U.S. Deputy Energy Secretary Turk: “We are refilling as much as we can. We have been doing that for the last several months, and at this price level we’ll keep doing it,”.
Part of the reason oil prices went lower rather than higher last week despite the OPEC+ announcement was the suspicion that some of the cuts will remain so only on paper.
The market’s reaction to the OPEC+ voluntary cuts announcement was a further decline in oil prices.
(WO) – BrasFELS Shipyard (BrasFELS), a member of the Seatrium Group, has secured a contract from Offshore Frontier Solutions Pte. Ltd, a MODEC Group company, to undertake parts of the topside modules fabrication of a Floating Production Storage and Offloading (FPSO) for the Raia project in Brazil, operated by Equinor.
Canada’s oil and gas extraction industries deployed CAD 10.6 billion ($7.85 billion) in capital during the third quarter (Q3), up 1.68 percent from the prior three-month period and 12.76 percent from the same quarter last year, official data has shown.
Saudi Arabia’s Aramco is one of 50 oil and gas companies pledging to stop adding to planet-warming gases by 2050
Total Energies Marketing South Africa is divesting its 36.36 percent minority stake in National Petroleum Refiners of South Africa (Natref) to the Prax Group.
Brent crude futures were down 0.9%, or 73 cents, to US$78.15 a barrel by 0735 GMT, while U.S. West Texas Intermediate crude futures were at US$73.43 a barrel, down 0.8%, or 64 cents
A recent investigation by the Centre for Climate Reporting and Channel 4 News showed Saudi officials saying they were trying to artificially increase oil demand in some markets
Russia will be ramping up its diesel exports from its Black Sea and Baltic Sea ports by 28% in December from November, as Moscow relaxed further its fuel export curbs and Black Sea storms delayed some November loadings into this month, industry data seen by Bloomberg showed on Friday.