Oil prices fell on Friday, heading for a weekly drop of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts.
Turkey is seeking a U.S. sanctions waiver to continue using a now-sanctioned Russian bank for paying for its energy imports from Russia, while also talking with Russian officials about the future of energy trade and payments.
U.S. businessman Stephen P. Lynch, who has lived in Russia for two decades and has done business there, has sought a U.S. license to try to buy Nord Stream 2, The Wall Street Journal reported last week
Angola plans to start the production of natural gas not associated with oil, from 2025, through the New Gas Consortium (NCG), the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo has announced as carried by Angola News Agency.
The 15 million tonnes per annum Golden Pass LNG scheme is a joint venture between state-owned QatarEnergy and US supermajor ExxonMobil.
Sapura confirmed the award of a contract for the provision of Pan Malaysia offshore maintenance, construction, modification, and hook-up and commissioning services, dubbed Package C2 (Sarawak asset oil).
Falcon Oil & Gas Ltd. has announced the spudding of the Shenandoah S2-4H horizontal well (previously referred to as the SS3H well) in exploration permit 98 in the Beetaloo Sub-basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.
BP Plc anticipates strong growth in the U.S. as President-Elect Donald Trump improves regulations on the oil and gas industry just as artificial intelligence boosts energy demand.
West Texas Intermediate shed 3.2% to settle below $69 a barrel. The Israeli ambassador to the US said a cease-fire agreement between his country and Lebanon’s Hezbollah could happen “within days.” Brent slid 2.9% to settle near $73.
According to the leading energy company, gas is the immediate solution to many immediate problems in Africa; thus, there is a compelling development case for investment in the resource.