $60-per-barrel western price cap, Reuters...
View ArticleOil edges up as Libyan supply woes offset lower-than-expected U.S. stock draw
Oil prices edged up on Thursday after two sessions of losses, as supply concerns over Libya returned to focus, while a smaller-than-expected draw in U.S. crude inventories sapped demand expectations....
View ArticleINDIA CEO SERIES: Oil India sets sights on upstream, downstream growth; eyes...
The India CEO Series by S&P Global Commodity Insights is a compilation of exclusive interviews by Asia Energy Editor Sambit Mohanty with some of the leaders of the biggest energy companies in...
View ArticleMarathon Oil Receives Stockholder Approval for Proposed Merger with...
Marathon Oil Corporation (NYSE: MRO) (“Marathon Oil”) announced today that it received the necessary stockholder approval for Marathon Oil’s pending merger with ConocoPhillips (NYSE: COP). Marathon Oil...
View ArticleOil rises nearly 2% on tightening supplies from Libya, Iraq
Oil prices rose by more than a dollar a barrel on Thursday as supply disruptions in Libya and plans to lower output in Iraq raised concerns of a tightening market. U.S. West Texas Intermediate crude...
View ArticleOil set for weekly gain on supply concerns
Oil prices edged higher on Friday on track for a weekly gain as Libyan output disruptions and Iraqi plans to curb production raised supply concerns, while data showing the U.S. economy grew faster than...
View ArticleGeopolitical risk to oil production is not a major driver of the economy
Geopolitical downside risk to oil production can have sizeable effects on oil price uncertainty and the global economy. This column argues, however, that it is not a major driver of macroeconomic...
View ArticleFreeport LNG plant in Texas to return to service Thursday, LSEG data shows
U.S. liquefied natural gas (LNG) company Freeport LNG’s export plant in Texas was on track to return to service on Thursday after shutting on Wednesday, LSEG data showed. Freeport is one of the...
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