The approval has been granted for offshore oil block S-4, which was offered as part of the auction initiated in September 2023.
The Mauritanian government has opted not to renew international oil company bp’s contract for the exploitation of the BirAllah gas field, located in the coastal basin of Mauritania.
Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has confirmed the departure of a floating production, storage, and offloading (FPSO) vessel from a Chinese shipyard. This FPSO is now sailing toward South America, where it is expected to be deployed off the coast of Brazil.
Oil climbed after government data showed a decline in US stockpiles, signaling a tighter physical market.
Mermaid Maritime’s joint venture with a Middle Eastern offshore services company has secured a one-year contract extension for subsea services with an upstream oil and gas company.
A US official has said that Iranian oil is being transported through Malaysia to China.
ANZ has hardened its stance against funding new oil and gas projects, joining other major banks in aligning lending with the Paris commitment to limiting global temperature increases to “well below” 2 degrees Celsius.
The oil price selloff appears to have been triggered by a return of demand pessimism thanks to last week’s report by the EIA that showed a 7.3M-barrel build in U.S. crude stocks.
Standard Chartered: demand fears are overblown.
StanChart says that traders are betting that OPEC+ will maintain the current levels of production restraint.
Crude oil prices recovered lost territory today after the U.S. Energy Information Administration reported an inventory draw of 1.4 million barrels for the week to May 3.
China’s extraordinary economic expansion almost singlehandedly drove a supercycle in key commodities since the mid-90s.
This robust performance across several major sectors in China’s economy is in sharp contrast to the growth drivers seen last year.
China continues to buy oil from Russia and Iran at a discounted price