Oil rises for 3rd day on worries about supply disruptions in Russia
Oil prices rose for a third day on Thursday on worries about supply disruptions in Russia, while the market awaited clarity on Ukraine peace talks. However, an industry report showing a build in U.S....
View ArticleNorth Dakota oil output estimated down up to 160,000 bpd, state regulator says
North Dakota oil production was estimated to be down between 130,000 and 160,000 barrels per day (bpd) as of Thursday morning due to the recent extreme cold and related operational challenges, the...
View ArticleIndonesia’s Pertamina targets higher crude oil, gas output in 2025
Indonesian state energy company Pertamina is targeting crude oil output of 416,000 barrels per day in 2025 and gas production of 2,536 million standard cubic feet per day (mmscfd), its deputy CEO said...
View ArticleIn a major shift, Japex to prioritise oil and gas investment through 2030
Japan Petroleum Exploration (Japex) 1662 is prioritising investment in oil and gas exploration and production (E&P) through 2030 – revising an earlier plan to aggressively expand its renewables...
View ArticleKazakh oil output at record high after pipeline damage in Russia
Kazakhstan has pumped record high oil volumes despite damage on its main export route via Russia, the Caspian Pipeline Consortium (CPC), industry sources said on Thursday. Oil and gas condensate...
View ArticleBrazil to join OPEC+, group of major oil-exporting nations
Brazil’s government approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual...
View ArticleUS crude stockpiles rise, fuel draws down amid refinery maintenances, EIA says
U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as seasonal maintenance at refineries led to lower processing, the Energy Information Administration said on...
View ArticleOil heads for weekly gain amid supply jitters, improving demand
Oil prices edged down on Friday but were still poised for a weekly rise on concerns over supply disruptions in Russia and an improving outlook for demand in the United States and China. Brent futures...
View ArticleMiddle East Crude-Oman, Murban loss for fourth consecutive week
Middle East crude benchmark spot premiums of Oman and Murban trended downwards on Friday and posted a fourth weekly decline, while that of Dubai was little changed on a daily and weekly basis. Taiwan’s...
View ArticleOil falls 2% but still set for slight weekly gain on supply jitters
Oil prices fell 2% on Friday but were still on track for a weekly gain on supply disruptions in Russia while uncertainty loomed over a potential peace deal in Ukraine. Brent futures fell $1.42, or...
View ArticleGuyana’s oil output fell to 620,000 bpd in January, government says
Guyana’s average oil production fell to some 620,000 barrels per day in January from 656,000 bpd in December, the lowest monthly figure since August, the Natural Resources Ministry said on Friday in a...
View ArticleW. Africa Crude-Grades steady, unsold March volumes dwindle
West African crude differentials were steady on Friday as the focus remained on the dwindling volume of March cargoes that have yet to find buyers. Around four Angolan and 14 Nigerian cargoes are...
View ArticleNorth Sea Crude-Johan Sverdrup trades lower, WTI Midland falls
North Sea Johan Sverdrup crude traded lower on Friday, while U.S. WTI Midland prices dropped following a lower offer. PLATTS WINDOW Indications are on a free-on-board (FOB) basis unless marked as cost,...
View ArticleConocoPhillips announces agreement to sell interest in Ursa and Europa Fields
ConocoPhillips announced it has entered into an agreement to sell its interests in the Ursa and Europa Fields and Ursa Oil Pipeline Company LLC to Shell Offshore Inc. and Shell Pipeline Company LP,...
View ArticleCNOOC Limited Brings On-stream Luda 5-2 North Oilfield Phase II Development...
CNOOC Limited announces that Luda 5-2 North Oilfield Phase II Development Project has commenced production. The project is located in the central part of the Bohai Sea, with an average water depth of...
View ArticleUrals differentials stable, CPC Blend loadings revised up for February
Urals crude differentials to dated Brent were unchanged on Friday, while CPC Blend oil loadings were revised up for February despite an expected decline in exports, the sources said. Black Sea CPC...
View ArticleGCC crude oil production in 2023 soars to 17mbpd, says report
GCC countries ranked first in global energy indicators and first in crude oil production, crude oil reserves, crude oil exports and natural gas reserves, according to data issued by the Statistical...
View ArticleRising fuel oil tax burden forces Chinese independent refineries to scale...
The increased tax burden on imported feedstock fuel oil has forced some Shandong-based independent refineries in China to shut their primary facilities in February, potentially threatening their...
View ArticleUS refiners mull switch to alternative lighter crudes amid Trump tariff fears
Top U.S. refiners are poised to seek alternative sources for heavy, sour crudes, including running more domestic grades, as they await clarity around U.S. President Donald Trump’s threatened tariffs on...
View ArticleThe Commodities Feed: Sentiment sours
Energy- Speculators trim oil positions Oil prices sold off heavily on Friday, with ICE Brent settling 2.68% lower on the day and WTI briefly trading below US$70/bbl this morning for the first time this...
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