OPEC’s Oil Production Falls in April
OPEC’s crude oil production fell in April, according to a new Reuters survey, with news of the fall likely to add support to falling oil prices.According to the survey, the results of which were released on Tuesday, OPEC’s crude oil production fell …
PetroChina Books Its Highest Ever Q1 Profit
PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. The Chinese state-held oil and gas giant booked $6.3 billion (45…
Namibia Racks Up Another Major Offshore Oil Discovery
Shares of Portuguese integrated energy operator Galp Energia (OTCPK:GLPEF) (OTCPK:GLPEY) have popped more than 20% in Monday’s early trading session after the company announced that the first phase of its exploration in the Mopane field in offshore N…
TotalEnergies Beats Q1 Profit Forecast Despite Lower Natural Gas Prices
TotalEnergies (NYSE: TTE) saw its first-quarter adjusted net income drop by 22% from a year ago, but the French supermajor’s adjusted earnings beat the consensus estimate.Stable oil prices and healthy refining margins failed to fully offset a decline…
Saudi Oil Giant, Aramco, Wins 4-Year FIFA World Cup Sponsorship
Saudi Aramco has sealed a sponsorship deal with FIFA, the International Federation of Association Football, through 2027, after winning a bidding process last October in which it was the only sponsorship candidate, the Associated Press reports.With th…
Saudi Oil Giant, Aramco, Wins 4-Year FIFA World Cup Sponsorship
Saudi Aramco has sealed a sponsorship deal with FIFA, the International Federation of Association Football, through 2027, after winning a bidding process last October in which it was the only sponsorship candidate, the Associated Press reports.With th…
OPEC Would Open Arms to Namibia, Encourages Investors to Consider
OPEC Secretary General Haitham Al Ghais said in a statement on Wednesday that the group is looking forward to the prospect of a partnership with Namibia, the hottest new oil frontier after Guyana, with new discoveries lining up and first production of…
Polish Refiner Cancels Venezuelan Oil Deals as Sanctions Window Closes
Polish refiner Orlen has scrapped contracts to purchase Venezuelan crude and oil products after losing millions of U.S. dollars on prepayment for cargoes that haven’t been loaded while a wind-down period of the return of the U.S. sanctions on Venezue…
Oil Giants Seek Stakes in the UAE’s New LNG Export Project
Large international oil and gas companies, including top LNG traders Shell and TotalEnergies, are in discussions to buy stakes in the new LNG export project of the United Arab Emirates (UAE), anonymous sources familiar with the talks told Bloomberg on…
EU Regulator Claims Europe Can’t Afford to Ditch Russian LNG Yet
Amid calls from some member states, the European Union should be careful in its efforts to ditch Russian LNG as it should protect its security of gas supply, the European Union Agency for the Cooperation of Energy Regulators, ACER, said in a report on…
Kazakhstan to Consider Building Oil Pipeline in the Caspian Sea
Kazakhstan, a non-OPEC oil producer part of the OPEC+ agreement, will consider building an oil pipeline in the Caspian Sea, Russian news agency Interfax reported on Thursday, quoting Kazakhstan’s Energy Ministry.The country is also considering the co…
LNG Bunkering Sales Off to a Strong Start in 2024
Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Rystad Energy analysis. While question marks remain around just…
Russia’s Seaborne Crude Oil Exports Hit 11-Month High
Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed at refineries knocked offline by Ukrainian drone attacks, tanker-tracking data moni…
Russia’s Seaborne Crude Oil Exports Hit 11-Month High
Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed at refineries knocked offline by Ukrainian drone attacks, tanker-tracking data moni…
Texas Natural Gas Prices Are Negative As Drillers Chase Oil Sales
Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online…
Moscow Calls on Producers to Up Domestic Fuel Deliveries
Moscow is demanding that Russian producers step up gasoline and diesel deliveries to the domestic market and for exchange trading, TASS reported on Wednesday, after the Energy Ministry said Russian fuel market supplies are now stable. "Deputy Pri…