In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price momentum has fizzled out with the war risk premium that helped fuel an oil price rally in the early days of the Israel-Hamas war all but gone thanks to Israel’s ground incursion into Gaza proving to be less extensive than some investors expected.
BP has set a deadline for completion of the Greater Tortue Ahmeyim (GTA) natural gas project offshore Mauritania and Senegal to Q1 2024, the British energy giant announced on Tuesday during a conference call.
Total Energies has signed an amendment to extend its partnership with Oman LNG for 10 years, the French energy giant announced on Thursday.
Oil prices have been a rollercoaster over the past couple of months as negative catalysts frequently outshine the positive ones and vice-versa. In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices.
Crude oil prices remained largely unchanged today after the Energy Information Administration reported an inventory build of a modest 800,000 barrels for the week to October 27.
Oil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China’s manufacturing data due this week, offsetting support from tension in the Middle East.
The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region, the World Bank warned this week.
Trinidad and Tobago has launched an oil and gas bid round with 13 shallow-water blocks on offer, Reuters reported on Wednesday. The 13 blocks are located on the continental shelf near producing concessions. According to Reuters, bids for the round will close on April 2, 2024. The offerings are more than double the country’s previous […]
Energy giant BP has reported lower than expected profits despite global oil prices rising again.
Some of the world’s largest national oil companies (NOCs) have improved significantly their resilience to oil price slumps in the near future thanks to huge cash flows and profits in the past two years. But many of those companies face challenges in sustainability and ESG metrics due to governance issues, disclosures, and the lack of Scope 3 emission targets.