Russia is interested in increasing its oil production through projects in Venezuela, Russian deputy prime minister Alexander Novak said on Thursday, according to TASS.
Last week, one of the more bearish articles was published on the oil price outlook as reviewed by commodity analysts at Standard Chartered. According to the analysts, their proprietary crude oil money-manager positioning index that compares net longs across the four main New York and London-based crude contracts relative to open interest and historical norms is currently more negative than those for all other commodities they track.
Oil prices dipped on Thursday as the dollar firmed, while the possibility of further increases to interest rates by global central banks also heightened demand concerns.
HSBC Holdings Plc will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.
We have seen a wide range in oil prices during 2022. From the start of the year, when West Texas Intermediate-WTI, was trading in the upper $ ’60s, to late March, where it topped $130 per barrel.
Despite the dire predictions of peak oil demand, which will is expected to arrive during the next decade as the world transitions to a low-carbon economy, international energy companies are investing heavily in fossil fuel exploration and production.
The energy crisis that began last year in Europe and dramatically escalated following the EU response to Russia’s invasion of Ukraine has seen many in government worry about the survival of the continent during the winter
The top U.S. refiners have posted record quarterly profits this year amid high refining margins and reduced operational capacity in America, more than recovering the hefty losses from 2020, when the pandemic hit fuel demand.
London-based company secures another licence in Tano basin, a play it understands well
Tullow Oil plc (Tullow) is pleased to announce the signing of a Production Sharing Contract (PSC) for offshore exploration licence CI-803 in Côte d’Ivoire.