Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be the sole buyer of gasoline from Dangote refinery but would step in if the facility sold above pump prices.
Crude oil prices began the week with gains as traders took a break after the latest selloff and as a weather system in the Gulf of Mexico could become a hurricane before it makes landfall.
Eni SPA and the State Oil Company of the Azerbaijan Republic (SOCAR) agreed to cooperate on emission reduction projects in the COP29 host country at the same time pursuing hydrocarbon exploration and production to secure fuel for Europe.
KBR has been awarded engineering contracts by Singapore’s Seatrium Group to develop topsides facilities for two new FPSO units which will be deployed at Petrobras’s Atapu and Sepia fields in the Santos Basin, Brazil, KBR announced on Thursday.
Islamabad: A substantial deposit of petroleum and natural gas has been discovered in Pakistan’s territorial waters, a cache so large its exploitation could change the country’s destiny, according to a media report.
Saudi Arabia cut pricing of its flagship crude grade for its main market in Asia next month as concerns mount over waning demand.
Oil futures jumped by about 1% on Monday as a potential hurricane approaching the U.S. Gulf Coast helped oil prices to recover some of the previous week’s heavy losses.
Malaysia’s Yinson is divesting its offshore marine business, Regulus Offshore, to compatriot Icon Offshore supporting the seller’s strategic direction to focus on its floating production, storage and offloading vessels and energy transition businesses.
Crude oil prices hit year-to-date lows on Wednesday, with Brent at $72.63 and WTI at $69.19, driven by weak demand in China and other markets.
OPEC+ delayed plans to ease production cuts, but analysts see challenges due to lost market share and declining prices.
Commodity analysts highlight trend-following strategies and potential for a short-covering rally in oil, while the return of Libyan oil adds further downward pressure on prices.
Italian oil and gas contractor Saipem has won two deals worth $1bn from Aramco, Saudi Arabia’s state-owned oil company.