The Kurdistan Regional Government (KRG) has lost $2 billion from oil revenues due to the nearly three-month-long suspension of Kurdish crude oil exports via Turkey, according to estimates by Reuters.
China’s economic data for May disappointed, with growth in industrial output and retail sales slowing from April and youth unemployment hitting a record high.
Crude oil prices were moving higher in early trade on Thursday after tumbling on Wednesday afternoon.
Earlier this month, a senior executive from Pioneer Natural Resources predicted higher oil prices later this year. Demand for crude was rising strongly, executive VP Beth McDonald told Reuters last week, but supply was playing catch-up and without much enthusiasm.
According to the Organization of Petroleum Exporting Countries (OPEC), Nigeria has reclaimed its status as the continent’s top producer of crude oil for the month of May 2023.
ExxonMobil has denied allegations that it illegally lifted Butane at the Bonny River Offshore Terminal (BRT), an offshore terminal in Nigeria.
Islamabad, Pakistan – Pakistan has received its first shipment of Russian crude oil under an agreement signed between the two countries in April, but experts believe it will be too soon to say if the deal will provide significant benefit to domestic consumers. The cargo carrying 45,000 metric tonnes of crude oil arrived at the southern […]
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has written to the Nigerian military alleging the illegal lifting of petroleum products by ExxonMobil at Bonny Terminal, Rivers State.
Natural gas production in the Permian Basin hit a record in 2022, the Energy Information Administration reported, with the total at 21 billion cubic feet daily
Saudi Aramco, the world’s largest crude oil exporter, has assured at least five North Asian refiners they would get the full crude volumes they had asked for in July, even after the production cut Saudi Arabia announced last week, sources familiar with the plans told Reuters on Monday.