The OPEC+ group is expected to maintain its oil production policy unchanged this weekend and affirm a pause in output hikes in March even as Brent Crude prices hit $70 per barrel this week for the first time in five months, delegates from the alliance told Reuters on Friday.
Trinidad and Tobago is once again trying to bring its long-idled one-and-only oil refinery back to life, but this time the government is talking to Indian Oil Corp about making it happen.
ConocoPhillips, TotalEnergies SE and Libya’s National Oil Corp (NOC) have signed an agreement extending the onshore Waha concessions to December 2050.
French energy giant TotalEnergies has restarted construction of a $20 billion liquefied natural gas (LNG) project in Mozambique after being forced to pause operations indefinitely due to escalating violence in the region, according to Al Jazeera.
In a market comment sent to Rigzone on Thursday, Mazen Salhab, Head of Market Research at MH Markets, highlighted that oil prices “remain elevated and volatile … as the market prices supply risk and demand uncertainty at the same time”.
OKEA ASA and its partners have discovered more hydrocarbon deposits in the producing Brage field on Norway’s side of the North Sea.
President Donald Trump warned Iran to make a nuclear deal with the US or face military strikes far worse than the attack he ordered last June, increasing pressure on the regime and propelling oil prices higher.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.3 million barrels from the week ending January 16 to the week ending January 23.
Venezuela’s interim leader is playing to three different audiences with her plans for Venezuela’s oil sector: foreign investors, the Donald Trump administration, and her own socialist supporters. None of them is happy with it.
Ukraine is ready to halt strikes on energy infrastructure if Russia agrees to abide by a US proposal for a weeklong truce, President Volodymyr Zelenskiy said.