Daily rates for chartering a supertanker to carry oil from the Middle East to Asia have soared this week to the highest since April as the number of cargoes booked this month for Middle East-Asia routes has exceeded expectations, shipbrokers and analysts have told Reuters.
In its new medium-term report on oil that came out last week, the International Energy Agency predicted that oil demand will peak by 2028.
The China National Petroleum Corporation (CNPC), the government-owned parent company of PetroChina, and Cnooc (OTCPK: CEOHF) has kicked off ultra-deepwater exploratory drilling for oil and gas as the country looks to wean itself of foreign oil.
The Kurdistan Regional Government (KRG) has lost $2 billion from oil revenues due to the nearly three-month-long suspension of Kurdish crude oil exports via Turkey, according to estimates by Reuters.
China’s economic data for May disappointed, with growth in industrial output and retail sales slowing from April and youth unemployment hitting a record high.
Crude oil prices were moving higher in early trade on Thursday after tumbling on Wednesday afternoon.
The Northern Regional Security Council (REGSEC) has given the firmest assurance yet about its resolve to maintain the present stability in the region, as the Ghana National Petroleum Corporation (GNPC) prepares to begin drilling an oil and gas exploration well in the Voltaian Basin next year.
South Korea asked for Azerbaijan’s support Wednesday for its companies seeking to take part in major energy and other industry projects in the European nation, the industry ministry said.
The Multi-Stakeholder Group (MSG) of the Ghana Extractive Industries Transparency Initiative (GHEITI) has today, formally launched the country’s 2020 Mining and Oil/Gas EITI reports, published on December 31, 2022.
An Ad-hoc Committee that was set up by the House of Representatives to investigate the alleged loss of over $2.4bn in revenue from the illegal sale of 48 million barrels of Crude Oil in 2015 including crude oil exports from 2014 to date has cleared the Nigerian National Petroleum Company Ltd of any wrongdoing.