International

Source: Reuters

Opinion: What deadly Middle Eastern attacks on U.S. troops, Russian tanker mean for global oil market

World Oil


(Bloomberg) – A drone strike that killed U.S. troops in Jordan and a separate attack on a fuel tanker in the Red Sea have led to an escalation of tensions in the region key to energy production and …

Source: World Oil

Saudi Aramco to continue sending oil through Red Sea amidst Houthi attacks

World Oil


(Bloomberg) – Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to the …

Source: Oil Price

Latin America: The next chapter in China’s global economic strategy

Oil Price


For decades, China has been a key driver of global economic growth thanks to an economy that managed to maintain blistering growth for what seemed like forever. China’s economy ballooned from $1.2 trillion in 2000 to nearly $18 …

Source: Reuters

Tullow Oil on track to deliver $600 million free cash flow over next 2 years

Nasdaq


West Africa-focused Tullow Oil TLW.L said on Wednesday it was on track to deliver about $600 million free cash flow over the next two years to achieve its stated target of $800 million from 2023 to 2025, sending its …

Source: Reuters

Russia’s fossil fuel revenues continue to fall

Oil Price


Russia’s fossil fuel export revenues continued to fall in December from November, as income from oil and gas exports has been dropping since September, a new analysis by the Centre for Research on Energy and Clean Air (CREA) …

Source: World Oil

Petrobras to start expanding into wind and solar this year

Oil Price


Brazil’s state oil major Petrobras is this year set to go on a shopping spree in wind and solar, its chief executive told Reuters this week.

The company aims to build a portfolio of stakes in wind and …

Source: World Oil

Argentine oil company YPF privatization scrapped from reform bill

World Oil


(Bloomberg) – The privatization of state-run oil company YPF SA is no longer included in the sweeping reforms President Javier Milei is trying to get approved by Argentina’s congress, according to a summary of the legislation circulated Monday …

Source: Reuters

Brent nears $80 as market shrugs off Omicron

Reuters


LONDON -Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week.

Brent crude rose …

Source: Reuters

Analysis: Russia seen missing its May target for pre-pandemic oil output

Nasdaq


MOSCOW, Dec 28 – Russia is unlikely to hit its May target of pre-pandemic oil output levels due to a lack of spare production capacity but could do so later in the year, analysts and company sources said on …

December 28, 2021 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Gazprom expects dividend on 2021 results at more than 45 rbls/share

Reuters


MOSCOW, Dec 21 – Russian energy giant Gazprom GAZP.MM expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices, Gazprom’s Deputy CEO Famil Sadygov said on Tuesday.…

Source: shell.com

Shell signs gas concession agreement for Block 10 in Oman’s Saih Rawl field

World Oil


Shell Integrated Gas Oman BV, a subsidiary of Royal Dutch Shell plc, along with its partners, OQ and Marsa Liquefied Natural Gas LLC, have signed a concession agreement with the Ministry of Energy and Minerals on behalf of …

Source: Reuters

Norway wealth fund will pressure, not divest from high gas emitters

Reuters


OSLO, December 21  – Norway’s $1.4 trillion wealth fund, the world’s largest, will not deny firms that emit major greenhouse gases to meet plans to carbon-neutralize its investment portfolio by 2050.

The deputy head of the central bank – …

Source: Reuters

Oil demand back to pre-COVID-19 levels outside aviation, says GlobalData

World Oil


Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company.

GlobalData’s analysis of oil …

Source: Reuters

Guyana relaxes proposed local content terms in oil bill draft

Reuters


Guyana’s government on Thursday delivered to the National Assembly the draft of a local content bill that will regulate its nascent oil industry, proposing requirements beginning at 5% by the end of 2022 for activities to be carried out …

Sour Reuters

Eni oil block expected to enter production in Q2 2023, Ivory Coast says

Reuters


ABIDJAN — An offshore oil block in Ivory Coast controlled by Eni is expected to enter production in the second quarter of 2023 with daily output of 12,000 barrels of oil and 17.5 million cubic feet of gas, the …

Source: Bloomberg

Mexico may cut Pemex tax liability in bid to boost oil production

World Oil


MEXICO CITY (Bloomberg) –Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines.

“With Pemex, for example, we are constantly or periodically lowering taxes so they have more …

Source: World Oil

Saudis foresee oil price spikes from energy transition efforts

World Oil


(Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices.

“We have very serious concerns that the world could run short of energy …

Source: Reuters

Exxon, Halliburton in talks for Iraq’s West Qurna-1 oilfield, says energy minister

World Oil


(Bloomberg) –Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister.

Iraq wants a U.S. …

Source: World Oil

Biden’s strategic crude sale hasn’t inspired action from other nations

World Oil


SINGAPORE (Bloomberg) –It’s been almost three weeks since the U.S. unveiled an internationally coordinated release of oil from national reserves, but so far there’s been little follow through from the other five nations.

President Joe Biden said on …

Source: World Oil

Iran bases its 2022 budget on $60 oil

World Oil


(Bloomberg) –The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported.

The country expects to export around 1.2 million

Source: World Oil

Exxon receives first oil from Biden’s strategic reserve release

World Oil


(Bloomberg) –The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp.

The company will receive 4.8 million barrels of oil from the Strategic Petroleum Reserve as part …

Source: Reuters

Qatar energy and ExxonMobil sign Cyprus energy exploration deal

Reuters


US giant ExxonMobil and Qatar Energy signed a contract Friday for oil and gas exploration and production-sharing off the divided island of Cyprus despite Turkey’s opposition to the deal.

Qatar energy and ExxonMobil sign Cyprus energy exploration deal- oil and gas 360

Pilides, Varnavas Theodosiou, CEO of ExxonMobil Cyprus, and Ali al-Mana, …

Source: Investing.com

CAF to use $7 billion capitalization for recovery, renewables in Latin America

Investing


BOGOTA – CAF, the Development Bank of Latin America, will use $7 billion in planned equity capitalization to back economic recovery and renewable energy development in the region, its president said on Thursday.

The board of CAF, which has …

Source: World Oil

PDVSA uses cash-stuffed backpacks, scrap metal as pay to restart oil production

World Oil


CARACAS (Bloomberg) –Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year.…

Source: Reuters

BlackRock, Saudi asset manager Hassana sign deal for Aramco’s gas pipelines

Reuters


Saudi Aramco said on Monday it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Co.

Gulf oil producers are looking at sales of …

Source: Reuters

Chevron’s Angola subsidiary signs 20-year extension for Block 0

World Oil


LUANDA – Chevron’s subsidiary in Angola, Cabinda Gulf Oil Company Limited (CABGOC) has just renewed the concession of Block 0, located on Cabinda province’s offshore. The agreement, signed in Houston, United States of America, extends the concession for …

Source: Reuters

Shell wins court ruling, to start seismic survey offshore South Africa

World Oil


(Bloomberg) –A South African court has ruled that Royal Dutch Shell Plc can proceed with a seismic survey offshore the East Coast, after dismissing a legal application by activist groups.

Greenpeace was among organizations that filed an urgent …

Source: Reuters

Gas price windfall makes Gazprom patient over Nord Stream 2 delay

Nasdaq


MOSCOW, Dec 3 – Windfall revenues from high European gas prices mean Russia’s Gazprom GAZP.MM will not start pumping gas through the Nord Stream 2 pipeline before certification and it will not press Germany to speed up the process, …

Source: Bloomberg

Turkey threatens to block Exxon Mobil venture drilling offshore Cyprus

World Oil


(Bloomberg) –Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of …

Source: Reuters

Shell scraps plans to develop Cambo North Sea oilfield

Nasdaq


LONDON, Dec 2 – Royal Dutch Shell RDSa.L said on Thursday it had scrapped plans to develop the Cambo North Sea oilfield, which became a lightning rod for climate activists seeking to halt Britain’s development of new oil and …