Oil prices slid more than $1 a barrel on Monday, with Brent falling below $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict.
Oil prices are likely to remain at current highs as geopolitical risk factors increase, but the next significant price jump would likely come if Israel attacks Iran’s energy facilities, said Greg Sharenow, head of the commodity portfolio management group at Pacific Investment Management Co LLC.
Hanoi (VNA) – Prime Minister Pham Minh Chinh hosted a reception in Hanoi on April 8 for Sergey Ivanovich Kudryashov, General Director of Russia’s Zarubezhneft JSC, who is on a working visit to Vietnam to seek cooperation opportunities in oil and gas and energy.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) has strengthened its management team, hiring Dr Eleanor Rowley as its new independent non-executive director
Join Subsea Energy Australia on Tuesday, April 16 for the first of a three-part series on all there is to know on the Bunbury offshore wind announcement.
Since 2020, there have been military coups in Burkina Faso, Mali, and Niger.
Potential spillover of conflicts to the coastal West African countries could endanger some oil projects and deter foreign investment.
The EU and US have promised support to Western African governments to counter the spillover of insecurity from the Sahel.
Oil major Shell expects oil and gas production across its Upstream and Integrated Gas business segments to come in slightly ahead of its previous guidance for the first three months of this year.
TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and further strengthening its business integration in the U.S. LNG value chain.
Insecurity and extremism in the coup-plagued Sahel risk destabilizing West African coastal states, which will soon be responsible for almost 500,000 b/d of oil and refined product flows, according to S&P Global Commodity Insights data.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, said that the Oil Ministry is taking steps to reach a production capacity of five million barrels per day despite the serious restrictions on oil markets and the OPEC countries’ quota limitations to maintain price stability.