West Texas Intermediate dropped almost 1% to settle near $70 a barrel, while Brent slid to around $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday.
The financial curbs on oil trading firms, 2Rivers DMCC and 2Rivers Pte Ltd. will clamp down on Russia’s oil revenues and drain President Vladimir Putin’s “war chest,” the UK government said in a statement on Tuesday. The two firms were “key lynchpins in enabling the trading of Putin’s precious oil,” it said.
There’s been a resurgence of tankers that are part of the mainstream fleet loading Russian crude after oil slipped closer to price-cap compliant levels, according to BRS Shipbrokers. The share of regular ships taking Russian crude over recent weeks has climbed by about 2%, BRS said in a note dated Dec. 16. Should oil prices […]
Kosmos’ statement follows initial disclosures on December 12, 2024, when media reports revealed the early-stage discussions surrounding a potential all-share offer for Tullow.
US player Kosmos Energy has dropped its bid to acquire Africa-focused UK independent Tullow Oil, the two companies announced on Tuesday. Last week, Kosmos unveiled a possible all-share offer to acquire Tullow. It had a deadline of January 9, 2025, to make the offer. The news sent Tullow stocks down 4% while Kosmos stocks enjoyed […]
This comes after the company reported a strong nine-month financial year of 2025 (9MFY25) performance, surpassing expectations, driven by rate increases for the floating production storage and offloading (FPSO) Abigail Joseph and contributions from FPSO Maria Quiteria. The research house has raised its FY25/26 earnings forecast by 14%, bolstering confidence in the company’s future growth.
U.S. oil and gas firm Kosmos Energy walked away from its pursuit of West Africa-focused Tullow Oil on Tuesday, without specifying any reason for the decision, prompting a 10% drop in Tullow’s shares.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the country’s known hydrocarbon reserves have increased, with crude oil and condensate hitting 37.5 billion barrels as of January 1.
Namibia has been a frequently mentioned name when talking about the future global oil landscape. With potentially significant reserves, the southwestern African country eyed the status of fifth-largest oil producer on the continent. But then something happened: Big Oil discovered gas. A lot of it.
The ever-growing Ghanaian supply chain market has driven organisations to increasingly rely on supplier collaborations and partnerships to enhance efficiency, drive innovation, and, most importantly, reduce costs. This trend is particularly pronounced in Ghana’s oil and gas sector, which plays a vital role in the country’s economy.