(Investing) – Brent crude prices are anticipated to hover in the $60 per barrel to $70 per barrel range in the near term, as traders weigh the trajectory for Russian oil exports over the coming months, according to analysts at UBS. In a note, the analysts including Giovanni Staunovo predicted that Brent crude would end the year at $62/bbl and retained
(World Oil) – Petrobras has confirmed another oil discovery offshore Brazil, identifying high-quality post-salt crude in the Sudoeste de Tartaruga Verde block in the Campos basin. The find further reinforces Brazil’s momentum in offshore exploration and Petrobras’ continued success in mature deepwater basins. The discovery was made at well 4-BRSA-1403D-RJS, located 108 km offshore Campos dos Goitacazes at a water depth
(Oil Price) – Kazakhstan has filed for arbitration in a Swiss court in its lawsuit against major international oil firms as the OPEC+ producer seeks billions of U.S. dollars of damages from Big Oil over contract delays, bribery, and cost overruns, sources familiar with the matter told Bloomberg. The country, where international majors including ExxonMobil, Chevron, Shell, Eni, and TotalEnergies, have developed
(Investing) – LONDON -U.S. oil major Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday. The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20
(World Oil) – TotalEnergies has signed a €5.1 billion ($5.5 billion) all-stock agreement to acquire a 50% stake in EPH’s flexible power generation platform, marking one of the company’s most significant moves yet to scale its gas-to-power integration strategy across Europe. The transaction creates a 50/50 joint venture holding more than 14 GW of flexible generation capacity — including gas-fired plants,
(Investing) – HOUSTON -Oil prices held largely steady on Thursday after declining around 4% in the previous session as investors weighed concerns about global oversupply with looming sanctions against Russia’s Lukoil. Brent crude futures rose 30 cents, or 0.5%, to $63.01 a barrel. U.S. West Texas Intermediate crude increased 20 cents, or 0.3%, to $58.69 a barrel, after a decline of 4.2%
