(Oil Price) – At least six LNG cargoes loaded in the United States and initially en route to Asia have been diverted to Europe as European natural gas prices have rallied in recent weeks while Asian prices drop with weaker demand and high inventories. The diverted U.S. cargoes were initially traveling to Asian buyers in China, South Korea, Singapore, and Thailand.
(Oil Price) – U.S. supermajor Chevron has expressed interest in oil and gas exploration offshore Greece, the Greek Ministry of Energy and Environment said on Monday, adding that exploration is part of the national strategy for energy independence and lower energy costs. Chevron is interested in exploring the area southwest of the Peloponnese peninsula and to the west of the island of Crete,
(World Oil) – Kimbell Royalty Partners, LP has closed the previously announced purchase of mineral and royalty interests held by a private seller in a cash transaction valued at approximately $230 million, subject to post-closing adjustments. Kimbell owns oil and gas mineral and royalty interests in over 17 million gross acres in 28 states. The purchase price of the acquisition was funded through
(Oil Price) – Supertanker rates surged in the aftermath of the U.S. sanctions on Russian oil trade and shadow fleet tankers, with rates for the vessels capable of shipping 2 million barrels of crude doubling in one week. The rates for supertankers, or very large crude carriers (VLCC), soared by 112% to $57,589 per day on the Middle East-to-China route, per
(Investing) – WASHINGTON – President-elect Donald Trump will sign an executive order declaring a national energy emergency aimed at boosting U.S. oil and gas production and lowering costs for U.S. consumers, an official with the incoming White House said on Monday. The emergency declaration is just one of many actions Trump is expected to take on Monday to bolster the U.S.
(World Oil) – Eni is launching three exploration plays, TotalEnergies is expecting promising results from its recent onshore exploration project, and other developments were shared during an upstream IOC-led panel at the Libya Energy & Economic Summit. Libya’s National Oil Corporation (NOC) and international energy companies TotalEnergies, Eni, OMV, Repsol and Nabors outlined key exploration milestones and strategies to advance
(Investing) – HOUSTON – Oil prices slipped on Monday as U.S. President-elect Donald Trump’s inauguration is expected to bring a flurry of policy announcements that may clarify how he plans to end the Russia-Ukraine war, boost U.S. oil and gas production and lower costs for consumers. Brent crude futures declined by $1.23, or 1.5%, to $79.58 by 10:57 a.m. EST (15:57 GMT).
