Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure. At the time of writing, Brent crude was trading at $116.56 per barrel, with West Texas Intermediate at $103.35 […]
Sinopec, China’s biggest oil refiner, posted higher third-quarter profits after the Iran war boosted energy prices and helped improved processing margins. The state-owned company, formally known as China Petroleum & Chemical Corp., said net income rose 64% from a year earlier to 13.6 billion yuan ($2 billion) according to an exchange filing on Thursday. Revenue […]
The appointment brings his rich experience in petroleum distribution, commercial operations and business management to the leadership of the company, which has interests in oil and gas and renewable energy. His membership of the International Society of Petroleum Engineers reflects his professional affiliation with the wider petroleum engineering community and his connection to developments and […]
The Public Interest and Accountability Committee (PIAC) has called for urgent measures to attract investment into the Tweneboa, Enyenra and Ntomme (TEN) oilfields to reverse the country’s declining and underperforming crude oil production. The committee said the TEN fields had yet to realise their full production potential, nearly a decade after they came on stream. […]
Crude oil prices extended their earlier gains today, with Brent crude keeping above $111 per barrel after the latest reports from the Middle East, featuring more Houthi attacks on Saudi targets.
Crude oil prices began the week with a dip on traders’ expectations of a boost in diesel fuel supply under the deal agreed by the presidents of Russia and the United States. However, the dip in oil benchmarks came from a much higher point than a week ago, leaving prices palpably elevated.
Brent crude swung back above $100 per barrel today as reports flow in about increasingly frequent Iranian attacks on tankers in Hormuz and U.S. Gulf of Mexico field operators began shutting in production ahead of a potential hurricane.
Oil fell as Saudi Arabia cut crude prices for Asian buyers in a sign that physical supplies are becoming more readily available as Middle Eastern exports recover.
Oil prices edged lower on Monday, October 5, as increased exports from the Middle East and an agreement by the Group of Seven countries to release oil and diesel from strategic reserves weighed on the market.Brent crude futures fell 66 cents, or 0.65%, to $101.59 a barrel. WTI crude lost 95 cents, or 1.03%, to […]
Crude oil prices are set for a modest weekly decline today, as reports of a strong rebound in oil flows out of the Persian Gulf trumped news of more U.S. troops moving to the Middle East and China’s Thursday decision to halt fuel exports this month.