Brazil’s state-run oil giant Petrobras is preparing to file a request to appeal a decision to reject the environmental license for exploratory drilling in the deep waters of the Amapa at the mouth of the Amazon.
Crude oil prices jumped higher today after the U.S. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19.
Cooler temperatures this week and a dip in available wind power this month are boosting the demand outlook for June for U.S. natural gas, leading to nearly 3% price gains on Wednesday.
Benchmark natural gas prices in Europe continued to fall on Wednesday, extending several weeks of losses amid weak demand in the spring and higher-than-normal inventories after the end of the winter.
A $141 million acquisition in the Permian Basin became the latest sale to close in the region as it was expected to continued growing in production of both oil and natural gas.
KYIV, Ukraine — Despite a brutal Russian invasion that has killed tens of thousands of Ukrainian soldiers and civilians and laid waste to swaths of the country, Ukraine continues to allow Russian oil and gas to cross its territory to serve its European neighbors — generating revenue for Kyiv and Moscow and illustrating how hard it is for the bitter enemies to cut ties.
President Muhammadu Buhari has flagged off the resumption of physical activities toward the exploration of crude oil and gas in the Chad Basin area.
The Nigerian National Petroleum Company Ltd on Tuesday commenced an oil drilling campaign at the Wadi-B well located in Jere Local Government Area of Borno State.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country’s gas reserves currently stand at 208.83 trillion cubic feet, offering potential investors a huge potential.
The United States has renewed a license that will extend the authorization to select oilfield services companies to keep assets in Venezuela. The license does not allow the companies to drill, process, or handle Venezuelan-derived crude oil, Reuters reported on Tuesday.