Crude oil prices moved higher moments before the Energy Information Administration reported an inventory build of 4.5 million barrels for the week to May 26.
Iraq, OPEC’s second-largest oil producer, exported on average 3.3 million barrels per day (bpd) of oil in May, flat compared to April, according to the Iraqi oil ministry.
The Ghana Upstream Petroleum Chamber and Ghana Revenue Authority have started a series of quarterly seminars between them to improve the understanding of each other’s needs and enhance collaboration.
MAPUTO, May 24, 2023 – TotalEnergies has published a humanitarian report outlining an action plan to boost local aid and restart its USD 20-billion onshore LNG project in Mozambique, the French energy giant announced on Tuesday.
BRAZZAVILLE, May 25, 2023 – Chevron has begun the sale process for its oil and gas assets in the Republic of Congo, Reuters reported on Thursday.
Governor Babagana Zulum of Borno State and the Shehu of Borno, Abubakar Al-Kanemi, have allayed fears that the protracted insurgency in the Chad Basin will hinder oil exploration there.
Crude oil prices began to trade on Thursday with little change from Wednesday’s close as opposing forces kept them stable.
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.