Oil volatility has increased at the front of the curve, with 30-day realized annualized front-month Brent volatility gaining 2.1 percentage points week on week to 31.7 percent.
It was a week when both oil and natural gas prices recorded small losses.
The headlines revolved around energy biggie Shell plc’s SHEL investment in an Australian gas project and equipment supplier SLB’s SLB expansion in Russia. Developments associated with ExxonMobil XOM, Marathon Oil MRO and NextDecade Corporation NEXT also grabbed attention.
Vitol has secured three LNG Bunkering Vessels (“LNGBV”) through its shipping company, Vitol International Shipping Pte Ltd (“VIS”).
President Bola Tinubu on Friday in Abuja commended international energy company, ENI, for its proposed new investment in Nigeria, reiterating his vision of making the nation more globally competitive and an investment destination.
Kosmos Energy Ltd. announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S.Gulf of Mexico.
Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.
The Chairman of the Dangote Group, Aliko Dangote has announced that Nigeria will no longer need to import gasoline by June thanks to the Dangote Refinery.
:Indonesia expects oil and gas investments to rise 29% to $17 billion in 2024
Houston — As Big Oil returns this week to the industry’s annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the US Gulf Coast will take the spotlight.
Oil prices increased by 12.9% in the first quarter of 2024, albeit with much volatility due to concerns that global geopolitical tensions will cause supply disruptions.