Oil prices shed 1% in Thursday morning trading over American debt and the prospects for a historic default, despite gains on Wednesday driven by demand optimism in the U.S. market.
Latin America’s largest economy Brazil has experienced a massive oil boom over the last decade and a half that saw the country become the top regional and leading global petroleum producer.
The United States and several other Western countries plus Ukraine are calling for increased surveillance for cracking down illicit ship-to-ship transfers of oil, which have soared since the embargoes on Russian crude and product exports came into effect.
RIYADH, May 10, 2023 – Saudi Aramco has made USD 31.9 billion in net profits in Q1 2023, the Saudi NOC announced on Tuesday.
OSLO, May 11, 2023 – Norway has launched its latest oil and gas bid round with 92 new blocks on offer, the Ministry of Petroleum and Energy announced on Monday.
THE Chief Executive Officer of the Ghana National Gas Company (GNGC), Dr Ben K.D. Asante, says natural gas is Ghana’s best stepping stone to a climate-friendly environment powered by renewable energy.
May 10 (Reuters) – A number of oil and gas companies in Canada’s main crude-producing province Alberta restarted shuttered production on Wednesday as wildfires that sparked widespread evacuations eased, although officials warned conditions could deteriorate.
THE Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has disclosed that at 1.5 million barrels per day, Nigeria was producing oil at 60 percent of technically allowable 2.5 million barrels per day.
Crude oil prices fell further today after the Energy Information Administration reported an inventory build of 3 million barrels for the week to May 5.
Mild spring weather with low gas demand combined with pipeline maintenance to drag spot natural gas prices at the Waha hub in West Texas into negative territory this week.