EnergyMix Algeria, 10th largest gas producer, said it will record a fall of 4.7% of its gas exports. These negative forecasts will also impact the country’s ability to support local demand for gas, which continues to grow. Algerian Energy Minister Abdelmadjid Attar (photo) announced that the country’s gas exports are expected to fall by around 4.7% this year, or 41
Oil & Gas Climate Action 100+ has more than 500 investors and $47 trillion in assets Climate Action 100+, a leading investor group pushing corporations to act on climate change, has added Saudi Aramco to its list of target companies. The group has more than 500 investors with more than $47 trillion in assets under management, and aims to engage
Houston Chronicle Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned. Crude prices briefly soared to a three-month high above $70 a barrel last week as tensions between the U.S. and Iran erupted in neighboring Iraq, where America assassinated an Iranian
Reuters LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike Brent crude futures LCOc1 soared to a high of $70.74 a barrel and was at $69.38 at 1150 GMT, up 78 cents, or more
Reuters BASRA, Iraq – Operations resumed at Iraq’s southern Nassiriya oilfield on Monday, the oil ministry said, but it will take up to two days for output to be fully restored, two oil sources said. Protesters broke into the oilfield, which produces 80,000-85,000 barrels of oil per day, on Saturday and forced employees to cut off electricity from its control
Reuters NEW YORK – Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in Iraq and Syria. Brent crude futures LCOc1 gained 55 cents to $68.71 a barrel by 11:17 a.m. EST (1617 GMT).
Reuters BEIRUT – Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions. State news agency SANA said the deals cover exploration and production in three blocs, including an oilfield in northeast Syria and a gas field north of the capital
Reuters LONDON – Oil edged higher on Wednesday as Iran-related tensions escalated but receding hopes for a quick solution to the U.S.-China trade war which has dented global growth dragged on prices. West Texas Intermediate crude futures CLc1 traded up 23 cents, or 0.42%, to $55.44 a barrel by 1225 GMT. Brent crude futures LCOc1 were at $61.23 a barrel,
U.S. Secretary of State Mike Pompeo called on the European Union Wednesday to condemn Iran for delivering some 2.1 million barrels of crude oil to Syria after reassuring Britain it would not do so. The Adrian Darya 1, formerly known as Grace 1, was captured by British forces off Gibraltar in July on suspicion that it was en route to
Source: Reuters Saudi Arabia’s oil output will be fully restored quicker than thought following weekend attacks on production facilities, two sources briefed on developments said on Tuesday, taking two or three weeks not months as initial indications suggested. The kingdom is close to restoring 70% of the 5.7 million barrels per day (bpd) production lost due to the attacks, said
From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.
