BRASíLIA, May 9, 2023 – Petrobras’ Anna Nery FPSO has begun production at the Marlim and Voador offshore fields on the Campos Basin in Brazil, the Brazilian NOC announced on Monday.
Washington (AFP) – Facing a deep economic crisis, Pakistan has started to buy Russian oil, but the country’s petroleum minister says the future lies in diversified, especially green, energy.
President Muhammadu Buhari has directed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to take over the supervision of all crude oil export terminals in the country.
Saudi oil giant Aramco on Tuesday reported a first-quarter net income of $31.9 billion, down by 19% from the first quarter of 2022 as macroeconomic concerns dragged down oil prices between January and March 2023.
Crude oil prices began Tuesday trade with a dip as traders brace up for the April inflation data, to be released on Wednesday.
The U.S. average gasoline price has fallen for the third week in a row, falling another 7.5 cents per gallon from a week ago, according to GasBuddy data.
Brent crude oil was up nearly 2% on Monday, largely driven by the easing of economic slowdown fears in the U.S.
Given the high stakes geopolitical game in which the world finds itself following Russia’s invasion of Ukraine last year, it would be naïve to be believe that anything as high-profile as Iran’s seizure of oil tankers in and around its coastal waters occurred in political isolation.
Europe’s benchmark natural gas prices extended losses on Monday and began a sixth week of declines amid comfortable inventories and tepid gas demand in Europe and Asia.
Concerns about the economy and new banking sector jitters have sent oil traders rushing for the exits and cutting their bullish bets on crude oil again.