From the moment that China offered Saudi Crown Prince Mohammed bin Salman (MbS) a face-saving way out of the Saudi Aramco initial public offering disaster that he had created, as analysed in depth in my new book on the new global oil market order, the relationship between the two countries has grown ever stronger.
Continued tightness in middle distillate inventories globally is balancing recession fears among commodity traders, pushing them to bet on fuel futures even as they exit crude oil.
Russia’s crude oil exports by sea fell slightly in the four weeks to June 18, but were still 250,000 barrels per day (bpd) higher compared to February, which serves as a baseline for the 500,000-bpd production cut Russia has promised this year.
The European Union failed to agree on proposed reforms to its energy market after a last-minute proposal from rotating president Sweden about extending state support for coal power.
The road map of cooperation between Iran and Uzbekistan in the oil, gas and petrochemical industries was compiled during a visit of Uzbek President Shavkat Mirziyoyev and his accompanying delegation to Tehran.
Tullow Oil PLC – Africa and South America-focused oil and gas exploration company – Announces results of its offer to purchase a portion of its outstanding USD800.0 million 7.0% senior notes due 2025.
Angola’s Ambassador to the Dominican Republic, María Cándida Pereira Teizeira has met with the Caribbean country’s Minister of Energy and Mines, Eng. Antonio Almonte, to discuss the possibility of collaborating in oil and gas development.
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.
Indonesian Government-backed energy company Pertamina has secured a long-term extension to its contract to develop the Menzel Ledjmet Nord (MLN) oil and gas block in Algeria.
Recent discoveries in offshore Guyana and Suriname have brought the spotlight firmly back on South America’s hydrocarbon sector, with analysts calling the Guyana Suriname Basin as the world’s most exciting frontier oil play.