International

Source: Reuters

Saudi Arabia’s oil export earnings hit a 6-year high in June

World Oil


(Bloomberg) — Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production.

 

Monthly crude exports topped more than $1 billion a day …

ReconAfrica announces extension of environmental clearance certificate to August 26, 2025

ReconAfrica announces extension of environmental clearance certificate to August 26, 2025

Oil and Gas 360


Publisher’s Note: Recon Africa was a presenter at the EnerCom Denver- The Energy Investment Conference this past week. Please click here for replays.

VANCOUVER, BCAug. 17, 2022 /CNW/ – Reconnaissance Energy Africa Ltd. (the …

Source: Reuters

Russia’s Gazprom warns European gas prices could climb a further 60%

Reuters


MOSCOW – Russian state gas company Gazprom (GAZP.MM) said on Tuesday that European gas prices could spike by 60% to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall …

Source: Bloomberg

Buhari’s Exxon sale flip-flop could discourage investment in Nigeria’s oil production

World Oil


(Bloomberg) — Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector.

 

A $1.28 billion …

Source: Reuters

Oil drops as China data weighs

Yahoo Finance


Oil prices fell by more than $5 a barrel on Monday after disappointing Chinese economic data renewed concerns of a global recession that would be expected to reduce fuel demand.

 

Brent crude futures fell $3.88, or 4%, …

Source: World Oil

OEUK issues new guidance for oil and gas producers to reduce key greenhouse gas

World Oil


The leading trade body for the UK’s offshore energy industry, Offshore Energies UK (OEUK), launched new guidelines to help oil and gas companies reduce methane emissions from the production of oil and gas.

The guidelines come as OEUK …

Source: Reuters

Russia says Gazprom needs documents to enable return of gas turbine

Reuters


MUELHEIM AN DER RUHR, Germany (Reuters) -German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that had been serviced in Canada but …

Source: World Oil

Eni plans second LNG platform offshore Mozambique as Europe seeks gas

World Oil


(Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive.

The …

Source: Reuters

OPEC+ sees slightly smaller oil market surplus this year, sources say

Nasdaq


LONDON – OPEC+ sees this year’s oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.

 

New …

Source: World Oil

TotalEnergies kicks off production from Nigeria’s Ikike gas field

World Oil


TotalEnergies, OML99 operator (40%) in partnership with the Nigerian National Petroleum Corporation (NNPC, 60%), has announced the start of production from the Ikike field, in Nigeria.

 

Located 20 km (12 miles) off the coast, at a depth …

Source: Reuters

Oil rises as dollar strength eases, but Fed weighs

US News


HOUSTON – Oil prices rose over 1% on Monday, bolstered by supply fears, a dip in the U.S. dollar and stronger equity markets, but prices seesawed as some worried rising U.S. interest rates would weaken fuel demand.

Brent

Source: Bloomberg

Libyan oil production hits 1 million barrels a day

World Oil


(Bloomberg) — Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April.

 

The OPEC member, home to Africa’s largest crude …

Source: Reuters

Russia continues to face hurdles getting oil to market

World Oil


(Bloomberg) — Another week, another sign that Russia is struggling to get its oil to market.

 

The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, …

Source: World Oil

Tankers that carried Iranian oil are switching to Russian crude

World Oil


(Bloomberg) — Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa.

 

Eleven of the tracked ships that previously carried Iranian crude have loaded Russian oil and products …

Source: CNBC

Russia resumes gas flows to Europe after fears of a total shutdown

CNBC


The operator of Nord Stream 1, a key gas pipeline which runs from Russia to Germany, said Thursday it was in the process of resuming flows to Europe.

 

 

There had been concerns across the region that there …

Source: World Oil

Iran warns proposed U.S. legislation would diminish chance for nuclear deal

World Oil


(Bloomberg) — Iran warned that proposed U.S. legislation targeting the Islamic Republic could further imperil stalled Biden administration efforts to resurrect the moribund nuclear deal.

 

The bipartisan U.S. Senate bill, called the Iran Nuclear Weapons Capability Act

Source: CNBC

Nuclear power plant lowers output to protect fish as Europe grapples with heatwave

CNBC


A nuclear power plant in Switzerland is lowering its output in order to prevent the river that cools it from hitting temperature levels dangerous to marine life, in the latest example of how Europe’s current heatwave is having wide-reaching …

Source: Reuters

Exclusive: Russia seeking oil payments from India in dirhams

Yahoo


NEW DELHI – Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the …

Source: World Oil

Biden expects more Saudi oil after trip to kingdom

World Oil


(Bloomberg) — President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.

 

Biden’s trip didn’t result in an immediate …

Source: Reuters

Oil jumps on Russia supply jitters, lower dollar

Reuters


LONDON – Oil prices extended gains on Monday, boosted by mounting concerns over gas supply from Russia and a lower dollar, offsetting demand fears brought on by a possible recession and China lockdowns.

Brent crude futures for September settlement …

Source: CNBC

EU signs new gas deal as fears grow over Russian supplies cutoff

CNBC


LONDON — The EU signed a new gas deal with Azerbaijan on Monday, as officials scramble to secure future supplies amid growing fears about a Russian cutoff.

 

European officials have been preparing for a potential complete shutdown of

Source: Reuters

Oil rises on Saudi oil production expectations

Reuters


LONDON :Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated.…

Source: Reuters

Gazprom casts doubt on pipeline’s quick return to full flow

Yahoo


BERLIN (AP) — Russian energy giant Gazprom appeared to cast doubt Wednesday on the prospects of quickly restoring the flow of natural gas to full capacity through a major pipeline to western Europe.

Gazprom last month reduced the gas

Source: Reuters

Biden’s hope for Saudi oil faces slim capacity reality check

World Oil


(Bloomberg) — Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy.

 

The U.S. president’s …

Source: World Oil

Exxon blocked from selling Nigeria oil assets to Seplat Energy

World  Oil


(Bloomberg) — Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc.

A judge in the capital, Abuja, granted the Nigerian National Petroleum Co. an …

Source: Reuters

Analysis: Oil majors face output slump, deep losses if Russia stops Kazakh pipeline

Yahoo Finance


LONDON -Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends a pipeline that is almost the only export route for oil from land-locked Kazakhstan, company sources, traders and analysts say.…

Source: CNBC

Europe on high alert as Russia temporarily halts gas flows via major pipeline

CNBC


Europe is bracing for an extended shutdown of Russian gas supplies as maintenance work begins on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea.

 

Operator Nord Stream AG confirmed the work, which …

Source: Reuters

With world in energy shock, Saudi oil cushion gets very thin

Reuters


When French President Emmanuel Macron whispered in Joe Biden’s ear last month that top global oil exporter Saudi Arabia has very little additional capacity to increase output, the U.S. President looked surprised.

Biden is due to land in Riyadh …

Source: World Oil

U.S. and allies discuss capping Russian oil prices to diminish war financing

World Oil


(Bloomberg) — The U.S. and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter.

 

Allies have been exploring several ways …

Source: World Oil

Chevron looks to revamp Venezuela oil pact to boost output

World Oil


(Bloomberg) — Chevron Corp. wants more control over the oil it produces in Venezuela, a move that would help the driller boost output and recover debt if the US eases sanctions amid a global fuel crunch.

The energy …