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
GRA has also decided to amend the measurement Audit for the Downstream Petroleum Products Contract by revising it to fixed fee structure
With just about seven months to go for the general election this December and with possibly a new government to be sworn-in soon after that, dubious contracts worth millions of dollars are being awarded by the Akufo-Addo/ Bawumia government to their relatives and cronies. One of such dubious contracts is the award of the Ghana Gas Company Phase 2 project to a son of the Nana Asante Bediatuo.
Vice President Teodorin “Teddy” Nguema Obiang was in a mood for payback.
Saudi Aramco’s net income for Q1 2024 fell due to lower crude sales.
The company maintained its $31.1 billion dividend payout despite the profit dip.
This prioritization of shareholder payouts over short-term profit raises questions about Aramco’s strategy.