LONDON — A group of some of the world’s most powerful oil producers will meet on Thursday to decide the next phase of their production policy.
OPEC and non-OPEC partners, an energy alliance often referred to as OPEC+, convene …
RIO DE JANEIRO/MEXICO CITY/SINGAPORE – Brazil is growing its marine fuel oil exports to Asia’s lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data.…
BUENOS AIRES – Latin American oil company Vista Oil & Gas and Geneva-based Trafigura on Monday signed a deal to jointly develop 20 wells in Argentina’s Vaca Muerta shale oil deposit, the companies said in a statement.
The investment …
BRUSSELS – European Union countries on Monday gave the final seal of approval to a law to make the bloc’s greenhouse gas emissions targets legally binding, as EU policymakers prepare a huge new package of policies to fight climate …
MOSCOW – Russian oil production has declined so far in June from average levels in May despite a price rally in oil market and OPEC+ output cuts easing, two sources familiar with the data told Reuters on Monday.
Russia’s …
DUBAI – The value of Saudi Arabia’s oil exports in April climbed 109% to 51.7 billion riyals ($13.79 billion) from a year earlier while non-oil exports rose by 46.3%, official data showed on Thursday.
Oil exports made up 72.5% …
LONDON – A Dutch activist group that won a legal battle against Royal Dutch Shell RDSa.L over its climate strategy has urged the company to ditch its appeal and hold joint talks on how to reduce its emissions, according …
DUBAI – Saudi Arabian oil giant Aramco 2222.SE has secured a one-year extension to a $10 billion loan it raised last year, negotiating improved terms in the process, three sources told Reuters.
Aramco has borrowed tens of billions of …
Iran said on Wednesday the United States had agreed to remove all sanctions on Iran’s oil and shipping, although Germany cautioned that major issues remained at talks between Tehran and world powers to revive a 2015 nuclear deal.
The …
DUBAI, United Arab Emirates — Iranian President-elect Ebrahim Raisi gave his first press conference since the country’s election, saying Monday his priorities would be to improve ties with regional neighbors and revive the 2015 nuclear deal — and at …
Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next 10 years as efforts to diversify economies have made limited progress since the 2014-15 oil price shock, Moody’s said.
The rating …
Saudi Arabia’s April crude oil exports fell to their lowest level since June 2020, official data showed on Thursday.
Crude exports from the world’s top exporter slipped to 5.408 million barrels per day (bpd) from 5.427 million bpd in …
SINGAPORE (Reuters) – Asian refiners are paying the highest premiums for Middle East and Russian crude oil in about a year, due to firm demand and more costly imports from the West, industry sources said.
High prices could prompt …
DUBAI- Saudi Arabian oil giant Aramco locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first U.S. dollar-denominated sukuk sale, a document showed.
The debt …
DUBAI – Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far …
LONDON – Royal Dutch Shell will seek ways to accelerate its energy transition strategy and deepen carbon emission cuts following a landmark Dutch court ruling last month, CEO Ben van Beurden said on Wednesday, a move that will likely
U.S. Secretary of State Antony Blinken said on Tuesday that Washington was working with Germany to try to mitigate any effects of the completion of the Russian Nord Stream 2 natural gas pipeline.
He also indicated that more penalties …
A host of barriers to the revival of Iran’s nuclear deal remain firmly in place ahead of talks due to resume this week between Tehran and world powers, suggesting a return to compliance with the 2015 accord is still …
Oil prices extended losses on Tuesday on profit taking and a stronger U.S. dollar, but overall optimism about recovering demand kept a floor under prices.
Brent crude was down 37 cents, or 0.5%, at $71.12 a barrel by 1335 …
MOSCOW – Rosneft has kicked off meetings with foreign contractors and suppliers for its massive Vostok Oil project, the Russian energy producer said on Monday.
It aims to begin shipping oil from the planned project in 2024 via the …
SINGAPORE/KUALA LUMPUR/MEXICO CITY – Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative flow of sanctioned oil to …
Russian Deputy Prime Minister Alexander Novak on Thursday said the oil and gas-rich country may soon be tempted to move away from U.S. dollar-denominated crude contracts if President Joe Biden’s administration continues to impose targeted economic sanctions.
“Well, ideally
LONDON – UK demand for road fuel – mainly petrol and diesel – has returned to pre-pandemic levels, official data released on Thursday showed, after the country eased coronavirus-related restrictions following a successful vaccination programme.
Fuel consumption dropped sharply …
A huge fire has broken out at an oil refinery in the southern part of the Iranian capital Tehran, Iranian state media reported, saying there were so far no reports of casualties.
Iran’s Tasnim news agency said all …
The United States recently seized a ship and then sold off the Iranian oil it was carrying, according to reports over the weekend.
Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation’s oil sector, according to interviews with a half dozen industry sources, as a key …
OSLO – Equinor’s Johan Castberg oilfield in the Arctic Barents Sea won’t come on stream until the end of 2023, a year later than planned due to technical problems that have also hit its value, Norway’s oil and gas …
LONDON — A Dutch court on Wednesday ruled oil giant Royal Dutch Shell must reduce its carbon emissions by 45% by 2030 from 2019 levels.
That’s a much higher reduction than the company’s current aim of lowering its emissions …
DUBAI – The value of Saudi Arabia’s oil exports in March rose by 75% year on year to 52.3 billion riyals ($13.95 billion), official data showed on Wednesday.
Non-oil exports increased by 42.9% to 22.4 billion riyals, the General …
