MEXICO CITY – Mexico’s outgoing president has taken steps to promote a smooth hand-off for national oil company Pemex, three sources told Reuters, but the latest moves will likely postpone a day of reckoning for the world’s most heavily-indebted …
An EU sanctions loophole that allows imports of Russian crude if it’s refined elsewhere made Russia an estimated $1.2 billion (1.1 billion euros) from sales of fuels in the European Union last year, despite the embargo on direct …
(Bloomberg) – Colombia’s state energy company, Ecopetrol SA, has determined that a natural gas deposit in the Caribbean Sea that officials were counting on to shore up the nation’s dwindling reserves is significantly smaller than initially estimated.
Officials …
Canada is celebrating a milestone as oil and gas companies have now voluntarily relinquished the last remaining permits for oil and gas exploration and development off its Pacific Coast.
Canada has a federal moratorium on all offshore oil …
Global oil supply is sufficient now, but natural declines at oilfields mean that the world would need to find a Saudi Arabia every two years to offset these production drops, Saudi Aramco’s chief financial officer Ziad Al-Murshed has …
(Bloomberg) – Guyana President Irfaan Ali called for the “immediate” development of its natural gas resources to make the South American country a regional energy powerhouse on top of its rapidly-growing oil exports.
The government is requesting that …
LONDON -Gabon’s national oil company has agreed to acquire Carlyle’s Assala Energy after it used its right to preempt the sale of the business for $1.3 billion to France’s Maurel & Prom, the firms said on Friday.
Maurel …
Saudi’s state-controlled oil giant Aramco suspended its capacity expansion plans because of the green transition, Energy Minister Abdulaziz bin Salman said Monday, stressing that the future of energy security lies with renewables.
“I think we postponed this [Aramco capacity] …
TOKYO – Japan Petroleum Exploration (Japex) 1662.T sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year’s election, its senior managing executive officer said on …
(Bloomberg) – Argentina’s biggest oil company, state-run YPF SA, is planning a sweeping asset sale under President Javier Milei to sharpen its focus on shale production and boost its share price.
The plan is part of a broader …
NEW YORK – Oil prices rose about a dollar a barrel on Monday on concerns that tensions in the Middle East and Russia’s ongoing invasion of Ukraine could curb global supplies.
Brent crude futures settled higher by 66 …
Assistant U.S. Secretary for Energy Resources Geoffrey Pyatt has told reporters that U.S. allies have been reassured that the Biden Administration’s pause on LNG will not affect currently permitted exports.
“I’ve found that our allies who raise these …
(Bloomberg) – Key Biden administration national-security officials traveled to Guyana on Sunday as the U.S. works to prevent the country’s dispute with Venezuela over oil and mineral riches from sliding into armed conflict.
Jon Finer, the principal deputy …
(Bloomberg) – Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA.
(WO) – Energy Workforce & Technology Council (EWTC) joined the Independent Petroleum Association of America (IPAA), US Oil and Gas Association (USOGA), National Ocean Industries Association (NOIA), Texas Alliance of Energy Producers and Gulf Energy Alliance today in …
(WO) – QatarEnergy has announced the award of the four main Engineering, Procurement, Construction, and Installation (EPCI) contract packages related to the next development phase of the offshore Al-Shaheen field (Qatar’s largest oil field) to increase production by …
(Bloomberg) – Venezuelan oil production at a four-year high is expected to decline quickly if the US follows through on threats to reinstate sanctions on the nation.
The Biden administration on Tuesday said sanctions relief to Venezuela’s oil …
LONDON – OPEC oil output in January registered the biggest monthly drop since July, a Reuters survey found, as several members implemented new voluntary production cuts agreed with the wider OPEC+ alliance and unrest curbed Libyan output.
The Organization …
LONDON – Oil prices edged lower on Tuesday, extending a more than 1% drop in the previous session on China’s economic outlook, though losses were kept in check by supply fears driven escalating tensions in the Middle East.
March …
(Bloomberg) – Hedge fund Bluebell Capital Partners called on bp Plc to bolster investments into oil and gas and cut spending on renewable energy, saying the company’s shift away from fossil fuels is misguided and weighing on the …
(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 …
(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 …
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 …
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 …
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) …
